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

The Vero Beach Real Estate Market for single family homes the island in March 2017 was more active with more sales and higher prices than the same period on 2016. Pending Sales also jumped by 36% which is good news for the market moving forward.

Vero Beach Real Estate Market Highlights – March 2017


Sales increased by in March 2017 but there were still below the levels of the last 3 years as shown in the chart below. There were 30 single family homes sold on the island 20% more than the same period last year.

Vero Beach Island Single Family Market Statistics - For Sale vs Sold - March 2017 DATA SOURCE: MLS data as of 4/2/2017. Data believed to be accurate but not guaranteed.

The increase in sales this month and the jump in Pending sales 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 – March 2017

Market Statistics - Vero Beach Island Single Family March 2017 DATA SOURCE: MLS data as of 4/2/2017. 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 March 2017 shows that although inventory levels are healthy, sales of single family homes on the island are lagging the overall market. The List to Sale price ratio of 92.5% is slightly below and declining indicating that buyers came back as the market has stabilized.

The Days On the Market (DOM) is below average another indication of market stabilization for single family homes on the island.

The Absorption Rate, or months of inventory of 13 indicates that we are still in a buyer’s market.

Vero Beach Real Estate Market Analysis – March 2017


Sale prices of single family homes on the island have started to stabilize and increased by 9% compared to the same period last year and the median of sale prices was $660,000 as the following charts shows.

Market Statistics - Island Single Family Median of Sale Prices - March 2017 DATA SOURCE: MLS data as of 4/2/2017. 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 - March 2017 DATA SOURCE: MLS data as of 4/2/2017. 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 76 and 113 DOM respectively.

There are homes available for sale in some price ranges that previously were in high demand but sales for those are lagging this season.

Detailed Real Estate Market Reports for single family homes in Vero Beach Barrier Island (zip code 32963) are provided to my clients. These reports offer market insights and market statistics. If you are interested in Vero Beach real estate, use the request form below or call me at 772-532-0945.

For buyers I provide detailed market analysis specific to each area. For sellers, I can provide a complimentary no-obligation property price analysis consultation and use the request form below for your request.

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