Brevard County Market Report - February 2025

The Brevard County real estate market in February 2025 saw a shift in trends, with sales activity slowing, inventory levels rising, and home prices remaining stable. Whether you're a buyer, seller, or investor, understanding these market shifts can help you make informed decisions. Here’s a breakdown of the latest housing statistics for single-family homes and townhouses/condos in Brevard County.

Brevard County Single-Family Homes – February 2025

Key Market Trends:

• Closed Sales Decline: Single-family home sales dropped by 3.2%, with 745 homes sold compared to 770 in February 2024.

• Cash Sales Drop: A significant 18.1% decrease in cash sales suggests a cooling demand from investors and cash buyers.

• New Pending Sales and Listings Decline: New pending sales are down 9.4%, and new listings fell 5.6%, indicating a slowdown in market activity.

• Median Sales Price Slightly Up: The median sales price increased by 0.8% to $378,854, showing resilience in home values.

• Rising Inventory: The months' supply of inventory increased by 22.9%, now sitting at 4.3 months, compared to 3.5 months in February 2024. This signals a shift toward a more balanced market.

• Distressed Sales Remain Low: Foreclosure sales remained at 8 closed sales, with a median price of $244,950, while short sales had only 1 closed sale at $174,000.

What This Means for Buyers & Sellers:

• Buyers may have more options as inventory rises, leading to less competition and more negotiation power.

• Sellers should adjust expectations as homes may take longer to sell, requiring strategic pricing and marketing.

• Investors may need to reassess strategies as cash sales decline.

Brevard County Townhouses & Condos – February 2025

Key Market Trends:

• Closed Sales Decline: Condo and townhouse sales dropped 8.6%, with 170 units sold versus 186 in February 2024.

• Cash Sales Down: A 19.1% drop in cash sales indicates a slowdown in demand from cash buyers.

• New Pending Sales Decline, But Listings Increase: Pending sales fell sharply by 24.2%, while new listings increased by 11.2%, meaning more properties are hitting the market, but fewer buyers are making offers.

• Median Sales Price Up: The median price rose 1.1% to $302,500, compared to $299,345 last year.

• Inventory Surging: The months' supply of inventory skyrocketed by 48.2%, now at 8.3 months, up from 5.6 months in February 2024. This shift favors buyers as more properties become available.

• Minimal Distressed Sales: Foreclosures accounted for just 2 closed sales, with a median price of $320,000. There were no recorded short sales.

What This Means for Buyers & Sellers:

• Buyers have more choices and may find better deals as inventory levels rise.

• Sellers may experience longer selling times and should consider competitive pricing strategies.

• The increase in listings suggests more homeowners are trying to sell, possibly in response to changing market conditions.

Final Thoughts: What’s Next for Brevard’s Housing Market?

The February 2025 housing data indicates a cooling market with fewer sales, rising inventory, and stable prices. While this shift gives buyers more opportunities, sellers may need to be more patient and flexible. If you’re considering buying or selling in Brevard County, now is the time to work with a knowledgeable real estate expert to navigate these changing conditions.

For personalized market insights or to discuss your real estate goals, feel free to reach out. Let’s find the best strategy for your next move in Brevard County!