Brevard County Waterfront Homes For Sale FAQ
A recent article ranked the Melbourne area as the top area searched by out of area residents. This information was generated by the ratio of inbound property searches on Trulia.com in a given metro area by out-of-area residents, compared to outbound searches by locals. These “out of towners” looking at Brevard County Waterfront properties tend to ask us the same questions.
What’s the typical starting price of your market?
If you’re talking about waterfront single family homes, the entry point is $400k for a small canal front home and larger estate homes on the Grand Canal go up to $2 million. The starting point for Intracoastal or Oceanfront is $900k and go up to $4 million. The entry point for a direct Oceanfront condo is $250k and go up to $1.3 million. Non-waterfront properties in the beachside neighborhoods of Brevard start at around $300k and up to $1 million. Generally speaking, the more popular luxury home areas start in the low seven figures.
How would you describe the pulse of your market?
Things are going pretty well. Activity is good and prices feel like they have bottomed in 2010 – 2011. However, there is a scarcity of good inventory and buyers are finding very few things coming on the market. Much of our inventory has been absorbed however it appears as though some sellers are holding out because they believe prices are trending upward. With the lack of inventory we are seeing a resurgence with people buying vacant land and building what they want.
How has the market changed over the last 12-18 months?
Average days on the market are down. We’re seeing an influx of international buyers, second / third home buyers and baby boomers buying, planning for their retirement. Because of the lack of inventory, people are not finding a suitable property so they are building. What’s great about this area is many of the communities have family centered activities based around the water.
What’s one of the top trends are you seeing?
We are seeing a trend in downsizing. A lot of waterfront owners of 7,000 – 10,000sf homes are selling and buying homes in the 4000 – 5000sf range.
What do you foresee short and long term for your market?
This market will continue to rebound and be good as long as there is decent inventory. There’s a lot of buyer interest due to the fact that you potentially buy property much cheaper than its replacement cost.
Contact us with your questions regarding Brevard County Waterfront properties. Carpenter / Kessel is the unequivocal leaders of waterfront sales in Brevard with over 241 waterfront transactions from 2009 – 2016. We are here to help!