Penn Place
Condos for Sale in Merritt Island, FL
All 209 homes for sale in Merritt Island, FL · median $525,000 · 38 condos for sale in Merritt Island · 117 homes for sale in 32952 · Brevard County homes for sale
True comps, carrying-cost math, and listings before the portals.
As of October 2026, the MLS records 3 closed sales in Penn Place Condo Ph Iii in Merritt Island, FL since 2013, the most recent in May 2024. Across Merritt Island as a whole, 263 homes closed in the last 12 months at a median of $440,000, 48 median days on market, with 66 homes for sale today. At that median and Brevard County's FY2025-26 rate of 15.6 mills, annual property tax runs about $6,870 ($6,240 with the full homestead exemption).
Part of Penn Place, Merritt Island, FL — see all Penn Place homes for sale (0 listings across 4 sections in the MLS).
Penn Place Condo Ph III is a condominium community in Merritt Island, and what sells here is the unit itself: condition, floor location, and interior updates carry the price far more than any community-wide feature. With no shared amenities identified from current listings, buyers are paying for the home and its position, not for a resort-style package.
For sellers, that means presentation is the lever you actually control — a clean, updated unit will separate itself. For buyers, it means read each listing on its own merits rather than assuming a community premium. We don't have a current price range or inventory count to lean on here, so treat any single listing's asking price as a starting point for its own condition, not a market signal for the whole phase.
Nearby homes for sale
No active listings inside Penn PlaceCondos for Sale in Merritt Island, 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
Penn Place Condo Ph III is a condo community in Merritt Island, in Brevard County, with no amenities identified from current MLS listings. It's a straightforward condo play in a central Space Coast location — value here rides on the individual unit rather than shared features.
Space Coast MLS sales records identify 13 homes in Penn Place Condo that have changed hands since 2013, built between 1981 and 1982 (median 1981), with a median living area of about 1,104 sq ft and a typical 2-bedroom, 1.5-bath layout; 85% are condominiums. Source: Space Coast MLS closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.
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.
Who Penn Place Condo is best for.
Best for
- Buyers seeking a lower-maintenance condo in a central Merritt Island location
- Value-focused buyers willing to weigh a unit on its own condition and updates
- Buyers who want proximity to Brevard's beaches, causeways, and employment corridors without paying for shared amenities
Probably not for
- Buyers who want resort-style amenities like a pool or clubhouse on site
- Buyers who don't want the monthly carry and rule set of a condo association
- Buyers set on a single-family home with a private yard
The market around Penn Place Condo
Penn Place Condo is too small for its own price trend, so here is the market around it.
In ZIP 32952, 145 homes are on the market and 26% are under contract — a steady corner of Merritt Island.
Across Brevard County, 4,132 homes are active and 1,477 pending (26% under contract).
In ZIP 32952 (Merritt Island), 261 homes closed in the last 12 months at a median of $327K ($237/sq ft), down 1.5% year over year, with a median 50 days on market. Right now 49 active and 15 pending listings put supply at about 5.6 months — a buyer's market. See the live ZIP 32952 housing market and the Brevard County market.
ZIP and county figures describe the wider market, not Penn Place Condo specifically. Momentum Research analysis of MLS records.
The Penn Place Condo buying strategy.
If we were buying in Penn Place Condo 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 Penn Place Condo.
A unit-driven condo in central Merritt Island
Because current listings show no community amenities, the value story is entirely about the individual condo: its condition, layout, floor, and any recent updates. That's a double edge — there's no pool or clubhouse to justify a fee premium, but there's also less shared cost complexity to underwrite. Ask early and specifically about the condo association, its fees, reserves, and rules; in any condo, those documents shape both your monthly carry and your resale.
Location is the through-line. Merritt Island sits central to Brevard County and the Space Coast, with reasonable reach to the beaches, the causeways, and the region's employment corridors. If you want a condo that's about position and price-per-condition rather than on-site lifestyle features, this fits. If shared amenities are on your must-have list, look elsewhere.
The location and the amenities are priced into every listing in Penn Place Condo. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a unit-driven condo like this, the win is in the details — reading the association's financials, comparing one unit's condition against another, and pricing to real, current conditions rather than assumptions. We work Brevard and the Space Coast every day, and we'll tell you plainly when a specific listing is worth its ask and when it isn't.
Penn Place Condo 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 Penn Place Condo 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 Penn Place Condo sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Penn Place Condo, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Penn Place Condo home worth?
Get a no-obligation home value based on real comparable sales in Penn Place Condo, 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 Merritt Island →
Should you buy in Penn Place Condo?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Under-contract shares | Space Coast MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2013 (3 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 Penn Place Condo Ph Iii fits the bigger picture — live prices, inventory, and Momentum Scores:
Common questions about Penn Place
Where is Penn Place?
Penn Place is a community in Merritt Island, Brevard County, Florida, ZIP 32952.
Are there homes for sale in Penn Place right now?
No active listings inside Penn Place at the last feed refresh. The nearest homes for sale, with distances from the community, are shown on this page and refreshed nightly.
Does Penn Place have an HOA or CDD?
No HOA is on record for Penn Place in our data. Verify dues, what they cover, and any special assessment for a specific address before you offer.
Answers are generated from county property records, MLS feeds and the figures on this page, as of the page date; deemed reliable but not guaranteed.
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