π Brevard County Market Update β January 2025 π
π‘ The real estate market is shifting! Here are the key takeaways:
πΉ Absorption Rate: Up 32.89% β Homes are taking longer to sell, shifting us toward a more balanced market.
πΉ Home Prices:
Average Sale Price β¬οΈ 6.13% to $450,742
Median Sale Price β¬οΈ 5.58% to $362,000
ΒπΉ Time on Market:
Average Days on Market β¬οΈ 28.95% to 98 days
Median Days on Market β¬οΈ 36.59% to 56 days
π° Luxury Market Booming: Sales of homes $500K+ are up 21.8%!
π Mid-range homes ($300K-$399K) saw a slight dip of -13.9% in sales.
π Pending Sales Down -21.7%, signaling a slower pace ahead.
π What This Means for You:
β
Sellers: Pricing strategically is keyβhomes are taking longer to sell, but prices are holding strong.
β
Buyers: More negotiating power! With longer days on the market, you may get better deals.
Thinking about buying or selling? Let's chat! π 321-298-3733
π Serving Brevard County & Beyond!
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