I am pleased to provide you with our updated Brevard County Market Trends through November 2009.
• Our most recent market statistics are showing a seasonal softening of the market, which we anticipate will begin firming up in the first quarter of 2010.
• Single family home sales have remained fairly consistent for the past four months.
• Condominium sales are down for the first time since February 2009, which may be a result of the increased number of distressed condominiums that have been sold in recent months.
• New single family listings entering the market are at their lowest number (921) of the year.
• Distressed sales increased 7% over October with a dramatic increase in bank-owned properties from 14% to 20%.
• One of the most positive trends that has been consistent through the year is the number of $1 million plus sales.
• Overall, Brevard County is remaining consistent with Orange and Seminole Counties with a 60 month inventory supply.