Brevard County Real Estate Market Trends: October 2024 Housing Update
Single Family Homes
The Brevard County single-family home market in October 2024 highlights key trends for homebuyers and sellers. Closed sales saw a slight decline of 1.0%, with 762 homes sold compared to 770 in October 2023, while cash sales dropped by 17.8%. The median sales price rose by 6.6%, reaching $383,900, reflecting continued appreciation in home values. Inventory increased by 36.7% to 4.1 months' supply, providing more opportunities for buyers, even as new listings and pending sales decreased by 10.2% and 12.0% respectively. With steady traditional sales and minimal distressed property activity, the market remains competitive. Buyers should take advantage of the growing inventory, and sellers should position their homes strategically to maximize value.
Townhomes & Condos
The Brevard County townhome and condo market in October 2024 shows notable shifts that both buyers and sellers should consider. Closed sales dropped significantly by 21.8%, with only 151 units sold compared to 193 in October 2023, and cash sales fell sharply by 45.1%. The median sales price declined by 7.5% to $277,500, presenting an opportunity for buyers seeking affordability. Inventory increased by 53.5%, reaching 6.6 months' supply, while new listings and pending sales decreased by 18.5% and 15.2% respectively. With traditional sales dominating and no distressed properties reported, the market offers buyers more choices and competitive pricing while emphasizing the need for sellers to price strategically to attract buyers.
Key Takaways
The Brevard County real estate market in October 2024 presents unique opportunities and challenges across both single-family homes and the townhome/condo sectors. Whether you're navigating the rising home values and expanding inventory of single-family homes or exploring the affordability and increased options in the townhome and condo market, understanding these trends is key to making informed decisions. At Veltri Group of Brevard, our sibling team provides personalized service, expert market insights, and hands-on guidance tailored to your needs. Contact us today to discuss how we can help you buy or sell with confidence. Two agents. Twice the service. Local experts. Our family helping yours.
Lew & Tina Veltri 321-341-6541
Categories
Recent Posts
Veltri Group of Brevard is a Homegrown Real Estate Sibling Team on Florida's Space Coast offering a unique, hands-on, & personalized approach to buying and selling. We work together as one, so our clients receive twice the service and double the care.