For Immediate Release: Palm Shores, FL -- March and First Quarter 2025 Brevard County housing statistics report for Single-Family homes and Townhouses/Condos provided by Space Coast Association of REALTORS®, the voice for real estate in Brevard County.
A quick recap of the Brevard County Residential Report for March 2025:
- Closed Sales are down -6.3% for March 2025 in which the number of units closed was 872 compared to 931 in March 2024, with a decrease in cash sales of -13.5%.
- New Pending Sales are down -1.4% and New Listings are up 1.7%.
- The Median Sales Price for Brevard County Single Family homes is down -4.4% to $362,915 compared to a year ago, which was $379,445.
- Months' Supply of Inventory is up 25.0% to 4.5 months, an increase from 3.6 months in March 2024.
- Traditional Sales are down -6.3% with a median sales price of $365,000.
- Foreclosure/REO Sales are down -14.3% with 6 closed sales and a median sales price of $186,450.
- Short Sale Closings are 0% with 2 closed sales and a median sales price of $295,000.
What It All Means:
- Sales are slowing, but the decline is gradual, not abrupt.
- Prices are starting to come down, especially in single-family homes (unlike condos, which are still up slightly).
- Inventory is rising, giving buyers more options and reducing bidding wars.
- Sellers may need to price more competitively or be flexible on terms.
The market is showing signs of cooling — fewer sales, slightly lower prices, and growing inventory. This shift may present opportunities for buyers while sellers may need to be more strategic and realistic with pricing.
A quick recap of the Brevard County Townhouses/Condos for March 2025:
- Closed Sales are down -19.4% for March 2025 in which the number of units closed was 191 compared to 237 in March 2024, with a decrease in cash sales of -12.2%.
- New Pending Sales are down -10.6% and New Listings are up 2.3%.
- The Median Sales Price for Brevard County Townhouses/Condos is up 3.0% to $309,000 compared to a year ago, which was $300,000.
- Months' Supply of Inventory is up 45.8% to 8.6 months, an increase from 5.9 months in March 2024.
- Traditional Sales are down -19.9% with a median sales price of $309,000.
- Foreclosure/REO Sales are 0% with 1 closed sale and a median sales price of $145,000.
- Short Sale Closings are N/A with 1 closed sale and a median sales price of $335,000.
What It All Means:
- Supply is up, demand is down, but prices are holding (for now).
- Buyers have more negotiating power due to more inventory and slower sales.
- If this trend continues, we might see price softening in the coming months.
A quick recap of the Brevard County Residential Report for the First Quarter of 2025:
- Closed Sales are down -3.5% for Q1 2025 in which the number of units closed was 2,201 compared to 2,282 in Q1 2024, with a decrease in cash sales of -8.1%.
- New Pending Sales are down -3.9% and New Listings are up 1.8%.
- The Median Sales Price for Brevard County Single Family homes is down -0.2% to $374,290 compared to a year ago, which was $375,000.
- Months' Supply of Inventory is up 25.0% to 4.5 months, an increase from 3.6 months in Q1 2024.
- Traditional Sales are down -3.4% with a median sales price of $375,000.
- Foreclosure/REO Sales are down -14.3% with 18 closed sales and a median sales price of $217,500.
- Short Sale Closings are down -25.0% with 3 closed sales and a median sales price of $272,000.
What It All Means:
- The market is cooling but stable—sales and prices are edging down, but not crashing.
- Inventory is building up, giving buyers more leverage.
- Prices are holding, but that may not last if supply keeps rising and demand stays soft.
- The lack of distressed sales suggests owners still have equity and are not under severe financial stress.
The First Quarter 2025 Residential Market Report for Brevard County continues to show signs of a gradual market shift—from a hot seller’s market in prior years to a more balanced or softening one.
A quick recap of the Brevard County Townhouses/Condos for the First Quarter of 2025:
- Closed Sales are down -8.8% for Q1 2025 in which the number of units closed was 506 compared to 555 in Q1 2024, with a decrease in cash sales of -9.8%.
- New Pending Sales are down -12.3% and New Listings are up 8.1%.
- The Median Sales Price for Brevard County Townhouses/Condos is down -1.7% to $295,000 compared to a year ago, which was $299,990.
- Months' Supply of Inventory is up 45.8% to 8.6 months, an increase from 5.9 months in Q1 2024.
- Traditional Sales are down -9.4% with a median sales price of $295,000.
- Foreclosure/REO Sales are up 66.7% with 5 closed sales and a median sales price of $225,000.
- Short Sale Closings are N/A with 1 closed sale and a median sales price of $335,000.
What It All Means:
- The condo/townhouse market is cooling more quickly than single-family homes.
- Demand is slowing, prices are dipping, and inventory is building up fast.
- Sellers need to price aggressively and prepare for longer days on market.
- Buyers have more leverage now, especially in negotiation.
The Q1 2025 Townhouse/Condo Market Report for Brevard County shows clear signs of a slower, shifting market—with buyer demand softening, supply increasing, and prices starting to edge down.