Is Melrose, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Melrose was a Seller's Market.
Key Takeaway
Melrose is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Melrose, FL
How much do homes in Melrose, FL cost?
Median Sold Price
$270,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Melrose has remained the same since last year.
Summary: The median home sold price in Melrose was $270,000 in March 2024, up 0.4% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $152.5K | $235K | +54.1% |
| 2 Bedrooms | $223.9K | $237.4K | +6.0% |
| 3 Bedrooms | $297.7K | $312K | +4.8% |
| 4 Bedrooms | $528.5K | $350K | -33.8% |
| 5+ Bedrooms | - | $840K | N/A |
Summary: Melrose housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.1%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 33.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Melrose | $269K | $270K | 0.4% |
| Keystone Heights | $289K | $268.8K | -7.0% |
| Interlachen-Florahome | $260K | $220K | -15.4% |
Housing Supply in Melrose, FL
How many homes are available in Melrose, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 52 | 53 | +1.9% |
Summary: The Melrose real estate market had 53 homes for sale in March 2024, a 1.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 15 | 9 | -40.0% |
| 3 Bedrooms | 27 | 30 | +11.1% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Melrose housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Melrose, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Melrose in March 2024, down by 11.1% month-over-month. Of the 8 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 171 Days | +354.7% |
Summary: Homes in Melrose had an average of 171 days on market in Mar 2024, up by 354.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Melrose are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 8 homes were sold in Melrose; 13% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
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