Colony Park
Homes for Sale in Merritt Island, FL
True comps, carrying-cost math, and listings before the portals.
Photo via Space Coast MLS
Colony Park sits in that unleveraged part of Merritt Island where original 1960s-era cottages trade alongside occasional newer flips and tear-down-rebuild projects. The median home is a 990-square-foot concrete-block ranch built in 1980—square footage and condition are your two pricing levers. With construction dates spanning six decades, you are essentially buying by the remodel, not the address.
Two active listings against 115 homes yields twelve months of supply, a deep buyer's market. The 35.7 percent homestead share skews lower than most Space Coast owner-occupied neighborhoods, which tilts the stock toward rentals and investor holds. Expect longer negotiation runways and condition-sensitive pricing; sellers here are contending with a surplus inventory of similarly modest footprints and mixed updates.
Colony Park right now
🟢 Buyer-leaning market. 12.0 months of supply and 33% of the inventory already under contract give buyers above-average negotiating leverage.Why it matters: months of supply is how long today's inventory would last at today's sales pace; under-contract share is the portion of homes for sale that already have a buyer.Momentum Research analysis of Space Coast MLS records, as of July 15, 2026. Confidence: Low (3 active and pending listings, 0 closed sales in 12 months).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated July 15, 2026 · Live data: Space Coast MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
Colony Park is a sixty-year-old working neighborhood on Merritt Island built around compact masonry ranch homes, most under 1,000 square feet, with no common amenities and a long renovation curve.
Pre-construction details are compiled from public records, builder announcements and builder listings, and are subject to change without notice; figures are deemed reliable but not guaranteed. Momentum Research figures are our own analysis. This page describes homes, pricing and community attributes, not residents.
The setting & the homes.
Aerial and on-site photos of Colony Park. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
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Colony ParkPhotos from Space Coast MLS listings in Colony Park; content deemed reliable but not guaranteed.
Who Colony Park is best for.
Best for
- Cash or renovation-loan buyers with construction literacy who see upside in a sub-1,000-square-foot remodel.
- Small-footprint investors comfortable holding through longer lease-up cycles in a lower-homestead neighborhood.
- Buyers who prioritize central Merritt Island access and lot control over neighborhood amenities or resale ceiling.
Probably not for
- Turnkey buyers expecting updated kitchens, modern HVAC, and move-in condition at the median price point.
- Buyers counting on rapid appreciation or short hold periods in a market currently showing twelve months of supply.
- Anyone needing more than three bedrooms or seeking a neighborhood with shared amenities and high owner-occupancy.
The market around Colony Park
Colony Park is too small for its own price trend, so here is the market around it.
Across Brevard County, 3,585 homes are active and 1,397 pending (28% under contract).
ZIP and county figures describe the wider market, not Colony Park specifically. Momentum Research analysis of MLS records.
Housing distress & ownership in Colony Park, Merritt Island
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Based on information from the Space Coast MLS for the period October 2026 through October 2026. Deemed reliable but not guaranteed.
Homes For Sale Right Now in Colony Park
Live MLS inventory for Colony Park. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active and pending Colony Park listings as of 2026-10-09, priced high to low. Based on information from the Space Coast MLS for the period %s through %s. Tap any home to ask about it.
Colony Park on the map.
Every active, pending, and recently sold home, plotted. Toggle the layers and tap a home for the details.
Listing locations from Space Coast MLS. Map data © OpenStreetMap, tiles © CARTO.
Schools
- Brevard County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Carroll · Elementary
- Jefferson · Middle
- Merritt Island · High
Zoned schools reflect the assignments reported on recent Colony Park listings and can change; always confirm with Brevard County Public Schools for a specific address.
Buying with schools in mind? We can confirm the exact zoned schools for any Colony Park address.
Recent Developments in Colony Park
Development, infrastructure, retail, and school activity affecting Colony Park, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated October 2026.
- October 2026Infrastructure
Brevard County Brightline station fully funded with $57 million federal grant
The planned Brightline station in Cocoa, near State Road 528, is now fully funded after a federal grant of about $57 million. Cocoa will own the station and Brightline will operate it, linking Cocoa and Port Canaveral to South Florida destinations. No construction start date has been set, and officials expect to release more details in early 2027.
What it may mean for the marketA passenger rail stop near SR 528 would add a regional transit option for commuters and visitors traveling between the Space Coast and other Florida metros. The site is about 6 miles south of Colony Park.
Source: FOX 35 Orlando - September 2026Civic
Space Force plans laser counter-drone defenses at Space Coast launch sites
Space Launch Delta 45 plans to deploy counter-drone technology, including lasers, to protect launch pads and critical infrastructure at Cape Canaveral and nearby facilities. Cost and operational date were not disclosed, and officials have not confirmed whether it will extend onto Kennedy Space Center property.
What it may mean for the marketAdded security investment at launch facilities reinforces the base's role as a long-term anchor for aerospace employment in the region. The site is about 8 miles east of Colony Park.
Source: FOX 35 Orlando - September 2026Parks & Amenities
1963 state lease limits redevelopment of Titusville marina district
A state lease signed in 1963 restricts how Titusville can develop its marina district near Sand Point Park, and changes require state approval. The mayor wants a year-round waterfront destination modeled on Cocoa Village, with options including boat slips, tours, restaurants, shops and family attractions. No timeline or cost has been published, and community meetings are planned over the coming months.
What it may mean for the marketIf the lease is amended, added waterfront dining and attractions could expand recreation and retail access for northern Brevard. The project is about 11 miles northwest of Colony Park, elsewhere in Brevard County.
Source: FOX 35 Orlando - July 2026Retail & Dining
Lakeside Social at Viera Town Center to bring a new waterfront community gathering place to Viera
The Viera Company, in partnership with Rogue Wave Hospitality Group, is opening Lakeside Social at Viera Town Center, a waterfront venue featuring a wave-shaped central bar, a boathouse-style bar, and a curated food vendor park. A soft opening was set for early June 2026, with a grand opening celebration over Fourth of July weekend 2026.
What it may mean for the marketA new waterfront food, bar, and entertainment venue adds dining and gathering capacity to Viera Town Center and broadens the local commercial mix. The project is about 15 miles south of Colony Park, elsewhere in Brevard County.
Source: Viera - June 2026Development
Orlando Health announces plans to open a new hospital in Viera
Orlando Health announced a seven-story, 240-bed hospital along with a three-story, 60,000-square-foot medical office building on a 40-acre health and wellness campus in Viera, between Lake Andrew Drive and I-95 south of Viera Boulevard. Construction was expected to begin in June 2026, with opening targeted as early as fall 2027.
What it may mean for the marketA new hospital and medical office campus would add major healthcare infrastructure and construction activity to the Viera area. The project is about 16 miles south of Colony Park, elsewhere in Brevard County.
Source: ClickOrlando - May 2026Builder Activity
Builder charts course for Cape Canaveral homes with rooftop terraces to watch launches
Miami-based EverHome Living plans 94 three-story townhouses off Astronaut Boulevard along the Banana River in Cape Canaveral, with prices starting around $650,000 and units of roughly 2,800 square feet. Groundbreaking is targeted for the end of 2026, with sales beginning in early 2027.
What it may mean for the marketA new townhouse community would add for-sale housing supply along the Banana River in Cape Canaveral. The project is about 8 miles southeast of Colony Park, elsewhere in Brevard County.
Source: Homes.com News
Summaries reflect public reporting and official sources linked above as of the dates shown. Project details, timelines, and approvals can change. Commentary on potential market effects is general observation, not investment advice or a prediction for any specific property. For the freshest items across the whole region, see This Week in Northeast Florida.
The Colony Park buying strategy.
If we were buying in Colony Park today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Use your leverage. With inventory sitting, there is room to negotiate on anything dated or overpriced and to ask for repairs or a rate buydown.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Colony Park.
Six decades of bones
Colony Park's 115 homes were platted starting in 1960, with steady infill through the early 1980s and the occasional new build or replacement home as late as 2022. The median year built is 1980; the median living area is 990 square feet. That compact median square footage reflects the neighborhood's original single-story floor plans—two-bedroom, one-bath or three-bedroom, one-and-a-half-bath configurations on slab foundations.
There are no HOA amenities, no pool, no clubhouse. The appeal is proximity to central Merritt Island services and a flat lot you can customize. The wide construction date range means one home may be all-original with jalousie windows while the next has been gutted to the studs. Home inspections and permit research are non-negotiable.
The homestead share of 35.7 percent is well below Brevard's typical owner-occupant range, pointing to a rental-investor presence that softens demand elasticity. With twelve months of supply on the market and only two active listings, volume is thin but leverage is firmly on the buyer's side. Offers can be deliberate, contingencies standard, and inspection repair requests taken seriously.
The location and the amenities are priced into every listing in Colony Park. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
Colony Park deals close on due diligence, not emotion. Our agents walk homes with contractors, read permits, distinguish between cosmetic and structural updates, and know which 1960s-era systems are obsolete versus serviceable. In a thin, slow-turn market like this, we write offers that reflect actual condition and replacement cost—and we will tell you when the juice is not worth the squeeze.
Colony Park in 15 seconds.
HOA, CDD & Fees
- HOA status not on record. Verify any dues before you offer
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Colony Park buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Colony Park sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Colony Park, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Colony Park home worth?
Get a no-obligation home value based on real comparable sales in Colony Park, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See homes for sale in Colony Park on the map →
Frequently Asked Questions
Is Colony Park a buyer's or seller's market right now?
How many homes are in Colony Park?
What share of Colony Park is owner-occupied?
When were the homes in Colony Park built?
Who is the best real estate agent for Colony Park?
How do I find a top Merritt Island real estate agent who knows Colony Park?
Can Momentum Realty connect me with an agent for Colony Park?
Should you buy in Colony Park?
An honest fit check. We will tell you when it is not your community.
Nearby Communities
Explore more neighborhoods near Colony Park with Momentum Realty’s local guides.
Data sources & freshness
| Live listings | Space Coast MLS, refreshed twice daily (last: October 9, 2026) |
| Housing stock & ownership | Florida DOR assessment roll (community parcel extract) |
| Under-contract shares | Space Coast MLS records, as of 2026-07-12 |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Space Coast MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
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The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the Space Coast MLS member average and 8 days faster, and we’ll price yours against live local comps.
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