Wednesday, February 10, 2016

Are There Any Short Sales in Brevard County, Florida in 2016?

A short sale occurs when real estate is offered for less than the monies owed on the mortgage.  These sales are commonly referred to as distressed sales or third party approval required sales. 

Short sales were really a common occurrence several years ago in Brevard County, Florida.

In 2016 short sales happen but are less common.

The following analysis of single family home sales (by type of sale) for January 2016 was produced based on the sales recorded in the Brevard MLS system as of February 8, 2016.

Of the 658 total number of homes sold in January 2016 (percentages rounded):

  15  Short Sales (2%)
115  Foreclosure (18%)
528  Standard sales (80%)

Currently there are 1340 homes either contingent or pending (percentages rounded).  The percentage breakdown by type of sale for these properties is very similar to the January sales:

  86  Short Sales (6.5%)
193  Foreclosure (14.5%)
1061 standard sales (79%)

Currently there are 2,188 active single family listings in Brevard County (as of February 8, 2016).  The make up of these sales is:

    40 Short Sales  (2%)
  146 Foreclosure  (7%)
2002 Standard sales  (91%)

For information on buying a home in Brevard County, Florida, call/text me at 321-693-3850.    If you are considering a short sale, let me help!