$4,726 Closing Credit*
$397,999
1,822 SqFt
4 Beds
•2 Full Baths
Barbara A Zapotocky, Listing Office: RE/MAX Aerospace Realty
Is West Melbourne, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, West Melbourne was a Seller's Market.
Key Takeaway
West Melbourne 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 West Melbourne, FL
How much do homes in West Melbourne, FL cost?
Median Sold Price
$405,630
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$1,296(+0.3%)
Key Takeaway
The sold price of homes in West Melbourne has remained the same since last year.
Summary: The median home sold price in West Melbourne was $405,630 in October 2024, up 0.3% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137K | $145.5K | +6.2% |
| 2 Bedrooms | $218.5K | $195.9K | -10.3% |
| 3 Bedrooms | $380K | $366.4K | -3.6% |
| 4 Bedrooms | $445K | $434K | -2.5% |
| 5+ Bedrooms | $541.9K | $521.9K | -3.7% |
Summary: West Melbourne housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Cities
| West Brevard | $496.9K | $538.4K | +8.3% |
| Melbourne | $389.3K | $420.8K | +8.1% |
| West Melbourne | $404.3K | $405.6K | 0.3% |
| Palm Bay | $333K | $330K | -0.9% |
Housing Supply in West Melbourne, FL
How many homes are available in West Melbourne, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 182 | 186 | +2.2% |
Summary: The West Melbourne real estate market had 186 homes for sale in October 2024, a 2.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 33 | 34 | +3.0% |
| 3 Bedrooms | 52 | 65 | +25.0% |
| 4 Bedrooms | 83 | 76 | -8.4% |
| 5+ Bedrooms | 13 | 10 | -23.1% |
Summary: The West Melbourne housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes decreased by 23.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 30 | 0.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Melbourne, you may be able to get a good deal. 76.7% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in West Melbourne in October 2024, the same as the previous month. Of the 30 sold homes, 77% were sold under asking, 10% were sold at asking, and 13% were sold over asking.
Days on Market for West Melbourne, FL
How long does it take to sell a home in West Melbourne, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 66 Days | +142.5% |
Summary: Homes in West Melbourne had an average of 66 days on market in Oct 2024, up by 142.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in West Melbourne has remained consistent over time.
Summary: During October 2024, 30 homes were sold in West Melbourne; 27% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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