Grand Isle
Homes for Sale in Melbourne, FL
All 730 homes for sale in Melbourne, FL · median $398,500 · 279 homes for sale in 32940 · Brevard County homes for sale
True comps, carrying-cost math, and listings before the portals.
Market Heat
Photo via Space Coast MLS
Over the 12 months ending 2026-09-20, 18 recorded sales closed at a median of $407,500, $219 per square foot, a median 85 days on market, sellers accepting 94% of original asking. Homes listed or recently sold were built 2000–2003; 12 of 12 report an HOA (median $307/mo); none of the 12 geocoded homes sit in a FEMA special flood hazard zone (median elevation 29 ft). At the median price and Brevard County's FY2025-26 rate of 15.6 mills, annual property tax runs about $6,360 ($5,740 with the full homestead exemption).
Part of the Viera master-planned community in Melbourne, FL — see all Viera homes for sale (116 listings across 69 villages and sections in the MLS).
In Grand Isle Phase 1, part of the Viera area of Melbourne, price is doing the talking. With a median around $410,000 and a median close to $222 per square foot, what you pay here tracks square footage and condition more than any single amenity — the current MLS snapshot identifies no community amenities to bake into the number. The spread is condition-driven: updated, move-in-ready homes command their price, while anything needing work has to earn a discount.
The posture right now favors the patient buyer. Homes are sitting a median of 107 days before closing, and prices are off 4.8% year over year, so sellers who price to yesterday's comps are watching listings age. Only 17 closings sit in the current window, which is a thin dataset — one or two atypical sales can move the median. Sellers should price to the market as it is today, not last year; buyers have room to negotiate but should not mistake slow days for a distressed community.
Figures in this note are as of July 15, 2026. The live market numbers elsewhere on this page update nightly and are newer.
Grand Isle right now
🟡 Off the recent peak. The trailing-12-month median ($408K) is down 7.0% from the prior 12 months ($438K) and up 123% since 2012. With about a dozen sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level Space Coast MLS closed sales, 12-month windows ending September 20. Confidence: Medium (18 and 6 sales in the two windows).
Jump to: Price history & scorecard · Homes for sale · Schools · FAQ
· Updated November 7, 2026 · Live data: Space Coast MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
Nearby homes for sale
No active listings inside Grand IsleHomes for Sale in Melbourne, FL right now. These are the 6 closest homes on the market, by straight-line distance from the community's center; some may sit just outside its boundary.
Listing data from the MLS feeds named on each listing page; deemed reliable but not guaranteed. Refreshed nightly.
The 60-Second Overview
Grand Isle market snapshot (as of September 20, 2026): the median sale price is about $408K ($219 per sq ft over the trailing 12 months of closed sales), and a median 86 days on market for closed sales. The trailing-12-month median is down 7% from the prior 12 months and up 123% since 2012, computed from record-level Space Coast MLS closed sales (18 closings in the current window).
In ZIP 32940 (Melbourne), 1,061 homes closed in the last 12 months at a median of $405K ($219/sq ft), up 0.4% year over year, with a median 40 days on market. Right now 150 active and 54 pending listings put supply at about 1.7 months — a healthy market. See the live ZIP 32940 housing market and the Brevard County market.
County records show 11 qualified sales in Grand Isle across 2024–2025 (8 in 2024, 3 in 2025), median $432,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Grand Isle is a community of 188 homes in Melbourne, Brevard County, built between 2000 and 2005 (median 2002.0), with a median living area of about 2,555 square feet. 83% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Grand Isle Phase 1 is a small, price-defined pocket of Viera in Melbourne where the value proposition is the home itself — square footage and finish level — rather than shared amenities, none of which show up in current listings.
The setting & the homes.
Aerial and on-site photos of Grand Isle. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
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Grand IslePhotos from Space Coast MLS listings in Grand Isle; content deemed reliable but not guaranteed.
Who Grand Isle is best for.
Best for
- Buyers in the low-$400s range who want a Viera location and can wait out a slow market for the right condition
- Value-focused buyers willing to negotiate against 107 median days on market
- Long-hold owners comfortable with a market that has gained 125% since 2012 but is soft year over year
Probably not for
- Sellers who need to move quickly and expect a fast close
- Buyers who want shared amenities, since none appear in current listings
- Anyone anchoring to a single median in a market with only 17 recent closings
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending September 20 of each year, from record-level Space Coast MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($408K) IS the median in the snapshot above, and the move from 2025 ($438K) IS the -7.0% one-year change.
Windows contain 6 to 23 sales each (18 in the current window); every figure carries its sample size, and thin markets swing on single closings. Based on information from the Space Coast MLS for the period 2004 through 2026. Deemed reliable but not guaranteed.
34% of homes for sale in ZIP 32940 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-09-20).
Grand Isle Market Scorecard
Grand Isle is currently a balanced market..
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Live data: Space Coast MLS, refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Grand Isle 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 contributors.
The Grand Isle buying strategy.
If we were buying in Grand Isle 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.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
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 Grand Isle.
A thin, slow market carrying long-term gains
Two things sit in tension here. The near-term trend is soft: a 4.8% year-over-year decline and 107 median days on market say this is not a place where you list on Friday and field offers by Monday. Yet the market heat score reads 8, and the longer arc is strong — values are up 125% since 2012. That combination usually means real underlying demand meeting buyers who are now more selective on price and condition.
Treat the small closing count with respect. Seventeen sales is enough to sketch a picture but not enough to draw a hard line, so the median is a starting point, not a verdict on any specific street or floor plan. Pricing here rewards accurate comps and honest assessment of a home's condition over broad assumptions.
The location and the amenities are priced into every listing in Grand Isle. The deal is won or lost on condition, the comps, and the renovation math.
Momentum Buy Score.
Our proprietary 0 to 10 read across the factors that decide how a home in Grand Isle buys, holds, and resells. Momentum Research; not an appraisal.
Momentum Intelligence Scores are our proprietary, qualitative assessment on a 0 to 10 scale, built from the record-level market data on this page. They are a framework for comparing communities, not a guarantee of future value and not advice on a specific home; unlike an automated value estimate they do not price your home, they grade the community on evidence you can inspect. Composite is the plain average of the 4 factors (6.7). Basis: Long-Term Appreciation +123% since 2012; Recent Direction -7.0% year-over-year; Owner Commitment 83% owner-occupied; Pricing Power 94.5% sale-to-list. Refreshed with each data update.
Why work with Momentum here
A thin dataset and a slow-days market is exactly where a comp-by-comp read beats a headline number. We price to condition and to the handful of relevant sales rather than to a stale median, we know how long is too long to sit in Viera right now, and we will tell you plainly when a home is priced ahead of the current market — on either side of the deal.
Grand Isle in 15 seconds.
What it really costs to own in Grand Isle
The parts of the monthly number a mortgage calculator leaves out, from the tax roll, the MLS, Citizens and FEMA. Property facts only.
| HOA dues | Median $308/month across 12 MLS listings (most billed monthly; 2026-11-07). Dues cover what the documents say they cover; ask for the budget and reserve study. |
|---|---|
| Home and flood insurance | The average Citizens Property Insurance premium in Brevard County is $2,348/yr (6,986 policies, Citizens detail by county, April 2026); private-market quotes depend on roof age, wind mitigation and construction. |
Email me new listings in Grand Isle
One e-mail a day, only when a home lists here, with price, beds, baths and a link to every listing. Straight from the MLS feed; no account needed.
Ask an agent about Grand Isle
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Grand Isle will answer, and the answer is published on this page for the next buyer.
HOA, CDD & Fees
- HOA dues reported around $308/month (about $3,690/yr) · median of 12 MLS listings, most billed monthly
- Any club/amenity membership is billed separately
Listings in this community report association dues of about $308 per month ($3,690 a year) — the median AssociationFee across 12 MLS records, normalised to a monthly figure; most are billed monthly. Dues change with budgets and can differ by section or product type; confirm the current figure with the association before you offer. Source: MLS listing records, 2026-11.
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 Grand Isle 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 Grand Isle sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Grand Isle, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Grand Isle home worth?
Get a no-obligation home value based on real comparable sales in Grand Isle, 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 all homes for sale in Melbourne →
| Location | Melbourne, Brevard County, FL · ZIP 32940, 32955 |
|---|---|
| Homes in the community | 188 (FL DOR 2025 assessment roll) |
| Years built | 2000–2005 (median 2002.0) |
| Typical living area | 2,555 sq ft (median) |
| Home types (current listings and sales) | single-family 100% |
| Amenities listed by sellers | Gated, Tennis Court(s), Clubhouse, Fitness Center, Pickleball, Security Gate |
| Sale prices, last 12 months | $407,500 median across 18 closed sales · $219 per sq ft · -7.0% vs the prior 12 months |
| Days on market (closed sales) | 85 median |
| For sale right now | 0 active, 0 pending |
| Owner-occupied (homestead) share | 83% |
Data as of September 20, 2026. Based on information from the Space Coast MLS for the period 2004 through 2026; housing-stock figures from Florida Department of Revenue public records. Market figures describe homes, not residents. Cite as: Momentum Realty, “Grand Isle key facts,” movewithmomentum.com/neighborhoods/grand-isle-phase-1-viera-n-pud-parcel-u-x, data as of September 20, 2026.
Housing distress & ownership in Grand Isle Phase 1 Viera N Pud Parcel U X, Melbourne
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 September 2026 through September 2026. Deemed reliable but not guaranteed.
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Melbourne guides & data
- Market data
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- Flood zones
- Property taxes (Brevard County)
- Homestead exemption (Brevard County)
- Home insurance cost
Florida buyer guides
- Florida home insurance rates by county
- Florida property tax by county
- Florida property tax calculator
- What flood zone X means
- The 4-point inspection, explained
- Florida flood insurance calculator
- Florida housing market map
- Interactive housing market map (county, ZIP and community)
- Save Our Homes tax estimator
- How to stop a foreclosure in Florida
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Streets in this community
Street-level pages: every home on record, what sold and what is for sale on each street.
- Lago Mar Drive (43 homes on record)
- Boca Rio Drive (39 homes on record)
- Timacuan Drive (37 homes on record)
- Grand Isle Boulevard (32 homes on record)
- Keys Gate Drive (28 homes on record)
Recent Developments in Grand Isle Phase 1 Viera N Pud Parcel U X
Development, infrastructure, retail, and school activity affecting Grand Isle Phase 1 Viera N Pud Parcel U X, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated November 2026.
- October 2026Retail & Dining
Margarita Island opens in the former El Chico building on Evans Road, Melbourne
The Mexican restaurant chain opened at 1751 Evans Road in Melbourne, its fourth Brevard location and seventh in Florida. It offers a full menu and a full-service bar.
What it may mean for the marketA new sit-down dining option adds to restaurant choices along the Evans Road area of Melbourne. The project is about 8 miles south of Grand Isle Phase 1 Viera N Pud Parcel U X, elsewhere in Brevard County.
Source: Space Coast Daily - October 2026Market
Brevard September home sales: single-family slows while condos and townhomes gain
Space Coast Association of Realtors data show the September single-family median price at $380,000, up 0.5%, with closed sales down 2.5% to 818 and 3.5 months of supply. Condo and townhouse median price rose 6.9% to $272,500, with 172 closed sales and 5.9 months of supply.
What it may mean for the marketTighter single-family supply and a firmer condo and townhouse segment point to differing inventory conditions across Brevard housing types. The site is about 3 miles west of Grand Isle Phase 1 Viera N Pud Parcel U X.
Source: Space Coast Daily - 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 12 miles northwest of Grand Isle Phase 1 Viera N Pud Parcel U X.
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 4 miles northwest of Grand Isle Phase 1 Viera N Pud Parcel U X, 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 5 miles west of Grand Isle Phase 1 Viera N Pud Parcel U X, elsewhere in Brevard County.
Source: ClickOrlando - May 2026Infrastructure
Ellis Road widening from John Rodes Boulevard to Wickham Road advances to construction
FDOT's project to widen Ellis Road from two to four lanes over about 1.8 miles between John Rodes Boulevard and Wickham Road in the Melbourne area had a construction letting scheduled for May 20, 2026, at an estimated construction cost of $57 million. The work includes new sidewalks, buffered bicycle lanes, new traffic signals, and drainage improvements.
What it may mean for the marketWidening this corridor would increase road capacity and add sidewalks and bike lanes across a key West Melbourne and Melbourne connection. The project is about 9 miles south of Grand Isle Phase 1 Viera N Pud Parcel U X, elsewhere in Brevard County.
Source: CFL Roads (FDOT)
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.
Frequently Asked Questions
What is the median home price in Grand Isle?
How long do homes in Grand Isle take to sell?
How many homes are in Grand Isle?
What share of Grand Isle is owner-occupied?
When were the homes in Grand Isle built?
Have Grand Isle home prices gone up?
Who is the best real estate agent for Grand Isle?
How do I find a top Melbourne real estate agent who knows Grand Isle?
Can Momentum Realty connect me with an agent for Grand Isle?
Where is Grand Isle, and what county is it in?
Is Grand Isle a good place to live?
Should you buy in Grand Isle?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | Space Coast MLS, refreshed twice daily (last: November 6, 2026) |
| Community market stats | Space Coast MLS closed sales, 12-month windows ending September 20, 2026 |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (3 streets, ZIP 32940/32955)) |
| Under-contract shares | Space Coast MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2004 (223 transactions analyzed) |
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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See how Grand Isle Phase 1 Viera N Pud Parcel U X fits the bigger picture — live prices, inventory, and Momentum Scores: