Buyers… what are you waiting on? Because the window buyers have right now on the Space Coast is starting to close.
Here’s what’s happening.
Inventory is down over 10% compared to last year, and we’ve already dropped from about 4,700 homes in January to around 4,600 in March.
At the same time, sales are up in the first quarter of 2026 compared to last year. Sales had been declining since the pandemic surge, and 2025 was the slowest year we’ve seen in over a decade. That has started to shift.
So what does that mean?
Right now, buyers still have leverage.
About one out of every three sales is getting some type of concession from the seller, averaging close to $9,000. Combine that with prices pulling back a bit and still having a solid selection of homes to choose from, and buyers are in a decent position.
But that balance is shifting.
Months supply has already dropped from 4.88 down to 3.85. If inventory continues to fall and dips under 4,000 homes while sales stay steady, that puts us under a 4 month supply, which is a seller’s market on paper.
And when that happens, there’s more competition for homes, those concessions start to disappear, and buyers lose negotiating power.
Now with that said, the right time to buy is always a personal decision. What works for someone else might not be right for you.
So no… buyers haven’t missed their opportunity.
But they’re not early anymore either.
Brevard County
Active inventory 4635
Sold Property 1202
Months Supply 3.85 months
Average Price $417,522 2025 $453,976
Median Price $349,095 2025 $359,000
Average price per SqFt $227.61 SqFt
Days On Market 76.09
Property selling in less than 7 days ( % of the sales)
Property selling over $1M 29
Highest price sale $3.675 M in Melbourne Beach
Home sales under $200K 49
Now here’s something interesting in the March numbers.
32940 in Viera is almost always the top selling zip code in Brevard County. Month after month, it consistently leads in total closings.
But not this month.
In March, 32909 in Palm Bay actually pulled ahead.
And that tells you something about what’s happening in this market right now.
Buyers are still active, but they’re getting more price conscious. Areas with more affordability and more inventory, like Palm Bay, are seeing stronger activity.
In 32909, prices ranged from about $130,000 up to just over a million, with a median around $325,000.
And here’s the interesting part… about 55% of those sales had some type of seller concession, averaging just over $9,000. On top of that, about 41% of the homes sold were new construction.
So you’ve got affordability, new construction, and builder incentives all driving activity in that area.
But that doesn’t mean that Viera has slowed down.
This area still has a lot of activity. In March, there were 95 single family home sales, which is pretty close to last year’s 98.
And even with fewer sales than Palm Bay, Viera still led the county in total volume at over $57 million.
Even though there are communities in full production like Farallon Fields, Reeling Park, Laurasia, and Crossmolina… Trasona actually led the area in sales for March. And that’s a completed community.
So it’s not just new construction driving activity in Viera… resale homes are still moving as well.
Viera/Suntree Area
Single Family Homes
| A: Price range $ 284K-$5.5M | S: Price Range $325K-$1.275M |
Active inventory 258
Sold homes 95
Months supply 2.71
Average Price $607,593 2025 $641,401
Median Price $555,000 2025 $615,000
Average price per square foot $259.44
Days On Market 83.08
Homes selling under $500K 41
Homes selling over $1M 3
But another area that really stood out this month… was the condo market beachside.
Cocoa Beach and Cape Canaveral had another strong month with 50 condo sales.
And that’s interesting, because this has been one of the slower segments of the market over the past year.
So to see that kind of activity… that’s a shift.
Now when you dig into what’s actually selling, you’re still seeing a lot of price sensitivity. Over half the condo sales were under $300,000.
About 60% of the deals were cash, so you’ve still got a lot of investor and second home activity.
But sellers are still having to adjust… the average sale came in about $20,000 below the original list price.
And it’s not like there’s one hot complex driving everything. The sales are spread out across multiple buildings, which tells you buyers still have options.
Cocoa Beach & Cape Canaveral
Condos
| A: Price range $79.9K-$1.349M | S: Price Range $127.5K- $979K |
Active inventory 279
Sold condos 50
Months supply Months 5.58
Average Price $337,586 2025 $707,076
Median Price $297,500 2025 $425,000
Average price per square foot $290.62
Days On Market 67.02
Condos selling under $200K 13
Single Family Homes
| A: Price range $489K-$4.495M | S: Price Range $425K-$2.7M |
Active inventory 63
Sold homes 12
Months supply 5.25
Average Price $907,538 2025 $1,046,785
Median Price $715,000 2025 $760,000
Average price per square foot $448.47
Days On Market 72.77
Homes selling under $600K 5
Homes selling over $1M 3
So even with a strong month in sales, this is still a price-sensitive market where buyers have options and negotiating power.
And when you look at everything we just talked about… buyers are still using that leverage.
The question is how long that lasts.
Questions about our current housing market or an upcoming move? I am here to help. Simply leave a comment below and I will get to work.
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
OR leave your info here and I will call you https://www.ericlarkin.com/contact-form
Cocoa Beach Insider 