B
revard County's housing market started 2025 with a boost in new listings and higher inventory levels compared to last year. Despite this, home sales continue to feel the impact of mortgage rates, home prices, and median incomes.

    The previous inventory limitations are gradually easing, offering more opportunities for homebuyers who have been waiting on the sidelines. According to Nikki McCoy Freeman of McCoy Freeman Compass, "It's a time of shifting opportunities, where expert guidance can make all the difference in navigating market changes effectively."

    Brevard County Residential Real Estate Market Update: January 2025

    Market Stability and Growth

    Closed sales increased by 0.5% in January 2025, with 584 units sold compared to 581 in the previous year. The median sales price rose by 3.6% to $385,000, indicating a stable demand and appreciation in home values.

    Stronger Cash Buyer Presence

    A significant 15.2% increase in cash sales suggests rising investor interest and confidence among cash buyers, contributing to the competitive nature of the market.

    More Inventory, More Choices

    The market experienced a 9.6% increase in new listings alongside a 26.5% rise in inventory, bringing the months' supply to 4.3, up from 3.4 months in January 2024. This expansion offers buyers more options and helps maintain a balanced market environment.

    Increased Inventory in Single-Family Homes

    The months' supply of inventory for single-family homes has increased by 26.5% to 4.3 months from 3.4 months in January 2024, providing potential homebuyers with more opportunities and choices in their search for a new home.

    Brevard County Townhouses/Condos Market Overview: January 2025

    Increased Sales Activity

    Closed sales surged by 9.8%, with 145 units sold compared to 132 the previous year. An 8.2% increase in cash sales further highlights the ongoing interest from investors and second-home buyers.

    More Inventory, More Options

    New listings rose by 11.5%, and the months' supply of inventory jumped 42.6% to 7.7 months, up from 5.4 months in January 2024. This substantial increase in inventory provides buyers with a wide array of choices and contributes to a balanced market.

    Dip in Prices

    The median sales price decreased by 4.9% to $269,250, offering more affordability and encouraging market activity.