August 2020 was a strong housing market in Florida, here in Vero Beach and the rest of the country with buyers out in full force this summer. The increased demand for homes outpaced the available inventory resulting in higher sale prices and bidding wars despite the Covid-19 pandemic.
Homes continue to sell quickly with an average of 24 days on the market, and interest rates are still historically low. Many people are finding that Vero Beach offers great value both in housing and amenities.
Here are some interesting statistics in Housing for the month of August 2020.
- Mortgage Rates hit an all-time low of 2.96%
- Inventory is down 18.2%
- Homes are selling quickly with an average of just 24 days on the market
- Homes Sales are up by 20.7%
Things are moving quickly in today’s real estate market and the number are looking good for both buyers and sellers. Let’s connect to make sure you have what you need to achieve your housing goals this summer.
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