Courtesy of Real Estate Ink, a full-service boutique brokerage in Melbourne, FL, that offers sales and leasing representation, property management, and project development, check out the recap of the Brevard County Residential Report for February 2016 compared to February 2015:
• Closed Sales are down -2.4% for February 2016 (there was a decrease in cash sales by -16.4% compared to February 2015)
• New Pending Sales are up 11.9% and New Listings are up 15.1%
For Brevard Single Family homes, the median sales price is up 17.9% to $165,000, compared to $140,000 in 2015.
• Traditional sales are up 9.7% (median sales price of $169,900)
• Foreclosure/REO Sales are down -37.3% (median sales price of $118,725)
• Short Sale Closings are down -66.7% (median sales price of $93,150)
For Brevard County Townhouses/Condos, this is how February 2016 compared to February 2015:
• Closed Sales are down -3.7% for February 2016 (there was a decrease in cash sales by -12.5% compared to February 2015)
• New Pending Sales are up 8.2% and New Listings are up 6.8%
• Median Sales Price for Townhomes/Condos is up 7.7% to $143,232 compared to $133,000 in 2015.
• Traditional sales are up 2.5% (median sales price of $146,150)
• Foreclosure/REO Sales are down -30.8% (median sales price of $83,750)
• Short Sale Closings are down -75% (median sales price of $49,000)
Nationally, February was a good month for pending home sales. The number rose to its highest level in seven months. The biggest increase was in the Midwest, but in all major regions, except for the Northeast, there was an increase in February contract activity.
