Vero Beach Mainland Real Estate Market Report February 2017

The Vero Beach real estate market activity in February 2017 for homes in mainland continues to outpace the marker on the barrier island. However, the the increases in sale prices have slowed indicating that they may be reaching their high point. The increase in inventory we saw the last few months may have a negative impact on sales and sale prices moving forward.

Vero Beach Real Estate Market Highlights – February 2017


In February 2017, 159 homes were sold in Vero Beach mainland, 2.6% more than the same period in 2016 and 14% more that than in January. The increase in sales this month is a welcoming sign for the real estate market on the mainland in Vero Beach amid increases in the inventory.

Vero Beach Mainland Market Statistics - For Sale vs Sold - February 2017 DATA SOURCE: MLS data as of 3/2/2017. Data believed to be accurate but not guaranteed.

The chart above shows that the inventory of available homes for sale has been increasing the last few months. However, as prices continue to increase demand is diminishing and it will impact price appreciation.

Vero Beach Real Estate Market Statistics – February 2017

Market Statistics - Vero Beach Mainland February 2017 DATA SOURCE: MLS data as of 3/2/2017. 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.

In February 2017, the absorption rate or months of remaining inventory was 4.8 indicating that the seller’s market continues for Vero Beach mainland homes.

The list to sale price ratio (95.6%) is almost at par with the average indicating steady demand and market activity.

Vero Beach Real Estate Market Analysis – February 2017


The chart below shows that sale prices increased by 6.7% compared to the same period in 2016, but stabilizing. Sellers market continues for all price ranges up all the way up to $250,000.

Market Statistics - Mainland Median of Sale Prices - February 2017 DATA SOURCE: MLS data as of 3/2/2017. Data believed to be accurate but not guaranteed.

The median of sale prices for the last 30 days was $175,000 with an average DOM of 102 days. Although the inventory of available homes is increasing, it still remains below levels seen the last 3 years.

The recent 30-day average of 102 DOM is almost at par with the average of 103 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 - February 2017 DATA SOURCE: MLS data as of 3/2/2017. Data believed to be accurate but not guaranteed.

Homes up to $200,000 price range were sold the fastest with an average of 88 DOM. Homes in over $500K took the longest to sell with 191 DOM.

Sale prices continue to appreciate amid increases in inventory indicating the the real estate market for homes on the mainland is still strong.

Detailed Real Estate Market Reports for Vero Beach Mainland 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.

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