With 9.4 months of inventory, Cocoa Beach is currently in a buyer's market. Home prices have increased 34.6% in the past month alone. At the current sales pace, it would take over 9.4 months to sell all available homes in Cocoa Beach, indicating an oversupplied market. Homes are now taking an average of 197 days to sell, significantly longer than the 56 days typical for this market. A significant 23.9% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 4.8% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Cocoa Beach market with the affordability index at 181.4. Based on current market indicators, home prices in Cocoa Beach are projected to decrease by approximately 14.4% over the next month.