A quick recap of the Brevard County Residential Report for March 2025:
- Closed Sales are down -6.3% for March 2025 in which the number of units closed was 872 compared to 931 in March 2024, with a decrease in cash sales of -13.5%.
- New Pending Sales are down -1.4% and New Listings are up 1.7%.
- The Median Sales Price for Brevard County Single Family homes is down -4.4% to $362,915 compared to a year ago, which was $379,445.
- Months' Supply of Inventory is up 25.0% to 4.5 months, an increase from 3.6 months in March 2024.
- Traditional Sales are down -6.3% with a median sales price of $365,000.
- Foreclosure/REO Sales are down -14.3% with 6 closed sales and a median sales price of $186,450.
- Short Sale Closings are 0% with 2 closed sales and a median sales price of $295,000.
What It All Means:
- Sales are slowing, but the decline is gradual, not abrupt.
- Prices are starting to come down, especially in single-family homes (unlike condos, which are still up slightly).
- Inventory is rising, giving buyers more options and reducing bidding wars.
- Sellers may need to price more competitively or be flexible on terms.
The market is showing signs of cooling — fewer sales, slightly lower prices, and growing inventory. This shift may present opportunities for buyers while sellers may need to be more strategic and realistic with pricing.
A quick recap of the Brevard County Townhouses/Condos for March 2025:
- Closed Sales are down -19.4% for March 2025 in which the number of units closed was 191 compared to 237 in March 2024, with a decrease in cash sales of -12.2%.
- New Pending Sales are down -10.6% and New Listings are up 2.3%.
- The Median Sales Price for Brevard County Townhouses/Condos is up 3.0% to $309,000 compared to a year ago, which was $300,000.
- Months' Supply of Inventory is up 45.8% to 8.6 months, an increase from 5.9 months in March 2024.
- Traditional Sales are down -19.9% with a median sales price of $309,000.
- Foreclosure/REO Sales are 0% with 1 closed sale and a median sales price of $145,000.
- Short Sale Closings are N/A with 1 closed sale and a median sales price of $335,000.
What It All Means:
- Supply is up, demand is down, but prices are holding.
- Buyers have more negotiating power due to more inventory and slower sales.
- If this trend continues, we might see price softening in the coming months.
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