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Palm Bay Real Estate Market Trends – Florida

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Palm Bay Real Estate Market Conditions and Trends

Homes for Sale > Real Estate Market > Florida Real Estate Market > Palm Bay Real Estate Market

Winter 2012 Market Update If you can qualify, now is an exceptional time to buy a home in Palm Bay. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 321-693-3412
Average Home Price	$100,000 - View Graph Trend

Average Price Compared to Last Year	Down 0-5%

Average Time on Market	More than 120 days

Best Selling Price Range	$100,000 - $149,000

Worst Selling Price Range	$200,000 - $249,000

Prices As % of Asking Price	95-100%

Existing Home Prices for the past 90 days are?	No Change

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More buyers than sellers

Buyer Activity for the past 90 days in Palm Bay is	Increasing

Seller Activity for the past 90 days in Palm Bay is?	No Change

Multiple Offers?	Yes

Multiple Offers Commentary	Bank owned properties are priced so far below market that there are often 8 or more offers on one property

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	More than 50%

Is Financing Available For Qualified Buyers?	Yes

Comments on Financing For Qualified Buyers	Down payment assistance monies are available and Fannie Mae special financing are available.

Housing Inventory	Good supply - Some Prices

Inventory Comments	Palm Bay is a very large area and that accounts for the large inventory of homes.

Greatest Activity	First Time Buyers

Reason to Buy/Sell	Lower prices with good selection and competitive interest rates creates a perfect time to buy in Palm Bay! Where else can you buy a fairly recently built 2000 square foot home for under $100,000

Nearest Metro Area	Melbourne

Housing Hot Spots	Most cities within the Brevard County area are considered ’Housing Hotspots’ Palm Bay is particularly hot due to the low low pricing.

Average Sold Price	$100,000 - View Graph Trend

Palm Bay Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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Judy Dassinger

321-693-3412

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Mortgage Rates

– Feb 13th, 2012 –
---------------------------------

30 yr. fixed rate: 3.89%
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.60%
15 yr. jumbo rate: 3.96%

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Judy Dassinger

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321-693-3412

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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)

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