Home prices are rising and today’s mortgage holders are reaping the rewards. A reward of nearly $457 billion collectively, to be exact.According to Corelogic’s 2019 3rd Quarter Homeowner
How Far Does Your Money Go In Brevard?
You might be surprised just how much your dollar can buy in a beautiful beach-side community like Brevard County. In fact, some of the best deals on great properties can be found right here.
Current Brevard County Housing Market
Purchasing a home is a big investment and everyone wants to get the most for their money. Brevard County is an ideal place to call home and it offers some great deals on superb properties. The median home value in Brevard County is $157,000 and the median sale price is $161,900. This is a 10% increase from last year. According to conservative Zillow predications, the market is expected to gain another 3% this year. People often worry about buying a home at the top of the market. We all saw what happened between late 2006 and 2012 when home values went from the highest highs to some of the lowest lows. Looking at a chart of home values in Brevard County over the last 10-years it’s clear to see we have not gotten anywhere near the highs experienced in 2005-06. As a result, it is still very safe to invest in property while expecting values to grow. See chart here
Over 20% of houses in Brevard are considered ‘healthy’ meaning homeowners owe less on the home than it is worth and are up to date on mortgage payments. Only 6.5% of homes in the area are delinquent on their mortgage, and 16.8% of homes have negative equity. Making a smart purchase that is within your budget helps ensure you don’t get underwater on your home. That’s where an experienced and savvy real estate agent is very beneficial to helping you find a home that won’t cause you financial hardships down the road.
What Will $160,000 Get You In Brevard County?
Considering the median sale price for homes in Brevard County falls around $160,000 you are likely wondering just exactly what that dollar amount will get you. The median home price in the US is $188,900, so people are often surprised just how much house they can get for less than that in Brevard. Current listings around this price include this lakefront home in Satellite Beach listed for $169,900. The 1,425 square feet, 2-story townhome has a 1-car attached garage, 2 beds, 2 ½ baths, and a community center with swimming pool and tennis courts. There is a 30-ft boat lift on the property which is perfect considering it is only 1 mile from the ocean and includes access to a canal leading into the banana river. If you are willing to live just a little further from the ocean without direct boat access you could get this awesome 3-bed, 2-bath home in Palm Bay for $120,000, even less than the median sale price. The single-story home was built in 2005 with 1646 square ft. of living space and an attached 2-car garage.
What Will $370,000 Get You In Brevard County?
If you’re looking to spend around $350-$400k you will get even more house for your buck. A $369,000 lakefront home in Melbourne is packing 5-beds, 3 ½ baths and 3,511 square feet of livable space. As if the lake isn’t enough, the home also has a private pool. Built in 2001, the 2-story single-family home is just minutes from the beach as well as Viera Avenue shops. This corner-lot home is upgraded generously with crown moldings throughout, granite kitchen counter-tops, a brand new insulated garage and more. Plus, the views from the dinning area are breathtaking as the large windows overlook the glistening lake.
Your Money Goes Far In Brevard - You don’t have to be a millionaire to enjoy life’s luxuries, like having your own swimming pool, boat dock or even living within walking distance to the beach. Certain parts of the country are affordable because it snows half of the year or you are at constant risk of being taken out by a tornado, or perhaps because homes are located in the middle of nowhere. You don’t have to make any of these risks or sacrifices in Brevard County, while still enjoying a great deal on a beautiful home.
Find Your Dream Home In Brevard - There are many homes for sale in Brevard County at every price point. You can get a great home for $120,000 or a massive masterpiece for $1 million +. Regardless of your budget there’s a perfect home for you in Brevard County, allow Curri Properties to help you find it!