Merritt Island, FL housing market

The median sale price in Merritt Island, FL was $379K in May 2026, down 5.2% year over year, measured across homes that actually closed that month (Redfin). The three months through May 2026 averaged $430K, easing from $477K across the three months before that. That puts prices 14.6% below the strongest three-month stretch on record here, which ended in Mar 2026 at $504K. Zillow's home value index, which models the entire housing stock rather than only the homes that changed hands, reads $436K for Jun 2026, down 0.7% year over year.

Buyers had 215 homes to choose from in May 2026, down 24.6% year over year (Redfin). At the current sales pace that standing inventory works out to 3.8 months of supply; convention treats four to six months as a balanced market, which puts Merritt Island, FL on the sellers' side of that line. 69 homes came to market in May 2026, down 9.2% year over year, against 56 closings, up 3.7% year over year. Homes that sold in May 2026 took a median of 87 days to go under contract, 19 days slower than this market's usual May pace.

Competition is measurable in the closings themselves: 9% settled above asking, and the average sale landed at 94% of its final list price. 32% of listings carried a price cut in May 2026.

This page tracks 10 monthly housing series for Merritt Island, FL — median sale price, ZHVI home value, inventory (active), median days on market, months of supply, homes sold, and more — sourced from Redfin, Zillow ZHVI, running from Aug 2016 through Jun 2026. Chart any of them below, switch between levels and year-over-year change, or add nearby Florida markets to compare side by side.