So we officially have good news for Brevard County homeowners! A report out from November showed positive facts concerning the Brevard County housing market. Here is what has and is happening for in the Brevard County real estate market:
• Sales of single-family homes in November rose 11.6 percent from 577 to 644 over 2012.
• Median Sales Price - jumped from $122,000 to $142,750, well over 10%.
• The number of cash deals on single family home sales were up 24.6% — from 236 to 294.
What does all this mean to Brevard County homeowners and potential buyers? We are definitely in a real estate recovery trend. The fact that we are also seeing multiple offers on properties is another strong indicator that the market is in recovery.
The reason for this news is two-fold. First the prevailing interest rates have remained low. Over my 20+ years as a real estate broker, I never thought that we would see rates under 5% again! In Brevard County, the inventory of homes has been low. The general opinion in the industry is that interest rates will go up in the next year. With that combination, the prices of Brevard County homes has gone up and it appears they will continue to rise.
What this means for Brevard County sellers is that if you have been thinking about selling your Space Coast Area Home, now is a great time to move forward with that decision.
For Buyers, if you have been toying with the idea of purchasing a Space Coast Area Home, now is the time to get off the fence and buy! I am seeing prices rising buy the month, and even if you wait 9 months to a year, my opinion is that you will pay more if you wait.
So, if you would like to explore your opinions, call me. Let's sit down and talk. Let me explain what all of your options are and let's find the best option for you!
You can reach me at 321-626-5868, let me put my expertise to work for you!
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