Home Sales are Up in Brevard County

Posted on: May 24, 2011

Is 2011 the year for a real estate rebound? It very well could be, based on the number of sales thus far in 2011. Take a look at the following facts:

  • Over the past 12 months, 6,693 single family homes were sold in Brevard. This is up from 5,734 at the same point of time in 2010, and in 2009 that number was 5,464. Going back to the same point in 2008, 4,827 single family homes were sold. Outlook… Positive!
  • Declines in housing prices aren’t as steep as they have been in years past. In 2010, the median sales price was $105, 900. This is down 9% from 2009. However, the percentage drops in 2009 and 2008 were 24 and 21%, respectively. Three of the past six months have seen median price increases compared with a year earlier. This is following 53 consecutive months of price decreases. Outlook… Positive!
  • New foreclosure filings are way down. Only 212 foreclosure suits were filed in Brevard County in April. This is the lowest monthly total since October 2006. Additionally, only 951 foreclosure suits were filed during the first 4 months of this year, compared with 2,881 which were filed for the same time period in 2010. Outlook… Positive!
  • Fewer numbers of new homes are coming onto the market. In the past 12 months, 6,596 new listings have come onto the MLS, compared with 9,104 for the same time last year. Fewer homes on the market means higher prices and shorter sales times. Outlook… Positive!

On top of the positive statistics above, our relatively low home prices, along with historically low interest rates, make buying a home very affordable right now. In Brevard County, families who are earning the median household income could afford to purchase 86% of the homes sold in our county in the fourth quarter of 2010. Compare this with 2006, when the same families could only afford to purchase 49 percent of the homes sold here in Brevard County. Wow…Now is the time to buy!

If you have any questions about our local real estate market, I would be more than happy to answer them for you. Please feel free to contact me for information on buying or selling in Melbourne Beach, Indialantic, Indian Harbour Beach, Satellite Beach, Suntree, Viera, or Merritt Island.  

Whether you are buying or selling, it would be my pleasure to represent you!  Please call or email me today to review your real estate needs!

Contact me, Carolyn Smith at:

Phone: 321.271.0870


Source of info: Florida Today, John McCarthy

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RE/MAX Olympic Realty
445 Fifth Avenue
Indialantic, FL 32903

Direct: 321.271.0870
Fax: 321.574.3044


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Indialantic, FL 32903

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