$6,220 Closing Credit*
$523,765
2,962 SqFt
5 Beds
•3 Full Baths
#1032190, Shirley Weems, Listing Office: Waterman Real Estate, Inc.
Is West Melbourne, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$408,333
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$4,207(+1.0%)
Key Takeaway
Homes in West Melbourne have sold for 1% more than they did a year ago.
Summary: The median home sold price in West Melbourne was $408,333 in November 2024, up 1% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137K | $140.2K | +2.4% |
| 2 Bedrooms | $220K | $189.5K | -13.9% |
| 3 Bedrooms | $377.4K | $370K | -2.0% |
| 4 Bedrooms | $439.1K | $440K | 0.2% |
| 5+ Bedrooms | $545.9K | $530K | -2.9% |
Summary: West Melbourne housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 13.9%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
| West Brevard | $495K | $547.5K | +10.6% |
| Melbourne | $393.8K | $420K | +6.6% |
| West Melbourne | $404.1K | $408.3K | +1.0% |
| Palm Bay | $332.9K | $330.1K | -0.8% |
Housing Supply in West Melbourne, FL
How many homes are available in West Melbourne, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 168 | 172 | +2.4% |
Summary: The West Melbourne real estate market had 172 homes for sale in November 2024, a 2.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 33 | 31 | -6.1% |
| 3 Bedrooms | 56 | 59 | +5.4% |
| 4 Bedrooms | 69 | 71 | +2.9% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The West Melbourne housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 28 | -15.2% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 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. 89.3% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in West Melbourne in November 2024, down by 15.2% month-over-month. Of the 28 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 71 Days | +102.1% |
Summary: Homes in West Melbourne had an average of 71 days on market in Nov 2024, up by 102.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in West Melbourne has remained consistent over time.
Summary: During November 2024, 28 homes were sold in West Melbourne; 21% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.