Steven R Natschke

October prices remained flat, Median Sales Price went up in the 32937 Zip Code to $529K and stayed at $370K in the Space Coast overall. The number of properties sold dropped significantly – 49% for the Zip Code and 44% for the County. The increase in average sales price per square foot matched the increase in median sale price: 4% for the Zip Code and 0% for the county. The average days on market moved in opposite directions down 18% to 51 days in the Zip Code and up 7% to 66 days in the county. The number of properties for sale dropped by 7% in the zip code and 6% for the county. Builders are still constructing single-family homes and condominiums in the area. There are numerous remodels and rebuilds going on as well.

If you read the fine print, you will notice that the Market Snapshots are compared to the average for the previous three months. The graph labeled Price Trends depicts the median sales price by month from January 2023 through October 2024. It includes all residential property, so the numbers are slightly different. In any case, you can still see that there has been a generally upward trend in median sales prices in the county over the last 22 months.

The 32937 Zip Code is part of the Space Coast and consists of Satellite Beach, Indian Harbour Beach, and South Patrick Shores. It is bounded by Patrick Space Force Base to the north, Eau Gallie Causeway to the south, the Atlantic Ocean to the East, and the Banana River to the west.

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Interestingly, during the month of August, nearly every metric went down both in the 32937 Zip Code and Space Coast overall. We can’t be sure at this point if this is because of the growing pains related to the change in the way of doing business or if it will be a continuing trend. The median sales price in the 32937 Zip Code dropped 9% to $503K and the price per square foot fell 5%. The median sales price in the county rose 2% and the price per square foot went down 3%. It takes 60 days on market to sell a property in the county and 50 in the zip code. The number of properties for sale dropped by 3% in the zip code and 5% for the county. Builders are still constructing single-family homes and condominiums in the area. There are numerous remodels and rebuilds going on as well.

Let me know if you find this information useful. What else would you like to know?

https://stevennatschke.cbfloridahomes.com/
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