Vero Beach Market Report for 32963 July 2020

The July2020 comprehensive Vero Beach Real Estate Market Report, provides a detailed analysis of the local Vero Beach Real Estate Market on the barrier island, zip code 32963, for both single family homes and condominiums.

The Vero Beach Real Estate Market is HOT! In July 2020, we saw a continuation of June’s activity on the Vero Beach Barrier Island Real Estate with more home sales compared to June and the same period in 2019.

More people from the south and north are finding that Vero Beach is not only low in Covid-19 cases compares to other places, but it offers great value in a perfect setting and outdoor activities Another incentive for buyers is the low interest rates which was another catalyst for the increased activity.

Sales prices in July 2020 increased from June and also from the same period last year. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In July 2020, the Vero Beach single-family market in 32963 was a Balanced Market with a 17% Sales Ratio.
• There were 269 single family homes for sale on the island and 47 were sold in July 2020.
• The inventory (homes available for sale) has drastically declined compared to 2019 and has caused competition among the buyers who have fewer homes to choose from.
• Homes sold for a median of 95.12% of list price in July 2020.
• The most active price band was $1,000,000-$2,000,000, with 9 sales and sales ratio 11%.
• In July 2020 the median sales price for single-family homes increased to $760,000 compared to $644,000 last month.

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 201 condos for sale on the island and 31 were sold in July 2020.
• The Vero Beach condominium market in 32963 was also a Balanced Market with an 15% Sales Ratio and sales in July were as strong as in June.
• Homes sold for a median of 95.89% of list price in July 2020 indicating that the buyers are willing to bid others’ offer
• The most active price band was $200,000-$250,000, with 5 sales and sales ratio of 29%.
• The median sales price for attached homes (condominiums) also increased by 5% to $348,000 compared to last month.

For a more comprehensive market analysis for a specific Vero Beach area or neighborhood in 32963 or any other zip code use the request form below.