Housing Market Update January 2021 Brevard County and Cocoa Beach Florida

Housing Market Update January 2021

Housing Market update Video

How’s the market?

The housing market is starting the year at a fast and aggressive pace. First time I have seen over 1000 sales for the month of January. Multiple offers are expected. It is not uncommon for a property to sell in the first couple of days. We haven’t even hit our Spring market yet…This is just the beginning for 2021…

Graph showing the number of sales in Brevard County. Info was taken from the Space Coast Association of Realtors MLS on 2.6.2021 — January Sales Since 2010. Source of this and all the MLS stats are from the Space Coast Association of Realtors MLS. Data was pulled 2.6.2021

Here is a breakdown of our stats for January 2021

All of Brevard County

Active inventory 1579

Sold property 1034

Average Price $300,504

Median Price $256,000

List/Sale ratio 96.67%

Days On Market 37

Property selling in less than 7 days 377

Property selling in less than 30 days 648

Property selling over $1M 10

Highest price sale $1.650M Riverfront home in Cape Canaveral

Most Sales city of Palm Bay 210

Most sales zip code 32940 87

Average age/year built 29 years 1992

Average size 1744SqFt

Average price per SqFt $191.79

City of Palm Bay leads the county with sales in January 2021. The 32940 zip code is the most active zip code in Brevard County

Cocoa Beach & Cape Canaveral

The condo market is starting 2021 pretty active too. Right now, we have 103 condos available for sale in Cocoa Beach and Cape Canaveral. Prices range from $94,900 for a 338 SqFt condo in the Surf-N-Sun condo in Cocoa Beach to the 10,000SqFt penthouse in the Villa Verde condominium in South Cocoa Beach listed for $2.997M.

map view of the active condos in Cocoa Beach as of February 6, 2021. — Map view of the active condos in Cocoa Beach.

Here are the stats for January 2021

Active inventory 103

Sold condos 54

Average Price $326,025

Median Price $289,000

List/Sale ratio 96%

Days On Market 58

Property selling in less than 7 days 10

Property selling in less than 30 days 22

Condos selling under $200K 12

Lowest priced condo sold for $78K in the Golden Gate Manor complex in Cape Canaveral. The highest priced condo sold for $975000 in the Riomar complex in south Cocoa Beach.

Beach view of the RIOMAR Condo in South Cocoa Beach — 5th floor condo in the Riomar sold for $975000

The best selling condo complex had 3 sales. The Royal Towers had 3 sales between $263K-$345K and the Summer Wind had 3 sales between $242K-$550K.

The best selling condo complex’s for January 2021

Single Family homes

The active inventory for single family homes in Cocoa Beach and Cape Canaveral is at 27 homes for sale. Price range on the homes for sale are $339,000 for a fixxer upper pool home in Cape Canaveral to a $3M 2200SqFt oceanfront home in south Cocoa Beach.

Here are the stats for January 2021

Active inventory 27

Sold homes 8

Average Price $651,750

Median Price $475,000

List/Sale ratio 99.5% (pretty much list price or above)

Days On Market 21

Property selling in less than 7 days 4

Property selling in less than 30 days 6

Homes selling over $1M 1

Homes selling under $500K 4

As you can see, the market is definitely active and favoring sellers. For the next several months, or until inventory catches up to the demand; expect to be in multiple offer situations and for homes to be selling at or above the listing price. If you have questions about what this means for you, I am happy to answer any questions you may have and to discuss strategy. You can give me a call or text 321-795-1854 or fill out the info box below.

Eric Larkin is a Broker Associate with Real Broker, LLC. He lives, works, and plays in the Cocoa Beach area. If you have questions about moving or relocating to Cocoa Beach and the Space Coast, let me know! I get calls, texts, direct messages & comments on my posts every day about the real estate market and things that are happening in Cocoa Beach and the Space Coast that I love answering. Ask me your questions on moving, relocating here, or anything about the community. I am here to help. I have been helping buyers and sellers with their real estate needs since becoming a real estate agent in 2003. My focus is always on helping, answering your questions, and doing everything possible to make certain you have a smooth transaction from beginning to end.

What questions do you have about buying or selling a home? Contact Me

Call/Text 321-795-1854

Email Eric@EricLarkin.com

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