The numbers are in for August and, as expected, sales were very slow. Condo inventory has reduced somewhat but, at the current sales rate, it will take more than 3 years to absorb. I have seen some significant price reductions, most notably this week, a canalfront home in Cocoa Beach lowered to $399,000. Buyers with the nerve to step up and play are walking away with prices not seen in several years.
MLS stats from Cocoa Beach and Cape Canaveral
Active condos for sale, all prices________991
___condos over $500,000______________210
Single family homes, all prices__________140
Closed condos in August 2006___________28
Closed single-family Aug________________10
Labor Day was a great, longboard day of surf in Cocoa Beach. Small, glassy and peeling for blocks. The mullet run has started and I've pulled 2 snook out of the surf in the last week. Hopefully, the tarpon will move within casting range any day now. Get out there and enjoy fall in Florida. The kids are back in school, the tourists have gone home and the weather is beautiful.