Housing Market Update February 2021 Brevard County and Cocoa Beach Florida

Housing Market Update February 2021

Here is the YouTube video for the 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.

14 month graph showing the decline of active inventory in our housing market in Brevard County Florida — The last 12 months active inventory numbers Brevard County Florida

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

sunrise in cocoa beach with a text overlay list price/sales price ratio 96.5% — Homes are selling on average 96.5% of list price

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.

Sunrise as seen from 14th St south Cocoa Beach. Text overlay Active condos 79 — February 2020 we had 209 condos for sale. February 2021 we have 79 condos for sale.

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.

map view of Cocoa Beach and Cape Canaveral Florida showing the 59 condo sales for February. Highlighting the Oaks condo in Cape Canaveral — The Oaks in Cape Canaveral had 4 condos sell February 2021

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

Cocoa Beach skyline view as seen from the Cape Canaveral Hospital. — We have 18 homes for sale in Cocoa Beach and Cape Canaveral Feb 2021 compared to the 55 for sale February 2020.

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

Social links are below if you want to send a DM or connect there

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