“Brevard County home sales have been hot, with rising prices and sales”

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Brevard County home sales have been hot, with rising prices and sales.

Sales of homes in Brevard increased 37 percent in July over the same time last year, according to data from Brevard’s Multiple Listing Service, which records information from the majority of real estate agents on the Space Coast. That outpaces sales year over year nationally — showing an increase of about 17 percent.

“All the pricing is indicative of a healthy market,” said Jay Parrish, president of Space Coast Association of Realtors

The number of days a home sits on the market has decreased from 51 days to 42.

The median sale price of homes in Brevard rose about 3.5 percent to $121,000 over the year. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors, the national median price for existing single-family homes in June 2013 was $214,700, up 13.2 percent from 2012.

Housing industry analysts note that sales of foreclosures and similar properties downwardly distort the median price because they sell at a discount relative to traditional sales.

Why the boost in sales lately?

“I’d say it’s more the same, Florida is a great place to live, people need to buy homes, the market has stabilized, appraisals are becoming representative of current values,” Parrish said.