Real Estate Market Update for Palm Bay, FL
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Welcome to March's Market Update,. Let's take a look at residential real-estate activity in your area during the month of March. The number of active listings was down 41% from one year earlier, and down 1% 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 100-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 22%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 70-thousand dollars. The number of units sold decreased 97% year-over-year, and increased 200% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. 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.
Map Information for Palm Bay, FL
Area Information for Palm Bay, FL
  • Population: 103,833
  • Median Age: 38.98 yr
  • Median Commute Time: 21.66 mins
  • Educational Climate*: 3
  • Sales Tax: 6%
  • Population Density: 1,580/sq mi
  • Population Change Since 2000: 30.87%
  • Closest Airport: Melbourne International
  • Closest College: Florida Institute Of Technology
  • Median Household Income: $45,384
  • Annual Residential Turnover: 15.86%
  • Median Years in Residence: 4.15 yr
  • Median Home Sales Price: $71,000
  • Closest Major Sports Team: Tampa Bay Lighting
  • Change Avg. Household Income Since 2000: 23%
* Scale from 1-5** Index where 100 is the national average
Demographic Data for Palm Bay, FL
Median Age: 38.98 Married: 33% Number of Households: 41,340 Households with Children: 13,894
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 Palm Bay, FL

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      John F. Turner, Sr Elementary School 1.3 mi Public PRESCHOOL-6 2-5 3
      Southwest Middle School 1.4 mi Public 7-8 3 4
      Jupiter Elementary School 1.6 mi Public PRESCHOOL-6 2 3
      Odyssey Charter School 2.0 mi Public PRESCHOOL-9 3-5 3
      Bayside High School 2.0 mi Public 9-12 3-5 4
      Westside Elementary School 2.2 mi Public K-6 3 4
      Christa Mcauliffe Elementary School 2.2 mi Public PRESCHOOL-6 2-5 4
      Columbia Elementary School 2.5 mi Public PRESCHOOL-6 2 2
      Palm Bay Sda School And Early Childhood Center 3.0 mi Private PRESCHOOL-7 0 0
      Covenant Christian School 3.1 mi Private PRESCHOOL-12 0 4
      Royal Palm Charter School 3.4 mi Public K-8 4 5
      Lockmar Elementary School 3.5 mi Public PRESCHOOL-6 4 4
      Easter Seals Florida, Inc. 3.7 mi Public - 0 0
      Faith Christian School 3.9 mi Private 1-12 0 0
      Port Malabar Elementary School 4.0 mi Public K-6 3 4
      Riviera Elementary School 4.2 mi Public PRESCHOOL-6 2 4
      Heritage High School 4.3 mi Public 9-12 2-5 3
      Saint Joseph Catholic School 4.3 mi Catholic PRESCHOOL-8 0 5
      Discovery Elementary School 4.6 mi Public K-6 2-5 3
      Riverdale Country Day School 5.6 mi Public K-12 0 2
      Sunrise Elementary School 5.7 mi Public K-6 4 4
      Palm Bay Academy Charter School 5.7 mi Public K-8 3 3
      Palm Bay Elementary School 6.2 mi Public PRESCHOOL-6 2 3
      Diamond Community School Inc 7.2 mi Private 1-12 0 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: GreatSchools.org and Onboard Informatics 2014
      Local Weather for Palm Bay, FL
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 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.