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Patrick AFB - Brevard County FL - Real Estate Market Report: UPDATED 7/1/11
 
This article is part of "The Patrick AFB Online Relocation Package".
   

UPDATED 7/1/11
 
 









Home Values In Brevard County FL, "Florida's Space Coast":
Distressed properties (foreclosures / short sales) continue create downward pressure on home prices. From the peak prices in 2005 to the end of 2nd quarter of 2011 the median price for residential property has declined by about 54%*.
 

 
The second quarter showed a 22% increase in the median price for homes sold compared to the first quarter of this year. That increase was that sharpest increase in many years. Although on the surface this is a positive development, much of that increase can be attributed to the decrease in the number of distressed properties that were sold in the second quarter, compared to the first. 53% of the homes sold in the first quarter were distressed properties and only 45% of the homes sold in the second quarter were distressed.
 
 
ABSORPTION RATE is a calculated ratio that can show you the relationship between supply and demand.  It is calculated by the total number of homes for sale at the end of the ... more

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