Terrace Iii At Heritage Isle
Condos for Sale in Melbourne, FL

Terrace Iii At Heritage Isle is a condo community in Melbourne, Brevard County, where recent transaction volume is low — so the story here is about the individual unit, not a busy market.

Space Coast MLS sales records identify 18 homes in Terrace Iii At Heritage Isle Condo that have changed hands since 2011, built between 2006 and 2006 (median 2006), with a median living area of about 1,232 sq ft and a typical 2-bedroom, 2-bath layout; 100% 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.

Terrace Iii At Heritage Isle Condo is too small for its own price trend, so here is the market around it.

In ZIP 32940, 418 homes are on the market and 34% are under contract — a fast-moving corner of Melbourne.

Across Brevard County, 4,132 homes are active and 1,477 pending (26% under contract).

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.

ZIP and county figures describe the wider market, not Terrace Iii At Heritage Isle Condo specifically. Momentum Research analysis of MLS records.

Current MLS listings identify no specific community amenities, so we won't manufacture any. What that means practically: evaluate this purchase on the unit itself — layout, condition, updates, floor level, exposure — and on the condo association's financial health, reserves, and monthly dues, which you should request and read closely before writing an offer.

With just one closing in the window, price discovery is limited. There is no dense set of recent sales to lean on, so both sides should expect to justify value through the condition and features of the actual unit rather than pointing to a run of comparable transactions.

In a low-volume condo market, the edge comes from digging into the details most listings gloss over: the association's budget and reserves, dues and any pending assessments, and how a specific unit compares to the handful of relevant sales. We'll tell you plainly when a unit is priced ahead of what the current data supports — and when it isn't.

Listings in this community report association dues of about $452 per month ($5,424 a year) — the median AssociationFee across 18 MLS records, normalised to a monthly figure; most are billed quarterly. 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, 2026-10.

Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.