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Brevard County Residential Real Estate Market Continues

The real estate recovery in Brevard County continues as per the most recent statistical report from the Space Coast Association of Realtors.

The data indicates that overall the number of homes that have closed in March 2014 is up by over 25% over March 2013.  In addition, the median sales price is up by 10% to $132,000 compared to $119,900 last March.

Just these two data points indicate that now is the time to buy that new home before prices rise significantly.  In addition, short sales closings are down a whopping 47% compared to last March.  The short sale listings coming out of the market should allow a more natural supply and demand economic model to finally take hold with significant increases in values coming within the next year.

If you should have any comments concerning this data or my comments, please feel free to call me at anytime at 321-427-9560.

 

Thanks,

 

Dennis Basile, CCIM

Broker/President

D. Basile Real Estate, LLC