Unemployment Rates
The unemployment rate is a great market indicator for the future market. As long as employment numbers are strong, mortgages will be paid and manufactured items will be purchased.
National Unemployment Rate
2023 2024
Adam's Insight: The unemployment rate is hovering around 4.1%. Annually we see a small peak every October and as temporary staffing increases for the holidays the unemployment rate decreases. If unemployment increases in November or December it could be a red flag.
Florida Unemployment Rate
2023 2024
November 2.9%
December 3.0%
Adam's Insight: Florida had a small increase in September but now in October our unemployment is still holding strong at 3.3%. As the National unemployment rate increases, our diverse economy is staying resilient. Here in Brevard County the numbers match the local market feeling. We are seeing home sales increase and prices are going up on beautiful homes, however properties needing some updating are sitting on the market.
30 Year Mortgage Rate Average in United States
*This information is pulled from the Federal Reserve and Freddie Mac. These are averages for information purposes only. This information is for the first day of the month; remember that a lot can change in 30 days.
2023 2024
November 7.76%
December 7.03%
Adam's Insight: Somehow there is miscommunication between the media and the financial institutions. The news and social media are telling the world to buy properties because the interest rates are dropping. However, we are not seeing falling rates, we are seeing rates in the same range as the last 2 years. 6.12% is better than 7.76% but nothing to brag about. The number of cash buyers has greatly increased and investors are looking for deals.
Spot Gold Price (Price per Ounce)
2023 2024
Spot Silver Price
2023 2024
Brevard County Property Sales Statistics
Brevard County Properties Sold
2023 2024
January 738 686
February 967 893
March 1,262 1,109
April 1,167 1,147
May 1,230 1,246
June 1,188 1,049
July 986 1,158
August 1,108 1,058
September 1,007 853
October 914 841
November 908
December 814
Adam's Insight: The number of homes sold has hit a low since last December. Homes are still selling but if you want top dollar you need to hire a professional team that markets. Every month quite a few homes are expiring, which means that broker was not able to find a buyer.
Brevard County New Listings
2023 2024
January 1,362 1,578
February 1,210 1,559
March 1,535 1,804
April 1,355 1,781
May 1,489 1,734
June 1,309 1,565
July 1,353 1,424
August 1,476 1,478
September 1,397 1,318
October 1,389 1,238
November 1,226
December 1,026
Brevard County Active Listings
2023 2024
January 2,672 3,553
February 2,538 3,862
March 2,354 4,037
April 2,332 4,295
May 2,317 4,417
June 2,367 4,496
July 2,469 4,481
August 2,537 4,454
September 2,826 4,554
October 3,055 4,431
November 3,285
December 3,248
Brevard County Absorption Rate
2023 2024
January 2.35 3.42
February 2.27 3.73
March 2.13 3.92
April 2.13 4.22
May 2.14 4.34
June 2.19 4.40
July 2.31 4.44
August 2.39 4.36
September 2.67 4.49
October 2.9 4.42
November 3.15
December 3.09
Brevard County Average Sales Price
2023 2024
January $394,815 $414,497
February $394,504 $413,611
March $394,311 $391,721
April $425,760 $457,901
May $420,068 $437,357
June $416,083 $424,678
July $418,235 $426,377
August $435,410 $425,816
September $408,702 $419,995
October $409,171 $431,981
November $426,062
December $400,425
Brevard County Average Days on Market
2023 2024
January 58 58
February 62 59
March 65 82
April 68 76
May 67 84
June 62 71
July 63 64
August 65 69
September 65 74
October 70 76
November 23
December 29
Written by Broker Adam Maxfield
Real Estate Sales and Investing
Maxfield Home Solutions
(321) 635-0060
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