Home Values

Melbourne Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$118,500

  • 7.5% 1-year change
  • 3.8% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Hot

Buyers' Market
Sellers' Market

The median home value in Melbourne is $118,500. Melbourne home values have gone up 7.5% over the past year and Zillow predicts they will rise 3.8% within the next year. The median list price per square foot in Melbourne is $95, which is lower than the Melbourne Metro average of $105. The median price of homes currently listed in Melbourne is $144,500 while the median price of homes that sold is $126,325. The median rent price in Melbourne is $1,000, which is lower than the Melbourne Metro median of $1,100.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Melbourne is 8.5%, which is higher than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Melbourne homeowners underwater on their mortgage is 20.0%, which is lower than Melbourne Metro at 21.4%.

Read more
Relative ZHVI
- +

Melbourne Market Overview

Data through Feb 28, 2015
  • $118,500 ZHVI
  • 3.8% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $144,500 Median listing price
  • $126,325 Median sale price
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Melbourne Market Health

Data through Feb 28, 2015
  • 1.1/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 20.0% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 8.5% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Nearby Cities

Name Median ZHVI
Indialantic $298,200
Melbourne Beach $288,400
Grant-Valkaria $254,600
Name Median ZHVI
Satellite Beach $219,700
Cocoa Beach $214,100
Malabar $208,100
Name Median ZHVI
Indian Harbour Beach $203,100
West Melbourne $161,500
June Park $141,200

Listings & Sales

Data through Feb 28, 2015
  • $95 Median list price / sq ft
  • $91 Median sale price / sq ft
  • 14.4% Listings with price cut
27.9%
Sold below listing
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Melbourne Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,099 Melbourne
    $1,201 Melbourne Metro
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,000 Rent list price
  • $0.86 Rent list price / sq ft
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading