Hello Space Coast Community! Last quarter we said the market was leaning in favor of buyers, and that trend has continued. But here’s the interesting part: while some properties are sitting longer and inventory is building, others are still sparking bidding wars. It is a tale of two markets, and both perspectives, glass half-full or half-empty, are true at the same time.

If you are thinking about selling or planning your next move, now is the time to take a closer look at what is happening in Brevard County. Here is what the latest numbers show.

📈 THE MARKET SHOWS TWO SIDES

July’s numbers highlight a market that is slowing in some areas but holding steady in others. Buyers are gaining more negotiating power as inventory rises, yet certain homes in desirable price points or locations are still moving fast.

• Single-family homes: Closed sales dropped 8.9% year-over-year, yet the median price held steady at $380,000. Inventory climbed to 4.6 months, giving buyers more options, though well-staged and centrally located homes remain highly competitive.
• Condos and townhomes: The cooling trend is even clearer here. Closed sales fell 15.6%, the median sales price slipped slightly to $285,000, and inventory jumped to 8.4 months, firmly a buyer’s market.

🏠 LOCAL SNAPSHOTS: WHAT WE’RE SEEING

 Beyond the stats, here is what is happening on the ground:

• Fully updated homes in high-demand neighborhoods are still commanding strong offers. One of our recent Indialantic listings sold $20,000 over asking after a bidding war.
• Entry-level homes ($220,000–$320,000) are in short supply. When they are move-in ready and well-located, sellers often see multiple offers.
• Four-bedroom homes near Melbourne (especially within 15 minutes of the beach) are highly attractive to families relocating to the Space Coast.

If you fall in one of the above categories, the market is hot for you right now.

Meanwhile, new construction is pulling in buyers with strong incentives such as closing costs paid, interest rates as low as 4.99%, and attractive pricing compared to resale inventory.

🏦 INTEREST RATES AND WHAT’S NEXT

Rates remain the wild card. Many buyers are waiting for relief, and there is ongoing talk of future cuts, but no one can say for sure. What we do know is that when rates dip, affordability improves and buyer demand often follows. That is why we are keeping a close watch on resources like Mortgage News Daily. Many are now predicting a possible significant rate drop in September.

For now, buyers who are ready to act can secure strong deals, while sellers who prepare strategically can still achieve excellent results.

💡 IS THE GLASS HALF-FULL OR HALF-EMPTY?

It depends on your perspective. If you are a buyer, this market gives you more choices, more leverage, and in some cases better deals. If you are a seller, the key is preparation, presentation, and pricing. Done right, we have seen homes still sell at top dollar, and in some cases, spark bidding wars.

At Island Pineapple Realty, we believe real estate is not about timing the market perfectly. It is about taking the right steps, with the right guidance, for your unique situation.

🏡 LET’S TALK ABOUT YOUR NEXT MOVE

Real estate is hyper-local and changes neighborhood by neighborhood. If you are wondering what these numbers mean for you, let’s talk. Whether you are buying or selling, we will help you navigate with clarity and confidence.

Because at the end of the day, our goal is simple: helping you Love Where You Live.