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 following recap of the Brevard County Residential Report for May 2016 compared to May 2015:
• Closed Sales are up 2.6% for May 2016 (942 closed units, compared to 918 in May 2015). There was a decrease in cash sales by -18.2% compared to May 2015.
• New Pending Sales are up 6.2% and New Listings are up 3.8%.
• The Median Sales Price for Brevard Single Family homes is up 11.4% ($185,000 this year compared to $166,000 last year).
• Months Supply of Inventory is down -10.3%
• Traditional Sales are up 12.9% ($190,000 median sale price).
• Foreclosure/REO Sales are down -44.1% ($131,000 median sales price).
• Short Sale Closings are down -41.7% ($99,950 median sales price).
For Brevard County townhouses/condos, here is a summary of MLS data for May 2016 compared to May 2015:
• Closed Sales are up 10.5% for May 2016 (262 closed units compared to 237 in May 2015). There was an increase in cash sales by 4.8% compared to May last year.
• New Pending Sales are up 4.2% and New Listings are up 4.3%
• Median Sales Price for Townhomes/Condos stayed the same at $140,000.
• Months Supply of Inventory is down -9.8%
• Traditional Sales are up 21.8% (median sales price of $143,200).
• Foreclosure/REO Sales are down -61.3% ($110,200 was the median sales price).
• Short Sale Closings are down -49.7% (median sales price of $102,550).
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We look forward to more than just assisting you with buying and selling a house; Real Estate Ink is committed to building a mutually beneficial relationship with you for the future, too.