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

$122,600

  • 9.0% 1-year change
  • 3.5% 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 $122,600. Melbourne home values have gone up 9.0% over the past year and Zillow predicts they will rise 3.5% within the next year. The median list price per square foot in Melbourne is None. The median rent price in Melbourne is $1,100, which is lower than the Melbourne Metro median of $1,200.

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 6.0%. 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 17.9%, which is lower than Melbourne Metro at 19.0%.

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Relative ZHVI
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Melbourne Market Overview

Data through May 31, 2015
  • $122,600 ZHVI
  • 3.5% 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
    (May 31, 2016)
  • No data Median listing price
  • $138,450 Median sale price
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Melbourne Market Health

Data through May 31, 2015
  • No recent data Less healthy
  • No data Average days on Zillow
  • 17.9% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 8.5% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)
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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 May 31, 2015
  • No recent data Median list price / sq ft
  • $96 Median sale price / sq ft
  • No data Listings with price cut
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Melbourne Rentals

Data through May 31, 2015
  • Zillow Rent Index

  • $1,132 Melbourne
    $1,221 Melbourne Metro
    $1,367 United States

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

  • 1.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $1,100 Rent list price
  • $0.87 Rent list price / sq ft
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