In general, sales are still up while listing inventory is down. According to Brevard MLS, single-family homes sold in Cape Canaveral and Cocoa Beach increased 45% over last year. Condo sales were up over 12% while condos listed over $250,000 were down 13.6%.
Looking at these numbers indicated things are not so bad beach side.
So is now the time to buy Florida Real Estate? I wish I had the magical crystal ball to tell you but usually a good time to buy is when prices are way down from their peek. For instance, take a look at the Pier Resort Condos Cocoa Beach across from the world famous Cocoa Beach Pier. We just listed a top floor 3 bedroom 3 bath 1900 sq. ft condo for $219,000. The owner paid $460,000 in 2007.
Over at the Ocean Club Condo Cocoa Beach a 3 bedroom 2 bath 2,759 sq. ft condo originally sold in August of 2007 for $799,900. 34 months later this condo sold for $425,000 which represents a $11,000 drop per month in value.
So you decide if now is the right time to buy.
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