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Featured local agent — Melbourne, IA
Sarah Mitchell
Compass Real Estate · Melbourne, IA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Melbourne, IA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$147,000median sale price
How is the Melbourne, IA housing market right now?
The median home sale price in Melbourne, IA is $147,000, up 9.7% year-over-year. Homes sell in an average of 16 days with 2 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Melbourne a buyer's or seller's market?
Melbourne, IA is currently a balanced market, based on 2.0 months of supply and homes selling in about 16 days. How we determine this →
Homes sold
1
Last 12 weeks
Days on market
16
Fast-moving
Active listings
2
2.0 months supply
Sale-to-list
94.8%
Below asking
What does the Melbourne housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $147,000 |
| Median list price | $220,000 |
| Year-over-year price change | +9.7% |
| Average days on market | 16 days |
| Active inventory | 2 listings |
| Months of supply | 2.0 months |
| Sale-to-list price ratio | 94.8% |
| Median price per sq ft | $124/sq ft |
| Homes sold (latest month) | 1 |
| New listings (latest month) | 1 |
| Listings with a price cut | 50.0% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Melbourne by property type?
How the Melbourne, IA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $147,000 | $124/sq ft | 1 | 16 days |
Source: Redfin · Updated monthly
The Melbourne housing market is currently classified as a balanced market with a median sale price of $147,000. Prices have risen 9.7% compared to last year, with homes spending an average of 16 days on market, indicating 2.0 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.0x provides context for how home values compare to local earning capacity.
Homes for sale in Melbourne
There are currently 2 homes listed for sale in Melbourne, Iowa. The median listing price is $220K.
Active listings
2
Homes on market
Median list price
$220K
Avg. days on market
16
Days until sale
New this week
1
Newly listed
Who lives in Melbourne?
Population
714
Median income
$82,857/yr
Median age
39.3 years
Owner-occupied
74.8%
College grads
19.4%
Avg commute
27.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Melbourne?
Zillow home value
$246,496
Price-to-income
3.0x
Source: Zillow Research
What is it like to live in Melbourne?
Melbourne is a community of approximately 1K residents with a median age of 39.3 years.The median household income is $82,857, which reflects a relatively affluent area with strong earning potential. 19.4% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 74.8%, reflecting strong community stability and long-term resident commitment. The average commute time is 27.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Melbourne offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Melbourne, IA?
Want a head-to-head view? Compare Melbourne side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Melbourne?
The median home sale price in Melbourne is $147,000, up 9.7% from last year.
How long do homes stay on market in Melbourne?
Homes typically spend 16 days on market before going under contract.
What is the median income in Melbourne?
The median household income is $82,857 per year.
Is Melbourne a buyer's or seller's market?
With 2.0 months of supply, Melbourne is currently a balanced market.
What is the Zillow home value estimate for Melbourne?
The Zillow Home Value Index (ZHVI) for Melbourne is $246,496, representing the typical home value in the area.
How much does a single-family home cost in Melbourne?
The median single-family home price in Melbourne, IA is $147,000 (about $124 per square foot).
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