Navigating the Brevard County Real Estate Market – September 2023 Report
Are you considering buying or selling a home in Brevard County, Florida? Whether you’re a prospective buyer, seller, or still on the fence, understanding the latest market trends is crucial. Our team at Blue Marlin Real Estate is here to break down the key insights from the September 2023 Brevard County Residential Report to help you make informed decisions.
For Home Buyers:
Closed Sales: In September 2023, closed sales for homes in Brevard County saw a slight dip of 1.7% compared to the previous year. This could mean a slightly less competitive market, giving buyers more breathing room.
Median Sales Price: The median sales price for single-family homes in Brevard County increased by a modest 0.7%, reaching $364,995. This stability in prices is encouraging for potential buyers.
Inventory: The market’s inventory has expanded by 35%, offering buyers more options to choose from.
Traditional Sales: If you’re in the market for a traditional sale, prices remain steady at a median of $365,000.
Foreclosure/REO Sales: There’s been a noteworthy 50% increase in foreclosure/REO sales. These properties come with a lower median price tag of $195,000.
Short Sale Closings: Short sale closings have doubled, but they also come with a median price of $365,000.
For Home Sellers:
Closed Sales: While closed sales have seen a slight decrease, it’s important to note that the market remains active.
Median Sales Price: The median sales price for single-family homes has inched up, indicating a stable market.
Inventory: Sellers should be aware that inventory has increased by 35%, potentially leading to more competition.
Traditional Sales: If you’re selling through a traditional sale, your median price is consistent at $365,000.
Foreclosure/REO Sales: There’s been an uptick in foreclosure/REO sales, which may impact pricing in certain areas.
For Those on the Fence:
The townhouses/condos market presents an intriguing opportunity for both buyers and sellers:
Closed Sales: The townhouses/condos market is showing promise, with closed sales up by 4.6%.
Median Sales Price: The median sales price for townhomes/condos has increased by 5.5%, suggesting a competitive market.
Inventory: Inventory has significantly increased by 94.7%, providing more options for buyers and potentially more competition for sellers.
Whether you’re a buyer, seller, or uncertain about your next move, our dedicated team at Blue Marlin Real Estate is here to guide you through the ever-changing Brevard County real estate landscape. If you’re a buyer, consider exploring the townhouses/condos market with its competitive prices and increased options. Sellers, keep in mind the growing inventory and consider pricing your home competitively.
For personalized guidance, market insights, and expert assistance in achieving your real estate goals, contact the Blue Marlin Team today. Your dream home or a successful sale is just a call away with Blue Marlin Real Estate!