Is Melbourne Shores-Floridana Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Melbourne Shores-Floridana Beach was a Seller's Market.
Key Takeaway
Melbourne Shores-Floridana Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Melbourne Shores-Floridana Beach, FL
How much do homes in Melbourne Shores-Floridana Beach, FL cost?
Median Sold Price
$640,000
$362/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Melbourne Shores-Floridana Beach have sold for 5.5% less than they did a year ago.
Summary: The median home sold price in Melbourne Shores-Floridana Beach was $640,000 in May 2024, down 5.5% from last year, and the median price per square foot was $362.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $252.5K | $259.5K | +2.8% |
| 2 Bedrooms | $382.5K | $417K | +9.0% |
| 3 Bedrooms | $685K | $652K | -4.8% |
| 4 Bedrooms | $912.5K | $825K | -9.6% |
| 5+ Bedrooms | $1.2M | $1.1M | -9.2% |
Summary: Melbourne Shores-Floridana Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes decreased by 9.2%.
Median Sold Price Compared To Nearby Cities
| Grant-Valkaria | $364.3K | $590K | +61.9% |
| Indialantic-Melbourne Beach | $530.8K | $549.9K | +3.6% |
| Melbourne Shores-Floridana Beach | $677.5K | $640K | -5.5% |
Housing Supply in Melbourne Shores-Floridana Beach, FL
How many homes are available in Melbourne Shores-Floridana Beach, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 118 | 133 | +12.7% |
Summary: The Melbourne Shores-Floridana Beach real estate market had 133 homes for sale in May 2024, a 12.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 17 | 20 | +17.6% |
| 3 Bedrooms | 63 | 74 | +17.5% |
| 4 Bedrooms | 25 | 25 | 0.0% |
| 5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Melbourne Shores-Floridana Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 17.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 17 | +13.3% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Melbourne Shores-Floridana Beach, you may be able to get a good deal. 88.2% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Melbourne Shores-Floridana Beach in May 2024, up by 13.3% month-over-month. Of the 17 sold homes, 88% were sold under asking, 0% were sold at asking, and 12% were sold over asking.
Days on Market for Melbourne Shores-Floridana Beach, FL
How long does it take to sell a home in Melbourne Shores-Floridana Beach, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 45 Days | 76 Days | +67.5% |
Summary: Homes in Melbourne Shores-Floridana Beach had an average of 76 days on market in May 2024, up by 67.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Melbourne Shores-Floridana Beach has remained consistent over time.
Summary: During May 2024, 17 homes were sold in Melbourne Shores-Floridana Beach; 24% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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