Tuesday, March 07, 2017
There are currently 66 single family homes for sale in our two cities, exactly half of which have been on the market for less than two months. There are 244 condos and townhomes for sale, 27 of which do not exist yet giving a prospective buyer a universe of 217 existing units from which to choose. If an oceanfront building is a must-have, that number shrinks to 89 units with a median asking price of $375,000. A buyer looking for a direct oceanfront unit with at least two bedrooms and two baths asking less than $300,000 has two possibilities, both ground floor.
Closed sales for the month of February 2017 were considerably stronger than the same month a year earlier with 42 condos and townhomes closed, 40% of which were on the market less than a month and half of which were purchased with cash. Sixteen single family homes closed in February with a median time on market of 80 days. A third were purchased with cash.
The routine has not changed for those hoping to purchase. Have your financing and/or cash in order and be ready to move quickly when an attractive target presents itself. The best properties are going to those who act quickly. Our ongoing inventory shortage is showing no signs of abating.
After two days of temps in the 50s our winter that wasn't resumed with daily temps in the mid 70s to high 80s. The pleasant weather has made for crowded and slow conditions on the always packed (this time of year) Cocoa Beach golf course. For maximum enjoyment, golfers are advised to bring plenty of patience. The foursome in front will almost certainly be scavenging balls from every water hazard along the way slowing the pace even more. After Easter, it's "back to good" to quote Matchbox 20.
Here am I floating
round my tin can
Far above the Moon
Planet Earth is blue
And there's nothing I can do. __David Bowie