Jason Koivu - SFR Certified Realtor Brevard County, Florida

The Space Coast State Fair that is normally in Titusville will actually be in Viera, Florida this year. Apparently the venue in Titusville is not large enough to handle the enormity of the event so the organizers agreed to relocate the fair to Space Coast Stadium in Viera. It will be held in the parking lots of the stadium which is summer training grounds for the Washington Nationals and summer home of minor league Brevard County Manatees.

Rides will be unlimited this year with the purchase of a $10 or $12 gate pass. There will be daily circus shows, monster truck events Nov 16-20, Seth Elliott Xtreme MotoCross FMX stunt show, concerts and more. It will be a fun packed set of family events. The website for the fair summarizes all event and fair times as well as gate prices for entrance. Enjoy the festivities of the Space Coast State Fair.

As we get closer to the end of another year, we begin to develop business plans for the next year and try to predict what the selling season will be like in the short future. We can some times look to trends to give us an idea of where the next year will fall but real estate has been unpredictable since 2007 in Florida. Here is what has been going on in October 2011 in Brevard County, Florida. Homes that sold in October 2011 versus October 2010 are almost flat - down .8%. This would be another sad tale of the housing market if it was for the performance of sales earlier in the year. 2011 is still running more than 11% up over last year in number of homes sold. These results include single family homes, townhomes and condos.

*New Listings are down from October 2010 - (12.55%) - YTD down (20.26%)

*Sold Listings are down from October 2010 - (.75%) - YTD up +11.38%

*Volume Sold is up from October 2010 - +9.49% - YTD up +7.64%

*Average Sale Price is up from October 2010 - +10.31% - YTD down (3.36%)

Here is what is selling in Brevard County, Florida in average sales price:

$0-$49,999 - 131 units sold (19.8%)

$50K-$79,999 - 115 units sold (17.4%)

$80K-$99,999 - 73 units sold (11.0%)

$100K-$159,999 - 151 units sold (22.8%)

$160K-$199,999 - 59 units sold (8.9%)

$200K-$249,999 - 49 units sold (7.4%)

$250K-$299,999 - 23 units sold (3.5%)

$300K-$399,999 - 27 units sold (4.1%)

$400K-$499,999 - 20 units sold (3.0%)

$500K+ - 13 units sold (2.0%)

48.3% of all homes sold in Brevard County were priced between $0 and $99,999. 31.8% of homes sold were priced between $100,000-$199,999. The average median sales price in Brevard County for October 2011 was $140,227 which is up from September by 3.76%. 52.5% of all homes sold in October 2011 were paid for with cash which is much higher than the national average.

Current inventory on the market is broken down like this:

Residential Homes 3,048 on the market - 778 are short sales - 239 are bank owned

Condos 853 on the market - 114 are short sales - 89 are bank owned

Townhomes 226 on the market - 53 are short sales - 23 are bank owned

Total 4,127 homes on the market - 945 are short sales - 351 are bank owned

22.9% of homes on the market in Brevard County are listed as a short sale. 8.5% listed on the market are bank owned properties. Inventory has been dropping from 2011 although not as steady as it was in the begining of the year. If inventory continues to drop we could expect to see more homes back on the market from banks needing to unload properties. So, just because inventory is going down it does not mean the area will see immediate price increases. If demand continues to keep pace and sellers keep their homes off the market, it could start to create average median price increases.

So, those are the home sales statistics for Brevard County Florida for October 2011.

Believe it or not, there are almost 100 active listings on the market in Brevard County priced at one million dollars or above. I have not done evaluations on each property but I am sure considering the state of the market that there are some homes at a great value available. You can take a look at the listings and dare to dream or bring your prequalification and we can check them out. Have any questions about these million dollar homes, please let me know.

As the market has softened, beachfront property has become more and more affordable. It will not be at a discount forever because it is a limited commodity. Here is a list of about 60 Cocoa Beach condos that are priced under $200,000 and located in communities that are either oceanfront or riverfront. Not all of these units will have a view of the water so I can show you which units do have waterview. http://goo.gl/lRYUz

If you have any questions, please let me know.

Although bank owned properties are down significantly from the peak of the market, there are still options available in Brevard County, Florida. There are just under 200 listings available locally. Here is a link to a short summary on each property - goo.gl/lz7QD. They are listed from the highest to lowest prices so if you are looking for homes under $40,000, then you will want to scroll to the bottom.

If you want more information on any of these properties, please let me know and I will be happy to help you. I am SFR Certified Realtor and can help you navigate the purchase process.