2025 Space Coast Real Estate Market Update & Trends

Happy New Year! As we step into 2025, We wanted to provide you with an overview of the current real estate landscape on Florida’s Space Coast.

The housing market in our region is experiencing notable shifts. This growth in inventory offers more options for prospective buyers. However, the market faces challenges due to elevated mortgage rates and rising insurance premiums, which have contributed to properties spending more time on the market.

 

Despite these hurdles, the Space Coast’s expanding aerospace and technology sectors continue to attract new residents, bolstering the local economy and housing demand.

 

Looking ahead, experts anticipate a stabilization in the housing market, with gradual price appreciation expected by 2026.

 

If you’re considering buying or selling property this year, staying informed about these trends is crucial. Please feel free to reach out if you have any questions or need personalized insights.

 

Here’s to a happy, healthy, and successful 2025, Ryan & Amy

 

 

• Closed Sales are down -2.3% for Annual 2024 in which the number of units closed was 10,152 compared to 10,396 in Annual 2023, with a decrease in cash sales of -9.8%.
• New Pending Sales are up 0.3% and New Listings are up 10.9%.
• The Median Sales Price for Brevard Single Family homes is up 5.0% to $379,125 compared to a year ago, which was $361,000.
• Months’ Supply of Inventory is up 25.0% to 4.0 months, an increase from 3.2 months in Annual 2023.
• Traditional Sales are down -2.6% with a median sales price of $379,900.
• Foreclosure/REO Sales are up 45.1% with 74 closed sales and a median sales price of $246,000.
• Short Sale Closings are up 33.3% with 8 closed sales and a median sales price of $295,000.
  
  

• Closed Sales are down -9.3% for Annual 2024 in which the number of units closed was 2,346 compared to 2,587 in Annual 2023, with a decrease in cash sales of -13.8%.
• New Pending Sales are down -6.7% and New Listings are up 12.6%.
• The Median Sales Price for Brevard Townhouses/Condos is down -1.3% to $295,000 compared to a year ago, which was $299,000.
• Months’ Supply of Inventory is up 44.9% to 7.1 months, an increase from 4.9 months in Annual 2023.
• Traditional Sales are down -9.3% with a median sales price of $295,000.
• Foreclosure/REO Sales are 0.0% with 9 closed sales and a median sales price of $167,000
• Short Sale Closings are down -100.0% with 0 closed sales and a median sales price of (no sales.)