Brevard County Riverfront Single Family Home Sales


Third Quarter Report

For the Third Quarter of 2018 we saw the number of sales for the south portion of the county remain on par with last year…however in the northern portion of the county the number of sales dropped 23% from the spike in sales we saw in Q3 of 2017. This quarter we saw buyers negotiating an average of 7% off the listing price in the northern portion and only 5% in the southern portion. The average price per square foot for the southern end of the county pretty much remained the same year over year and took 19% longer to sell.

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Reviewing the 1 year chart for Banana and Indian River homes priced over $600k, we can see that inventory has increased, giving buyers more options to choose from. Additionally, the number of sales have increased as well bringing the absorption rate down to 11 months worth of inventory. A balanced market’s absorption rate is between 5 – 7 months worth of inventory, so the absorption rate in this sector of the market slightly favors buyers.

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