Brevard County Oceanfront Condo / Townhome Sales

2018

Third Quarter Report

For the Third Quarter of 2018 we had 71 total oceanfront condo / townhome sales countywide over $300k. This represents a 10% increase in the number of oceanfront condo sales from last year at this same time. The list price to sales price ratio is remaining pretty tight with properties selling at 95 – 96% of their asking price. The highest sale this quarter was $1.035 million for a top floor NE corner unit in Michelina located in Cocoa Beach.

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Oceanfront Condo Sales Cape Canaveral / Cocoa Beach (Over $300K) – Q3

Sales Volume No. of Sales Avg Days on Market Avg Sale Avg Price Per Sqft List Price vs Sales Price
2016 $15,688,000 31 76 $506,065 $263.21 96%
2017 $11,624,950 27 67 $430,000 $269.86 96%
2018 $16,869,250 36 68 $468,590 $278.74 95%

Oceanfront Condo Sales Satellite Beach to Sebastian Inlet (Over $300K) – Q3

Sales Volume No. of Sales Avg Days on Market Avg Sale Avg Price Per Sqft List Price vs Sales Price
2016 $17,952,896 38 116 $472,445 $249.19 97%
2017 $15,141,927 37 71 $409,241 $234.83 96%
2018 $19,647,900 41 74 $479,217 $247.75 96%
Oceanfront Condos for Sale

Reviewing the 1 year chart below, we see inventory has increased slightly but the rate of sales has also increased. This leaves us with and absorption rate of about 7 months worth of supply, which is considered a balanced market.

In summary, with 7 months worth of oceanfront condo inventory, buyers should have adequate inventory to choose from. Owners looking to sell shouldn’t have too much trouble finding a buyer, with properties selling in just over 2 months on average. If you appreciate a data-driven approach to making decisions when it comes to Buying or Selling, CONTACT US, we’d like to be your guide.

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