Housing Market Update April 2021 Brevard County and Cocoa Beach Florida

How’s the market?

I am pretty sure everyone is aware of how active the market is right now. The current housing market is unlike anything we have seen for sometime. I was a Realtor with the last boom in the early 2000’s and knew it was hectic then, but I didn’t really have any data saved to compare to our market today. This is why I am tracking the numbers every month and providing updates like this to help keep you in the loop and to have some history for the next real estate cycle.The month of April did provide some data showing a slight (very slight) slow down.

Side note: Every Wednesday, I meet with my BNI Chapter; the Beeliners. I have been tracking the active inventory on Wednesday mornings because the market has been so active to help keep my colleagues up to date with what is happening in the housing market. I noticed the drop in inventory that has been pretty steep since last summer slowed just a little in April.

Graph showing active inventory in Brevard County since the end of January 2021. The figures are pulled every Wednesday morning around 7am. — MLS Data is pulled from the Space Coast Realtors MLS every Wednesday at 7am.

So, what actually happened in our Housing Market in April 2021?? Here is a breakdown of the numbers. (All of the sales stats in this post were pulled from the Space Coast MLS between May 1-May 3 2021)

Active Inventory 1054

Sold Property 1545

Months supply 0.63 months (less than 3 weeks)

Average Sales Price $353187

Median Sales Price $275000

List/Sale ratio 98.5%

Days on Market 26

Property selling in less than 7 days 830 (53% of the property)

Property selling in less than 30 days 1211 (78% of the property)

Property selling over $1M 39

Highest price sale $3.75M 9 bedroom oceanfront estate Built 2013 9837SqFt

Most sales city of Palm Bay 280

Most sales zip code 32940 132

Average age/year built 32 yrs/built 1989

Average size 1816

Average price per square foot $185.91SqFt

map view of the 39 properties to sell in Brevard County over $1M — 39 sales over $1M in the month of April 2021

Even though we had a slight pull back on property sales for the county comparing April 2021 to the previous month; it is still in line with past years trends (not including 2020) We are still seeing 1700+ new listings on the market; which is in line with past years (not including 2020). There are still multiple offers happening on most transactions. The list to sale ratio is creeping closer to 100%. More properties are selling in the first 7 days and 30 days on the market than previous months too. The only indicator I see of a slight change with our market is the active inventory is fighting to stay above the 1000 property mark.

Here is what is happening in Cocoa Beach and Cape Canaveral

Condo sales for April 2021 in Cocoa Beach and Cape Canaveral

The selection of condos in Cocoa Beach and Cape Canaveral continue to get smaller. Right now, there are 53 condos on the market for sale. The lowest price condo is at the Golden Gate Manor for $79900 & there are 3 others priced at or below $100K. There are 7 condos priced over $1M with the highest priced condo is preconstruction at the Surf. As of today, 21 of the 25 condos have been sold at this new condo in downtown Cocoa Beach. The remaining condos are priced between $1.2M and $1.550M. Let me know if you would like more information on the remaining floorplans. Here are the numbers for the month of April

Active inventory 53

Sold condos 96

Months supply 0.57 months (just over 2 weeks)

Average Price $366449

Median Price $344900

Days on Market 43

Sales per square foot $247SqFt

Property selling in less than 7 days 49

Property selling in less than 30 days 65

Condos selling under $200K 17

Highest selling condo $2.057M at the Villa Verde complex on the river in south Cocoa Beach

We have a three-way tie for the best selling condo complex in April

The Villages of Seaport in Cape Canaveral had 4 sales ranging from $185K to $248K

The Oaks in Cape Canaveral had 4 sales ranging from $140K to $294K

Stonewood Towers in Cocoa Beach had 4 sales ranging from $362K to $480K

map view of the best selling condo communities in Cocoa Beach and Cape Canaveral for April 2021 — The Oaks, The Villages of Seaport, and Stonewood Towers had the most sales April 2021

If you would like more info on any of these sales, just let me know!

Single Family Homes Cocoa Beach and Cape Canaveral Florida

Single family homes available for sale in Cocoa Beach and Cape Canaveral are up slightly over the month of March. There are 22 homes for sale ranging in price from a 3 bedroom pool home in Cape Canaveral for $425K (which was previously listed for $400K…) to an amazing ocean front estate near 3rd St South Cocoa Beach for $4.699M. Right now, only 4 homes are priced under $500K in Cocoa Beach and Cape Canaveral.

Active inventory 22

Sold Homes 20

Months Supply of inventory 1.1 months

Average Sales price $992795

Median Sales price $970000

Sales per square foot $358SqFt

Days on Market 50

Property selling in less than 7 days 9

Property selling in less than 30 days 12

Homes selling under $500K 2

Homes selling over $1M 9

I should include an * by the number of home sales and number of sales over $1M. The new community Laurham Village in south Cocoa Beach closed 6 of the Villas in April. They were priced between $970K -$1.395M. Even without looking at the new construction sales, April had an impressive 4 home sales over $1M. The highest priced sale was at 217 S Atlantic ave for $1.8M, which was a 1949 built home that has been modified over the years to the current 4 bedroom 2400SqFt floor plan on a .58 acre lot.

New construcion home community should be breaking ground soon. — Laurham Village should be breaking ground soon!

Our real estate market has been pretty active since 2012 and has been amplified over the last 12 months. I sent an email survey asking “What’s your prediction for the market?”

Do you think:

We’re just seeing the beginning of the real estate boom
We’re towards the end and the market will stabilize
We’re headed towards a real estate crash

Here are the results:

60% of the people who answered the poll believes we are at the beginning of a Boom. Less than 7% feel the market is about to crash. — Results from the poll I sent out via email in April 2021

If you didn’t participate in this survey and would like to provide your prediction, I would love to hear from you! You can either call or text Eric Larkin with REMAX Aerospace at 321-795-1854 or leave your comment here https://cocoabeachinsider.com/contact/

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

Cocoa Beach Insider

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