B
revard Real Estate Report: Single-Family Home Listings Rise Amid Slower Price Growth

    In October, Brevard's housing market saw an increase in inventory levels and a moderation in statewide median prices compared to the previous year.

    According to Nikki McCoy Freeman of McCoy Freeman Compass, "With more homes available and slower price increases, it's a positive trend for homebuyers who now have more opportunities to enter the market." Additionally, lower mortgage interest rates make homeownership more affordable.

    In October, closed sales of existing single-family homes in Brevard County totaled 18,671, reflecting a 5.6% decrease year-over-year. Sales of existing condo-townhouse units reached 6,499, a 19.9% decline compared to October 2023.

    The median sales price for single-family existing homes was $383,900, a 6.6% increase from the previous year's median of $360,000. For condo-townhouse units, the median price was $277,500, down 7.5% from $300,000 in October 2023.

    Brevard saw a 4.1-month supply of single-family homes in October, marking a 36.7% year-over-year increase. For condo-townhouse units, there was a 6.6-month supply, up 53.5% compared to the previous year.

    Key statistics for Brevard County Residential Report for October 2024 include:

    - Closed Sales: down -1.0%

    - New Pending Sales: down -12.0%

    - New Listings: down -10.2%

    - Median Sales Price (Single Family): up 6.6% to $383,900

    - Months' Supply of Inventory (Single Family): up 36.7% to 4.1 months

    Key statistics for Brevard County Townhouses/Condos for October 2024 include:

    - Closed Sales: down -21.8%

    - New Pending Sales: down -15.2%

    - New Listings: down -18.5%

    - Median Sales Price (Townhouses/Condos): down -7.5% to $277,500

    - Months' Supply of Inventory (Townhouses/Condos): up 53.5% to 6.6 months