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Featured local agent — Melbourne, KY
Sarah Mitchell
Compass Real Estate · Melbourne, KY
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Melbourne, KY Housing Market & Real Estate
Housing market overview · Updated monthly ·
$210,000median sale price
How is the Melbourne, KY housing market right now?
The median home sale price in Melbourne, KY is $210,000. Homes sell in an average of 117 days with 1 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of December 2025 — 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, KY is currently a balanced market, based on 1.0 months of supply and homes selling in about 117 days. How we determine this →
Homes sold
1
Last 12 weeks
Days on market
117
Average pace
Active listings
1
1.0 months supply
Sale-to-list
93.4%
Below asking
What does the Melbourne housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $210,000 |
| Average days on market | 117 days |
| Active inventory | 1 listings |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 93.4% |
| Median price per sq ft | $192/sq ft |
| Homes sold (latest month) | 1 |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Melbourne by property type?
How the Melbourne, KY market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $210,000 | $192/sq ft | 1 | 117 days |
Source: Redfin · Updated monthly
The Melbourne housing market is currently classified as a balanced market with a median sale price of $210,000. Prices have fallen 0.0% compared to last year, with homes spending an average of 117 days on market, indicating 1.0 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 4.7x provides context for how home values compare to local earning capacity.
Homes for sale in Melbourne
There are currently 1 homes listed for sale in Melbourne, Kentucky.
Active listings
1
Homes on market
Avg. days on market
117
Days until sale
Who lives in Melbourne?
Population
539
Median income
$66,458/yr
Median age
57.2 years
Owner-occupied
95.7%
College grads
32.9%
Avg commute
21.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Melbourne?
Zillow home value
$313,449
Price-to-income
4.7x
Source: Zillow Research
What is it like to live in Melbourne?
Melbourne is a community of approximately 1K residents with a median age of 57.2 years.The median household income is $66,458, which represents a working-class community with solid middle-income opportunities. 32.9% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 95.7%, reflecting strong community stability and long-term resident commitment. The average commute time is 21.4 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, KY?
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 $210,000, down 0.0% from last year.
How long do homes stay on market in Melbourne?
Homes typically spend 117 days on market before going under contract.
What is the median income in Melbourne?
The median household income is $66,458 per year.
Is Melbourne a buyer's or seller's market?
With 1.0 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 $313,449, 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, KY is $210,000 (about $192 per square foot).
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