Melbourne Area Blog

Sales of single-family homes in Brevard County increased 4 percent last month from July 2007, the Florida Association of Realtors reported.

Sales went to 478 in July from 458 one year ago. There were 473 homes sold in June.

Statewide, single-family existing home sales inched up in Florida for the first time in more than two years, possibly indicating some stabilizing to the state's battered housing market. The Orlando-based Realtors organization said 11,498 existing homes sold statewide last month, up six homes from 11,492 homes sold in July 2007, a statistical dead heat but an increase nonetheless.

The last time statewide sales of existing homes outpaced the previous year's sales figure was in the year-end 2005 report, according to FAR records, when sales were up 2 percent over 2004.

Median prices — the point at which half the homes sell for less, half for more — continued to decline in Brevard and statewide. The median price in Brevard fell 22 percent to $152,600 from $195,800 year-over-year, and during that same period, and Florida's median sales price for existing homes last month was$193,600, down 19 percent from a year ago.

July sales of condominiums in Brevard fell 14 percent year over year to 98 from 114 while the median price dropped to $162,900 from $187,500.