Inventory is rising in Brevard County, which means buyers have more leverage and sellers need to be more careful when pricing their homes.
What’s the latest news from our Brevard County market? Let’s look at some year-over-year statistics for single-family homes.
For several years now, prices have been rising, and the average sale price at the end of 2018 was $272,000—a full 7% higher than in 2017. Currently, there are 3,038 single-family homes on the market, which is a 29% increase compared to 2017. This bump in inventory has caused the average days on market for single-family homes to increase by about six days.
“If you’re a buyer, this shift means you have more leverage when dealing with sellers. ”
Moving forward, I predict that inventory will continue to increase—not just for single-family homes, but also for condos and townhomes. If you’re a seller, you need to take this into consideration when pricing your home. Buyers have more homes to choose from, so it’s important that you not overprice yours. If you’re a buyer, this shift means you have more leverage when dealing with sellers.
If you have any more questions about our market or you have any other real estate needs I can take care of, don’t hesitate to reach out to me. I’d be happy to help you.