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Brevard County Real Estate Market Report for May 2024


Image of market changes, home sales in brevard county are up by 1%, homes listed are up 90%



Unemployment Rates

The unemployment rate is a great market indicator for the future market. As long as employment numbers are strong, mortgages will be paid and manufactured items will be purchased.


National Unemployment Rate

2023 2024


Adam's Insight: May is the first time the unemployment rate has broker 4% in 3 years. The rate has been hovering around 3.4-3.9%. We are starting to see home inventories growing and unemployment increase. The market is starting to change, but what will this mean? Hopefully competition will decrease project pricing and increase construction again and increase affordability.


Florida Unemployment Rate


2023 2024

February 2.6% 3.1%

March 2.6% 3.2%

April 2.6% 3.3%

June 2.6%

July 2.7%

August 2.7%

September 2.8%

October 2.8%

November 2.9%

December 3.0%


Adam's Insight: Florida has not documented May unemployment rates.


30 Year Mortgage Rate Average in United States
*This information is pulled from the Federal Reserve and Freddie Mac. These are averages for information purposes only. This information is for the first day of the month; remember that a lot can change in 30 days.



2023 2024

January 6.48% 6.62%

February 6.09% 6.63%

March 6.65% 6.94%

April 6.32% 6.82%

July 6.81%

August 6.9%

September 7.18%

October 7.31%

November 7.76%

December 7.03%


Adam's Insight: The inflation rate has not slowed to the #FEDs goal of 2.0% or less. As long as the government prints more currency, the inflation rate will continue to increase. The government is stuck in a pickle, if inflation is low and the economy is strong higher interest rates are better for businesses and the economy as a whole. If inflation is high then the interest rate must stay high to reduce the rate of inflation.


Spot Gold Price (Price per Ounce)




2023 2024

January $1,829 $2,063

February $1,953 $2,054

March $1,836 $2,082

April $1,984 $2,249

May $1,981 $2,320

June $1,948 $2,350

July $1,919

August $1,952

September $1,940

October $1,825

November $1,985

December $2,072


Spot Silver Price




2023 2024

January $24.10 $23.82

February $24.05 $23.15

March $20.98 $23.13

April $24.10 $25.09

May $24.96 $26.64

June $23.88 $30.74

July $22.77

August $24.40

September $24.18

October $20.89

November $23.05

December $25.47


Brevard County Property Sales Statistics


Brevard County Properties Sold

A chart showing the sold to list ratio is falling.
Dropping Sold to List Ratio

2023 2024

January 738 686

February 967 893

March 1,262 1,109

April 1,167 1,147

May 1,230 1,246

June 1,188

July 986

August 1,108

September 1,007

October 914

November 908

December 814


Adam's Insight: Homes are selling but it takes a little more work. The days are over of a quick flip and making a big profit. In the last month I have received 5 calls from homeowners that are struggling to pay their mortgage to discuss options. It is just the beginning but we will see prices fall due to the cost of living and debt to income ratios.


Brevard County New Listings


A chart of Sold, Active and New Listings for Brevard County Florida.
Active Inventory Increases by 5% per Month

2023 2024

January 1,362 1,578

February 1,210 1,559

March 1,535 1,804

April 1,355 1,781

May 1,489 1,734

June 1,309

July 1,353

August 1,476

September 1,397

October 1,389

November 1,226

December 1,026


Brevard County Active Listings

A chart showing the median prices for Active, Sold and New listings for Brevard County Florida.
Active Median price is off the chart but sold median is falling

2023 2024

January 2,672 3,553

February 2,538 3,862

March 2,354 4,037

April 2,332 4,295

May 2,317 4,417

June 2,367

July 2,469

August 2,537

September 2,826

October 3,055

November 3,285

December 3,248


Brevard County Absorption Rate


A chart showing the real estate absorption rate for Brevard County Florida
Consistently growing at 5% per month.

2023 2024

January 2.35 3.42

February 2.27 3.73

March 2.13 3.92

April 2.13 4.22

May 2.14 4.34

June 2.19

July 2.31

August 2.39

September 2.67

October 2.9

November 3.15

December 3.09


Brevard County Average Sales Price


A chart of Brevard County Real Estate Price Volume
Sold Volume is Flat while Active is increasing every minute.

2023 2024

January $394,815 $414,497

February $394,504 $413,611

March $394,311 $391,721

April $425,760 $457,901

May $420,068 $437,357

June $416,083

July $418,235

August $435,410

September $408,702

October $409,171

November $426,062

December $400,425


Brevard County Average Days on Market


A chart of Days on Market of Brevard County Florida
Days on Market Increases Again

2023 2024

January 26 58

February 31 59

March 22 82

April 68 76

May 18 84

June 14

July 15

August 18

September 19

October 22

November 23

December 29


Written by Adam Maxfield

Real Estate Sales and Investing

Keller Williams Realty of Brevard

(321) 635-0060



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