Is Melbourne, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Melbourne is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Melbourne has remained a Seller's Market.

Key Takeaway

Melbourne is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Melbourne, FL cost?

Median Sold Price

$304,994

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$57,133(+23.1%)

Key Takeaway

Homes in Melbourne have sold for 23.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $101K$122.5K
+21.3%
2 $179K$209.9K
+17.3%
3 $249.9K$310K
+24.1%
4 $320.5K$365K
+13.9%
5+ $620K$517.5K
-16.5%

Median Sold Price Compared To Nearby Cities

Indialantic-Melbourne Beach
+24.9%
Melbourne
+23.1%
West Melbourne
+17.9%
Indian Harbour Beach
+9.6%

How many homes are available in Melbourne, FL?

Number of Homes For Sale

Sep 2022Oct 2022%
475463-2.5%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 69
+50.0%
2 7073
+4.3%
3 293285
-2.7%
4 9083
-7.8%
5+ 1613
-18.8%

Number of Homes Sold

Sep 2022Oct 2022%
10789-16.8%

Asking Price vs. Sold Price

61 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Melbourne, you may be able to get a good deal. 68.5% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
22 Days29 Days+31.6%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Melbourne are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Melbourne, FL

Melbourne, FL has 463 homes for sale to choose from. The number of listings in Melbourne, FL decreased by 2.5% between September 2022 and October 2022. In October 2022, listings were on the market for 29 days. During the same period, the median list price in this real estate market was $304,994. This housing market listing prices have changed between September 2022 and October 2022: the cost of 1 bedroom properties went up by 21.3%, 2 bedrooms properties became 17.3% more expensive, the cost of 3 bedrooms properties went up by 24.1%, prices of 4 bedrooms properties increased by 13.9%, prices of 5 bedrooms properties went down by 16.5%. This housing market inventory have changed: number of 1 bedroom homes increased by 50%, 2 bedrooms homes inventory increased by 4.3%, 3 bedrooms homes inventory decreased by 2.7%, volume of 4 bedrooms homes went down by 7.8%, 5 bedrooms homes became 18.8% less available. Over 11 listings were sold over their listed price in October 2022 in Melbourne, FL. In the same period over 61 listings were sold below the listed price and 17 listings were sold for the listed price.

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