Median Gross sales Value for Brevard Single Household properties is up 9.2% to $266,333
BREVARD COUNTY, FLORIDA – Current dwelling gross sales continued to rebound strongly all through Florida in July. Closed gross sales of beforehand owned single-family properties had been up nearly 12 % year-over-year, the very best month-to-month efficiency we’ve seen for this property kind since January’s almost 18 % enhance.
Statewide, new pending gross sales of single-family properties had been additionally up huge, by about 22 % in comparison with July of final yr.
Coupled with the over 23 % year-over-year enhance in new pending that we noticed in June, all indications are that this wave of closed gross sales will proceed on via the tip of the summer season and maybe past.
“This date reveals our housing market continues to recuperate from the slowdown because of the coronavirus,” says Nikki McCoy Freeman with McCoy Freeman Actual Property serving all of Florida’s House Coast.
“File low-interest charges and the renewed demand for homeownership is driving gross sales,” says Freeman.
When charges go down, you’ll be able to afford a higher-priced dwelling however then once more, so can competing consumers, so we’re positively seeing costs getting bid upward.
In response to Freddie Mac, the rate of interest for a 30-year fixed-rate mortgage averaged three.02% in July 2020, down from the three.77% averaged throughout the identical month a yr earlier.
Recap of the Brevard County Residential Report for July 2020
■ Closed Gross sales are up +22.2% for July 2020 through which the variety of models closed was 1,204 in comparison with 985 in July 2019, with a rise in money gross sales of +7.four% in comparison with July 2019.
■ New Pending Gross sales are up +14.2% and New Listings are up +5.5%.
■ The Median Gross sales Value for Brevard Single Household properties is up +9.2% to $266,333 in comparison with a yr in the past, which was $244,000.
■ Months Provide of Stock is down -31.zero% to 2.zero months, a lower from 2.9 months in July 2019.
■ Conventional Gross sales are up +21.eight%, with a median gross sales worth of $269,000.
■ Foreclosures/REO Gross sales are up +40.zero%, with 21 gross sales and a median gross sales worth of $151,000.
■ Quick Sale Closings are up +100.zero% with four closed gross sales and a median gross sales worth of $132,500.
Recap of the Brevard County Townhouses/Condos for July 2020
■ Closed Gross sales are up +13.2% for July 2020 through which the variety of models closed was 325 in comparison with 287 in July 2019, with a rise in money gross sales of +21.three% in comparison with July 2019.
■ New Pending Gross sales are up +40.zero% and New Listings are up +5.zero%.
■ Median Gross sales Value for Townhomes/Condos is up +17.5% to $215,000 in comparison with a yr in the past, which was $183,000.
■ Months Provide of Stock is down -21.6% to 2.9 months in July 2020 from three.7 months in July 2019.
■ Conventional Gross sales are up +14.5%, with a median gross sales worth of $215,000.
■ Foreclosures/REO Gross sales are down -75.zero%, with 1 closed gross sales and a median gross sales worth of $49,350.
■ Quick Sale Closings are unchanged with zero closed gross sales in July 2020 in comparison with zero closed gross sales in July 2019.
ABOUT THE AUTHOR
Bobby Freeman, a lifetime resident of Brevard County, has been a prime Realtor within the space for over twenty years. In his first yr as an agent, Freeman acquired a Rising Star award from his Brokers. Since then he has achieved quite a few gross sales awards from a number of the largest actual property corporations on this planet.
Freeman, Jennifer McCoy and Nikki McCoy-Freeman are household homeowners of the McCoy-Freeman Actual Property Group on Florida’s House Coast. Collectively they’ve greater than 40 years of intensive expertise in all facets of the true property trade, have bought over $420 million and are ranked within the prime 1% of all Florida Realtors.
Amongst McCoy-Freeman Group’s achievements are Licensed Luxurious Dwelling Advertising and marketing Specialist (CLHMS), Licensed Distressed Property Consultants (CDPE), Accredited Purchaser’s Consultant (ABR) and voted Finest Realtor in Brevard County. The group has been featured in lots of information publications together with CNN Cash Journal, CNNMoney.com, WFTV 9 Information, Information 13, WKMG Information 6, Coastal Condominium Residing Journal, Sizzling Retirement Cities Journal, and SpaceCoastDaily.com.
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