Real Estate Market Update for
32940 (Melbourne, 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 up 100% from one year earlier, and up 200% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was just under 530-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 63%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 210-thousand dollars. The number of units sold was consistent year-over-year, and decreased 67% 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.