South Lakes Phase I Melbourne
Homes for Sale in Melbourne, FL
True comps, carrying-cost math, and listings before the portals.
South Lakes Phase I Melbourne trades at a $189 per-square-foot median, which is condition- and lot-placement driven in a neighborhood where maintenance-grounds HOA service keeps exteriors consistent but interior updates vary widely. The median price of $319,500 reflects homes that have seen kitchen and bath work; original-condition inventory typically prices below that mark, while turnkey renovations command a premium.
At 31 days on market and 3.4 months of supply, this is a balanced market with neither urgency nor stagnation. Four closings in the trailing window and two active listings suggest modest but steady turnover. Buyers have time to inspect and negotiate; sellers who price to condition and comp carefully will move property without lengthy holds.
South Lakes Phase I Melbourne right now
🟡 Balanced market. 3.4 months of supply and 0% of the inventory already under contract put buyers and sellers on roughly even footing.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: Medium (2 active and pending listings, 4 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
South Lakes Phase I Melbourne market snapshot (as of July 15, 2026): the median sale price is about $320K ($189 per sq ft over the trailing 12 months of closed sales), a median 31 days on market for closed sales, and 3.4 months of supply, a balanced market.
South Lakes Phase I Melbourne is a Melbourne subdivision with HOA-maintained grounds, trading in the mid-$300Ks on a per-square-foot basis that rewards updated interiors and penalizes deferred work.
The setting & the homes.
Aerial and on-site photos of South Lakes Phase I Melbourne. Swipe to explore the community.
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South Lakes Phase I Melbourne
South Lakes Phase I Melbourne
South Lakes Phase I Melbourne
South Lakes Phase I Melbourne
South Lakes Phase I Melbourne
South Lakes Phase I Melbourne
South Lakes Phase I Melbourne
South Lakes Phase I MelbournePhotos from Space Coast MLS listings in South Lakes Phase I Melbourne; content deemed reliable but not guaranteed.
Who South Lakes Phase I Melbourne is best for.
Best for
- Buyers with renovation budgets who can acquire below the median and capture equity through kitchen and bath updates
- Move-up buyers seeking HOA-maintained exteriors and a balanced market with negotiating latitude
- Investors comfortable underwriting rehab costs and holding through a modest-turnover cycle
Probably not for
- Buyers who need every home at every price to be turnkey and cannot budget for deferred maintenance
- First-time buyers stretching to the median without reserves for unexpected mechanical or cosmetic work
- Sellers expecting rapid appreciation or bidding wars in a market that rewards patience over urgency
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending July 15 of each year, from record-level Space Coast MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($320K) IS the median in the snapshot above.
Windows contain 0 to 8 sales each (4 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 %s through %s. Deemed reliable but not guaranteed.
South Lakes Market Scorecard
South Lakes is currently a balanced market (limited data). About 4.0 months of supply, a median asking price of $329,000.
Typical home value in the 32935 ZIP is $270,402, about 15.0% below the Florida norm (Zillow Home Value Index).
Go deeper: ZIP market scorecard · county scorecard · true cost calculator · affordability calculator.
Based on information from the Space Coast MLS for the period 2026 through 2026-08-23. Refreshed twice daily. Market metrics only; these describe homes for sale and recent sales, not residents.
Housing distress & ownership in South Lakes Phase I Melbourne, 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 August 2026 through August 2026. Deemed reliable but not guaranteed.
Homes For Sale Right Now in South Lakes Phase I Melbourne
Live MLS inventory for South Lakes Phase I Melbourne. 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 South Lakes Phase I Melbourne listings as of 2026-08-23, 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.
South Lakes Phase I Melbourne 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.
Life at South Lakes Phase I Melbourne
- Maintenance Grounds · reported on 1 of 4 listings
Community amenities as reported across Space Coast MLS listings in this community; deemed reliable but not guaranteed. Verify current amenities and access with the HOA.
Schools
- Brevard County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- University Park · Elementary
- Stone · Middle
- Palm Bay · High
Zoned schools reflect the assignments reported on recent South Lakes Phase I Melbourne 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 South Lakes Phase I Melbourne address.
Recent Developments in South Lakes Phase I
Development, infrastructure, retail, and school activity affecting South Lakes Phase I, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated August 2026.
- 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 10 miles north of South Lakes Phase I, elsewhere in Brevard County.
Source: Viera - June 2026Development
Proposed Brevard County USL soccer stadium would anchor new mixed-use development
Developers unveiled plans for an 8,000-seat professional soccer stadium along West NASA Boulevard by Melbourne Orlando International Airport as the home of the Space Coast Soccer Club. The complex would include restaurants and retail space, with a targeted opening in spring 2028 and about 20 to 25 professional matches per year.
What it may mean for the marketA new stadium and mixed-use complex would add restaurant, retail, and event space to this part of Melbourne and expand the local commercial and entertainment footprint. The site is about 2 miles south of South Lakes Phase I.
Source: FOX 35 Orlando - June 2026Development
West Melbourne's Space Coast Town Center Expands
The 225-acre Space Coast Town Center on U.S. 192 and Interstate 95 in West Melbourne is advancing a new phase called The Landing, which will feature a grocery anchor, retail shops, restaurants, and roughly 300 apartments. When fully built, the overall development is planned to include more than 2,000 residential units, 300 hotel rooms, office space, and retail.
What it may mean for the marketA new phase adds grocery, retail, dining, and apartment capacity to this mixed-use center and expands the local commercial base at a major highway interchange. The project is about 4 miles southwest of South Lakes Phase I, elsewhere in Brevard County.
Source: WFTV - 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 10 miles northwest of South Lakes Phase I, 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 site is less than a mile south of South Lakes Phase I.
Source: CFL Roads (FDOT) - 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 19 miles north of South Lakes Phase I, 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 South Lakes Phase I Melbourne buying strategy.
If we were buying in South Lakes Phase I Melbourne 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 South Lakes Phase I Melbourne.
What the market posture tells you
A balanced market at 3.4 months of supply means neither side holds leverage. Sellers cannot push aggressively; buyers cannot lowball and expect acceptance. Homes that show well and price to recent comps move in roughly a month. Inventory that lags on updates or asks above the neighborhood's per-foot ceiling will sit longer and require price correction.
The $189 median price per square foot is a blended figure. Homes with granite counters, updated flooring, and modern baths often trade higher; properties with original finishes from prior decades price below the median to account for buyer rehab budgets. If you are buying, know that condition drives the number more than lot size or street location within the phase.
Two active listings against four recent closings point to modest turnover. This is not a flipping hub or a high-churn neighborhood; it is a steady, unglamorous market where patient sellers and realistic buyers find each other without drama. The HOA handles grounds maintenance, which keeps curb appeal uniform but does not touch interiors, so due diligence on mechanical systems and deferred maintenance is non-negotiable.
The location and the amenities are priced into every listing in South Lakes Phase I Melbourne. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a balanced, condition-sensitive market like South Lakes Phase I, pricing strategy is everything. Momentum's agents comp properties by finish level and mechanical condition, not just by address, so you avoid the trap of paying a premium for a home that needs immediate capital investment or listing too high and watching days-on-market climb. We walk the interior with you, flag deferred maintenance before you write the offer, and price listings to move in the window the data predicts. No hype, no surprises.
South Lakes Phase I Melbourne in 15 seconds.
HOA, CDD & Fees
- Mandatory HOA. Confirm current dues
- 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 South Lakes Phase I Melbourne 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 South Lakes Phase I Melbourne sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in South Lakes Phase I Melbourne, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your South Lakes Phase I Melbourne home worth?
Get a no-obligation home value based on real comparable sales in South Lakes Phase I Melbourne, 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 South Lakes Phase I Melbourne on the map →
Frequently Asked Questions
What is the median home price in South Lakes Phase I Melbourne?
How long do homes in South Lakes Phase I Melbourne take to sell?
Is South Lakes Phase I Melbourne a buyer's or seller's market right now?
Who is the best real estate agent for South Lakes Phase I Melbourne?
How do I find a top Melbourne real estate agent who knows South Lakes Phase I Melbourne?
Can Momentum Realty connect me with an agent for South Lakes Phase I Melbourne?
Should you buy in South Lakes Phase I Melbourne?
An honest fit check. We will tell you when it is not your community.
Nearby Communities
Explore more neighborhoods near South Lakes Phase I Melbourne with Momentum Realty’s local guides.
Data sources & freshness
| Live listings | Space Coast MLS, refreshed twice daily (last: July 14, 2026) |
| Community market stats | Space Coast MLS closed sales, 12-month windows ending July 15, 2026 |
| Under-contract shares | Space Coast MLS records, as of 2026-07-12 |
| Historical depth | Closed-sale records back to 2004 (73 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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