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

The Vero Beach Real Estate Market of single family homes on the island in September 2016 was again subdued as sales declined by 3% compared to August and 6% compared to the same period last year. However, sale prices appear to have stabilized this month.

Vero Beach Real Estate Market Highlights – September 2016


Sales of single family homes on the barrier island declined in September 2016 as 27 single family homes were sold on the island in Vero Beach, 14% fewer than the same period in 2015 and 33% fewer than in August, as the following chart shows.

Vero Beach Island Single Family Market Statistics - For Sale vs Sold - September 2016 DATA SOURCE: MLS data as of 10/2/2016. Data believed to be accurate but not guaranteed.

The increase in the inventory we saw the last few months has not resulted in more sales so far this fall. There are plenty of homes for sale in high price ranges, but the supply outpaces the demand.

Vero Beach Real Estate Market Statistics – September 2016

Market Statistics - Vero Beach Island Single Family September 2016 DATA SOURCE: MLS data as of 10/2/2016. 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 September 2016 shows that increase in the inventory we saw the last few months has not resulted in substantially more sales so far this summer. The List to Sale price ratio of 92.5% and is decreasing indicating that demand is and buyers are hesitant to make offers.

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 12.6 indicates that we are still in a buyer’s market.

Vero Beach Real Estate Market Analysis – September 2016


Sale prices of single family homes on the island have stabilized but decreased by 14% compared to the same period last year as the following charts shows.

Market Statistics - Island Single Family Median of Sale Prices - September 2016 DATA SOURCE: MLS data as of 10/2/2016. 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 - September 2016 DATA SOURCE: MLS data as of 10/2/2016. 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 91 and 121 DOM respectively. More homes sold than expired in most price ranges indicating demand for single family homes on the island is still intact.

The real estate market for single family homes on the barrier island continues to soften.

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