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Brevard County Real Estate Market Report for November 2022



Unemployment Rates

A healthy economy has a 3-5% unemployment rate, however a 3-5% unemployment rate does not always indicate a healthy economy.



National Unemployment Rate


2021 2022


Adams Insight: The #FED is continuing to increase interest rates. The goal is to slow inflation which is causing many problems. Housing is one market that has been destroyed by the high home prices with cheap money (30 year loans). For example, in my neighborhood the home values have greatly increased every year. A healthy market increases by 4%+/-. In 2019 my neighborhood increased by 19%, in 2020 the homes increased by 22%, 2021 values increased by 27%, 2022 values increased by 25%. This means that home values almost tripled in 4 years. This causes me to worry about what the correction is going to look like in the future.


Florida Unemployment Rate

2021 2022

February 5.6% 3.3%

March 5.4% 3.2%

April 5.1% 3.0%

May 4.9% 3.0%

June 4.8% 2.8%

July 4.5% 2.7%

August 4.3% 2.7%

September 3.9% 2.7%

October 3.7% 2.7%

November 3.5% 2.7%

December 3.5%


Adams Insight: The low employment will hopefully earn every worker a high income. The competition increases prices and demand. I know that plumbers have quadrupled their rates. We just paid for a new sewage line, 3 years ago it would have cost $7,000, today it costs $16,000 and that didn't include cleanup.


Brevard County Property Sales Statistics



Brevard County Properties Sold


2021 2022

January 989 988

February 1,179 1,093

March 1,553 1,359

April 1,515 1,309

May 1,349 1,289

June 1,522 1,355

July 1,332 1,062

August 1,397 1,200

September 1,257 1,075

October 1,354 1,063

November 1,232 807

December 1,332


Adams Insight: Not to sound like a broker record, but we have another sad broken record. In the last 2 years we have not seen less than 987 home sales. This November we hit a low of 800. A 34% decrease should tell you that the mainstream media will start changing their tune sooner or later. The market is changing, hopefully stablizing.


Brevard County New Listings



2021 2022

January 1,396 1,294

February 1,420 1,313

March 1,536 1,607

April 1,582 1,561

May 1,469 1,700

June 1,602 1,744

July 1,669 1,696

August 1,538 1,528

September 1,398 1,172

October 1,413 1,311

November 1,262 1,032

December 1,063


Brevard County Active Listings

2021 2022

January 2,018 1,174

February 1,702 1,081

March 1,479 1,110

April 1,515 1,146

May 1,367 1,441

June 1,420 1,686

July 1,593 2,152

August 1,665 2,514

September 1,727 2,509

October 1,615 2,641

November 1,521 2,723

December 1,347


Brevard County Absorption Rate

2021 2022

January 1.68 0.88

February 1.40 0.81

March 1.20 0.83

April 1.06 0.87

May 1.06 1.11

June 1.07 1.3

July 1.18 1.68

August 1.25 2.0

September 1.29 2.2

October 1.21 2.15

November 1.14 2.26

December 1.01


Brevard County Average Sales Price

2021 2022

January $298,597 $354,264

February $291,443 $373,913

March $315,019 $388,414

April $346,745 $419,303

May $331,249 $418,863

June $348,784 $419,316

July $358,399 $415,560

August $363,348 $426,527

September $367,150 $398,460

October $357,873 $392,498

November $355,011 $383,069

December $368,250


Brevard County Median Days on Market


2021 2022

January 15 7

February 15 5

March 12 4

April 9 4

May 5 4

June 7 5

July 7 7

August 7 10

September 7 13

October 6 15

November 6 20

December 7


Brevard County Short Sales / Bank Owned / Auctions

2021 2022

January 10 10

February 13 4

March 10 7

April 16 4

May 8 6

June 20 6

July 14 4

August 17 5

September 9 3

October 7 7

November 13 5

December 11


Written by Adam Maxfield

Real Estate Sales and Investing

Keller Williams Realty of Brevard

(321) 423-8283


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