Quarterly Market Details for Brevard County, Florida
Source: Space Coast Association of REALTORS® with data provided by multiple listing services in Florida.
Â
Closed Sales refers to the number of property transactions that have been successfully completed within a specific period, usually a quarter. It shows that buyers and sellers have agreed on the sale and the property has changed ownership. This helps us understand how well the real estate market is doing and make informed decisions about property values.
To determine how much houses are generally being sold for, we use the median home sales price. This method avoids being influenced by rare or extreme sales that might occur in a single month. It provides a more accurate understanding of the housing market and provides a reliable indicator of the typical price of homes being sold.
Â
Time to Sale is a measure of how quickly a house gets sold. It calculates the number of days between when a house is listed for sale and when the sale is finalized. Median Time to Sale represents the middle value, where half of the houses took less time to sell and half took more time. It provides an accurate understanding of the typical duration for selling a house, unlike Avg. Time to Sale, which can be influenced by a few houses taking an unusually long time to sell.