Is Melrose, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Melrose has remained a Seller's Market.
Key Takeaway
Melrose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Melrose, FL
How much do homes in Melrose, FL cost?
Median Sold Price
$290,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Melrose have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Melrose was $290,000 in May 2024, up 8.6% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $235K | +46.9% |
| 2 Bedrooms | $209.9K | $240K | +14.3% |
| 3 Bedrooms | $297.5K | $322.5K | +8.4% |
| 4 Bedrooms | $471.7K | $442K | -6.3% |
| 5+ Bedrooms | $800K | $880K | +10.0% |
Summary: Melrose housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.9%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 8.4%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
| Melrose | $267K | $290K | +8.6% |
| Keystone Heights | $281.5K | $270K | -4.1% |
| Interlachen-Florahome | $248K | $230K | -7.3% |
| Florahome | $267.5K | $232.5K | -13.1% |
Housing Supply in Melrose, FL
How many homes are available in Melrose, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 54 | 0.0% |
Summary: The Melrose real estate market had 54 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 12 | 12 | 0.0% |
| 3 Bedrooms | 29 | 29 | 0.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Melrose housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 16 | +433.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Melrose, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Melrose in May 2024, up by 433.3% month-over-month. Of the 16 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for Melrose, FL
How long does it take to sell a home in Melrose, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 78 Days | 51 Days | -34.4% |
Summary: Homes in Melrose had an average of 51 days on market in May 2024, down by 34.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Melrose are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Melrose; 56% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
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