Inventory is rising in Brevard County, which means buyers have more leverage and sellers need to be more careful when pricing their homes.
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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.
