It is time for another exciting episode of “How’s the market” and it continues to be an interesting market. Active inventory has been trending down since we peaked in April, when we were at 5575 properties on the market, and we are at our lowest level in 2025. We ended August with 5156 properties. If this trend continues, we could be back under 5,000 properties on the market before the end of 2025.
Sales were a little flat in August with 1119 closings. This was the slowest August we have seen in 10+ years. 2024 was our slowest year for sales in 10+ years. Currently, we are trailing 2024 by 500 closings year to date. Looking at the last 4 months of sales for 2024 & 2023, these have been the slowest months of the year. If the market keeps a little better momentum to end 2025…there’s a chance we can beat 2024’s sales.
A couple of things will need to happen. We need to hope that the tropics stay quiet and no major storms hit Florida. No one wants to see the damage that can happen when a storm hits the state or deal with the cleanup. When a storm does hit Florida, it slows the market for at least a few weeks.
Interest rates need to come down. They have been trending down over the summer, and are currently around 6.5%. If they can maintain this level or even pull back a little more (6.25%-6.375%), this will help bring Buyers who have been on the sidelines back to looking at homes.
Another thing Buyers on the sideline want to see is prices to come down. The higher interest rates we have been seeing since the 4th quarter of 2022 were supposed to do that. We are coming up on 3 years of rates over 6% with a 6 month stretch over 7%. This has softened the prices somewhat, but did not lower the prices to where they were in 2017, 2018, or 2019. Prices today have pulled back closer to where they were in 2022.
The average sales price for August was $425,385. We have had a few months this year in the mid $420K range. The average sales price in 2022 is where we shifted from a high $300K average price into the $400K range and have been in the $400K’s since February 2023.
The median sales price for August was $350,000. This is lower than the previous few years for August. So far, year to date median prices are trending down from 2024. We have been in the $350K range since prices jumped in April 2022.
It is definitely taking longer for a property to sell in 2025. The average days on market for August was 118 days. This brings our average for 2025 to over 100 days on market, too. In spite of this, we are still having15% of the properties sell in 7 days or less. There were 167 sales in August that happened 7 days or less.
Let’s talk about Seller concessions to Buyer’s closing costs. 427 of the sales for August, there was some sort of concession to the Buyer. The average Seller concession is up to $9,996 in August. This is important to both Buyers and Sellers. Something else that is important is the list to sell ratio. On average, the list to sell ratio was 92.3% of the original listing price.
The other thing that is happening with sales is Seller repairs. I am seeing a lot of roofs being put on before closing. I am also seeing other repairs/work being done to homes once they are under contract. Specifically, things that are needed for the Buyer to obtain insurance. Issues that came up on the 4 point inspection: old water heaters, corroded shutoff valves, old HVAC systems, and Federal Pacific electrical panels. Sellers are doing what they can to keep the current Buyer happy so that the property will sell.
If you are planning to list your home for sale either before the end of 2025 or at the beginning of the year, we should talk now to go over the things you can do to help your home sell quicker and to that first Buyer. It is worth doing the prep work on your property versus just listing your home to see what happens.
Brevard County
Active inventory 5156
Sold Property 1119
Months Supply 4.61 months
Average Price $425,385 2024 $433,625
Median Price $402,000 2024 $365,000
List/Sale ratio 92.3%
Average price per SqFt $228.12 SqFt
Days On Market 73.55 DOM
Property selling in less than 7 days 167 (15 % of the sales)
Property selling over $1M 43
Highest price sale $6.150M
Home sales under $200K36
Cocoa Beach & Cape Canaveral
Condos
Let’s talk condos beachside, specifically in Cocoa Beach and Cape Canaveral. 2025 has been the year of excessive inventory in the condo market and exceptionally low sales numbers. We started the year with 312 condos on the market and saw this number peak in April with 356 condos for sale in Cocoa Beach and Cape Canaveral. Fortunately, this number has since dropped, and we are now below 300 condos for sale, with 287 on the market as of August. Yes, this should be a relief for condo sellers. Looking closer at the numbers, this is still a record high number.
Condo sales in Cocoa Beach and Cape Canaveral have been fair at best. We had 32 sales in August and are only averaging 35 sales per month for 2025. This is behind the average sales we had in the 1st 8 months in 2024, where we averaged 43 sales per month from January to August. More than likely, we will continue to trend behind 2024 with September sales, since there were 42 sales in September 2024.
Looking ahead to the 4th quarter condo sales, if we can maintain the 30-35 closings per month in 2025, I would consider that a win. The 4th quarter of both last year and in 2023 was terrible. In 2023, they averaged 26 sales per month, and in 2024, they averaged 22 sales.
Prices for the most part are lower today than we have seen in a while in the condo market. With that being said, the median sales price did jump to $387,500 in August. The highest we have seen since March 2025. Looking back at the other months and median prices from the last few years, it appears that we are in line with prices from 2022. Will we see the median price dip to under $300,000 anytime soon?
Looking at the overall condo market in the Space Coast MLS, sales are actually up slightly August 2025 compared to August 2024 (138 versus 134 sales). A trend that stands out is how the Buyers are purchasing the condos. There are more cash sales of condos happening. The trend was up last year and is up again in 2025.
What are your thoughts on buying a condo in Florida?
| A: Price range $124.9K to $3.349M | S: Price Range $70K to $1.2M |
Active inventory 287
Sold condos 32
Months supply 8.97Months
Average Price $403,450 2024 $369,366
Median Price $387,500 2024 $320,000
Average price per square foot $288.96
Days On Market 118 DOM
Condos selling under $200K 6
Best selling complex The Villages Of Seaport 3 sales ($327.5K, $290K, & $230K)
Single Family Homes
| A: Price range $400K to $3M | S: Price Range $ 405K to $1.5M |
Active inventory 70
Sold homes 9
Months supply 7.78 months
Average Price $995,222 2024 $811,555
Median Price $1,120,000 2024 $700,000
Average price per square foot $396.38
Days On Market 171.11 DOM
Homes selling under $600K 3
Homes selling over $1M 6
Viera/Suntree Area
The Viera area is like the golden child of our real estate market. The best selling zip code in the county is the 32940. There is a lot of growth and development happening in the Viera area. Active inventory has yet to get out of hand like other parts of the Space Coast. Consistent sales every month.
Here are the stats for August. Active inventory is trending down like we are seeing throughout Brevard, with 317 homes available. Sales, like the rest of the county, dipped from the numbers we have been seeing, with 96 single family home sales. The average sales price was $623,230 in August, which was down slightly from the previous year. However, the median sales price is up from $599,900 to $605,477.
If you like the Viera area and were hoping for a home closer to $ 400,000, please note that there are homes in the Viera/Suntree area priced as low as $350,000. This is Viera East or the Springs of Suntree. You could also consider the city of Rockledge to the north or Melbourne to the south to see if other options make sense for you and your family.
Single Family Homes
| A: Price range $299K to $5.5M | S: Price Range $203K to $3.150M |
Active inventory 317
Sold homes 96
Months supply 3.3 months
Average Price $623,230 2024 $634,529
Median Price $605,477 2024 $599,900
Average price per square foot $260.60
Days On Market 56.24 DOM
Homes selling under $500K 36
Homes selling over $1M 6
What are your thoughts on our current housing market? If you have any questions about this information or an upcoming move, we should talk. You can either leave your information below or grab at time on my schedule that works best for you. https://www.ericlarkin.com/schedule-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.
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