September-2024 Home Sales Trends in Melbourne Beach, Florida
The real estate market is currently showing a months supply of inventory at 7.43, indicating a balanced market where sellers and buyers have relatively equal bargaining power. This figure represents the number of months it would take to sell all current listings at the current sales pace.
The 12-month change in months of inventory has increased by +51.94%, suggesting a shift towards a more buyer-friendly market with more inventory available for purchase. This could potentially lead to more negotiating power for buyers and potentially lower prices.
Homes are spending a median of 61 days on the market before being sold, indicating a relatively quick turnover rate in the current market. This could be attributed to strong demand from buyers and well-priced listings.
The list to sold price percentage is at 94%, showing that homes are typically selling for very close to their listing price. This could indicate a competitive market where sellers are receiving strong offers.
The median sold price for homes is $815,000, indicating a higher-end market where homes command a premium price. This could be due to factors such as location, amenities, and overall desirability of the area.
Overall, these metrics paint a picture of a dynamic real estate market with balanced inventory levels, quick turnover rates, and strong pricing. Buyers and sellers alike should be prepared to act quickly and decisively in this market to achieve their desired outcomes.
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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