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Space Coast home prices hold near $390,000 amid weaker demand

Median list prices for single-family homes stayed around $389,990, while pending sales fell from 1,221 in mid-June to 1,049 as of Aug. 14.

Reported · Written up by our desk · Residential

HousingWire reports Florida’s Space Coast housing market is showing mixed signals, with asking prices holding near $390,000 even as buyer activity cools.

In the Palm Bay-Melbourne-Titusville metro, active inventory is 20.7% lower than a year ago, but 47% of listings have price cuts. As of Aug. 14, the median list price for a single-family home was $389,990, down 2.3% from $399,000 a year earlier, with no change from the prior week.

The outlet also points to softer transaction momentum, saying pending home sales declined over the past eight weeks, falling from 1,221 in mid-June to 1,049 as of Aug. 14. Experts cited inventory still being relatively tight, along with homeowners’ reluctance to move away from prices set during the earlier low-rate period.

HousingWire notes job growth supports demand, but higher insurance costs and a November property-tax amendment could affect future buyer activity and affordability as the market continues to adjust. The story frames the current setup as a slow transition, where inventory shifts first and price adjustments come later.

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