Palm Bay buyers who expect to negotiate off the list price are watching the wrong number. The median home closed at 100.0% of its final list price in September, yet 59% of sales came with seller concessions, at a median of $10,000.

That's where the room is in Brevard's busiest market: 214 closings, 1,076 active listings and a median sale of $324,995. Nearly half of September's sales were brand new homes.

Palm Bay market snapshot, September 2026

Measure September 2026
Closed sales 214
Median sale price $324,995
Median price per sq ft $190
Median sale-to-list 100.0%
Sales within 5% of list price 90%
Median days on market 35
Active listings 1,076
Pending sales 252
Months of inventory about 5.0
Active listings with a price cut 50%
Cash purchases 13%
Monthly principal and interest on $324,995 (20% down, 7.03%) $1,735

New construction vs. resale

  New construction Resale
Closed sales 105 109
Median sale price $345,000 $300,000
Median price per sq ft $192 $185
Median sale-to-list (final price) 100.0% 99.4%
Median sale vs. original asking 98.4% 96.3%
Active listings / median asking 403 / $367,250 673 / $324,900

New builds made up 105 of Palm Bay's 214 closings. Their median of $345,000 ran about $45,000 above resale homes, at nearly the same price per square foot ($192 vs. $185).

New construction also dominates the supply: 403 of the 1,076 active listings are new builds. Resale sellers are competing with builders who can offer incentives, which is a big part of why concessions are so common here.

How Palm Bay compares nearby

Town Median sale Price per sq ft Days on market Closed
Melbourne Beach $565,000 $345 48 23
Satellite Beach $505,000 $291 62 24
West Melbourne $417,845 $214 18 16
Melbourne $337,500 $224 39 95
Palm Bay $324,995 $190 35 214
Barefoot Bay $169,000 $159 59 17

Buying in Palm Bay this month

Don't plan on a lower price. Plan on a better package. With 59% of September sales including concessions (median $10,000), asking a seller or builder to cover closing costs or buy down your rate is normal in Palm Bay.

Inventory is on your side. At about 5.0 months of supply and 50% of active listings already reduced, you have time to compare. Palm Bay's $324,995 median is about $30,000 below the Brevard-wide median of $355,000.

At the September 24 Freddie Mac rate of 7.03%, principal and interest on the Palm Bay median runs about $1,735 a month with 20% down. Taxes, insurance and any association fees are on top of that.

Selling in Palm Bay this month

You're competing with 1,076 active listings, including new homes with builder incentives. Homes that closed did so at 100.0% of their final list price, but 50% of active listings have cut their price at least once.

Price it right on day one and budget for concessions. 36 Palm Bay homes went under contract within a week of listing in September. 58 sat more than 90 days.

The median sale came in at 97.5% of original asking. Most sellers who adjusted gave back a few percent, not a lot, so a sharp first price is worth more than a big reduction later.

Search Palm Bay by type

All Palm Bay homes for sale · Palm Bay condos · Palm Bay waterfront homes · Palm Bay pool homes · Palm Bay new construction homes · Palm Bay 55+ homes · Palm Bay luxury homes · Palm Bay homes under $350K · Palm Bay lots and land · Palm Bay multi-family homes

Neighborhoods with September sales

Cypress Bay West · Tillman · St Johns Preserve · Malabar Springs · Palm Bay Colony · The Timbers at Everlands

More on Palm Bay

Weighing a move? Start with PROS and CONS of Living in Palm Bay FL in 2026 (Before You Move). For more detail, see First-Time Homebuyer Guide for Palm Bay FL (2026) and How Long Does It Take to Sell a Home in Palm Bay FL? (2026 Guide). Earlier Palm Bay market updates: Palm Bay FL Real Estate Market Update (July 2026). Browse every listing on the Palm Bay homes for sale page.

Frequently asked questions

What is the median home price in Palm Bay, FL?

$324,995 in September 2026, across 214 closings, at a median of $190 per square foot.

How long do homes take to sell in Palm Bay?

The median was 35 days on market in September. 90% of sales closed within 5% of their final list price.

Are Palm Bay home prices dropping?

Sale prices are holding near list: the median closed at 100.0% of final list price. The change is in the terms. 59% of sales included seller concessions, and 50% of active listings have cut their price.

How much are new construction homes in Palm Bay?

New construction closed at a median of $345,000 in September, across 105 sales.

Is Palm Bay a buyer's or seller's market?

At about 5.0 months of inventory, it's a market that leans toward buyers. 50% of active listings have had at least one price cut.

How many homes are for sale in Palm Bay?

1,076 active listings at the end of September, plus 252 under contract.

Thinking about Palm Bay?

If you're weighing Palm Bay against the rest of Brevard County, my partner Nichole and I got your back. Reach out anytime at (321) 212-7676 or www.livingspacecoast.com.

Sources: Space Coast MLS residential data for Palm Bay, closings September 1 to 30, 2026; active and pending as of September 30, 2026. Mortgage rate: Freddie Mac Primary Mortgage Market Survey, September 24, 2026.