Real Estate Market Update for
32940 (Melbourne, FL)
Welcome to November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was down 80% from one year earlier, and down 50% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 430-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold did not change ... reflecting virtually no change in the local inventory-turnover rate. The number of units sold was consistent year-over-year, and decreased 100% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. 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.