Ah, May at the beach. The snowbirds, baseball teams and spring breakers have departed. The weather has warmed up and the roads, restaurants, grocery stores, beaches and golf courses are uncrowded for a few weeks. By the end of this month traffic will pick back up as schools let out for summer and day-tripping inlanders join our early summer vacationers. In the interim, the locals are breathing a little easier and walking a little slower and enjoying this beautiful place that we share.
Our condo inventory has pulled back from its recent high. This morning there are 366 condo and townhouse units for sale in Cocoa Beach and Cape Canaveral. In the month of April 42 units found a buyer so we are looking at about a nine month supply at that same sales rate. Half of the remaining inventory has been for sale for three months or longer.
There are 79 single family homes for sale in the two cities and 11 homes found a buyer in April so about a seven month supply of homes.
Buyers are active in our market although cautious. The number of price drops exceeds new listing by a wide margin daily. As sellers accept the 2025 market reality and modify their expectations accordingly I believe we’ll continue to see a steady stream of sales barring some further macro shocks to the economic system.
Get out there and enjoy May at the beach. If you haven’t stopped by the Koko Japanese Pub downtown Cocoa Beach for a meal, make plans to. They are a welcome addition to our quite varied and good restaurant selection downtown. A shot of their chirashi bowl and bluefin roll (background) at top. Both excellent.
“It makes sense to dance while the music's playing.” _Maynard G. Krebs
