Vero Beach Mainland Real Estate Market Report June 2016

In June 2016 the Vero Beach real estate market for homes in mainland slowed down a bit as sales decreased compared to last month and the same period in 2015. However, sale prices are still appreciating and increased by 19% compared to the same period last year. The increase in sale prices indicates that demand for homes in Vero Beach mainland remains intact which is good news for the sellers.

Vero Beach Real Estate Market Highlights – June 2016


In June 2016, 176 homes were sold in Vero Beach mainland, 17.5% fewer than the same period in 2015 and fewer than in May . The decrease in sales this month may be attributed to lack of inventory in some price ranges.

Vero Beach Mainland Market Statistics - For Sale vs Sold - June 2016 DATA SOURCE: MLS data as of 7/2/2016. Data believed to be accurate but not guaranteed.

The chart above shows that the inventory of available homes for sale decreased again continues at lower levels than the last 3 years. The decrease in sales this month may be attributed to lack of inventory in some price ranges.

Vero Beach Real Estate Market Statistics – June 2016

Market Statistics - Vero Beach Mainland June 2016 DATA SOURCE: MLS data as of 7/2/2016. 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 June 2016, the absorption rate or months of remaining inventory was 3.6 indicating a seller’s market 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 – June 2016


The chart below shows that sale prices are still appreciating and increased by 19% compared to the same period last year . Sellers market continues for all price ranges up to $300,000 and expanding in the $350,000 to $450,000 price ranges.

Market Statistics - Mainland Median of Sale Prices - June 2016 DATA SOURCE: MLS data as of 7/2/2016. Data believed to be accurate but not guaranteed.

The median of sale prices for the last 30 days was $180,000 with an average DOM of 118 days. The lack of inventory and buyers’ demand for Vero Beach homes continues to drive prices up and propagates the seller’s market in many areas and price ranges.

The recent 30-day average 118 DOM is slightly above the 12 month average and indicates demand is steady. 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 - June 2016 DATA SOURCE: MLS data as of 7/2/2016. 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. Weak demand for homes above $450,000 continues for almost a year.

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 homes in great price and value.

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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