Vero Beach Mainland Real Estate Market Report March 2017

The Vero Beach real estate market activity for homes in mainland in March 2017 continues to be red hot this season. The increases in sale prices have not put a dent into this action suggesting that buyers still see value in Vero Beach mainland real estate. The lower inventory levels continue to drive up demand and sale prices.

Vero Beach Real Estate Market Highlights – March 2017


In March 2017, 218 homes were sold in Vero Beach mainland, 20% more than the same period in 2016 and 26% more that than in February. The increase in sales this month maybe attributed to buyers wanting to bit the clock on the rising mortgage rates and the inevitable increases in 2017.

Vero Beach Mainland Market Statistics - For Sale vs Sold - March 2017 DATA SOURCE: MLS data as of 4/2/2017. 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 – March 2017

Market Statistics - Vero Beach Mainland March 2017 DATA SOURCE: MLS data as of 4/2/2017. 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 March 2017, the absorption rate or months of remaining inventory was 3.3 indicating that we are still in the seller’s market for Vero Beach mainland homes. The list to sale price ratio (95.7%) is almost at par with the average indicating steady demand and market activity.

Vero Beach Real Estate Market Analysis – March 2017


The chart below shows that sale prices increased by 20% compared to the same period last year and stabilizing. Sellers market continues for all price ranges up all the way up to $350,000.

Market Statistics - Mainland Median of Sale Prices - March 2017 DATA SOURCE: MLS data as of 4/2/2017. 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 100 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 100 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 - March 2017 DATA SOURCE: MLS data as of 4/2/2017. Data believed to be accurate but not guaranteed.

Homes up to $200,000 price range were sold the fastest with an average of 89 DOM. Homes in over $500K took the longest to sell with 185 DOM.

Sales in Vero Beach mainland have been outstanding this season indicating demand for homes on the mainland is 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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