We are at the peak of snowbird season in Cocoa Beach and Cape Canaveral and activity in real estate is busy as is always the case this time of year. Thirty nine residential properties have gone under contract since March 1. Lower priced properties have seen the most activity with 33 of the 39 asking under $400,000. Nine of the 39 are single-family homes, all but one in the under $420,000 range. During the same two week period 33 properties, contracted earlier, have closed. Eight of those were single family homes.
Sales of note included a nicely remodeled, 4th floor direct ocean Stonewood of Cocoa Beach Sand Dollar wide floor plan 2/2 that sold for $530,000 or $360 per square foot.
A remodeled & furnished 6th floor direct ocean SE corner 3/2 Beach Winds downtown Cocoa Beach sold for $434,000.
A small, remodeled ground floor, direct ocean 3/2 Sea Oats of Cocoa Beach sold for $325,000. It had no ocean view.
A partially remodeled direct Banana River 4th floor 2/2 Harbor Isles of Cocoa Beach sold for $275,000.
These are representative of the types and prices of condos currently selling. Those looking to purchase have a total of 220 condo units to consider in all price ranges. Potential buyers looking for a direct ocean unit asking less than $400,000 have five possibilities. If they want above the ground floor that drops to three units between $375,000 and $395,000.
As always, buyers need to have an idea what represents a fair price range for the type of property they're looking for. The opportunities to overpay for a Cocoa Beach condo are abundant, more so than at any time in the last several years. The majority of our for sale inventory is overpriced and uninformed buyers or those without an experienced local buyer's agent are at a disadvantage. Know this market or engage someone who does.
I hope everyone has been enjoying the summer weather this month. Expected to hit 80 again today. Please be aware of the poor golfers behind you. If you haven't had to wait on anyone ahead of your group but you see the guys behind you every time you look back, your group is probably playing too slowly. Thanks in advance.
“Expecting the world to treat you fairly because you’re a good person is like expecting a bull not to attack you because you’re a vegetarian." __Dennis Wholey