M
arch 2025 Space Coast Real Estate Market Update

    The Space Coast real estate market is shifting, and it's essential to understand the changes to make informed decisions when buying or selling. According to Nikki McCoy Freeman of McCoy Freeman Compass, "Today's market is all about preparation. Success comes down to understanding the shift, setting realistic expectations, and having the right expert by your side."

    Single-family home sales have slowed compared to last year, with prices dipping slightly to just under $363,000. However, inventory levels are rising, giving buyers more options and reducing competition. If you're a buyer, you may find opportunities to negotiate better deals or seller concessions.

    Condo and townhouse sales took a hit in March, but median prices have held steady around $309,000. Inventory has surged, marking a shift toward a buyer's market. Sellers should be prepared for increased competition, which could put downward pressure on prices.

    Key Takeaways:

    * The market is rebalancing after a fast-paced few years.

    * Buyers are gaining more control, while sellers need to adapt their strategy.

    * It's essential to have the right expert by your side to navigate today's changing market.

    Quick Stats: March 2025

    Single-Family Homes:

    * Closed Sales: Down 6.3%

    * Median Sales Price: Down 4.4% to $362,915

    * Inventory: Up 25% to 4.5 months

    Townhouses & Condos:

    * Closed Sales: Down 19.4%

    * Median Sales Price: Up 3.0% to $309,000

    * Inventory: Up 45.8% to 8.6 months

    About the Author:

    Nikki McCoy Freeman and her family have over 40 years of experience in the real estate industry, with sales exceeding $420 million and a ranking in the top 1% of all Florida Realtors.