Melbourne Florida Homes for Sale

The Space Coast State Fair that is normally in Titusville will actually be in Viera, Florida this year.  Apparently the venue in Titusville is not large enough to handle the enormity of the event so the organizers agreed to relocate the fair to Space Coast Stadium in Viera.  It will be held in the parking lots of the stadium which is summer training grounds for the Washington Nationals and summer home of minor league Brevard County Manatees.

Rides will be unlimited this year with the purchase of a $10 or $12 gate pass.  There will be daily circus shows, monster truck events Nov 16-20, Seth Elliott Xtreme MotoCross FMX stunt show, concerts and more.  It will be a fun packed set of family events.  The website for the fair summarizes all event and fair times as well as gate prices for entrance.  Enjoy the festivities of the Space Coast State Fair.

As we get closer to the end of another year, we begin to develop business plans for the next year and try to predict what the selling season will be like in the short future.  We can some times look to trends to give us an idea of where the next year will fall but real estate has been unpredictable since 2007 in Florida.  Here is what has been going on in October 2011 in Brevard County, Florida.  Homes that sold in October 2011 versus October 2010 are almost flat – down .8%.  This would be another sad tale of the housing market if it was for the performance of sales earlier in the year.  2011 is still running more than 11% up over last year in number of homes sold.  These results include single family homes, townhomes and condos. 

*New Listings are down from October 2010 – (12.55%) – YTD down (20.26%)

*Sold Listings are down from October 2010 – (.75%) – YTD up +11.38%

*Volume Sold is up from October 2010 – +9.49% – YTD up +7.64%

*Average Sale Price is up from October 2010 – +10.31% – YTD down (3.36%) 

Here is what is selling in Brevard County, Florida in average sales price:

$0-$49,999 - 131 units sold (19.8%)

$50K-$79,999 – 115 units sold (17.4%)

$80K-$99,999 - 73 units sold (11.0%)

$100K-$159,999 - 151 units sold (22.8%)

$160K-$199,999 - 59 units sold (8.9%)

$200K-$249,999 - 49 units sold (7.4%)

$250K-$299,999 - 23 units sold (3.5%)

$300K-$399,999 - 27 units sold (4.1%)

$400K-$499,999 - 20 units sold (3.0%)

$500K+ - 13 units sold (2.0%)

48.3% of all homes sold in Brevard County were priced between $0 and $99,999.  31.8% of homes sold were priced between $100,000-$199,999. The average median sales price in Brevard County for October 2011 was $140,227 which is up from September by 3.76%. 52.5% of all homes sold in October 2011 were paid for with cash which is much higher than the national average.

Current inventory on the market is broken down like this:

Residential Homes              3,048 on the market - 778 are short sales - 239 are bank owned

Condos                                    853 on the market – 114 are short sales - 89 are bank owned

Townhomes                          226 on the market - 53 are short sales - 23 are bank owned

Total                      4,127 homes on the market - 945 are short sales - 351 are bank owned

22.9% of homes on the market in Brevard County are listed as a short sale. 8.5% listed on the market are bank owned properties. Inventory has been dropping from 2011 although not as steady as it was in the begining of the year.  If inventory continues to drop we could expect to see more homes back on the market from banks needing to unload properties. So, just because inventory is going down it does not mean the area will see immediate price increases. If demand continues to keep pace and sellers keep their homes off the market, it could start to create average median price increases.  

So, those are the home sales statistics for Brevard County Florida for October 2011.

I posted some direct ocean front condos on October 29. The link to the oceanfront condos are here. I think many viewers were amazed to find ocean view and ocean front condos for under $200,000 in Brevard County.

I got to thinking about it and there are fantastic river front condos in Brevard County also. So, I created a new list here of about 120 condos that are either river front or ocean front. The link to both river and ocean front condos is here. These units are quite affordable in some cases. If you have any questions, please let me know.

You can search for other Brevard County property here.

Here are the 10 lowest priced single family ocean front homes in Brevard County, Florida. These homes are priced between $590,000 and $950,000. Most are in Melbourne Beach but a couple are in Cape Canaveral and Cocoa Beach. If you want to search other properties in Brevard County, you can click here to see other listings.

Be a Fan on Facebook – Jason Koivu – Serving Brevard Realty

Here is a list of the ten least expensive homes in Viera, Florida.

This list did exclude homes from Indian River Colony Club from several reasons. Although the homes in this community are also very affordable, the community is highly amenitized and comes with a high monthly maintenance fee. The community is also a 55+ community that was designed primarily for retired military although it has now been opened up to other buyers.

Come be a Facebook Fan!!