Grand Isle
Homes for Sale in Melbourne, FL
All 714 homes for sale in Melbourne, FL · median $399,000 · 275 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 (-7% versus the prior year). Homes listed or recently sold were built 2000–2003; 12 of 12 report an HOA (median $307/mo). 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 (121 listings across 69 villages and sections in the MLS).
| 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 Phase 1 Viera N Pud Parcel U X key facts,” movewithmomentum.com/neighborhoods/grand-isle-phase-1-viera-n-pud-parcel-u-x, data as of September 20, 2026.
Last 30 days in Grand Isle: 1 closed sale (median $600,000). As of September 25, 2026, Listing data provided by the Space Coast Multiple Listing Service. Information is deemed reliable but is not guaranteed by the MLS to be accurate.
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.
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).
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· Updated September 26, 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 3.0 months — a balanced 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.
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.
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, tiles © CARTO.
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.
HOA, CDD & Fees
- HOA dues reported around $308/month (about $3,696/yr) · median of 144 MLS listings, most billed monthly
- Any club/amenity membership is billed separately
Listings in this community report association dues of about $308 per month ($3,696 a year) — the median AssociationFee across 144 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, 2026-09.
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 →
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: September 22, 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.
Own a home here?
You just read the data. Now see what your home is worth.
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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See how Grand Isle Phase 1 Viera N Pud Parcel U X fits the bigger picture — live prices, inventory, and Momentum Scores:
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