Vero Beach Mainland Real Estate Market Report August 2016

The Vero Beach real estate market activity for homes in mainland in August 2016 regained some strength with more sales and price increases. Sale prices continue to rise and increased by 26% compared to the same period in 2015. The increase in sale prices indicates that that demand for homes in Vero Beach mainland continues to be strong.

Vero Beach Real Estate Market Highlights – August 2016


In August 2016, 186 homes were sold in Vero Beach mainland, , 9.4% more than the same period in 2015 and more than in July . The increase in sales this month is a good sign that demand for homes on the mainland is still strong.

Vero Beach Mainland Market Statistics - For Sale vs Sold - August 2016 DATA SOURCE: MLS data as of 9/2/2016. Data believed to be accurate but not guaranteed.

The chart above shows that the inventory of available homes for sale decreased again and continues at lower levels than the last 3 years. The lower inventory levels continue to drive up sale prices as demand for homes on the mainland remains intact and show signs of increase.

Vero Beach Real Estate Market Statistics – August 2016

Market Statistics - Vero Beach Mainland August 2016 DATA SOURCE: MLS data as of 9/2/2016. 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.

In August 2016, the absorption rate or months of remaining inventory was 3.3 and decreasing indicating that a seller’s market continues for Vero Beach mainland homes.

The list to sale price ratio (95.5%) is slightly above average indicating that homes prices are still increasing and have room to go higher.

Vero Beach Real Estate Market Analysis – August 2016


The chart below shows that sale prices are still rising and increased by 26% compared to the same period in 2015. Sellers market continues for all price ranges up all the way up to $350,000.

Market Statistics - Mainland Median of Sale Prices - August 2016 DATA SOURCE: MLS data as of 9/2/2016. Data believed to be accurate but not guaranteed.

The median of sale prices for the last 30 days was $189,000 with an average DOM of 108 days. The lower inventory levels continue to drive up sale prices as demand for homes on the mainland remains intact and show signs of increase.

The recent 30-day average 108 DOM is slightly below the 12 month average of 110 days and indicates demand remains intact. The chart below presents the number of homes Sold vs. Expired (failed to sell) the last 12 months and DOM of homes sold.

Market Statistics - Mainland - Sold vs Expired and DOM - August 2016 DATA SOURCE: MLS data as of 9/2/2016. Data believed to be accurate but not guaranteed.

Homes up to $200,000 price range were sold the fastest with an average of 90 DOM. The last 12 months the DOM of homes priced above $400K is very high indicating weaker demand.

The low inventory and buyers’ demand for Vero Beach homes on the mainland will continue to drive prices up and propagates the seller’s market in many areas and price ranges, not so good for buyers that have been priced out of the market.

Detailed Real Estate Market Reports for Vero Beach mainland 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 and indicate that you wish to receive market reports in the message box. These reports will be sent to your email the beginning of the each month with market statistics of the previous month.

Detailed market analysis report specific to each area are available upon request. A complimentary no-obligation property price analysis consultation is also available for sellers. Use the request form below and indicate that you wish to receive the detailed report or the no-obligation price analysis consultation.

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