May 2023: Brevard County - The Space Coast Housing Market Report
A quick recap of the Brevard County Residential Report for May 2023:
- Closed Sales are up 0.6% for May 2023 in which the number of units closed was 1,060 compared to 1,054 in May 2022, with an decrease in cash sales of -7.5%.
- New Pending Sales are down -11.7% and New Listings are down -14.2%.
- The Median Sales Price for Brevard Single Family homes is down -0.9% to $371,450 compared to a year ago, which was $375,000.
- Months' Supply of Inventory is up 90.9% to 2.1 months, an increase from 1.1 months in May 2022.
- Traditional Sales are up 0.6% with a median sales price of $371,950.
- Foreclosure/REO Sales are up 33.3% with 4 closed sales and a median sales price of $280,000.
- 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 May 2023:
- Closed Sales are up 1.8% for May 2023 in which the number of units closed was 276 compared to 271 in May 2022, with an increase in cash sales of 2.7%.
- New Pending Sales are down -8.4% and New Listings are up 3.0%.
- Median Sales Price for Townhomes/Condos is down -1.2% to $296,500 compared to a year ago, which was $300,000.
- Months' Supply of Inventory is up 181.8% to 3.1 months in May 2023 from 1.1 months in May 2022.
- Traditional Sales are up 1.5% with a median sales price of $299,000.
- Foreclosure/REO Sales are N/A with a median sales price of $175,000.
- Short Sale Closings are N/A with 0 closed sales in May 2023 and 0 closed sales in May 2022.
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Lew & Tina Veltri
Veltri Group of Brevard
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