First Quarter of Brevard County Real Estate

Sunday April 15, 2007
First Quarter in Brevard County

Hi Everyone! So the first quarter has past for Brevard County Real Estate. Some people are saying the market is starting to pick up, others say it's still at a stand still. I'm a believer in letting the numbers do the talking so let's look at them!

As of today, April 15th:

Single Family Homes on the Market: 7471
Condos and Townhomes on the Market: 3435
Land on the Market: 4398
Sold Numbers are from Jan. 1, 2007 - April 15, 2007
Single Family: 1414
Condos and Townhomes: 374
Land Sales: 168

I think you might be getting the picture right now. Compared to 2004 when prices were 20%-30% higher we had around 1200 single family listings including condos and they all sold within 30 days. We also only had 1,000 land listings and they all sold within 30 days. It was a great time if you were selling your property but a terrible time if you were trying to buy. We had priced first time homebuyers out of the market and many of our buyers that would have liked to move up couldn't because they couldn't afford the next house. Crazy Times!

So here we are now on April 15th, 2007 and things have certainly changed. Sellers are starting to realize they need to lower their prices dramtically if they want to sell and even then they should plan on 3-6 months listing times. In 2004 you would have been blessed to find a home under $200k. Today you can buy a brand new home for under $200k. So we have completely changed from a sellers market to a buyers market. This is cetainly the time to buy a home. With interest rates staying around 6.5% or less, and home prices 20%+ lower than two years ago, this may be the best time to buy a home!

Of course one piece of great news for us, Tropical Realty and MitchRealty.com is that our sales have been excellent. We are currently ranked number 2 in the county out of 392 Real Estate companies in working with buyers. Keep in mind we are ahead of companies that have hundreds of Agents where between our two offices we have a total of 30. Obviously we are exceptional at helping our customers which is why our business is extremely strong right now. I definately want to thank all of our buyers who have chosen us to help them purchase their homes. Honestly and Integrity surely pays off!

Well that's about it for now. As always, if there is anything we can do to help don't hesitate to email or call us. We will do anything in our power to make sure you make the right decisions on your next purchase!!

Have a fun Sunday and take care!

Mitch