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Patrick AFB - Brevard County FL - Real Estate Market Report: UPDATED 4/1/10
 
UPDATED 4/1/10

 
 


 
 
Recent History of Home Values In Brevard County FL, "Florida's Space Coast":
 
Brevard County like most of the country has not been immune to the decline in home prices. Distressed properties put a lot of downward pressure on home prices. From the peaks in 2005 to the end of first quarter of 2010 the median price for residential property has declined 52%*. After prices remained relatively stable throughout 2009, prices appeared to have taken a dip the past two quarters, although not as sharply as in the past few years. Is this a sign that we have not hit bottom yet? It may be. There are still many distressed properties on the market and that doesn’t seem to be slowing down. We’ll know in the next six months if these recent declines are a small blip or part of another trend of declining prices.
The number of residential properties sold in the first quarter of 2010 was 1383, that compares to 1429 from the first quarter of 2009, that is a decrease of 3.2%.
*Chart data from Brevard County MLS: Sold; Residential
 
ABSORPTION RATE is a calculated ratio that can show you ... more

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