Vero Beach Barrier Island Single Family Real Estate Market Report January 2017

The Vero Beach Real Estate Market for single family homes on the island in January 2017 remains challenging as we are seeing a softening market in previously strong areas and price points despite the recent increase in market activity. Although sales increased this month, pending sales remain flat indicating that pricing may be getting ahead of the curve as sale prices slightly decreased compared to 2016.

Vero Beach Real Estate Market Highlights – January 2017


Sales remained flat in January 2017 and at almost the same levels as the last 3 years as shown in the chart below. There were 25 single family homes sold on the island 8.7% more than the same period in 2016.

Vero Beach Island Single Family 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 increase in sales this month is encouraging amid a softening market. . There are many homes available for sale in high price ranges but demand is not keeping up with the supply.

Vero Beach Real Estate Market Statistics – January 2017

Market Statistics - Vero Beach Island Single Family 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.

The Vero Beach real estate market report for January 2017 shows that although inventory levels are higher than the last 2 years sales of single family homes on the island remain low! The List to Sale price ratio of 92.3% is slightly below and declining indicating that buyers have started to be more hesitant to make offers close to the listing price.

The Days On the Market (DOM) is slightly below average indicating steady demand for single family homes on the island.

The Absorption Rate, or months of inventory of 15.8 indicates that we are still in a buyer’s market.

Vero Beach Real Estate Market Analysis – January 2017


Sale prices of single family homes on the island have stabilized and slightly decreased by 3.5% compared to the same period in 2016 as the following charts shows.

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

An analysis on Price Ranges of homes sold versus homes that failed to sell (expired) and the days these homes were on the market (DOM) gives us a good indication for the overall health of the real estate market on the barrier island (zip code 32963) in Vero Beach. The Vero Beach real estate market chart below presents the number of single family homes Sold vs. Expired (failed to sell) the last 12 months and DOM of homes sold.

Market Statistics - Island Single Family - Sold vs Expired and DOM - January 2017 DATA SOURCE: MLS data as of 2/2/2017. Data believed to be accurate but not guaranteed.

More homes sold than expired in some price ranges but the trend is changing on higher price ranges. Homes in the $250,000 to $300,000 and in the $450,000 to $550,000 price rages were sold the fastest with an average of 90 and 109 DOM respectively.

The real estate market for single family homes on the barrier island remains soft despite the recent increase in sales.

Detailed Real Estate Market Reports for single family homes in 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. Subscribe to the detailed market report below to see the hottest markets and price points.

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