In 2020 we had the 2nd highest number of closed sales of condo units in Cocoa Beach and Cape Canaveral since 2005, only four closings less than 2018's record sales of 734 units. That we did that during a pandemic and with about half the inventory of 2018 is a head-scratcher. We averaged about 140 units for sale at any one time in 2020 and are sitting at 84 existing units for sale this morning March 3, 2021. Can we do it again in 2021? If January and February are any indication the answer is yes. We closed 121 units in those two months this year compared to 91 in the same two months last year. We had sold a number of units equal to the entire inventory by February 12, just six weeks. Prices being paid continue to confound and I have promised myself to never again say "Good luck getting that" when I see a new overpriced listing. Having said that, as I look through the available listings I see a high floor direct ocean unit in Cocoa Beach with a garage asking $250,000. Even needing updating, that seems quite fairly priced considering the recently closed sales. Homework, y'all.
How about single family homes? In the first six weeks of 2021 there were 17 closed sales. Inventory of existing single family homes this morning in Cocoa Beach and Cape Canaveral is 13. Thirteen!
Good luck to everyone looking to buy. It's as competitive as it's ever been and the good listings are going to those who are able to react quickly. I just closed a sale with a young agent who called immediately after a new condo listing hit the market and went to preview for his out-of-town clients and wrote an offer on their instructions site-unseen before the rush of other agents and buyers had been in the unit. They have an oceanfront unit today only because their agent was proactive and they trusted him. Out of town buyers need to find a buyer's agent they can trust and be prepared to offer on her recommendation without having physically toured the property. Inspections can be done after the unit is under contract. Obviously a buyer needs to determine what features they must have and convey that to their agent and have some flexibility should not all the boxes be checked by a particular property. Did I say find an agent you can trust? Paramount.
"Jazz students will study these key changes for decades to come." __@Elimatas1 on the National Anthem as sung at CPAC 2021