Brevard County Market Report June 2007

I posted a recent article on the Viera housing market. Actually a summary of sales from June 15 through July 15, 2007.  Well, today's Florida Today newspaper carried another front page article regarding the market.  Another gloom and doom article? Not really, just mostly facts. Although you would not know it from the headline there were tidbits of some positive news buried underneath the headline. Of course there are many who get the news from the headlines only!

The article headline touts a drop in housing prices of 15% over a year ago and, more importantly, the drop was the largest of any metropolitan area in the state! Oh my! For Brevard County the median price of houses sold in June was $198,000 down from June 2006. On the positive side the median price was UP 4% FROM THE MAY 2007 price.

What is the bottom line? People are still buying and selling homes. So, although the median price dropped over the one year period, the increase from May to June is a positive. As for my business I have had more activity from buyer's over the past month or so than any time this year so far. As for homes for sale I have a manageable number listed at realistic prices. Knowledgeable motivated sellers, reasonable prices, and willing buyers... the right ingredients for a market will grow!