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August 2020 VS 2021
UNEMPLOYMENT
USA UNEMPLOYMENT RATE
Adam's Insight: THE COUNTRY CONTINUES IN THE RIGHT DIRECTION
FLORIDA UNEMPLOYMENT RATE
Adam's Insight: FLORIDA BEATS THE NATIONAL AVERAGE
HOMES SOLD
HOMES SOLD IN BREVARD COUNTY
July 2020 1,536
July 2021 1,322
August 2020 1,312
August 2021 1,397
HOMES SOLD IN COCOA, FLORIDA
July 2020 124
July 2021 116
August 2020 107
August 2021 107
ACTIVE HOMES FOR SALE
HOMES FOR SALE IN BREVARD COUNTY
July 2020 2,704
July 2021 1,548
August 2020 2,530
August 2021 1,663
HOMES FOR SALE IN COCOA, FLORIDA
July 2020 197
July 2021 103
August 2020 186
August 2021 129
ABSORPTION RATE
The absorption rate is a measurement of how long the current inventory of properties would last at the current rate of sales. For example, in 2008 (a buyers market) the rate reach 23.45. This means that the rate of sales in August of 2008, there were 23 months of home inventory on market. In September of 2020, the absorption rate of 1.93 (sellers market) means that there are very few options for buyers and only two months of inventory available.
ABSORPTION RATE IN BREVARD COUNTY
July 2020 2.46
July 2021 1.15
August 2020 2.26
August 2021 1.25
Adam's Insight: THE INCREASE IS COMING
Absorption rate is an interesting statistic. If a single home was not listed, in 1.15 months every home would be sold with the current demand. The statistic can be tricky, because million dollar homes and homes that need a gut job can throw off the measurement. A 1.15 absorption rate means that we are in a sellers market. A stable market is around 4.0, this means that we have a long ways to go.
ABSORPTION RATE IN COCOA, FLORIDA
July 2020 2.06
July 2021 0.91
August 2020 1.92
August 2021 1.15
Adam's Insight: EVERY INCREASE IS HELPFUL
The City of Cocoa just doesn't have much for sale. If you want to buy in Cocoa you may need to sit back and wait. The inventory of homes is slowly increasing, but it is a great time to sell. We can still earn you 15% more than I believe you will see in a year from now.
AVERAGE SALES PRICE
AVERAGE HOME SALES PRICE IN BREVARD COUNTY
July 2020 $301,459
July 2021 $358,264
August 2020 $298,166
August 2021 $363,348
Adam's Insight: AS INVENTORY INCREASES, PRICES WILL FALL BUT NOT TODAY
Home values are increasing at an alarming rate. The average sales price does not necessarily measure the value of a home, but it is a strong indicator of home prices. The average home in Brevard County has increased $50,000 in the last year. If you choose a good real estate agent your home value can increase even more.
AVERAGE HOME SALES PRICE IN COCOA, FLORIDA
July 2020 $221,529
July 2021 $274,198
August 2020 $231,500
August 2021 $256,380
DAYS ON MARKET
MEDIAN DAYS ON MARKET IN BREVARD COUNTY
July 2020 27
July 2021 5
August 2020 16
August 2021 6
MEDIAN DAYS ON MARKET IN COCOA, FLORIDA
July 2020 15
July 2021 5
August 2020 13
August 2021 4
Adam's Insight: DOGHOUSES ARE SELLING AT ALARMING RATES TO FAMILIES
Homes are selling quickly and many people price them low. Don't be impressed when you get 10 offers on your home, you should worry about your pricing! Obligation free property pricing is available, inquire through our contact page.
SHORT SALES / BANK OWNED / AUCTION
SOLD SHORT SALES/BANK OWNED/AUCTION IN BREVARD COUNTY
July 2020 28
July 2021 14
August 2020 19
August 2021 17
Adam's Insight: HOW CAN YOU SHORT SELL WHEN PRICES ARE THIS HIGH
It is hard to short sell when prices are this high. We have surpassed the 2006 bubble and now everything has equity. Anyone short selling should receive an award for doing the impossible.
MOST EXPENSIVE SOLD IN BREVARD COUNTY - AUGUST 2021
10280 S. Tropical Trail, Merritt Island, FL 32952
Sold Price: $4,200,000
Listed Price: $4,900,000
Living SqFt: 9,027
Year Built: 1991
Bedrooms: 5
Baths: 6 Full 1 Half
Acreage: 4.87
Listing Agent:
Reference:
Written by:
Adam Maxfield
Realtor
Keller Williams Realty Brevard
(321) 423-8283
Adam@MaxfieldHomeSolutions.com
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