What's Happening?
In Brevard County, the median home list price for September was $379,000, marking a slight decrease from the previous month's $380,000, according to data from Realtor.com. This represents a 2.8% decline
from September 2024, when the median price was $390,000. The median home size was 1,730 square feet, with a listing price of $228 per square foot, down 2.3% from the previous year. Homes in the area were listed for a median of 75 days, longer than the national median of 62 days. The number of new listings in September was 1,112, a 6.7% decrease from the previous year.
Why It's Important?
The decline in median home prices in Brevard County reflects broader trends in the real estate market, where price adjustments are occurring due to various economic factors. This decrease may benefit potential homebuyers looking for more affordable options, but it could also indicate a cooling market that might affect sellers' ability to achieve desired sale prices. The extended time homes remain on the market suggests a potential shift in buyer demand or market saturation, impacting real estate agents and local economies reliant on property sales.
