Vero Beach Barrier Island Condos Real Estate Market Report January 2017

The Vero Beach real estate market for condos on the Barrier Island in January 2017 was a little more active with jump in pending sales compared to the same period last year. Sales slightly decreased but were counter balanced with the increase in Pending Sales which is good news for the market moving forward.

Vero Beach Real Estate Market Highlights – January 2017


In January 2017, 14condos were sold on the island in Vero Beach, fewer than in December and 18.3% fewer than he same period in 2016. The inventory of available condos for sale has remained fairly constant the last few months.

Vero Beach Island Condos Market Statistics - For Sale vs Sold - January 2017 DATA SOURCE: MLS data as of 2/2/2017. Data believed to be accurate but not guaranteed.

The above chart shows that the current inventory levels have not resulted in substantially more sales and it can be attributed to softening of the market..

Vero Beach Real Estate Market Statistics – January 2017

Market Statistics - Vero Beach Island Condos January 2017 DATA SOURCE: MLS data as of 2/2/2017. 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 10.8 for condos on the barrier island in Vero Beach indicating a buyer’s market. The list to sale ratio of 93.9% is considerably higher than the average, indicating that buyers may have decided to make a move and lock rates that will eventually rise later in 2017. The 162 DOM is almost at par with the average of 165 indicating steady demand.

Vero Beach Real Estate Market Analysis – January 2017


The median of sale prices for Vero Beach Barrier Island condos in January 2017 was $336,000 with an average of 162 DOM. The median of sale prices declined by 6.5% in January 2017 compared to the same period last year but the market is stabilizing as the following chart shows.

Market Statistics - Island Condos Median of Sale Prices - January 2017 DATA SOURCE: MLS data as of 2/2/2017. 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 - January 2017 DATA SOURCE: MLS data as of 2/2/2017. Data believed to be accurate but not guaranteed.

Condos priced from $600,000 to $650,000 were sold the fastest with an average of 99 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 245 DOM.

Although sales activity decreased in January, Pending Sales increased by 40% which is great news for the softening market and raises hope for a good 2017 season. .

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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