Living in Florida's Space Coast
RIVER COLONY
River Colony is the single-family neighborhood in Melbourne Beach where $715,000 was the median across 15 closed sales in the last twelve months, not one listing reported an association, and 15 of 16 had a private pool. Built 1963 to 2019.
River Colony In Melbourne Beach, Florida
River Colony sits in Melbourne Beach, in the 32951 zip code, on Colony, Hibiscus, Andrews and Banyan. Over the last twelve months 15 of the 16 properties I tracked here actually closed, at a $715,000 median.
The housing stock is 16 single-family homes, built 1963 to 2019. The size range runs 1,770 to 3,361 square feet, which is wide enough that the neighborhood median tells you very little about any one property. Price it off the comparable sales on that street, not the plat.
Sellers closed at about 93 percent of original list, one of the softer ratios on the beachside. That usually means listings started high and cut more than once, not that buyers are stealing anything.
one of the 16 properties are waterfront. That single line is the biggest split inside River Colony, and a waterfront property and an interior one on the same street should never be priced off each other.
River Colony At A Glance
Every figure below comes from the last twelve months of Melbourne Beach market data for this neighborhood. Nothing here is an estimate.
| Detail | What you get |
|---|---|
| Housing type | 16 single-family homes, mostly one story |
| Home size range | Roughly 1,770 to 3,361 square feet, median about 2,300 |
| Bedrooms and baths | three to five bedrooms, two to four baths |
| Lot size | 0.27 to 0.64 acres, median about 0.30 |
| Year built | 1963 to 2019, median 1972 |
| Median sold price | $715,000 over the last twelve months |
| Sold price range | $550,000 to $2,370,000 |
| Price per square foot | About $326 median |
| HOA dues | None. All 16 recent listings reported no association. |
| Waterfront | 1 of 16, on the Indian River |
| Private pools | 15 of 16 |
| Garage | 16 of 16 listings reported a garage |
| Property tax | About $5,263 median annual, ranging widely with assessment history |
| Days on market | 20 days median, at about 93 percent of original asking price |
| Location | Melbourne Beach, 32951 |
River Colony Costs, Honestly
The line items that decide what this actually costs you, beyond the purchase price.
Insurance And Flood
Get the quote firstEvery address on this island is underwritten on its own elevation certificate, roof age and opening protection. Two properties on the same street can be thousands apart a year. I get you a real quote inside the inspection period, before the payment you are picturing becomes the payment you are stuck with.
The Seawall And The Dock
The item people forgetA seawall has a lifespan and replacing one is a five figure job. So is a dock, a lift and the electrical that runs them. On a no-association street where every dollar of it is yours, that question gets answered in writing before you go hard on a deposit.
The Tax Bill Resets
About $5,263 median todayThat is what the current owners pay, not what you will. Florida caps annual assessment increases for homesteaded owners and the cap resets on sale, so on a property somebody has held fifteen years your first bill can land materially higher. I run the reset number before you write.
Real Negotiating Room
About 93 percent of original listA 20 day median with closings near 93 percent of the original asking price. That is a narrow gap, so the win here comes from being ready to move rather than from grinding the price.
River Colony Features
Waterfront Available
1 of the 16 properties front the Indian River. Verify the seawall condition, the dock permit and the actual depth at low tide before you rely on a listing photo.
No HOA At All
All 16 recent listings reported no association. Nothing governs the paint color, the boat in the driveway or the fence line except the recorded deed restrictions on that plat.
Pools Are Standard
15 of the last 16 had a private pool. On the barrier island the pump, the heater and the screen enclosure age faster than they do inland, so those get inspected separately from the house.
Mostly Single Story
14 of the 16 listings reporting stories were one level, typical of when this was platted.
A Very Wide Price Range
From $550,000 to $2,370,000 on the same streets, so condition and location inside the plat decide price far more than the address does.
Original Era Housing
Median year built is 1972. Roof age, wiring and plumbing are the three things that decide both your insurance quote and your first five years of budget.
Homes For Sale In River Colony
Every active River Colony listing, straight from the MLS and updated as it changes.
River Colony Frequently Asked Questions
What do homes sell for in River Colony?
The median closed price over the last twelve months was $715,000 across 15 sales, ranging $550,000 to $2,370,000. Median price per square foot was $326.
Does River Colony have an HOA?
No. All 16 recent listings reported no association. Recorded deed restrictions may still apply to the plat, and I pull those for the specific parcel.
Is River Colony waterfront?
1 of the 16 properties front the Indian River. Which water it is changes the price, and on canal or river frontage the seawall, the dock permit and the low tide depth all need checking before you rely on the photos.
Can you negotiate on price in River Colony?
Sellers closed at about 93 percent of original list over the last year. That is softer than most of the beachside, which usually means listings started high rather than that buyers are getting bargains. I price the offer off the specific comparable sales, not the neighborhood average.
Are there pool homes in River Colony?
Yes. 15 of the 16 properties have a private pool. On the barrier island the pump, the heater and the screen enclosure age faster than inland, so I have those inspected separately from the structure.
What are property taxes like in River Colony?
The median bill on record is about $5,263, but that is what the current owners pay. Florida caps annual assessment increases for homesteaded owners and the cap resets when the property sells, so your first bill can be materially higher. I run the reset number before you write an offer.
What is the buying process like in River Colony?
I pull the closed comparable sales for the specific street, get a real wind and flood quote inside the inspection period, run the tax reset so the monthly payment you are picturing is the one you will actually have, and read whatever association or deed documents apply. Then we write. Call me at (321) 212-7676.
Melbourne Beach, 32951
River Colony sits in Melbourne Beach, in the 32951 zip code, on Colony, Hibiscus, Andrews and Banyan. The town runs south along A1A from the Melbourne Causeway toward Sebastian Inlet, and the further south you go the thinner and quieter the island gets.
That geography is the whole story on price down here. A Melbourne Beach address can mean a 1950s cottage two blocks from the pier or a gated riverfront community fifteen minutes south. Those are different markets that happen to share a post office.
Near River Colony In Melbourne Beach
Considering River Colony?
If River Colony is on your list, my partner Nichole and I are the agents to call. We work Melbourne Beach every week, we know these streets, and we will tell you straight whether a property is priced right. Reach out anytime at (321) 212-7676.
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