Brevard County Real Estate Market Trends for 2019

Posted: November 6th, 2019

Last year, West Melbourne’s real estate market was voted one of the healthiest housing markets in the country, according to SmartAsset. With more closed sales than in years prior, steadily increasing median sales prices, and an overall reduced time from listing to sale, Brevard County’s housing market caught the attention of investors and interested homebuyers around the world. 

This year, there’s much more growth and change in store. With the ever-booming space exploration industry truly taking off, we can expect increased numbers in both tourism and new residents to the area. Here are a few other market predictions for this year: 

• Homes in Master Planned Communities will Continue to be Hot Commodities. We shared an article from last year that Viera was one of the top-ranked master-planned communities in the country. The popularity of similar communities is only increasing, with two Florida master-planned communities breaking the 2017 sales record last year. Market analysts predict that more people will flock to vacant homes in these areas.
• We Will See More Property Investors Arriving from the North. The boom of the space travel industry in Brevard County has created innumerable opportunities for the Space Coast. It’s only one of the reasons why our area is so popular for snowbirds and property investors from up north. As the industry continues to expand, we can expect to see steady demand for property from our neighbors to the North.
• Median Home Price Growth is Expected to Dip Nationwide, but Florida’s Market Will Remain Hot. Nationwide, we can anticipate an increase in mortgage interest rates, which will in turn slow overall growth of the median housing price point.. However, just as Florida's market boomed last year, we can expect to see continued growth throughout 2019.
  

Overall, it looks like Florida’s housing market will continue to bustle in 2019, bringing in buyers and investors from all across the country and around the world. A healthy housing market is a good indicator of a healthy overall economy. With so much going on across Brevard County, including the expansion of Port Canaveral, the arrival of new aerospace tech companies, and the attention of foreign investors, we can expect great things for our hometown in 2019. To learn more, call Ellingson Properties at 321-750-7050 today.