Of note for single-family homes, the month’s supply of inventory is down to 1.5 months. Lower than I can remember in 20 years, which is creating a price increase of +14.6%.
Condos and townhomes are trending the same way inventory is down to 2.4 months and a price increase of +21%.
A Quick Recap of the Brevard County Single Family Report for November 2020
- Closed sales are up +10.8%for November 2020 in which the number of units closed was 892 compared to 805 in November 2019, with an increase in cash sales of +10.0% compared to November 2019.
- New pending sales are up +10.1%and new listings are down -7.4%.
- The median sales price for Brevard single-family homes is up +14.6%to $275,000 compared to a year ago, which was $240,000.
- Months supply of inventory is down -46.4% to 1.5 months, a decrease from 2.8 months in November 2019.
A Quick Recap of the Brevard County Townhouses/Condos for November 2020
- Closed sales are up +15.2%for November 2020 in which the number of units closed was 242 compared to 210 in November 2019, with an increase in cash sales of +23.5% compared to November 2019.
- New pending sales are down -1.2%and new listings are up +3.9%.
- The median sales price for townhomes/condos is up +21.0%to $236,000 compared to a year ago, which was $195,000.
- Months supply of inventory is down -29.4% to 2.4 months in November 2020 from 3.4 months in November 2019.
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