Tuesday, January 30, 2018

Brevard County, FL Residential Market Report December 2017

The below Brevard County, FL single family and condo market report is provided by the Space Coast Association of Realtors.  
 
Here is the summary for the Brevard County single family home market for December 2017:
  • Closed Sales are up 0.4% for December 2017 in which the number of units closed was 836 compared to 833 in December 2016, with a decrease in cash sales of -15% compared to December 2016.
  • New Pending Sales are up 3.8% and New Listings are down -1.4%.
  • The Median Sales Price for Brevard Single Family homes is up 19.3% to $227,789 compared to a year ago, which was $191,000.
  • Months Supply of Inventory is up 12.5% to 2.7 months, an increase from 2.4 months in 2016.
  • Traditional Sales are up 4%, with a median sales price of $229,500.
  • Foreclosure/REO Sales are down -49%, with a median sales price of $165,450.
  • Short Sale Closings are down -37.5%, with a median sales price of $119,000. 
A quick recap of the Brevard County Townhouses/Condos for December 2017:
  • Closed Sales are down -3.6% for December 2017 in which the number of units closed was 215 compared to 223 in December 2016, with a decrease in cash sales of -20.3% compared to December 2016.
  • New Pending Sales are down -9.9% and New Listings are down -0.5%.
  • Median Sales Price for Townhomes/Condos is up 20.7% to $175,000 compared to a year ago, which was $145,000.
  • Months Supply of Inventory is down -8.3% to 3.3 months in December 2017 from 3.6 in December 2016.
  • Traditional Sales are down -3.3%, with a median sales price of $175,000.
  • Foreclosure/REO Sales increased 12.5% with a median sales price of $116,000. 
  • Short Sale Closings are down -100%, with no sales in December 2017.
 
agent@moving2brevard.com

Saturday, January 6, 2018

The Greatest Reward of Being a For Sale By Owner (FSBO) Revealed....

I have spoken with many "experienced" for sale by owner (FSBO) folks over the past decade or so.  I believe the actual number of FSBOs I encountered was greater in the 2004-2006 real estate run up.

If you recall 2004-2005 was when everyone wanted to pay whatever just to buy a house!

When the market has buyers clamoring over each other and in bidding wars price does not matter (although appraisals did).

Still, all this market hysteria drove many sellers to go it alone.  After all, the victory in being FSBO is saving the real estate commission, right?

Studies have shown on many occasions the savings yield by FSBOs is smaller than the proceeds gained by sellers using the services of a professional Realtor.

As 2018 begns I have read articles projecting tremendous increases in home prices this year.  Who really knows for sure?

The best think a home seller can do is know the market now.  To know the current market and projected values when selling call your local real estate expert.

Lastly, as suggested by the title....

The greatest reward of being a FSBO is...the ego sees success in "I did it myself!"  

Ego seldom allows clear picture!
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