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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Melbourne is a seller's market

Buyer's
Market

Difference Since October 2021

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

Key Takeaway

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

How much do homes in West Melbourne, FL cost?

Median Sold Price

$394,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$59,875(+17.9%)

Key Takeaway

Homes in West Melbourne have sold for 17.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $175K$130K
-25.7%
2 $168.4K$215K
+27.6%
3 $302.3K$370K
+22.4%
4 $368.5K$435K
+18.0%
5+ $421.4K$570K
+35.2%

Median Sold Price Compared To Nearby Cities

Palm Bay
+27.1%
West Brevard
+26.1%
Melbourne
+23.1%
West Melbourne
+17.9%

How many homes are available in West Melbourne, FL?

Number of Homes For Sale

Sep 2022Oct 2022%
124121-2.4%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 10
-100.0%
2 1915
-21.1%
3 4548
+6.7%
4 4646
0.0%
5+ 1312
-7.7%

Number of Homes Sold

Sep 2022Oct 2022%
3228-12.5%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Melbourne, you may be able to get a good deal. 78.6% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
5 Days66 Days+1157.1%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in West Melbourne has remained consistent over time.

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

About West Melbourne, FL

Homes for sale in West Melbourne, FL have reached 121. The number of listings in West Melbourne, FL decreased by 2.4% between September 2022 and October 2022. In October 2022, listings were on the market for 66 days. During the same period, the median list price in this real estate market was $394,000. This housing market listing prices have changed between September 2022 and October 2022: prices of 1 bedroom properties decreased by 25.7%, prices of 2 bedrooms properties went up by 27.6%, the cost of 3 bedrooms properties went up by 22.4%, 4 bedrooms properties became 18% more expensive, prices of 5 bedrooms properties increased by 35.2%. This housing market inventory have changed: 1 bedroom homes inventory decreased by 100%, volume of 2 bedrooms homes went down by 21.1%, number of 3 bedrooms homes increased by 6.7%, volume of 4 bedrooms homes stayed the same, volume of 5 bedrooms homes went down by 7.7%. In October 2022 more than 3 listings in West Melbourne, FL were sold above the asking price. During the same period more than 3 listings were sold at asking price, while more than 22 were sold below.

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