How’s the market? So far, no real surprises in 2025. Inventory is 3% higher than it was in January. Sales are in line with what we expect to see for January/February. What I’ve noticed we are seeing less of is new inventory coming on the market. In 2024 we saw an increase in properties coming on the market in January & February. Starting 2025, we are down 10% from last year for new properties coming on the market.
Active inventory is at 5332. This is up 32% from last year and the highest our inventory has been since February 2011. What I would like to see happen with our active inventory is it starts to mirror pre-pandemic trends. It climbs at the beginning of the year. Then when the spring market kicks in (usually in March & April) we see it start to trend down with the increased sales from April to August.
We sold 961 properties in February. Traditionally, January & February are the slowest months of the year. We are pretty close to the numbers from last year and 2016 to 2019. It’s what happens from this point forward that will let us know what kind of year 2025 will be.
Days on market, the time it takes a property to sell on average, continues to creep higher. We averaged 77 days in February. Yes, this is the highest we have seen in some time. Fortunately, we are still well under 100+ DOM that we saw in 2011 & 2012.
An interesting statistic to look at is how many properties are selling in 30 days or less. In February, 350 sales happened in 30 days or less. That’s 36% of our transactions. There were even homes selling in 7 days or less (16% of the closings)
The list price to sales price ratio is 93%. I look at the original list price, not the most recent list price. The average listing price was $476,757 with the average sales price for February $443, 749.
Looking at both the average sales price history, the numbers are slightly above 2024 & significantly higher than the few years before that. The same is true for the median sales price. I see this as an indicator of our prices leveling out with areas showing a slight decrease.
What are your thoughts on these numbers?
Brevard County
Active inventory 5332
Sold Property 961
Months Supply 5.55 months
Average Price $443,749 2024 $428,843
Median Price $360,000 2024 $352,500
List/Sale ratio 93%
Average price per SqFt $237.39 SqFt
Days On Market 77.04 DOM
Property selling in less than 7 days 155 ( 16% of the sales)
Property selling in less than 30 days 350 (36% of the sales)
Property selling over $1M 47
Highest price sale $3.3M
Home sales under $200K 32
Cocoa Beach & Cape Canaveral
Condos
At first glance, I am seeing some positive trends in the condo market in Cocoa Beach & Cape Canaveral. Sales have been up for the last 3 months. January & February sales are in line with 2024 AND 2023. The average sales price jumped to $734,271 which is over a 200% increase from last February. Then I noticed The Surf at Cocoa Beach, the new project near downtown is having closings. 17 of the 25 condos have sold between December and the end of February with 10 of the units closing in February. Closing prices between $1M-$2.2M which will certainly put an * on our condo numbers. But a win is still a win.
The condo active inventory is still trending up. We are almost 9% over January 2025. We are way up over this time last year. The condo inventory is up 49% from this time in 2024. We are sitting on over 9 months supply of condos in just Cocoa Beach & Cape Canaveral. If you have been keeping an eye on the condo market, wanting to get something…you are probably going to be able to negotiate a good price. The average & median sales price in 2024 actually pulled back from previous years. With the growing inventory supply, there is opportunity. I want to see how things trend out the next 2 months with the condo sales.
| A: Price range $121K-$3.399M | S: Price Range $129K-$2.2M |
Active inventory 339
Sold condos 35
Months supply 9.68 Months
Average Price $734,271 2024 $350,153
Median Price $405,000 2024 $335,500
Average price per square foot $396.29
Days On Market 133.29 DOM
Condos selling under $200K 5
Best selling complex The Surf 10 sales $1M-$2.2M
Single Family Homes
Single family homes beachside is hard to predict & see trends because there’s only a few closings happening per month. Even when sales peaked during 2020 & 2021, there were 27 sales per month. In 2018 & 2019, we averaged 12 closings per month these years. Last year we averaged 8.5 sales per month. We are starting 2025 averaging 4. We shall see what happens during our spring market. Something I did notice in February, this was the first month in a while we did not have a sale over $1M and we had 3 sales under $600K. I do know the last 5 years, we had a lot of single family home sales that became airBnB type properties. The proposed changes the city of Cocoa Beach is implementing could have an impact on the single family home market. Time will tell.
| A: Price range $534.9K to $3.498M | S: Price Range $380K to $675K |
Active inventory 61
Sold homes 4
Months supply 15.25 Months
Average Price $537,500 2024 $836,250
Median Price $525,000 2024 $770,000
Average price per square foot $384.05 SqFt
Days On Market 58 DOM
Homes selling under $600K 3
Homes selling over $1M 0
Viera/Suntree Area
It is exciting to see everything that is happening in the Viera area. Lots of new construction. Lots of resale homes closing. Sales are starting out in 2025 in line with the beginning of 2024. We had 79 sales in February compared to 79 last year. New inventory coming on the market, just like with the rest of the county, is slightly behind last year. 122 this February compared to 143 last year. Our months supply of homes is under a 4 months supply.
Single Family Homes
| A: Price range $ 247K to $5.250M | S: Price Range $305K to $1.650M |
Active inventory 292
Sold homes 79
Months supply 3.69 months
Average Price $636,263 2024 $586,041
Median Price $601,191 2024 $529,525
Average price per square foot $270.08
Days On Market 56.77 DOM
Homes selling under $500K 22
Homes selling over $1M 4
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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.
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