Vero Beach Mainland Real Estate Market Report July 2016

The Vero Beach real estate market activity for homes in mainland in July 2016 slowed down a bit with fewer sales compared to last month and the same period last year. Sale prices on the other hand continue to rise and increased by 17.8% compared to the same period last year. The increase in sale prices indicates that that demand for homes in Vero Beach mainland remains strong.

Vero Beach Real Estate Market Highlights – July 2016


In July 2016, 169 homes were sold in Vero Beach mainland, 17% fewer than the same period in 2015 and fewer than in June . The decrease in sales this month may be attributed to lack of inventory in some locations and price ranges.

Vero Beach Mainland Market Statistics - For Sale vs Sold - July 2016 DATA SOURCE: MLS data as of 8/2/2016. 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 lack of inventory and buyers’ demand for Vero Beach homes continue to drive prices up and propagates the seller’s market in many areas and price ranges.

Vero Beach Real Estate Market Statistics – July 2016

Market Statistics - Vero Beach Mainland July 2016 DATA SOURCE: MLS data as of 8/2/2016. 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 July 2016, the absorption rate or months of remaining inventory was 3.8 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 have not yet reached their peak.

Vero Beach Real Estate Market Analysis – July 2016


The chart below shows that sale prices are still rising and increased by 17.8% compared to the same period in 2015. Sellers market continues for all price ranges up all the way up to $400,000 for the first time since the real estate downturn.

Market Statistics - Mainland Median of Sale Prices - July 2016 DATA SOURCE: MLS data as of 8/2/2016. Data believed to be accurate but not guaranteed.

The median of sale prices for the last 30 days was $190,000 with an average DOM of 114 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 114 DOM is slightly above 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 - July 2016 DATA SOURCE: MLS data as of 8/2/2016. Data believed to be accurate but not guaranteed.

Homes up to $200,000 price range were sold the fastest with an average of 92 DOM. The last 12 months the DOM of homes priced above $400K is very high indicating weaker demand.

New construction in several developments continues to fill the inventory gap and presents more choices to the buyers as several new communities offer new entry and mid-level homes in great price and value, especially for those looking to downsize or retire.

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 is 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.

Report Request Form:

First Name:
*
Last Name:
*
Email:
*
Phone:
Message: