Welcome to Brevard County's housing update for June 2023!
Heith Mohler
Tuesday, July 25, 2023
Welcome to Brevard County's housing update for June 2023! Last month, the number of closed sales declined by 7.7%, with 1,018 units sold compared to 1,103 in June 2022. Additionally, cash sales decreased by 13.2%. New pending sales also saw a decrease of 6.6%, and new listings were down by 23.7%. The median sales price for Brevard Single Family homes experienced a slight dip of 0.7%, currently standing at $365,000 compared to $367,525 last year. Moreover, the months' supply of inventory increased by 46.7%, reaching 2.2 months in June 2023, up from 1.5 months in June 2022. Traditional sales were down by 7.8%, with a median sales price of $365,000. On the other hand, foreclosure/REO sales rose by 50%, accounting for 6 closed sales with a median price of $172,500. Short sale closings, unfortunately, showed no activity during June 2023.
As for townhouses and condos, we noticed a 12.1% decrease in closed sales, with 248 units sold compared to 282 in June 2022. Cash sales for this category also saw a decline of 11.3%. However, there was some positive news as new pending sales increased by 2.8%, although new listings were down by 15.5%. The median sales price for townhomes/condos in Brevard County rose by 5.9% to $301,950 from $285,000 a year ago. The months' supply of inventory saw a significant increase of 113.3%, reaching 3.2 months in June 2023, up from 1.5 months in June 2022. Similar to single-family homes, traditional sales for townhouses/condos were down by 11.7%, with a median sales price of $301,950. On a positive note, there were no foreclosure/REO sales recorded in June 2023. Lastly, short sale closings remained at zero for both June 2023 and June 2022.
Stay informed with our comprehensive monthly, quarterly, and yearly reports on Brevard County's real estate market, available on our website. Whether you're looking to buy or sell, our data-driven insights will help you make informed decisions for your next real estate venture.
As for townhouses and condos, we noticed a 12.1% decrease in closed sales, with 248 units sold compared to 282 in June 2022. Cash sales for this category also saw a decline of 11.3%. However, there was some positive news as new pending sales increased by 2.8%, although new listings were down by 15.5%. The median sales price for townhomes/condos in Brevard County rose by 5.9% to $301,950 from $285,000 a year ago. The months' supply of inventory saw a significant increase of 113.3%, reaching 3.2 months in June 2023, up from 1.5 months in June 2022. Similar to single-family homes, traditional sales for townhouses/condos were down by 11.7%, with a median sales price of $301,950. On a positive note, there were no foreclosure/REO sales recorded in June 2023. Lastly, short sale closings remained at zero for both June 2023 and June 2022.
Stay informed with our comprehensive monthly, quarterly, and yearly reports on Brevard County's real estate market, available on our website. Whether you're looking to buy or sell, our data-driven insights will help you make informed decisions for your next real estate venture.
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