The Melbourne Area Association of Realtors keeps statistics on the Real Estate market by tracking property movement on the Multiple Listing Services (MLS). The numbers may surprise you. Melbourne Area and Space Coast Area of Realtors share the same MLS. These stats cover Brevard County, Florida communities including (but not limited to) Palm Bay, Melbourne, Melbourne Beach, Indialantic, Indian Harbor Beach, Merritt Island, Satellite Beach, Viera, Rockledge, Cocoa, Port St. John, Cocoa Beach, Titusville and Mims.
Average Sales Price for residential homes was $246,518 in Sep 06. Since then the market has adjusted the average price to $233,935 or 5.1% drop.
Average Sales Prices for Condos was $269,547 in Sep 06. A year later (Sep 07) the average price is $282,085.
You won't hear these numbers trumpeted in the media but facts are facts. In terms of volume, Sep 06 showed 394 residential home sales as opposed to 249 home sales in Sep 07 and 364 in Oct 07.