Brevard County’s Investment Market in May 2020: New Opportunities Arising
Posted: May 21st, 2020
Over the last several years, Brevard County has become a major point of interest for property investors around the world. Its booming economy and status as a major hub for defense and aerospace corporations packs a lot of appeal and renting power for investors. However, in light of the COVID-19 outbreak, many people have been hesitant to deal with matters of real estate. How has the Brevard County investment market changed due to these unprecedented events?
The Brevard County Investment Market Remains Strong
Over the last few months, the strength of the Brevard County investment market has surprised many, holding strong and providing interesting new opportunities for investors. Companies like L3Harris, which recently donated $2 million to COVID-19 relief efforts, have continued to grow during the outbreak, still attracting new residents to the area. Furthermore, major corporations continue to recognize the abundance of resources available in the area, moving their headquarters to the Space Coast. Notably, at the end of April, Aerion Supersonic announced their intention to move their headquarters to the Orlando Melbourne International Airport.
New trends in the investment market
The market itself has developed a few interesting trends. While the initial economic shutdown did cause a notable slowdown in operations, new listings and sales have picked back up, and are for the most part following typical seasonal trends. Many sellers responded to the pandemic in different ways. While some removed their listings until everything reopened, others held fast on the market. This has created a catalog of homes at interesting locations at unusual price points for investors to choose from.
Adapting to a new reality
While some real estate practices have changed for safety reasons, the Ellingson Properties team still provides investors with white-glove service. From hosting virtual walkthroughs to handling appointments via teleconference, we have adapted our systems to keep our clients and staff safe while continuing to move luxury real estate on the Space Coast. Day by day, both buyers and sellers become more active, and this summer is shaping up to be a busy season.
Now is the Time to Enter the Investment Market
Whether you’re a seasoned investor or just interested in entering the market, now is the time to invest on the Space Coast. With an economy that continues to flourish and proximity to world-class amenities, Brevard County promises to continue growing in appeal to residents from all walks of life. To learn more about investing in Brevard County properties, call Ellingson Properties at 321-750-7050 today.