The Vero Beach real estate market for single family homes was active in 2012. More homes were sold in 2012 than in the previous year. The following section provides a detail view of the Vero Beach real estate market on the Barrier Island for single family homes.
Real Estate Market Highlights
The number of properties sold was the highest in 4 years while the inventory of available homes for sale was the lowest in 3 years, indicating an increase in demand as the chart below illustrates 
DATA SOURCE: IRC Tax Records & MLS data as of 1/3/2013. Data believed to be accurate but not guaranteed.
Despite the increase in sales and decrease in inventory, the pending sales is only 9% and there are more than 10 months of remaining inventory in many areas in Vero Beach Barrier Island, indicating that demand for homes does not keep up with supply in these areas.
The chart below shows that the inventory of available homes for sale is less than the beginning of the year, while the number of homes sold each month remains fairly steady, picking as expected in March through June due to seasonality. More single family homes have entered the market since October 2012, indicating sellers have been encouraged from the market activity.
DATA SOURCE: MLS data as of 1/3/2013. Data believed to be accurate but not guaranteed.
Real Estate Market Statistics
DATA SOURCE: MLS data as of 1/3/2013. Data believed to be accurate but not guaranteed.
Notes: (1) This is the average of all 12 months of inventory and (2) This is the average DOM in 12 month period.
Real Estate Market Analysis
The month of December, 37 single family homes were sold in December on the barrier island in Vero Beach and more than the same month the year before. Overall, there were more sales this year than the previous 2 years, which is good news for the market moving forward. The chart below shows the trends of home sales during any given month and over 3 year period. 
DATA SOURCE: MLS data as of 1/3/2013. Data believed to be accurate but not guaranteed.
The median sale price for single family homes on the island in Vero Beach was 13% higher in December 2012 than it was in December 2011. The median sold price for the last 30 days was $667,150 with an average DOM of 200 days. The sale prices are still trending down and trying to form a bottom (see the chart below).
DATA SOURCE: MLS data as of 1/3/2013. Data believed to be accurate but not guaranteed.
A Price Range analysis of homes sold versus homes that failed to sell (expired) and the days these homes were on the market (DOM) provides a useful statistic for the overall health of the real estate market on the barrier island (zip code 32963) in Vero Beach. The chart below presents the number of single family homes Sold vs. Expired (failed to sell) the last 12 months (all of 2012) and DOM of homes sold.
DATA SOURCE: MLS data as of 1/3/2013. Data believed to be accurate but not guaranteed.
Notice that homes in the $600K to $650K price range were sold the fastest with an average of 113 DOM. More homes failed to sell (expired) than sold in $450K to $500K and above $700K price range.
The real estate market for single family homes is strengthening between $300K to $350K and $600K to $650K.
Detailed Real Estate Market Reports for single family homes on the Vero Beach barrier island (zip code 32963) 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. These reports will be sent to your email the beginning of the each month with market statistics of the previous month.
For sellers I provide detailed price analysis report specific to each area and a complimentary no-obligation price analysis consultation. Use the request form below and indicate that you wish to receive the detailed report and the no-obligation price analysis consultation.