The Vero Beach Real Estate Market for single family homes the island in July 2017 was more active with more sales and higher prices than the same period on 2016. Sales were strong in July and increased by 34% demand for single family homes on the island continues strong even post season.
Vero Beach Real Estate Market Highlights – July 2017
Although sales decreased in July 2017 compared to last month, they were still 34% higher than the same period last year. There were 39 single family homes sold on the island 20% more than the same period in 2016.
DATA SOURCE: MLS data as of 8/2/2017. Data believed to be accurate but not guaranteed.
Sales and sale prices increased in July as demand for homes on the island continues strong even post season. Buyers continue to look for that special home on the island.
Vero Beach Real Estate Market Statistics – July 2017
DATA SOURCE: MLS data as of 8/2/2017. 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.
The Vero Beach real estate market report for July 2017 shows that although the market was more active this month sales of single family homes on the island are lagging the overall market. The List to Sale price ratio of 90.1% is below the average and declining indicating that prices may be getting ahead of the curve.
The Days On the Market (DOM) is below average another indication of market stabilization for single family homes on the island.
The Absorption Rate, or months of inventory of 8.6 indicates that we are in a balanced market.
Vero Beach Real Estate Market Analysis – July 2017
Sale prices of single family homes on the island jumped by 45% compared to the same period last year and the median of sale prices was $1,120,000 as the following charts shows.
DATA SOURCE: MLS data as of 8/2/2017. Data believed to be accurate but not guaranteed.
An analysis on Price Ranges of homes sold versus homes that failed to sell (expired) and the days these homes were on the market (DOM) gives us a good indication for the overall health of the real estate market on the barrier island (zip code 32963) in Vero Beach. The Vero Beach real estate market chart below presents the number of single family homes Sold vs. Expired (failed to sell) the last 12 months and DOM of homes sold.
DATA SOURCE: MLS data as of 8/2/2017. Data believed to be accurate but not guaranteed.
More homes sold than expired in some price ranges but the trend is changing on higher price ranges. Homes up to $350,000 were sold the fastest with an average of 86 DOM.
The market of homes priced over $2M was very active with many sales this month pushing the median of sale prices to a new high .
Detailed Real Estate Market Reports for single family homes in Vero Beach Barrier Island (zip code 32963) 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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