Housing Market Update June 2021 Brevard County and Cocoa Beach Florida

Housing Market Update June 2021 Brevard County & Cocoa Beach Florida

How’s the market???

Our market is still crazy BUT I did notice a slight change in inventory…It’s not much BUT our inventory did rise. Our current inventory is the highest we have seen since March 2021 which goes against the normal summer trends from the past couple of years of dropping until we get into the “slower” fall market.

Graph showing the active inventory for all of Brevard County June 2020 to June 2021. We are seeing a slight uptick in homes on the market
Active Inventory the last 12 months. Highest we’ve seen since March 2021

Here is a recap of the housing market in Brevard County Florida and the Cocoa Beach area for June 2021.

Brevard County

Active inventory 1156

Sold property 1577

Months Supply 0.73 months (3 weeks)

Average Price $356923

Median Price $292500

List/Sale ratio 95%

Days On Market 17

Property selling in less than 7 days  973

Property selling in less than 30 days  1372

Property selling over $1M – 34

Highest price sale $3.5M in the 32940 Direct river 6100+SqFt with an 8 car garage

Most Sales city of Palm Bay 290

Most sales zip code 32940 118

Average age/year built 1991 or 30 years old

Average size 2278 SqFt

Average price per SqFt $191

Homes sold under $200K 115

Map View of the $1M+ home sales for the month of June 2021.
Map view of the $1M+ sales in Brevard County for June 2021

Cocoa Beach & Cape Canaveral Sales for June 2021

Condos

Active inventory 50

Sold condos 72

Months supply 0.69 months (under 3 weeks)

Average Price $384441

Median Price $348000

Average price per square foot $286SqFt

Days On Market 19

Property selling in less than 7 days 40

Property selling in less than 30 days 62

Condos selling under $200K 17

Best selling complex (Tied with 3 sales)

Harbor Isles $293K-$400K

Puerto Del Rio $380K-$410K

The Villages of Seaport $182K-$307K

Best selling condo communities for Cocoa Beach & Cape Canaveral June 2021

We are seeing a slight increase in the active condo inventory but are still way below where we should be at (over 200 condos for sale). Yes, the low inventory and high demand is causing prices to rise but half of our inventory is priced under $300K for condos beachside. Current range of list price is between $72900 for a one bedroom condo in Cape Canaveral to $2.5M for the penthouse at Beachwinds. The 72 condos sales for June 2021 ranged in price $75K for an efficiency in south Cocoa Beach to a $1.550M penthouse in the Flores Ocean Suites condo that was built by the Dorough Brothers Development and Construction company. Condos built by the Dorough Brothers Development and Construction accounted for 4 sales in the month of June in Cocoa Beach & Cape Canaveral. (They are also the developers building the Surf Condos in downtown Cocoa Beach.

The Dorough Brothers Properties have 3 existing projects completed in Cocoa Beach & Cape Canaveral Flores Del Mar, Flores De La Costa, and Flores Ocean Suites. Their 4th project is just breaking ground with the Surf Condominium near downtown Cocoa Beach.
The Dorough Brothers Properties have 3 great projects that have been completed in Cocoa Beach & Cape Canaveral. The Surf is their newest & they are just breaking ground now.

Singe Family Homes

Active inventory 42

Sold homes 17

Months supply 2.47 Month supply

Average Price $689169

Median Price $605000

Average price per square foot $308SqFt

Days On Market 35

Property selling in less than 7 days 8

Property selling in less than 30 days 13

Homes selling under $500K 5

Homes selling over $1M 3

The photo shows turtle tracks on the beach leading to the ocean with the sunrising in the distance. The text overlay show the months supply of homes in Cocoa Beach and Cape Canaveral at 2.47 months supply.
Even though the supply of homes are starting to rise in Cocoa Beach and Cape Canaveral, we are still lower than we should be.

Inventory for single family homes in Cocoa Beach and Cape Canaveral are getting closer to pre-pandemic levels (60+). This hasn’t slowed down sales much, its just giving buyers a couple of options to consider. Prices are still on the rise with active home prices between $349K-$4.7M and 6 of the homes for sale are priced under $500K. We did have sales between $390K-$1.3M with 3 of the home sales near & above the $1M price point.

Here in the Cocoa Beach area and throughout Brevard County inventory has bumped up a little and is still nowhere near the “normal” inventory range. If you have considered selling your home, we should definitely have a conversation (call/text Eric Larkin RE/MAX Aerospace 321-795-1854) or go online and see what your property could be worth https://ericlarkin.remax.com/home-value-estimates 

If you are planning to buy somewhere in Cocoa Beach or the Space Coast, we should have a conversation to discuss strategies (call/text Eric Larkin RE/MAX Aerospace 321-795-1854) or go online to start the conversation https://cocoabeachinsider.com/contact/ Besides discussing the market & price points, we can talk about offer strategies and having a Plan B just in case we cannot find a home right away. 

In case you were not aware, my name is Eric Larkin and I am a real estate agent with RE/MAX Aerospace. I post regularly on this blog CocoaBeachInsider.com about living, working, playing & real estate updates for the Cocoa Beach area and the Space Coast. If you happen to be moving either into our area, somewhere around the Space Coast, or you are relocating out of the area; I am certain you have questions about the move. I hear from people just like you with questions I love to answer & I would love to answer any questions you have. It is as simple as giving me a call/sending a text to 321.795.1854 or send me your questions by filling out the box below.


About the author:

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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