Market Data for April 2009
After completing my market analysis for April, I continue to see that Brevard County remains one of the best values in coastal florida. Between the rivers, and the beaches, where else can you enjoy such a high quality of life, and pay such a reasonable price for a house?
Check this out! 80% of the sales of single family residences in the month of April are under $200,000. That means that home pricing has presented an opportunity for more people to achieve the dream of home ownership.
While the low priced sales get the majority of the attention, we are still experiencing many move up buyers, and first time buyers in the $200,000 to $500,000 range. With 98 sales in this range, many are finding outrageous bargins that simply can not be passed.
Looking at the stats for April, cash is still king! 35% of buyers in April chose to pay cash for the property. This is a good thing; this means that people are looking at the real estate in our market and saying that the prices are so low, it is worth risking their cash to purchase the property. In years past, roughly 10% of purchases were done with cash.
One of the biggest misconceptions is that there is no financing and lending available right now. I am here to tell you that is just not the case. With the overwhelming majority of 64% of the transactions being financed, you may clearly see that money is available. Not only that, the money is cheap! Buyers have been getting historically low interest rates.
As a professional living and working in Brevard County, it is great to see home prices that are affordable to many. It has been said many times over that in times of disparity there is opportunity. Right now you can buy a house at a deep discount, at historically low interest rates, to give you one outstanding opportunity! If you have the means to purchase a home, there is truly no better time than right now.