Real Estate Market Update for 32907 (Palm Bay, FL)
Welcome to June's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was stable from one year earlier, and down 25% from the previous month. These latest figures mean that buyers had a more limited selection of homes to choose from compared to the previous month. As you can see, the median listing price for the month was just under 220-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up more than 2000%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 140-thousand dollars. The number of units sold increased 100% year-over-year, and increased 100% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 32907 (Palm Bay, FL)
Area Information for 32907 (Palm Bay, FL)
  • Population: 42,579
  • Median Age: 42.05 yr
  • Median Commute Time: 26 mins
  • Educational Climate*: 3
  • Sales Tax: 6%
  • Population Density: 2,401/sq mi
  • Population Change Since 2000: 23.77%
  • Closest Airport: Melbourne International
  • Closest College: Florida Institute Of Technology
  • Closest Jr. College: Brevard Community College-palm Bay
  • Median Household Income: $48,979
  • Annual Residential Turnover: 10%
  • Median Home Sales Price: $114,200
  • Closest Major Sports Team: Brevard County Manatees (a)
  • Change Avg. Household Income Since 2000: 21.03%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 32907 (Palm Bay, FL)
Median Age: 42.05 Married: 44% Number of Households: 15,688 Households with Children: 4,648
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 32907 (Palm Bay, FL)

      School Name Distance Type Grades School Rating Parent Rating
      Heritage High School 0.7 mi Public 9-12 3 3
      Discovery Elementary School 2.2 mi Public K-6 2 0
      Christa Mcauliffe Elementary School 3.6 mi Public PRESCHOOL-6 2 0
      Pineapple Cove Classical Academy 3.6 mi Public - 0 0
      Faith Christian School 3.8 mi Private 1-12 0 0
      Covenant Christian School 4.6 mi Private PRESCHOOL-12 0 0
      Lockmar Elementary School 4.9 mi Public PRESCHOOL-6 3 0
      Great Leaps Academy 4.9 mi Private - 0 0
      Palm Bay Sda School And Early Childhood Center 5.3 mi Private PRESCHOOL-8 0 0
      Port Malabar Elementary School 6.8 mi Public K-6 2 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for 32907 (Palm Bay, FL)
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.