You'd have to be living in a cave not to have heard about the "cooling" real estate market. Cooling is an understatement when applied to our local market in Cocoa Beach and Cape Canaveral. We had a snail's pace of sales these last 2 weeks with only 15 total contracts and are at a new record inventory of 732 residential properties listed in our MLS. This contrasts with 465 total on April 2nd of this year. If you're a buyer, you are officially in the driver's seat. This does not necessarily mean that the bull run is over. This is always the slowest time of the year, so, next year we may be looking back at this as a great buying opportunity.
Interest rates eased slightly this week with the 30 yr. fixed at a nationwide average of 6.28%.
MLS Stats for Nov. 29, 2005
contracts last 14 days
condos over $500,000____ 3
condos under $500,000__ 10
homes over $500,000____ 0
homes under $500,000___ 2
active listings
condos all prices_______650
condos over $500,000__ 165
homes all prices_______ 82
homes over $500,000__ 42
