2012 was a great year for real estate. Short sales and foreclosure have dominated the headlines…the reality is that they only account for 49% of our sales. The traditional seller makes up 61% of our residential sale for 2012. The buyers have come back, interest rates are ridiculously low, and our inventory is also very low. Because of this, our prices have stabilized and even gone up in areas, we are seeing multiple offers again, and homes are selling in days, not months.
Looking at the Brevard Market Pulse for the year you can see the consistency that has come back. Inventory has held right around 3300 all year. We are seeing 1200 new homes on the market every month. We are selling about 800 homes every month, which gives us about a 4 month supply of homes.
I will be following up with a more detailed breakdown of the numbers. Seeing what the highest and lowest home sale was and how they are being purchased (cash, conventional financing, FHA or VA loans) in the next few weeks. I am available for any questions you have regarding a particular neighborhood or city. You can either call me directly at 321-795-1854 or send me a message by clicking on the link below.
I appreciate the support and being able to help you in 2012 and I am here to help you with all of your real estate needs in 2013.
Thank you,
Eric Larkin
ERA Showcase Properties & Investments
EricLarkin's Blog 