Brevard County Real Estate Market Recap: Annual 2024
As we step into a new year, it’s essential to reflect on how the Brevard County real estate market performed in 2024. Whether you're planning to buy, sell, or simply stay informed, these insights can help you understand current trends and make informed decisions.
Single-Family Homes Market Overview
Closed Sales: Down -2.3%, with 10,152 units sold compared to 10,396 in 2023.
Median Sales Price: Up +5.0%, rising to $379,125 from $361,000 last year.
Months’ Supply of Inventory: Increased by +25.0% to 4.0 months, up from 3.2 months in 2023.
Cash Sales: Declined by -9.8%.
Additional Insights:
Traditional Sales: Decreased by -2.6%, with a median sales price of $379,900.
Foreclosure/REO Sales: Increased significantly by +45.1%, with 74 closed sales and a median price of $246,000.
Short Sales: Rose by +33.3%, with 8 closed sales at a median price of $295,000.
Townhouses/Condos Market Overview
Closed Sales: Down -9.3%, with 2,346 units sold compared to 2,587 in 2023.
Median Sales Price: Slightly decreased by -1.3%, settling at $295,000 compared to $299,000 last year.
Months’ Supply of Inventory: Increased by +44.9% to 7.1 months, up from 4.9 months in 2023.
Cash Sales: Dropped by -13.8%.
Additional Insights:
Traditional Sales: Declined by -9.3%, with a median sales price of $295,000.
Foreclosure/REO Sales: Remained steady, with 9 closed sales and a median price of $167,000.
Short Sales: Decreased by -100.0%, with no closed sales in 2024.
What Does This Mean for You?
The market is experiencing shifts, including increased inventory and evolving pricing trends. These changes can offer opportunities for both buyers and sellers, but navigating the market requires expertise. If you’re considering selling your home, this could be the perfect time to explore your options.
Get a FREE Home Evaluation!
Curious about your home’s current value in today’s market? I’m offering a FREE Home Evaluation to help you understand where your property stands. Whether you’re ready to sell or just want to know your home’s value, this no-obligation service is a great first step.
📞 Call me at 321-298-3733
📧 Email me at homebuildingkaren@gmail.com
🌐 Visit karenreichert.com to get started today!
Let’s make 2025 the year you achieve your real estate goals. I’m here to guide you every step of the way!