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·Palm Bay–Melbourne Metro
FL

Palm Bay–Melbourne Metro

Palm Bay–Melbourne Metro Market Report

Top 10 ZIPs by size — 7.32% mortgage rate — Updated 10/27/2026

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Listings Flow Ladder — Palm Bay

Faucet, basin and drain — new listings in, active inventory, closed sales out.as of Sep 30, 2026

the basin is fillingnet 147 listings/mo
balanced 4–6 mo3.9 mo
Faucet — new listings
1,208/mo
98% of normal (1,237) · normal
Basin — active listings
4,156
104% of normal (4,011) · low
Months of supply
3.9 mo
derived — not published at this grain
Drain — closed sales
1,061/mo
91% of normal (1,161)
Net — faucet minus drain
+147/mo
filling
Reading
current
as of 2026-09-30
Compare against:
2015-01-01 to 2019-12-31 · 5 same-month points

How plugged is the drain? Two definitions, both ours, deliberately not reconciled.

  • 11%Absorption vs its own normal— 1 - (closed sales / active listings) / same-month median of that ratio
  • 9%Closed sales vs its own normal— 1 - closed sales per month / same-month median closed sales per month

Closed sales over 24 months — two different numbers, deliberately not merged.

  • 91/mofall in the monthly rate (8%)— peak 1,152/mo (2026-07-31) to 1,061/mo now
  • 2,563transactions that did not happen— summed monthly shortfall vs the same-month normal, over 24 months below it (vs 2015-19 (COVID excluded))
  • rate_drop_from_peak is a change in the monthly rate; cumulative_shortfall_vs_normal counts transactions not transacted. They are different quantities and are not interchangeable.
2026-09-30

Redfin market data (county + ZIP), via Lotvox. As of 2026-09-30. Normal = same-month median of monthly rates, minimum 3 same-month points. Source window 3 months (flows shown per month). Aggregated over a fixed panel of 27 zips — the panel is fixed so a change in who reports cannot look like a change in the market. months_of_supply is not published at this grain (0 non-null rows measured); derived here as active listings / closed sales per month.

Verified county coverage:Brevard County, FL

Tracked ZIPs
10
Avg Score
56
Avg Median
$352,023
Market
Buyer's
Avg Composite
56/100
Avg Median Price
$352,023
Avg Rent
$2,007/mo
Avg Burden
28.8%of income

Buyer Leverage — Should I Buy in Palm Bay?

56
Avg Buyer Score
30 ZIPs analyzed
Strong Buyer
2
Moderate
8
Balanced
18
Seller Favored
2
Strong Seller
0
Best for Buyers
32754Mims80
32950Malabar70
32908Palm Bay70
Most Competitive
32922Cocoa34
32935Melbourne38
32796Titusville41
32920Cape Canaveral44
32905Palm Bay44

MODERATE — Palm Bay has mixed conditions, pockets of opportunity

32909
Palm Bay, brevard county
55
Median Price
$317,526
YoY
-1.4%
Payment Burden
27.3%
Buy vs Rent
Buy
Days on Market
80
Supply
5 mo
Rent
$1,935
Val. Gap
-45.3%
32940
Melbourne, brevard county
48
Median Price
$490,982
YoY
-0.3%
Payment Burden
30.4%
Buy vs Rent
Neutral
Days on Market
62
Supply
2.7 mo
Rent
$2,253
Val. Gap
-46%
32907
Palm Bay, brevard county
58
Median Price
$301,874
YoY
-1.0%
Payment Burden
27.7%
Buy vs Rent
Buy
Days on Market
55
Supply
3.3 mo
Rent
$2,102
Val. Gap
-15.2%
32908
Palm Bay, brevard county
50
Median Price
$317,837
YoY
-1.1%
Payment Burden
31.5%
Buy vs Rent
Buy
Days on Market
97
Supply
4 mo
Rent
$2,072
Val. Gap
-29.1%
32780
Titusville, brevard county
59
Median Price
$274,566
YoY
-0.4%
Payment Burden
28%
Buy vs Rent
Buy
Days on Market
62
Supply
4.2 mo
Rent
$1,606
Val. Gap
+1.7%
32955
Rockledge, brevard county
61
Median Price
$370,203
YoY
+0.2%
Payment Burden
28.7%
Buy vs Rent
Neutral
Days on Market
45
Supply
3.4 mo
Rent
$1,929
Val. Gap
-13.2%
32935
Melbourne, brevard county
62
Median Price
$268,182
YoY
-0.8%
Payment Burden
27.7%
Buy vs Rent
Buy
Days on Market
61
Supply
3.3 mo
Rent
$1,590
Val. Gap
+7.3%
32904
Melbourne, brevard county
48
Median Price
$377,693
YoY
-0.6%
Payment Burden
28.6%
Buy vs Rent
Neutral
Days on Market
56
Supply
3.3 mo
Rent
$1,928
Val. Gap
-30.9%
32937
Satellite Beach, brevard county
54
Median Price
$496,585
YoY
+1.1%
Payment Burden
33.3%
Buy vs Rent
Neutral
Days on Market
62
Supply
4.7 mo
Rent
$2,508
Val. Gap
-12.9%
32927
Cocoa, brevard county
65
Median Price
$304,782
YoY
+0.9%
Payment Burden
24.5%
Buy vs Rent
Buy
Days on Market
44
Supply
2.4 mo
Rent
$2,142
Val. Gap
+42%

Median price and 12-month change: Zillow Home Value Index (ZHVI); where a ZIP has no ZHVI value, the county assessor average. Days on market: Redfin Data Center, rolling 90 days; months of supply: Redfin Data Center. Rent: Zillow Observed Rent Index (ZORI); where a ZIP has no ZORI value, the Census ACS county rent.

Every ZIP market page in Palm Bay–Melbourne Metro (26)