How Is The Housing Market In Melbourne Florida?

Boardwalk to/from the beach at Cape Canaveral National Seashore, Florida

The state of Florida has long been a popular choice for real estate, from retirees seeking a warmer place to live out their Golden Years to people desiring a second home, or even investment properties. But Florida real estate is still about location, location, location, and many potential buyers may be wondering if Melbourne, Florida, is a good market.

More About Melbourne, FL

Melbourne is a city in Brevard County, Florida, about 70 miles southeast of Orlando and located along the balmy Atlantic coast. It has a population of about 76,000 and a mean household income of $34,500, with people of all ages living here, from young families working in some of the nearby tech or hospitality sectors to retirees seeking the Florida sun. It’s been ranked by Forbes magazine as 18th out of 100 and first out of 8 metros in Florida for affordable housing, and short commute times. Both of these factors contribute to the popularity of Melbourne for buyers on a budget.

Melbourne Real Estate, By the Numbers

Melbourne’s housing market is currently warm, a situation that can benefit both buyers and sellers. For buyers, a warm market means that while inventory might be limited, it’s not so limited that some buyers are unable to find the right fit for housing or end up in a bidding war, buying homes well over the market value. For sellers, a warm market means that there’s plenty of potential buyers, and they can still turn a profit on their home.

From 2015 to 2020, the median house prices in Melbourne increased 45%, from $162,000 to $235,759. Over the next 12 months, housing prices in the city are estimated to grow by 3.7%, which means that for buyers, the sooner they buy a home, the better, as their investment will only increase. For sellers, however, setting the right price can be a little tricky, as many homeowners want to achieve the highest profit from the sale. Homes in Melbourne sell, on average, about 68 days after listing, which is a great turnaround for both buyers and sellers.

Finding the Right Melbourne, FL Home

The right Melbourne home depends on your needs as a buyer. Since Melbourne is a minimally walkable city, finding a home that works with your commute is essential. Othe factors that many buyers look for are proximity to schools and the beach, one of the major reasons that people select coastal locations.

To find the right home, you need a real estate team that understands your needs, your budget, and your dreams. Local realtors, ones who live in the community and understand the dynamics of each neighborhood, are the best choice for buyers. For sellers, having a real estate agent who understands the ebbs and flows of the market can ensure that you’re setting the right price for your house to sell quickly and turn a nice profit.

David Curri – Your Melbourne Real Estate Specialists

Whether you’re looking for the right vacation home near the Atlantic Coast or searching for your forever home, Dave Curri and his team at David Curri are the right choices for housing in Melbourne, and all of Brevard County. We have in-depth knowledge of the Florida market and the characteristics of each area of Melbourne to help you find the best home for your needs. Buying or selling, trust the David Curri team. We don’t just sell houses – we build trusted relationships. Call us today for a personalized consultation!