Melbourne Florida Real Estate Forecast 2022

With the steady stream of new residents to Melbourne, FL, it's hard to know what the real estate market will look like in 2022. But one thing is for sure: there will be more people looking for homes than ever before.
By: AAmerican Property Management
 
MELBOURNE, Fla. - Jan. 11, 2022 - PRLog -- Per Steve Neville, Broker owner of Best Brevard Rentals

With a population forecasted to grow substantially in the next decade and average home prices rising steadily, it's time to act now if you're considering buying or selling your current property. The sooner you get started on your plans, the better!

According to the latest data, what you see is likely what you get … not much of a price change expected this year (although it might be up or down by about 1% more than usual).

The Melbourne Florida real estate market is expected to remain strong in 2022. The median listing price is forecast to increase by 5% to $368,500, the median listing price per square foot is forecast to increase by 3% to $206, and the median selling price is forecast to increase by 4% to $367,000. The sale to list price ratio is forecast to remain stable at 100%, and the median days on the market are forecast to decrease by 2 days to 42 days. These forecasts are based on current market conditions and trends, so they may change as the market changes.

On the other hand, there is still a lot of room for improvement when it comes to housing in Melbourne. For example, in a recent analysis by WalletHub, Florida was ranked 50th out of 51 US states in terms of affordability and quality of life. It was also ranked 42nd overall in regard to job market strength. In order for housing demand to increase at a quicker pace, many factors need to be addressed such as improving public education and building additional residential units.

Also, the introduction of distressed properties could have a negative impact on the overall residential real estate market here in Melbourne. This is due to current circumstances, which do not include foreclosures and short sales because they were suspended or placed under moratorium during the onset of the global pandemic outbreak as well as subsequent shutdowns from local authorities.

If you're thinking of buying or selling a home in Melbourne Florida, it's important to stay up-to-date on the latest market trends. Contact a local real estate agent to get more information on the current market conditions in your area and learn about the best time to buy or sell real estate.

For more information please see http://www.bestbrevardrentals.com

Contact
Steve Neville
***@2apm.com
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Email:***@2apm.com
Tags:Brevard County Property Mgmt
Industry:Real Estate
Location:Melbourne - Florida - United States
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