The typical home value in
Tropic
is projected to be
$1,006,250
for the month of
August.
July’s
finalized data reported the typical value of a home in the
neighborhood
to be
$1,550,000—up
13.35%
over the previous 12 months.
For comparison,
city-level
data pegged home values at
$396,000
in
Merritt Island
for the most recent reporting period.
That number is expected to float around
$378,500
in
August.
Tropic
had
5
new listings and
2
listings that went under contract in
July,
increasing
the area’s total available inventory to
11—up
10.0%
from the previous month. Inventory is projected to have further
increased
in
August.
The median listing price for homes in
Tropic
fell
34.55%
from
June
to
July,
bringing the current median listing price to
$1,800,000.
Based on projected data for
August,
listing prices may continue to
fall.
The number of days that homes have been on the market prior to going under contract
fell
year-over-year. In
July 2025,
the median time for a listed property to go pending was
117
days, compared to
133
days in
July 2024.
However, in recent months the median number of days from listed to pending appears to be
rising.
That trend is predicted to have carried through to this
August.
