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 isIncreasing
Seller Activity for the past 90 days in Palm Bay is?No Change
Multiple Offers?Yes
Multiple Offers CommentaryBank 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 BuyersDown payment assistance monies are available and Fannie Mae special financing are available.
Housing Inventory Good supply - Some Prices
Inventory CommentsPalm 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 AreaMelbourne
Housing Hot SpotsMost 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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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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(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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