April’s Average Sales Price
$491,000, it’s now at $454,000.
In September, the FED lowered the federal funds rate, causing mortgage rates to drop. However, this hasn’t fully motivated buyers, and inventory is up 63% from last year. 52% of Melbourne homes saw price reductions, with April’s average price dropping from $491,000 to $454,000. Sellers need competitive pricing to stand out in the current market.
Explore our digital brochure for deeper insights into the Space Coast luxury and waterfront real estate market, including emerging trends, challenges, and how to successfully navigate these evolving market conditions.