Is Cocoa Beach-Cape Canaveral, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cocoa Beach-Cape Canaveral is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Cocoa Beach-Cape Canaveral was a Seller's Market.

Key Takeaway

Cocoa Beach-Cape Canaveral is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Cocoa Beach-Cape Canaveral, FL

How much do homes in Cocoa Beach-Cape Canaveral, FL cost?

Median Sold Price

$415,625

$323/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$20,710(+5.2%)

Key Takeaway

Homes in Cocoa Beach-Cape Canaveral have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in Cocoa Beach-Cape Canaveral was $415,625 in May 2024, up 5.2% from last year, and the median price per square foot was $323.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $217.4K$222.5K
+2.3%
2 $350K$360K
+2.9%
3 $565.5K$560K
-1.0%
4 $799.9K$1.0M
+25.0%
5+ $1.0M$1.7M
+66.3%

Summary: Cocoa Beach-Cape Canaveral housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.3%, 2 bedroom homes increased by 2.9%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 66.3%.

Median Sold Price Compared To Nearby Cities

Cocoa Beach
+11.2%
Cocoa Beach-Cape Canaveral
+5.2%
Cape Canaveral
-2.5%

Housing Supply in Cocoa Beach-Cape Canaveral, FL

How many homes are available in Cocoa Beach-Cape Canaveral, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
482514+6.6%

Summary: The Cocoa Beach-Cape Canaveral real estate market had 514 homes for sale in May 2024, a 6.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 4656
+21.7%
2 232231
-0.4%
3 145167
+15.2%
4 3736
-2.7%
5+ 2224
+9.1%

Summary: The Cocoa Beach-Cape Canaveral housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.7%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 15.2%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
7663-17.1%

Asking Price vs. Sold Price

53 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cocoa Beach-Cape Canaveral, you may be able to get a good deal. 84.1% of homes here sold below asking price last month.

Summary: A total of 63 homes were sold or pending in Cocoa Beach-Cape Canaveral in May 2024, down by 17.1% month-over-month. Of the 63 sold homes, 84% were sold under asking, 14% were sold at asking, and 2% were sold over asking.

Days on Market for Cocoa Beach-Cape Canaveral, FL

How long does it take to sell a home in Cocoa Beach-Cape Canaveral, FL?

Average Sale Time

May 2023May 2024CHANGE
42 Days80 Days+90.4%

Summary: Homes in Cocoa Beach-Cape Canaveral had an average of 80 days on market in May 2024, up by 90.4% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

22 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cocoa Beach-Cape Canaveral are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 63 homes were sold in Cocoa Beach-Cape Canaveral; 38% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

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