August-2024 Home Sales Trends in Melbourne Beach, Florida

Covering the Melbourne Beach Neighborhood

melbourne beach

As a real estate professional, it is important to understand the correlation between key metrics in the market to make informed decisions when buying or selling a property.

First, let's look at the Months Supply of Inventory, which is currently at 8. This metric indicates how long it would take for all the current listings on the market to sell at the current sales pace. A higher number typically indicates a buyer's market, while a lower number indicates a seller's market.

The 12-Month Change in Months of Inventory has increased by +76.99%, showing a significant shift in market conditions over the past year. This increase suggests that there are more homes available for sale compared to the previous year, potentially giving buyers more options to choose from.

The Median Days Homes are On the Market is 49, indicating that properties are selling relatively quickly in this market. This metric is important for sellers to understand how long their property may be on the market before finding a buyer.

The List to Sold Price Percentage is 95%, showing that properties are typically selling close to their list price. This can be a helpful metric for both buyers and sellers to negotiate offers effectively.

Lastly, the Median Sold Price is $565,000, giving buyers and sellers an idea of the average price of homes that are selling in the market. This metric can help buyers determine if a property is priced competitively and sellers to set a realistic asking price.

Expert Services

Overall, the data suggests that the market is balanced with a decent supply of inventory, properties selling quickly, and prices holding steady. Buyers may have more options to choose from, while sellers can expect their properties to sell close to the list price. It is important for both buyers and sellers to work with a knowledgeable real estate agent to navigate the market effectively.

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By

Brian Rice

Brian is the owner and managing Broker at Real Estate Kingz LLC, a Florida licensed Real Estate Brokerage. You can contact Brian at 866-735-4649 (866-Re-Kingz) or visit BrianRiceRealtor.com

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