Is Melbourne Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Melbourne Beach was a Seller's Market.
Key Takeaway
Melbourne Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Melbourne Beach, FL
How much do homes in Melbourne Beach, FL cost?
Median Sold Price
$660,000
$356/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Melbourne Beach have sold for 3.6% less than they did a year ago.
Summary: The median home sold price in Melbourne Beach was $660,000 in April 2024, down 3.6% from last year, and the median price per square foot was $356.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212K | $210K | -0.9% |
| 2 Bedrooms | $390K | $410K | +5.1% |
| 3 Bedrooms | $680K | $672.5K | -1.1% |
| 4 Bedrooms | $900K | $932.5K | +3.6% |
| 5+ Bedrooms | $1.4M | $919K | -36.6% |
Summary: Melbourne Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.9%, 2 bedroom homes increased by 5.1%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 36.6%.
Median Sold Price Compared To Nearby Cities
| Indialantic-Melbourne Beach | $529.4K | $551.5K | +4.2% |
| Indialantic | $635K | $630K | -0.8% |
| Melbourne Beach | $685K | $660K | -3.6% |
Housing Supply in Melbourne Beach, FL
How many homes are available in Melbourne Beach, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 161 | 182 | +13.0% |
Summary: The Melbourne Beach real estate market had 182 homes for sale in April 2024, a 13.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 32 | 30 | -6.3% |
| 3 Bedrooms | 76 | 90 | +18.4% |
| 4 Bedrooms | 35 | 40 | +14.3% |
| 5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The Melbourne Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 23 | +43.8% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Melbourne Beach, you may be able to get a good deal. 78.3% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Melbourne Beach in April 2024, up by 43.8% month-over-month. Of the 23 sold homes, 78% were sold under asking, 17% were sold at asking, and 4% were sold over asking.
Days on Market for Melbourne Beach, FL
How long does it take to sell a home in Melbourne Beach, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 62 Days | +60.0% |
Summary: Homes in Melbourne Beach had an average of 62 days on market in Apr 2024, up by 60% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Melbourne Beach has remained consistent over time.
Summary: During April 2024, 23 homes were sold in Melbourne Beach; 35% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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