Consider that these are the three components of housing statistics that are likely the cause of delays in monthly reports from the Space Coast Association of Realtors.
December's home listings marked a total for the month, but it also marked the end of the fourth quarter and what could be described as a crazy reset year for the Brevard housing market.
Interest rates have risen quickly and fallen slowly, resulting in properties sitting on the market for longer periods of time. Cash sales have been down for the year, and a surge in inventory has given Brevard a return to a more “normal” market than the frenzied bidding wars and winning bids well above asking price that Space Coast has seen in recent years. Ta.
According to the association's latest statistics, the sales value of single-family homes in December decreased by 19.5% compared to the same month last year. The decline rate for townhomes and condos was 25.4%. Overall, the fourth quarter of 2023 was down 5.9% compared to the fourth quarter of 2022. Townhomes and condos were down 7.7% in the fourth quarter.
Contracted sales in 2023 also decreased by 6.2%, with 10,396 homes contracted compared to 11,083 in 2022. Townhomes and condominiums were down 9.8% for the year.
Other statistics to consider:
cash sale
- Single families in December: 9.7% decrease
- December Townhomes: 25.4% decrease
- Quarter 4 Single Family: 11.9% increase
- Quarter 4 Townhome:1.9% increase
- Single Family of the Year 2023: 8.9% decrease
- 2023 Annual Townhomes: 6.3% decrease
new pending sale
- Single families in December: 13% decrease
- December Townhomes: 5.5% decrease
- Quarter 4 Single Family: 2.6% increase
- Quarter 4 Townhome: 4.2% increase
- Single Family of the Year 2023: 5% down
- 2023 Annual Townhomes: 6.8% increase
Median selling price
- Single families in December: This was a 5% increase to $370,000 compared to $352,540 a year ago.
- December Townhomes: Sales decreased -4% to $291,000 compared to $303,000 a year ago.
- Quarter 4 Single Family: This was a 2% increase to $365,000 compared to $357,813 a year ago.
- Quarter 4 Townhome: Sales decreased -3.6% to $295,000 compared to $306,000 a year ago.
- Single Family of the Year 2023: This was an increase of 0.3% to $361,000 compared to the previous year's $360,000.
- 2023 Annual Townhomes: This was a 3.1% increase to $299,000 compared to $289,900 in the same period last year.
New listing
- Single families in December: 8.4% increase
- December Townhomes: 15.3% decrease
- Quarter 4 Single Family: 8.9% increase
- Quarter 4 Townhome: 17.1% increase
- Single Family of the Year 2023: 4% decrease
- 2023 Annual Townhomes: 6.8% increase
Several months' worth of inventory
- Single families in December: 39.1% increase in 3.2 months
- December Townhomes: 81.5% increase in 4.9 months
- Quarter 4 Single Family: 39.1% increase in 3.2 months
- Quarter 4 Townhome: 81.5% increase in 4.9 months
- Single Family of the Year 2023: 39.1% increase in 3.2 months
- 2023 Annual Townhomes: 81.5% increase in 4.9 months
traditional sales
- Single families in December: 19.4% decrease
- December Townhomes: 25% down
- Quarter 4 Single Family: 5.8% decrease
- Quarter 4 Townhome: 7.3% decrease
- Single Family of the Year 2023: 6.3% decrease
- 2023 Annual Townhomes: -9.9% decrease
Foreclosure/REO Sale
- Single families in December: Two sales closed, with a median sales price of $263,750, an increase of 100%.
- December Townhomes: 100% decrease with zero sales
- Quarter 4 Single Family: There were 10 closings, an increase of 25%, and the median sales price was $271,000.
- Quarter 4 Townhome: 100% decrease, 0 closed sales
- Single Family of the Year 2023: Increased by 24.4%, with 51 sales and a median sales price of $227,800.
- 2023 Annual Townhomes: Up 28.6% with 9 closed sales and median sales price of $145,000
short selling
- Single families in December: 100% decrease, 0 closed sales
- December Townhomes: N/A if 0 completed sales
- Quarter 4 Single Family: Down 75%, with 1 closed sale and a median sales price of $455,000.
- Quarter 4 Townhome: N/A if 0 completed sales
- Single Family of the Year 2023: 53.8% decrease with 6 closed deals and median sales price of $455,000
- 2023 Annual Townhomes: There was one closed sale and the median sales price remained unchanged at $375,000.
Rob Landers is a veteran multimedia journalist for the USA Today Network in Florida. Contact Landers at 321-242-3627 or rlanders@gannett.com. Instagram: @RobLanders Youtube: @florida today
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