32934, Melbourne, FL

There are many factors that affect home prices, but one of the most important is the availability of homes for sale. In 32934, there are currently a number of homes for sale, which is likely contributing to the high home equity and home prices in this zip code. Additionally, the median price of homes in this zip code has increased significantly over the past few years.

According to Zillow, the median home value in 32934 was $227,200 as of September 2017. This represents an increase of over 20% from 2016, when the median home value was $204,600. Over the past three years (2015-2017), the median price has increased by over 30%. This indicates that there are a number of potential homeowners who are interested in purchasing or investing in properties in this zip code.

One reason why home values have been increasing so rapidly in 32934 is likely due to low inventory levels. Zillow reports that as of September 2017 there were only 2 active listings in this zip code – which is far below average levels for this area. This means that if you’re looking to buy a property in 32934, you’ll likely have to compete with other buyers who want to purchase a house at or near market rates.

Despite these positive trends, it’s important to keep in mind that not all areas within 32934 are experiencing similar increases in home values and equity. The east side of town – which includes areas like Melbourne Heights and University Park – has seen slower growth than other parts of town over recent years. This may be due to limited housing options and/or competition from more affluent neighborhoods nearby (such as Melbourne Beach).