Hello Space Coast Community! The Space Coast real estate market continues to show strong activity, and this quarter offered some interesting trends. While overall sales are up, home prices show a slight dip, and buyer activity is increasing. It is a dynamic market, and both perspectives, glass half-full or half-empty, are true at the same time.
If you are thinking about buying or selling, 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 STRONG MOMENTUM
Single-family homes: Closed sales are up 10.6% compared to October 2024, with 843 homes sold. The median sales price fell 6.2% to $360,000, and inventory rose slightly to 4.2 months. Traditional sales remained healthy, while foreclosure activity increased but still represented a small portion overall. Short sales were minimal.
Condos and townhomes: Closed sales are up 14.6% from last year, with 173 units sold. The median sales price increased 5.2% to $292,000, and inventory climbed to 7.7 months. Buyer activity is strong, with more new listings entering the market, creating fresh opportunities. Foreclosures and short sales remained negligible.
LOCAL SNAPSHOTS: WHAT WE’RE SEEING
On the ground, homes in desirable locations continue to attract buyer interest quickly. Fully updated properties remain appealing, and higher cash sales reflect strong buyer engagement. Inventory remains balanced, offering choices without creating excess supply.
New construction is also active, with homes attracting buyers through competitive pricing and incentives.
INTEREST RATES AND WHAT’S NEXT
Rates continue to be a factor in buyer decisions. While no one can say for certain, many are watching for potential changes in the near future. If rates dip, affordability improves and buyer activity is likely to increase.
IS THE GLASS HALF-FULL OR HALF-EMPTY?
It depends on your perspective. Buyers have more options and opportunities to enter the market, while sellers who prepare their homes strategically can still achieve strong results.
BROKER’S TAKE ON INDIALANTIC/MELBOURNE BEACH
Real estate is hyper-local, and market activity can vary even within the same postal code. Inventory remains tight in the South of 5th Ave Indialantic and Melbourne Beach market, with only 31 single-family homes currently available. Less than half of these homes are under $1 million. We are seeing the continuing trend of homes in prime locations that are in good condition selling very quickly.
Homes in these areas that are well-maintained and priced appropriately continue to move fast, and buyer demand remains steady. This part of the market is highly competitive, with limited availability and strong interest from both local and out-of-state buyers.
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
If you are wondering how these numbers affect your buying or selling goals, let’s talk. We can help you navigate the local market with clarity and confidence.
Because at the end of the day, our goal is simple: helping you Love Where You Live.
