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

The Vero Beach Real Estate Market of single family homes on the island in November 2016 continue to soften despite the slight increase in sales compared to last month and the same period last year while sale prices are stabilizing .

Vero Beach Real Estate Market Highlights – November 2016


Sales increased in November 2016 as 31 single family homes were sold on the island in Vero Beach 14.8% more than the same period in 2015, as the following chart shows.

Vero Beach Island Single Family Market Statistics - For Sale vs Sold - November 2016 DATA SOURCE: MLS data as of 12/2/2016. Data believed to be accurate but not guaranteed.

The increase in the inventory we saw the last few months including this month may result in more sales as we are getting ready for the 2017 season. However, there are still plenty of homes for sale in high price ranges as supply outpaces the demand for those homes.

Vero Beach Real Estate Market Statistics – November 2016

Market Statistics - Vero Beach Island Single Family November 2016 DATA SOURCE: MLS data as of 12/2/2016. 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 November 2016 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 92.8% remains at high levels the last few months indicating that buyers want to take advantage of the low interest rates and are willing to close the deal.

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

The Absorption Rate, or months of inventory of 11.9 indicates that the buyer’s market continues.

Vero Beach Real Estate Market Analysis – November 2016


Sale prices of single family homes on the island have stabilized but decreased by 15% compared to the same period in 2015 as the following charts shows.

Market Statistics - Island Single Family Median of Sale Prices - November 2016 DATA SOURCE: MLS data as of 12/2/2016. 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 - November 2016 DATA SOURCE: MLS data as of 12/2/2016. Data believed to be accurate but not guaranteed.

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 87 and 112 DOM respectively. More sold than expired in most price ranges but the trend is changing on higher price ranges.

The real estate market for single family homes on the barrier island is soft.

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