January 2025 Brevard County Market Snapshot - RE/MAX Elite
A quick recap of the Brevard County Residential Report for January 2025:
Closed Sales are up 0.5% for January 2025 in which the number of units closed was 584 compared to 581 in January 2024, with an increase in cash sales of 15.2%.
New Pending Sales are down -0.9% and New Listings are up 9.6%.
The Median Sales Price for Brevard Single Family homes is up 3.6% to $385,000 compared to a year ago, which was $371,583.
Months' Supply of Inventory is up 26.5% to 4.3 months, an increase from 3.4 months in January 2024.
Traditional Sales are up 1.2% with a median sales price of $385,000.
Foreclosure/REO Sales are down -33.3% with 4 closed sales and a median sales price of $212,500.
Short Sale Closings are down -100% with 0 closed sales and a median sales price of (no sales.)
These statistics reflect positive trends and challenges in Brevard County’s Residential real estate market:
Market Stability & Growth – A 0.5% increase in closed sales, along with a 3.6% rise in median sales price, signals steady demand and rising home values.
Stronger Cash Buyer Presence – A 15.2% jump in cash sales suggests increased investor interest and buyer confidence in the market.
More Inventory, More Choices – A 9.6% increase in new listings and a 26.5% rise in inventory (4.3 months supply) offer more opportunities for buyers while keeping competition balanced.
Decline in Distressed Sales – A 33.3% drop in foreclosure sales and zero short sale closings highlight a healthier market with fewer distressed properties.
While new pending sales dipped slightly, the overall market trends suggest continued strength and resilience in Brevard County’s housing sector, benefiting homeowners, buyers, and the local economy.
A quick recap of the Brevard County Townhouses/Condos for January 2025:
Closed Sales are up 9.8% for January 2025 in which the number of units closed was 145 compared to 132 in January 2024, with an increase in cash sales of 8.2%.
New Pending Sales are 0.0% and New Listings are up 11.5%.
The Median Sales Price for Brevard Townhouses/Condos is down -4.9% to $269,250 compared to a year ago, which was $283,100.
Months' Supply of Inventory is up 42.6% to 7.7 months, an increase from 5.4 months in January 2024.
Traditional Sales are up 8.3% with a median sales price of $269,250.
Foreclosure/REO Sales are N/A with 2 closed sales and a median sales price of $372,500.
Short Sale Closings are N/A with 0 closed sales and a median sales price of (no sales.)
These statistics highlight key trends in Brevard County’s Townhouse/Condo market for January 2025:
Increased Sales Activity – Closed sales jumped 9.8%, indicating strong demand, while cash sales rose 8.2%, showing continued investor and second-home buyer interest.
More Inventory, More Options – New listings rose 11.5%, and inventory increased 42.6% to 7.7 months’ supply, providing buyers with more choices and balancing the market.
Slight Dip in Prices – The median sales price fell 4.9% to $269,250, which may create more affordability for buyers while encouraging market activity.
Stable Pending Sales – With new pending sales remaining flat (0.0%), the market is holding steady, reflecting a wait-and-see approach from buyers and sellers.
Minimal Distressed Sales – Foreclosures and short sales remain low, signaling a healthy and stable condo market with fewer financial hardships.
Overall, the Brevard condo/townhouse market is expanding with more inventory and steady demand, making it a promising time for both buyers and sellers!
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