Navigating Florida's Real Estate Market: Insights from Brevard County

Written by:

Steve Marcinuk

Date:

10 Jun 2025

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Florida’s real estate market may no longer be moving at breakneck speed, but that does not mean it is in decline. Shelly Trout, a Realtor with Dalton Wade who serves Brevard County and occasionally the Orlando area, sees a more balanced reality.

“Houses are staying on the market longer than we’ve seen recently,” she explains. “Last year at this time, houses were selling in two to three weeks. Now the average is closer to 90 to 120 days, unless it’s priced competitively, in which case it sells more quickly.”

Trout’s perspective challenges the pessimistic headlines dominating national coverage of Florida real estate. While conditions have shifted from the frenzy of recent years, her on-the-ground experience suggests the market remains fundamentally healthy.

First-Time Buyers Leading the Charge

When asked about the strongest segment of buyer demand in her market, Trout doesn’t hesitate: “I think the biggest demand is first-time home buyers. I would say approximately 75% of my business is first-time home buyers.”

This runs counter to the prevailing narrative that younger buyers are being priced out of homeownership, particularly in Florida’s competitive markets. Trout shared the story of one family she’s currently helping: “I’ve got a really interesting family that I’m working on getting under contract right now. They were referred to me from a previous customer. They have three kids, they’ve been married for 20-something years, and have been renting for 14 years. They simply got tired of paying somebody else’s mortgage.”

Referrals form the backbone of Trout’s business, with approximately 70% of her clients coming from past clients or friends of past clients. This word-of-mouth success speaks to the quality of service she provides in a market where buyers need guidance more than ever.

Geographic Hotspots: Palm Bay and Melbourne

For those first-time buyers, certain areas within Brevard County are proving particularly attractive. “Palm Bay and the Melbourne area” are the hottest markets, according to Trout. The appeal lies in affordability and value: “That price point is less than where they’re coming from. They can get more for their money in Palm Bay.”

By contrast, more established areas like Merritt Island command higher prices despite offering smaller homes. “Merritt Island is more expensive because they’re more established. The homes are pretty much smaller, older homes under 1,500 square feet because they built small when people only had smaller families,” Trout notes. This contrasts with newer construction, which typically features “four bedrooms, 1,920-2,100 square feet.”

Who’s Selling and Why

Despite the much-discussed “lock-in effect” keeping many homeowners with low mortgage rates from selling, Trout is still seeing consistent listing activity driven by specific life circumstances.

“Most of what I’ve sold, a couple have moved out of state. They couldn’t take the heat, and they’ve moved outside of Florida, or they couldn’t afford the taxes or insurance, because they’ve both increased significantly in the last few years,” she explains.

Family growth represents another major driver: “My other group of buyers is having more kids and needing more space. I’ve got a house that I’m listing right now that’s a three-bedroom, and they’re moving to a five-bedroom because they’ve got two more kids on the way, so they’re just planning for the future.”

From Transaction Coordinator to Successful Agent

Trout’s path to becoming a real estate agent is somewhat unconventional. Despite 17 years of experience in the real estate industry as a trainer and administrator, she only obtained her license three and a half years ago.

“The only reason I got my license was because the partner I had been working with as his transaction coordinator was traveling with his family,” Trout explains. “He was referring out business when people came into town looking for vacation homes, second homes, and rentals. I thought, if I get my license when you’re gone, I could show properties, and we could split the commission and keep the business within ourselves.”

What began as a practical solution has blossomed into a thriving career. Trout completed one transaction per month during her first year, increased to 18 transactions last year, and is on track to surpass that number significantly in 2025, with nine pending deals and 19 active buyers currently in her pipeline.

Challenges in the Condo Market

While single-family homes remain the focus of most buyer activity, the condo market faces significant headwinds in Brevard County. When asked about condos, Trout is direct: “Condos are very hard to get into because the homeowners association condo fees are essentially a mortgage payment.”

Despite the inclusion of amenities like cable, internet, and exterior maintenance, these high monthly fees create an additional financial burden that many buyers are unwilling to take on in addition to their mortgage payments.

Seller Expectations vs. Market Reality

One of the most significant challenges in today’s market is managing seller expectations. “Sellers think their house is worth way more,” Trout observes. “And they learn very quickly when they don’t get showings and it sits on the market.”

This reality check often comes in the form of extended days on market. However, Trout emphasizes that properly priced homes still move quickly: “If they price it right, then it gets purchased right off the market. Price definitely dictates how quickly the house will sell.”

The days of multiple offers and bidding wars have largely subsided, with Trout noting, “The only time I’ve encountered multiple offers recently is when the price is less than what it should be, they’ve listed low to generate multiple offers.”

Beyond the Headlines

Perhaps most importantly, Trout cautions against putting too much stock in negative media coverage of Florida’s real estate market. “If you listen to the news, you can actually get pretty brainwashed, because the situation isn’t as dire as it’s portrayed,” she states.

While acknowledging challenges like rising taxes and insurance costs, she points to positive developments as well: “Insurance is definitely an issue here in Florida, but it is improving. We’re getting more insurance carriers entering the market, so insurance costs are beginning to decrease. That’s helping people get into homes.”

Her final assessment offers a balanced perspective that cuts through the noise: “Business is normal. Nothing really has changed, because the weather’s always beautiful, and that’s why people move to Florida.”

For real estate investors considering Brevard County, Trout’s insights suggest focusing on single-family homes in the Palm Bay and Melbourne areas, where first-time buyers remain active. Properties priced correctly still move relatively quickly, though patience may be required as the market continues to normalize from the exceptional conditions of recent years.