Vero Beach Barrier Island Single Family Real Estate Market Report June 2016

In June 2016 the Vero Beach Real Estate Market for single family homes on the island was not as active as in May as sales slightly decreased and the lack of inventory in the $600,000 to $650,000 price ranges continues to affect the market. Sale prices have stabilized and continue to rise but the price increases are affecting sales as some buyers are priced out of that market in some of the price ranges that are in demand.

Vero Beach Real Estate Market Highlights – June 2016


Sales were subdued in June 2016 with only 34 single family homes that were sold on the island in Vero Beach, 28% fewer than the same period in 2015.

Vero Beach Island Single Family 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 chart above shows that the inventory of available homes has increased the last few months. We need to see more homes to comer to the market in the $600,000 to $650,000 price ranges where demand is high to keep prices up.

Vero Beach Real Estate Market Statistics – June 2016

Market Statistics - Vero Beach Island Single Family 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.

The Vero Beach real estate market report for June 2016 shows that the increase in the inventory we saw the last few months has not substantially helped sales. The List to Sale price ratio of 92.8% is slightly above the average and increased the last few months indicating that buyers are willing to make offers closer to asking prices.

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

The Absorption Rate, or months of inventory of 9.8 indicates that we are still in a buyer’s market.

Vero Beach Real Estate Market Analysis – June 2016


Sale prices of single family homes on the island have been fluctuating the last 12 months. However, the median of sale prices have stabilized and increased by 32% compared to the same period last year as the following charts shows.

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

Homes in the $450,000 to $550,000 price range were sold the fastest with an average of 112 DOM and homes priced above $2M took the longest to sell with 281 DOM. Three homes that were sold in the $200K to $250K range with an average of 360 DOM have skewed the chart.

There are plenty of homes for sale in high price ranges, but the demand is not keeping up with the supply.

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