March 2023: Brevard County - The Space Coast Housing Market Report

A quick recap of the Brevard County Residential Report for March 2023:

• Closed Sales are down -5.5% for March 2023 in which the number of units closed was 1,031 compared to 1,091 in March 2022, with an decrease in cash sales of -6.3%.
• New Pending Sales are down -6.3% and New Listings are up 0.2%.
• The Median Sales Price for Brevard Single Family homes is up 1.0% to $353,580 compared to a year ago, which was $350,000.
• Months' Supply of Inventory is up 214.3% to 2.2 months, an increase from 0.7 months in March 2022.
• Traditional Sales are down -5.7% with a median sales price of $355,000.
• Foreclosure/REO Sales are up 60.0% with 8 closed sales and a median sales price of $163,500.
• Short Sale Closings are down -100.0% with 0 closed sales and a median sales price of (no sales).

A quick recap of the Brevard County Townhouses/Condos for March 2023:

• Closed Sales are down -7.9% for March 2023 in which the number of units closed was 269 compared to 292 in March 2022, with a decrease in cash sales of -6.5%.
• New Pending Sales are down -1.5% and New Listings are up 10.4%.
• Median Sales Price for Townhomes/Condos is down -3.8% to $280,000 compared to a year ago, which was $291,000.
• Months' Supply of Inventory is up 200.0% to 3.0 months in March 2023 from 1.0 months in March 2022.
• Traditional Sales are down -8.6% with a median sales price of $280,000.
• Foreclosure/REO Sales are up 100.0% with a median sales price of $153,500.
• Short Sale Closings are N/A with 1 closed sale in March 2023 and 0 closed sale in March 2022.