We are getting close to wrapping up 2025, and it has been an interesting year for real estate. All signs at the beginning of 2025 were indicating our housing market was heading into a tailspin. The inventory was over 5000 properties. Sales were lagging behind 2024 (which happened to be the slowest year we’ve seen in 10 years).
Then we entered the 4th quarter, and things have changed. Inventory came back down under 5000. We ended November with 4,808 properties available for sale.
Sales started to pick up; this is the 3rd month in a row where we were over 2024’s sales. It’s a long shot, but there is a tiny chance we can beat 2024 sales. Really, it’s a long shot. I will be happy if we make it 4 months in a row beating the previous year’s sales. We need to close at least 1134 to match 2024 sales. If we hit 1037 or more…that’s a win.
Why is our momentum shifting? The interest rates have a lot to do with it. They have been trending down since June. I have Buyers who are getting quotes in the high 5’s and low 6’s. This, combined with the fact that our current rates in the low to mid 6% range, is the new normal. Buyers who have been on the sidelines are starting to realize this. Buying now, with the surplus of inventory, gives them the ability to negotiate. Not only on price, but also in securing seller concessions towards closing costs. In November, 38% of the sales had the seller providing the buyer concessions towards their closing costs, with an average of $9541.
Combine this with the direction prices are trending. Overall average sales price from the Space Coast MLS was $407,470, down from $442,863 last November. There is also a decline in the median sales price…$348,950 down from $370,000 last November.
The question I have for those on the sideline that need to buy or want to buy…what are you waiting for?
If you are hearing that foreclosures are up across the Country, they might be coming…I do not track the filings with the clerk’s office. I have been tracking our distressed sale inventory. Right now, the active foreclosures and short sales are a tiny percentage of our active listings. We have 68 foreclosure listings and 30 short sale listings in the Space Coast MLS. We had 12 foreclosure sales in November and 3 short sales. This is under 1% of our sales. Looking back at our last distressed market (2008-2015), the distressed sales were up to 45% of our total sales. We have a long way to go before we see this happening again.
If you are behind on your mortgage payments and the bank has started the lis pendens, we should probably talk. Unless you purchased or refinanced in the last 3 years, you probably have some equity in your property. We can see what’s selling, go over the numbers so that you have the right information on how to proceed that is best for you and your family.
Brevard County
Active inventory 4808
Sold Property 938
Months Supply 5.13 months
Average Price $407,470 2024 $442,863
Median Price $348,950 2024 $370,000
List/Sale ratio 91.5%
Average price per SqFt $224.63 SqFt
Days On Market 70.69
Property selling in less than 7 days 160 ( 17% of the sales)
Property selling over $1M 28
Highest price sale $3.7M Indialantic home
Home sales under $200K 30
Looking at the condo market in Cocoa Beach and Cape Canaveral…it’s hard to describe. Active inventory is at 280 condos, up from 267 last year. Sales were flat this year with 25 closings and 21 last year. Currently at a 11-month supply available.
What’s surprising about the condo sales is how well the average and median prices are holding up. The average price for November was $392,056 compared to $374,833 last year. Median price is $365,000 compared to $355,000 last year.
In spite of the average and median prices, I think there is an opportunity if you are looking to buy a condo in the new year. We have had more condos for sale in 2025 than in any other year. Sales are averaging 33 per month in 2025. The average in 2024 was 38. You have a good selection with only a few sales. Looking at our current active inventory, the average days on market is 86. Over half of the listings on the market have had some type of price reduction. Villages of Seaport is carrying the most active listings with 15 on the market.
Have you been thinking about a condo near the beach?? Maybe we should talk…
Cocoa Beach & Cape Canaveral
Condos
| A: Price range $110K-$1.699M | S: Price Range $ 135K-$787.5K |
Active inventory 280
Sold condos 25
Months supply 11.2 Months
Average Price $392,056 2024 $374,833
Median Price $365,000 2024 $355,000
Average price per square foot $282.43
Days On Market 69.32
Condos selling under $200K 2
Best selling complex N/A
Single Family Homes
| A: Price range $464K-$3.5M | S: Price Range $375K-$1.36M |
Active inventory 66
Sold homes 10
Months supply 6.6
Average Price $822,990 2024 $713,206
Median Price $782,500 2024 $630,000
Average price per square foot $398.61
Days On Market 66
Homes selling under $600K 2
Homes selling over $1M 3
The Viera/Suntree single-family home market always impresses me. The best-selling zip code continues to be the 32940. Solid sales throughout the year for the Viera area show an improvement over 2024. There were 87 sales this November compared to 67 in 2024.
The list-to-sell ratio is 95% compared to 91.5% for the entire Space Coast MLS.
There are some shifts in the market that show 2025 could lag a little behind 2024.
The average sales price is down. $625,255 compared to $681,787
The median sales price is down, too. $570,000 compared to $599,690
If you are looking to move to the Viera area, just know that you have a good selection of homes to choose from. Depending on the property’s activity, you may be able to negotiate. It’s important to point out that 24% of the homes that sold were at or above the asking price.
Would you consider living in the Viera area?
Viera/Suntree Area
Single Family Homes
| A: Price range $249K-$5.5M | S: Price Range $297K-2.6M |
Active inventory 295
Sold homes 83
Months supply 3.39
Average Price $625,255 2024 $681,787
Median Price $570,000 2024 $599,690
Average price per square foot $263.31
Days On Market 57.3
Homes selling under $500K 35
Homes selling over $1M 9
Looking forward, I am feeling momentum in our real estate market. Starting out better in 2026 than 2024 & 2025 is a pretty low bar to beat. I am hoping to see the housing market compare to what we were seeing pre-pandemic with slightly slower sales in January and February, with an exceptionally strong spring market. As a Buyer, you have a good selection of homes to choose from with Sellers that are ready to negotiate. It depends on just how strong the Spring market is on how long and how much negotiating can be done.
Do you have questions about an upcoming move or how to get started? I am here to help. Drop a comment below, give me a call, or find a time on my calendar that works for you.
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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