Cash sales took a larger hit, falling 18.1% year-over-year
Brevard County Real Estate Market Recap – February 2025
The February 2025 housing market data for Brevard County reflects a noticeable cooling in both the single-family home and townhouse/condo segments. While home prices continue to show stability, sales activity has slowed, and inventory levels are on the rise—potentially signaling a shift toward a more balanced or even buyer-friendly market.
“We’re starting to see the early signs of a market transition,” said Nikki McCoy Freeman of McCoy Freeman Compass. “With more inventory coming online and fewer buyers competing, this could be a great opportunity for those who’ve been waiting on the sidelines.”
Single-Family Homes Market Overview
The Brevard County single-family home market in February 2025 saw a dip in activity compared to the same time last year:
- Fewer Homes Sold: Closed sales were down by 3.2%, with 745 units sold compared to 770 in February 2024. Cash sales took a larger hit, falling 18.1% year-over-year.
- Buyer & Seller Activity Slowing: New pending sales declined by 9.4%, while new listings were also down 5.6%, indicating reduced activity on both sides of the market.
- Prices Holding Steady: The median sales price rose slightly by 0.8% to $378,854, up from $376,000 last year.
- More Inventory Available: The months’ supply of inventory increased to 4.3 months, up 22.9% from February 2024, suggesting more homes are staying on the market longer.
- Distressed Sales Minimal: Traditional sales dipped 3.4% with a median price of $379,995, while foreclosure activity remains low at 8 closed REO sales and 1 short sale—both making up a very small portion of the market.
Summary: The single-family market is experiencing a modest slowdown, with fewer sales and growing inventory. However, prices remain stable and distressed sales are minimal—indicating a healthy, though cooling, market.
Townhouse & Condo Market Overview
The townhouse and condo segment saw more pronounced shifts in February:
- Decline in Closed Sales: Sales dropped 8.6%, with 170 units closed compared to 186 last February. Cash sales fell sharply by 19.1%, pointing to waning investor or second-home buyer interest.
- Buyer Demand Slows, Listings Rise: New pending sales plunged 24.2%, but new listings rose 11.2%, showing more sellers entering the market even as buyer demand fades.
- Stable Pricing: The median sales price inched up 1.1% to $302,500, reflecting price stability even amid declining sales.
- Inventory Surges: The months’ supply of inventory jumped 48.2% to 8.3 months, significantly more than last year’s 5.6 months, pushing the segment closer to a buyer’s market.
- Distressed Sales Remain Low: Only 2 foreclosure sales were recorded, and no short sales closed during the month.
Summary: The condo/townhouse market is cooling more noticeably, with higher inventory and reduced buyer demand. While prices are still holding up, sellers may need to adjust expectations as market conditions shift.
Final Thoughts
Overall, Brevard County’s housing market in February 2025 reflects a gradual shift. Sales activity is down, inventory is building, and while prices are still stable, longer selling times may become the norm in the months ahead. For buyers, this could mean more negotiating power and greater choices.
For sellers, pricing competitively and being patient may be key as the market adjusts.
