$99,900
40.00 Acres
Land
#24045161, Anna Dean, Listing Office: Re/Max Edge Realty Melbourne
Is Melbourne, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Melbourne was a Neutral Market.
Key Takeaway
Melbourne is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Melbourne, AR
How much do homes in Melbourne, AR cost?
Median Sold Price
$159,500
$141/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$152,500(-48.9%)
Key Takeaway
Homes in Melbourne have sold for 48.9% less than they did a month ago.
Summary: The median home sold price in Melbourne was $159,500 in November 2024, down 48.9% from last month, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $244K | $159.5K | -34.6% |
| 3 Bedrooms | $149.9K | $238.6K | +59.2% |
| 4 Bedrooms | $389.9K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Melbourne housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 34.6%, 3 bedroom homes increased by 59.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Sage Township | $210.2K | $159.5K | -24.1% |
| Melbourne | $312K | $159.5K | -48.9% |
| Mill Creek Township | $274.9K | $127.4K | -53.6% |
Housing Supply in Melbourne, AR
How many homes are available in Melbourne, AR?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 26 | +8.3% |
Summary: The Melbourne real estate market had 26 homes for sale in November 2024, a 8.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 5 | +150.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 2 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Melbourne housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Melbourne, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Melbourne in November 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Melbourne, AR
We’re sorry, we don't have information for this market at the moment
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