Every buyer asks the same question and most agents answer it with a feeling. I would rather answer it with the ratio of closed price to original list price, neighborhood by neighborhood, across every Cocoa Beach and Cape Canaveral neighborhood that had at least five closings in the last year. The spread is enormous. One neighborhood averaged 82.4 percent. Another averaged 100.
Where Sellers Gave The Most Ground
| Neighborhood | City | Closed vs original list | Median close |
|---|---|---|---|
| Beach Winds | Cocoa Beach | 82.4% | $575,000 |
| Cleggmoor | Cocoa Beach | 83.7% | $552,500 |
| Yacht Haven | Cocoa Beach | 87.4% | $1,045,000 |
| Cocoa Isles | Cocoa Beach | 88.2% | $825,000 |
| Puerto Del Rio | Cape Canaveral | 90.2% | $450,000 |
| Cocoa Ocean Beach | Cocoa Beach | 90.5% | $550,000 |
| Windward East | Cocoa Beach | 90.6% | $505,000 |
| Bayport | Cape Canaveral | 90.7% | $458,000 |
| Xanadu | Cocoa Beach | 90.8% | $659,000 |
| Majestic Seas | Cocoa Beach | 91.2% | $700,000 |
Where Sellers Gave Almost Nothing
| Neighborhood | City | Closed vs original list | Median close |
|---|---|---|---|
| The Surf at Cocoa Beach | Cocoa Beach | 100.0% | $1,650,000 |
| Solana on the River | Cape Canaveral | 96.8% | $462,500 |
| Solana Shores | Cape Canaveral | 96.8% | $850,000 |
| Spanish Main | Cocoa Beach | 96.5% | $560,000 |
| The Villages of Seaport | Cape Canaveral | 96.2% | $505,000 |
| Avon by the Sea | Cocoa Beach | 95.8% | $675,000 |
| The Constellation | Cocoa Beach | 95.7% | $855,000 |
| Windrush | Cocoa Beach | 95.4% | $620,000 |
| Emerald Seas | Cocoa Beach | 95.4% | $650,000 |
| Waters Edge | Cocoa Beach | 95.2% | $540,000 |
What The 100 Percent At The Surf Actually Means
The Surf at Cocoa Beach is new construction and it closed at exactly original list across fifteen sales. That is not a hot market. That is a builder with a price sheet. You do not negotiate a new building the way you negotiate a resale, and anyone telling you there is 5 percent hiding in there has not looked at what closed.
Why Beach Winds And Cleggmoor Are Soft
Beach Winds at 82.4 percent and Cleggmoor at 83.7 percent are the two softest in either city, and they are soft for different reasons. Beach Winds is an older oceanfront building where the association paperwork carries real weight in what a buyer will pay. Cleggmoor is a small single-family plat where five sales is a thin sample and one unusual house moves the number. I would not walk into either one assuming 17 percent is waiting for me. I would walk in knowing that sellers there have accepted less than list more often than sellers elsewhere.
The Ratio Is Not A Strategy By Itself
A neighborhood averaging 90 percent of original list usually got there because listings started high and cut twice, not because buyers wrote lowball offers that got accepted. The useful move is to look at where the current asking price sits relative to what actually closed on that street in the last year, then price the offer off the closings. That is the number I bring to the table, and it is why I pull the specific comparable sales for a property before we write rather than working off the neighborhood average.
Cape Canaveral Runs Tighter Than Cocoa Beach
Six of the ten tightest neighborhoods with real volume are in Cape Canaveral, and the Solana communities in particular closed at 94.8 to 96.8 percent. That is a market where inventory moves and sellers hold. Cocoa Beach has more of both extremes because it has more neighborhoods and a much wider range of housing stock.
If you are wondering whether you need to pay cash to compete, see do cash offers actually win on the Space Coast. If the property has an existing tenant, review buying a tenant-occupied home in Brevard County.
Read next: Can the Seller Stay After Closing? Post-Closing Occupancy in Brevard County, FL
Related on the Space Coast: where homes sell fastest in Titusville.
Thinking About The Beach?
Cocoa Beach is mine and Cape Canaveral is my partner Nichole Barna’s, and between us we cover the whole stretch. Reach out at (321) 212-7676 or www.livingspacecoast.com and we will get you to the right one of us.
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