Space Coast Real Estate & Economy

Space Coast Real Estate & Economy – Brevard County’s real estate market and economic development is booming thanks to growth in the aerospace industry and space program, Space Coast Office of Tourism initiatives, and our beautiful beaches.

Florida’s Space Coast Economy is Booming

January 10, 2019 in Space Coast Real Estate & Economy

Image from Viera.com

Florida’s Space Coast was hit hard during the 2008 economic recession; many of the area’s aerospace and defense companies laid off hundreds of skilled workers. Ten years later, the local economy is once again booming. With the return of aerospace jobs, and an influx of new tech and tourism companies entering the area, and an affordable housing market, some are even calling the Space Coast “The next Silicon Valley.”

High profile companies like Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin, among others, have put space exploration back in the national spotlight. As NASA announces new missions to the moon and begins to look to the future on Mars, new start-ups and old names alike are bringing high-paying aerospace jobs to Central Florida by the thousands in what’s been dubbed the new space race.

But aerospace isn’t the only sector that’s growing: the housing market is growing by leaps and bounds, and new construction in the area has more than double over the last 5 years. Port Canaveral, Cocoa Beach, and Melbourne are growing attractions for tourists with a wide variety of cruises, local shopping, art, and more, breaking records for visitors at any given time in Florida’s history.

Read more about the Space Coast’s economic boom in UPI’s article. If you are planning to visit the Space Coast and are in need of accommodations, give us a call at (321)-784-5046 or e-mail us at [email protected]! Relocating to area? We also do real estate!

Positive Outlook for Space Coast’s Growing Economy

March 16, 2016 in Space Coast Real Estate & Economy

Image from FlyJets on Youtube

Jerry Allender, the Canaveral Port Authority Chairman, recently spoke about the Port’s economic outlook. According to Allender, the Port can expect to see double the annual volume of cruise passengers over the next five years, continuing cargo growth, and the development of The Cove as a part of the plan for a major shopping, dining, and entertainment center. Outside of the Port, Brevard County is seeing a resurgence of high demand for skilled engineers and tech professionals as companies like Harris and Northrop Grumman open hundreds of positions at their Space Coast locations. Smaller high-tech companies are also growing as local groups like Liberty IT Solutions gain national renown. Northrop Grumman recently won the Air Force’s coveted contract to develop a new stealth bomber, while Liberty IT Solutions signed a contract with the Dept. of Veterans Affairs to build software and network infrastructure.

To read more about Allender’s report, take a look at Florida Today’s story, or read about the growing number of tech jobs in this article. If you are planning to visit the Space Coast and are in need of accommodations, give us a call at (321)-784-5046 or e-mail us at [email protected]! If you are thinking about relocating to the Space Coast, give our real estate company, Vincent Keenan Realtors, a call today at (321) 784-6286!

Port Canaveral’s Joins “Green Marine” Initiative

March 4, 2016 in Space Coast Real Estate & Economy

Image from the Orlando Sentinel

After the environmental controversy involving a planned rail line to Port Canaveral that led to the resignation of former Port CEO, John Walsh, Port Canaveral recently joined a growing list of industry leaders as a part of the Green Marine program. The not-for-profit is devoted to assessing and improving environmental protection in the maritime transportation industry. As the Port continues to expand and grow, Green Marine and the Port Commission have both stated their commitment to sustainable growth and improving the existing efforts to minimize ecological impact.

For more information about the Port, visit the official Port Canaveral website; to continue reading about the Green Marine program, check out this article by Space Coast Daily, or this story in the Orlando Sentinel. If you are planning to visit the Space Coast and are in need of accommodations, give us a call at (321)-784-5046 or e-mail us at [email protected]!

Port Plan for Aquarium

February 10, 2016 in Space Coast Real Estate & Economy

Image from VisitPortCanaveral.com

As Port Canaveral welcomes a new CEO next Monday, February 15, locals will be watching to see what direction he intends to take and how he will handle the issues left in the wake of John Walsh’s departure. Under Walsh’s direction, the Port has grown into a major focal point for the local tourism economy, as well as building up the Port’s cargo industry. The main concerns facing the new CEO, John Murray, include continuing the Port’s economic growth with the hope of someday overtaking the Port of Miami, increasing the cargo action including the controversial plans for a new rail service, traffic congestion issues, and the continuing development of The Cove district and attractions.

One the most exciting developments in the works is the Brevard Zoo’s plans for an aquarium, proposed last August. The Zoo’s director presents a vision for the aquarium “as having both indoor and outdoor exhibits, with a focus on the Space Coast, the Indian River Lagoon, the St. Johns River, Port Canaveral and local marine life.” The plans intend to focus on Central Florida’s ecosystems, especially on the wildlife of the St. Johns River. The Zoo is currently working closely with Port officials to continue developing the plan.

For more information, read more in Florida Today’s articles about the proposal and continuing efforts. If you are planning to visit the Space Coast and are in need of accommodations, give us a call at (321)-784-5046 or e-mail us at [email protected]!

Brevard County’s 2015 Home Sales: Growing Local Market

January 7, 2016 in Space Coast Real Estate & Economy

Image by Astro Aerial Photography

At the end of 2015, the Space Coast Association of Realtors reported the year’s trend in home prices and sales. Overall, the county saw more than a 25 percent increase in the area’s median home price from 2014. In comparison, the nationwide real estate market didn’t do so well, with sales falling 10.5 percent, and the rate of sales falling to the slowest point in over two years. For Brevard County, one of the biggest factors driving the local market has been the high demand for real estate and the simultaneously low inventory. In addition to the overall trends, the Space Coast has also seen notable turnover in high-end property sales, especially among Brevard’s beach side.

For more information about the 2015 report, read Florida Today’s article. To continue reading about the top local sales, click here. If you are planning to visit the Space Coast and are in need of accommodations, give us a call at (321)-784-5046 or e-mail us at [email protected]!