The 1st quarter of 2025 is in the books, and the numbers are showing we are lagging behind 2024. Active inventory is hanging out in the low 5K range, which is the highest we have seen since 2011. Sales have pulled back from last year, too. I had wanted to see March sales in the 1200-1300 range, and we were just over 1100. This is just the beginning of our spring & summer market, and we will have to see where the sales numbers line up in April & May.
Interest rates remain a driving factor in our housing market. Rates have stayed under 7% in 2025, which is a good thing. If the rates can maintain this or even drop a little, to the low 6% range; that would certainly benefit buyers who are planning to make a purchase by the summer.
Our active inventory is 5382 with 1103 sales for March, puts us at a 4.88 month supply of properties available for sale. This is trending down from the beginning of 2025, but still higher than where we were at March 2024 (3.48 month supply) If our inventory stays in the low 5000’s and are sales pick up during the next few months, we could see the supply getting closer to a 4 month supply.
The days on market, the time it takes for a property to go under contract is still high, but slightly lower than the beginning of 2025. Average days on market for March was 72 days. I do like to point out that some properties are still selling quickly. 152 sales happened in March in 7 days or less.
The average sales price from our MLS is still up over last year. March’s average sales price $453,976 compared to $443,362 last year. The median sales price is even to last year; $359,000 compared to $360,495.
Luxury sales, property selling $1M+ are still higher than what we have seen in the past. Yes, we were down by a couple in March, but overall we are selling more than the 1st quarter of 2025 compared to the last 4 years.
Brevard County
Active inventory 5382
Sold Property 1103
Months Supply 4.88 months
Average Price $453,976 2024 $443,362
Median Price $359,000 2024 $360,495
List/Sale ratio 92%
Average price per SqFt $237.35 SqFt
Days On Market 72.70 DOM
Property selling in less than 7 days 152 (14% of the sales)
Property selling over $1M 43
Highest price sale $1.140M
Home sales under $200K 40
Cocoa Beach & Cape Canaveral
The condo market in Cocoa Beach & Cape Canaveral has had some positive momentum over the last 4 months, with sales up over the previous month from December through March. Total sales volume for March 2025 was $26,868,900 in Cocoa Beach & Cape Canaveral. This is almost a 14% increase over March 2024’s $23,650,250 in sales. We will also have another * for condo sales in Cocoa Beach/Cape Canaveral because there were 8 more properties closed at the Surf condos in downtown Cocoa Beach. Price point between $1.35M – $3.150M, or a total of $14,750,000 in sales. Now that this building has closed out on all of the condo units, it will be interesting to see how things pan out over the next few months.
The single family home market finally had a bump in sales with 11 sales for March. I was surprised with the back to back 4 closing months to start the year. We also had a surge of inventory come on the market, 32 homes. This is the newest inventory to come on the market in Cocoa Beach & Cape Canaveral since February 2020. This is also the highest I have seen our active inventory beachside.
Condos
| A: Price range $112K – $3.250M | S: Price Range $93.5K – $3.150M |
Active inventory 339
Sold condos 38
Months supply Months 8.92 Months
Average Price $707,076 2024 $414,916
Median Price $425,000 2024 $385,000
Average price per square foot $365.35
Days On Market 108.39 DOM
Condos selling under $200K 6
Best selling complex The Surf 8 sold ($1.35M, $1.45M, $1.5M, $1.625M, $1.625M, $1.85M, $2.2M, & $3.150M)
Single Family Homes
| A: Price range $479K-$3.3M | S: Price Range $ 550K – $2.580M |
Active inventory 76
Sold homes 11
Months supply6.91 Months
Average Price $938,558 2024 $1.123M
Median Price $760,000 2024 $700,000
Average price per square foot $437.90
Days On Market 61.45 DOM
Homes selling under $600K 1
Homes selling over $1M 2
Viera/Suntree Area
Single Family Homes
| A: Price range $234K – $5.250M | S: Price Range $ 275K – $1.270M |
Active inventory 294
Sold homes 98
Months supply 3 Months
Average Price $641,401 2024 $608,373
Median Price $615,000 2024 $535,000
Average price per square foot $267.19
Days On Market 49.06
Homes selling under $500K 29
Homes selling over $1M 5
If you have been thinking about making a move/buying a property in 2025, here are some things to consider. Most of the homes being sold are happening below the list price. With the number of properties on the market, you have the ability to negotiate the price, repairs, and/or credits towards your closing costs. 32% of the closings had some type of Seller credit to the Buyer. The average amount was $8,200. Talk to a lender, talk to a real estate agent, and see if it makes sense to buy a home in 2025. If you would like to talk with me, drop a comment below or give me a call.
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.
Planning a move or have questions about our area? Eric Larkin with Real Broker, LLC can help! Schedule a call here https://www.ericlarkin.com/schedule-a-call
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