Vero Beach Mainland Real Estate Market Report October 2016

The Vero Beach real estate market activity for homes in mainland in October 2016 has slowed down a bit as sales declined compared to last month and the same period last year. Sale prices were slightly higher as they increased by only 1.4% compared to the same period in 2015 , indicating prices may have reached a plateau as the market is softening.

Vero Beach Real Estate Market Highlights – October 2016


In October 2016, 142 homes were sold in Vero Beach mainland, 12% fewer than the same period in 2015 and fewer than in September . The decline in sales again this month may be confirming a softening market.

Vero Beach Mainland Market Statistics - For Sale vs Sold - October 2016

DATA SOURCE: MLS data as of 11/2/2016. Data believed to be accurate but not guaranteed.

The chart above shows that the inventory of available homes for sale has slightly decreased but remains below levels seen the last 3 years. However, as prices continue to increase, may be pricing some price conscious buyers out of the market.

Vero Beach Real Estate Market Statistics – October 2016

Market Statistics - Vero Beach Mainland October 2016 DATA SOURCE: MLS data as of 11/2/2016. 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 October 2016, the absorption rate or months of remaining inventory was 4.5 indicating that a seller’s market continues for Vero Beach mainland homes.

The list to sale price ratio (95.5%) is at par with the average indicating steady demand and market activity.

Vero Beach Real Estate Market Analysis – October 2016


The chart below shows that sale prices are and slightly increased by 1.3% compared to the same period in 2015, but stabilizing . Sellers market continues for all price ranges up all the way up to $350,000.

Market Statistics - Mainland Median of Sale Prices - October 2016 DATA SOURCE: MLS data as of 11/2/2016. Data believed to be accurate but not guaranteed.

The median of sale prices for the last 30 days was $153,000 with an average DOM of 85 days. The inventory of available homes for sale has slightly decreased but remains below levels seen the last 3 years.

The recent 30-day average of 85 DOM is below average of 108 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 - October 2016 DATA SOURCE: MLS data as of 11/2/2016. Data believed to be accurate but not guaranteed.

Homes up to $200,000 price range were sold the fastest with an average of 89 DOM. The last 12 months the DOM of homes priced above $400,000 is very high indicating weaker demand.

October sales were 12% lower than the same period last year but sellers market continues in all price ranges all the way to $350,000.

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.

Report Request Form:

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