Vero Beach Barrier Island Condos Real Estate Market Report June 2016

The Vero Beach real estate market report for condos on the Barrier Island In June 2016 shows that prices have stabilized while inventory remains above 2015 levels. This indicates supply is higher than demand although the lack of inventory in some desired price ranges and locations continue to push prices higher. However, sales remain low and are at the same levels as last year.

Vero Beach Real Estate Market Highlights – June 2016


In June 2016, 24 condos were sold on the island in Vero Beach, fewer than in May and as many as the same period in 2015. Despite the increase in the inventory, we have not seen more sales this year compared to 2015.

Vero Beach Island Condos Market Statistics - For Sale vs Sold - June 2016 DATA SOURCE: MLS data as of 7/2/2016. Data believed to be accurate but not guaranteed.

The above chart shows that although the inventory of available condos for sale has been declining the last 4 months as sales slightly increased a good sign for the market.

Vero Beach Real Estate Market Statistics – June 2016

Market Statistics - Vero Beach Island Condos June 2016 DATA SOURCE: MLS data as of 7/2/2016. Data believed to be accurate but not guaranteed.

Notes: (1) The average of all 12 months of inventory, (2) The average of all 12 months of List Price to Sale Price Ratio & (3) The average DOM in 12 month period.

This month, the Absorption Rate or months of remaining inventory is 6.0 for condos on the barrier island in Vero Beach indicating that the market is slowing down as we have entered the summer doldrums but we are still experiencing a seller’s market in some areas and price ranges. The list to sale ratio of 91.1% is almost at par with the average indicating that demand is steady and buyers willing to make offers closer to the asking prices. The 196 DOM is slightly above average suggesting that demand is steady for condos on the Vero Beach barrier island.

Vero Beach Real Estate Market Analysis – June 2016


The median sold price for Vero Beach Barrier Island condos in April was $288,000 with an average of 196 DOM. The sale prices are still appreciating and increased by 16.5% compared to the same period in 2015 as the following chart shows.

Market Statistics - Island Condos Median of Sale Prices - June 2016 DATA SOURCE: MLS data as of 7/2/2016. Data believed to be accurate but not guaranteed.

A Price Range analysis of condos sold versus condos that failed to sell (expired) and the days these properties were on the market (DOM) gives us a good indication for the overall health of the real estate market for condos on Vero Beach barrier island (zip code 32963) for various price ranges.

The chart below presents the number of condos Sold vs. Expired (failed to sell) the last 12 months and the Days On The Market (DOM) of condos sold.

Market Statistics - Island Condos - Sold vs Expired and DOM - June 2016 DATA SOURCE: MLS data as of 7/2/2016. Data believed to be accurate but not guaranteed.

Condos priced from $600,000 to $650,000 were sold the fastest with an average of 74 DOM.

More condos failed to sell (expired) than sold above $2M price range. Condos in the $900,000 to $2M took the longest to sell with an average of 229 DOM.

Sales activity has been steady the last 3 months with higher volumes than the beginning of the year promising a good summer season for condo sales on the island .

Detailed Real Estate Market Reports for Condos on the Vero Beach barrier island (zip code 32963) are produced on a monthly basis. If you would like to receive these real estate market reports, fill in the request form below with your email address. These reports will be sent to your email the beginning of the each month with market statistics of the previous month.

Detailed market analysis report specific to each area are available upon request. A complimentary no-obligation property price analysis consultation is also available for sellers. Use the request form below and indicate that you wish to receive the detailed report or the no-obligation price analysis consultation.

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