Palm Bay Real Estate Market Report

Palm Bay, FL, one of the largest cities on Florida’s Space Coast, is a hub of growth and opportunity. With its diverse neighborhoods, abundant natural beauty, and economic potential, Palm Bay is an attractive destination for families and businesses alike. It’s a city where nature’s beauty and urban development coexist harmoniously, offering a vibrant and fulfilling lifestyle.

Surrounding Area & Amenities

Palm Bay offers a wealth of amenities, with beautiful parks and community recreational areas to excellent schools and shopping centers. The city is known for its outdoor activities, including boating, fishing, and hiking, thanks to its proximity to the Indian River and Atlantic Ocean. Palm Bay is also home to several golf courses, community centers, and cultural attractions, providing a balanced and engaging lifestyle for its residents.



 

Trends in Home Value

The Palm Bay real estate market report shows a slight decrease in home values, with the median sale price at $332,000, down 0.77% from last year. Despite this slight dip, the market remains relatively stable, and Palm Bay continues to be an attractive area for both buyers and investors. The median sale price per square foot is $193, which has decreased by 2% year-over-year.

Demand and Outlook

Homes in Palm Bay typically receive one offer and sell in about 67 days on average, reflecting a somewhat competitive market. There is a high level of interest from both local buyers and those relocating from other areas, particularly from Miami, Orlando, and New York. The outlook for Palm Bay’s real estate market remains positive, with steady demand expected to continue as more people discover the benefits of living in this thriving city.

Real Estate Opportunities

Palm Bay offers a variety of real estate opportunities, from affordable single-family homes to luxury properties and investment opportunities. The city’s diverse neighborhoods cater to different lifestyles and preferences, making it an excellent choice for families, retirees, and investors alike. Whether you’re looking for a waterfront property, a home in a quiet suburban area, or an investment property, Palm Bay has something to offer.

Contact Us

Ready to explore the real estate opportunities in Palm Bay? Contact Blue Marlin Real Estate today to find your next property in this dynamic and growing city. Our expert team is here to help you navigate the market and find the perfect home that meets your needs. Let Blue Marlin Real Estate provide you with professional, personalized service every step of the way.