Housing Market Update February 2021
How’s the market?
How low can we go? Unfortunately for any buyer that is looking to purchase a home, this is aimed at inventory & selection, and not price…The active inventory continues to drop and the sales are well above February 2020 numbers. Active inventory is currently 1305 for the county compared to 3227 active listings February 2020. The number of sold properties for the county were 1229 versus 1070 for February 2020. It is going to be a very interesting Spring market.
Here is a breakdown of our stats for February 2021
All of Brevard County
Active inventory 1305
Sold property 1229
Average Price $295,912
Median Price $255,000
List/Sale ratio 96.5%
Days On Market 37
Property selling in less than 7 days 490
Property selling in less than 30 days 758
Property selling over $1M 12
Highest price sale $1.299M Melbourne Beach oceanfront in Aquarina
Most Sales city of Palm Bay 233
Most sales zip code 32940 105
Average age/year built 29 years 1992
Average size 1700SqFt
Average price per SqFt $171
Cocoa Beach & Cape Canaveral
The condo market is starting 2021 pretty active too. Right now, we have 73 condos available for sale in Cocoa Beach and Cape Canaveral. Prices range from $82,900 for a 338 SqFt condo in the Golden Gate Manor in Cape Canaveral to $1.550M pre-construction price for the Surf Condominiums that are just breaking ground for construction.
Here are the stats for February 2021 for Condos in Cocoa Beach & Cape Canaveral
Active inventory 79
Sold condos 59
Average Price $319,533
Median Price $305,000
List/Sale ratio 96.7%
Days On Market 45
Property selling in less than 7 days 17
Property selling in less than 30 days 32
Condos selling under $200K 16
Lowest priced condo sold for $99K in the Cape Canaveral Beach Garden complex in Cape Canaveral. The highest priced condo sold for $925000 in the Michelina condominium in North Cocoa Beach.
The best selling condo complex had 4 sales. The Oaks in Cape Canaveral. Selling between $164K to $235K
Single Family homes Cocoa Beach & Cape Canaveral
The active inventory for single family homes in Cocoa Beach and Cape Canaveral is at 18 homes for sale. Price range on the homes for sale are $400,000 for a 1958 beach bungalow in Cape Canaveral to a $3M 2200SqFt oceanfront home in south Cocoa Beach.
Here are the stats for February 2021
Active inventory 18
Sold homes 11
Average Price $528,772
Median Price $450,000
List/Sale ratio 96.2%
Days On Market 81
Property selling in less than 7 days 3
Property selling in less than 30 days 5
Homes selling over $1M 1 ($1.138M oceanfront in Cape Canaveral)
Homes selling under $500K 5
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 REMAX Aerospace. 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
Social links are below if you want to send a DM or connect there