Home Values

Melville 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

$456,900

  • -16.4% 1-year change
  • -6.1% 1-year forecast

The median home value in Melville is $456,900. Melville home values have declined -16.4% over the past year and Zillow predicts they will fall -6.1% within the next year. The median price of homes currently listed in Melville is $739,000 while the median price of homes that sold is $604,231. The median rent price in Melville is $2,870, which is higher than the New York Metro median of $2,400.

Foreclosures will be a factor impacting home values in the next several years. In Melville 1.1 homes are foreclosed (per 10,000). This is lower than the New York Metro value of 1.4 and also lower than the national value of 3.9

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 Melville is 13.3%, 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 Melville homeowners underwater on their mortgage is 9.3%, which is lower than New York Metro at 13.1%.

Read more
Relative ZHVI
- +

Melville Market Overview

Data through Feb 28, 2015
  • $456,900 ZHVI
  • -6.1% 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)
  • $739,000 Median listing price
  • $604,231 Median sale price (Jan 31, 2015)
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

Melville Market Health

Data through Feb 28, 2015
  • 4.2/10 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
  • 9.3% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 13.3% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

1.1 homes Melville
1.4 homes New York Metro
3.9 homes United States
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
Woodbury $887,400
Dix Hills $649,800
Old Bethpage $556,000
Name Median ZHVI
West Hills $523,400
Plainview $502,600
South Huntington $358,900
Name Median ZHVI
Farmingdale $350,800
Huntington Station $311,700
Wyandanch $226,500

Listings & Sales

Data through Feb 28, 2015
  • $149 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 11.3% Listings with price cut
14.5%
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

Melville Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $2,623 Melville
    $2,348 New York 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

  • 4.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $2,870 Rent list price
  • $2.40 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