South Lakes
Homes for Sale in Melbourne, FL

South Lakes Phase II is a small, amenity-free residential pocket in Melbourne where pricing turns almost entirely on the individual home. With a limited number of recent closings, each new sale carries outsized weight in setting the local comp picture.

Space Coast MLS sales records identify 85 homes in South Lakes that have changed hands since 2004, built between 1990 and 1997 (median 1994), with a median living area of about 1,602 sq ft and a typical 3-bedroom, 2-bath layout; 100% are single-family homes. 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.

County records show 3 qualified sales in South Lakes across 2024–2025 (2 in 2024, 1 in 2025), median $300,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.

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.

South Lakes is too small for its own price trend, so here is the market around it.

In ZIP 32901, 126 homes are on the market and 21% are under contract — a steady corner of Melbourne.

Across Brevard County, 4,089 homes are active and 1,281 pending (24% under contract).

In ZIP 32901 (Melbourne), 34 homes closed in the last 12 months at a median of $276K ($180/sq ft), with a median 52 days on market. Right now 3 active and 1 pending listings put supply at about 1.1 months — a balanced market. See the live ZIP 32901 housing market and the Brevard County market.

ZIP and county figures describe the wider market, not South Lakes specifically. Momentum Research analysis of MLS records.

No community amenities show up in the current MLS listings, which means there is no pool, clubhouse, or shared feature adding a baseline of value. That cuts both ways: no recurring amenity-tied costs to underwrite, but also nothing to buffer a dated or deferred-maintenance home. The spread between homes here is best explained by condition and updates rather than by any location-based amenity.

With only three closings in the window and a median of 165 days on market, comparable data is thin and slow to refresh. That makes an on-the-ground read essential — a single motivated seller or a single renovated home can skew what the numbers appear to say. Treat the median as a starting point, not a fixed value.

Thin comp data and long marketing times are exactly where local judgment earns its keep. We read each recent closing in context, price to the reality of a 165-day market, and tell a seller plainly what condition work will and won't move the needle. For buyers, we use the slow pace to structure terms in your favor rather than chasing a listing.