2018 we saw a little shift in the real estate market in Brevard County. Inventory was steadily creeping up. Sales started to flatten out in the fourth quarter. January we had our slowest month in years…under 780 closings for the county. Our supply of property jumped to over 4200 properties or a 5 month supply. All indicators pointed to our seller’s market transitioning quickly into a buyers market.
The Spring market shifted things back to a seller’s market and our 2nd quarter was quite active. Inventory has been on a decline since January and we are currently at 3578 properties for sale and June had our months supply for the county at under 3 months for Brevard County. So, our real estate market in the county is very active right now!
What is happening in the Cocoa Beach area?
Our single-family home sales are up significantly in the second quarter compared to 2018. There were 51 homes that have sold from April to June 2019 in Cocoa Beach and Cape Canaveral compared to 38 that sold in 2018. Sale prices this quarter ranged from $192,500 to $825,000; with the average sales price of $436,342 and the median price of $409,000. The average sales per square foot price was $237.
Most of the home sales occurred off Minutemen Causeway in the River Isles subdivisions with a price range from $362K to $630K. All 5 of these homes were the canals on either side of Minutemen Causeway.
Condos sales have slowed down in the second quarter of 2019 versus 2018. We had 168 condos close in 2019 versus the 192 that sold in 2018. The price range of condo sales ranged from $53,000 to $955,000. The average condo price was $295,707 and the median price of $260,000. The average sales per square foot price was $218.
Leading the condo sales during the second quarter in Cocoa Beach is new construction. It has been a few years since a new project has started and we are seeing condos closing and occupancy at the Flores De La Costa located on the beach just north of the Cocoa Beach Pier had 10 units in the complex close. This 5 story building consists of 14 condos that are range in size from a 2 bedroom & 2 bath condo that is 1133 square feet to a 4 bedroom & 3 bath condo that is 2460 square feet. The price range of the sold condos in the complex range from $324900 for a second floor 2 bedroom condo to $955000 for the 3 bedroom 3 bath fifth-floor penthouse. The condo was developed by Dorough Brothers Properties & Charles Boyd Construction. The listing Broker for the development was Sand Dollar Realty. Curious to see what is still available for sale in this complex? This link will take you any available units for sale. http://bit.ly/FloresDeLaCosta
Right behind the Flores De La Costa complex for condo sales was the Village of the Seaport with 9 condos ($130000-$256000) and Stonewood Towers with 6 condo sales ($346000-$770000)
Curious to see any of the homes or condos that are for sale in the Cocoa Beach area? Your search starts at http:www.EricLarkin.com If you want to know what your Cocoa Beach property could be worth, you can find out by visiting:
You can always call Eric Larkin with REMAX Solutions at 321-795-1854 with any questions you might have about our real estate market or simply comment on this post.
About the author:
Eric Larkin is a Broker Associate with REMAX Solutions. He lives, works, and plays in the Cocoa Beach area. Eric has been helping buyers and sellers with their real estate needs since becoming a real estate agent in 2003. His focus is always on helping, answering your questions, and doing everything possible to make certain you have a smooth transaction from beginning to end.
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