Brevard County, fondly known as Florida's Space Coast, is increasingly becoming a haven for retirees. Its unique blend of tranquil, scenic beauty, coupled with a vibrant community and affordable
Surging Buyer Demand: A Snapshot of the Brevard County Real Estate Market
Dated: January 23 2024
In the dynamic Brevard County real estate market, a significant change is happening. The data speaks for itself: buyer demand in Brevard County is on the upswing. This shift is driven by two key factors: decreasing mortgage rates and a notable increase in the number of homes available for sale. As a result, buyers who were previously hesitant to jump into the mix are now taking action. Let's take a closer look at the numbers and uncover why this is such an exciting time for anyone considering buying or selling property in the Brevard County area.
Brevard County at a Glance
As of November 30, 2023, Brevard County boasts an impressive real estate market. Here's a snapshot of key statistics:
- For Sale Inventory: 3,567 homes are currently available, offering a wide range of options for prospective buyers.
- New Listings: In November 2023 alone, 1,073 new listings hit the market, signaling a healthy influx of available properties.
- Median Sale Price: As of October 31, 2023, the median sale price stood at $333,917, reflecting the overall value of homes in the area.
- Median List Price: With a median list price of $373,300 as of November 30, 2023, the market remains competitive while offering affordable options.
- Percent of Sales Over List Price: An impressive 16.0% of sales in October 2023 went above the list price, indicating strong demand and competition among buyers.
- Percent of Sales Under List Price: With 65.9% of sales under list price, there's still room for negotiation, making it a favorable climate for buyers.
- Median Days to Pending: Properties are going pending within a median of 23 days, showcasing the efficiency of the market.
Satellite Beach: A Market to Watch
While the entire Brevard County market is flourishing, Satellite Beach deserves special attention. As a beloved coastal community, it offers a unique perspective on the region's real estate trends:
- For Sale Inventory: With 102 homes available as of November 30, 2023, Satellite Beach provides diverse housing options for prospective residents.
- New Listings: A notable 30 new listings emerged in November 2023, demonstrating a vibrant and active market.
- Median Sale Price: At $482,483 as of October 31, 2023, the median sale price underscores the desirability of homes in Satellite Beach.
- Median List Price: With a median list price of $608,300 as of November 30, 2023, Satellite Beach presents a range of opportunities for buyers.
- Percent of Sales Over List Price: A striking 13.5% of sales in October 2023 surpassed the list price, showcasing the appeal of this charming beachside community.
- Percent of Sales Under List Price: Remarkably, 81.2% of sales occurred under list price, indicating a favorable market for savvy buyers.
These numbers represent a growing demand for homes in Brevard County and Satellite Beach. But what's driving this surge in buyer demand?
Why is Buyer Demand Increasing?
Several factors contribute to the heightened buyer demand in Brevard County:
Affordability: Brevard County offers a diverse range of homes at varying price points, making it accessible to a wide range of buyers.
Quality of Life: The county's stunning natural beauty, outdoor recreational opportunities, and access to pristine beaches are alluring to those seeking an exceptional quality of life.
Strong Job Market: Brevard County's economy is robust, with employment opportunities in industries such as aerospace, technology, and healthcare.
Investment Potential: The area presents promising investment opportunities, attracting both primary residence seekers and investors.
Your Real Estate Partner in Brevard County
Whether you're a buyer looking to take advantage of this surging demand or a seller aiming to maximize your property's value, Realty World Curri Properties is your trusted partner. Our team of experienced real estate professionals has a deep understanding of the Brevard County market and can help you navigate these exciting opportunities.
Don't miss out on the thriving Brevard County real estate scene. Contact us today for more information and expert guidance.
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