In June 2015 the Vero Beach real estate market for single family homes on the barrier island with buyers concentrating on high-end homes. Sales in June decreased by 6% compared to the same period last year. The demand for Vero Beach single family homes on the barrier island has remained steady for homes price up to $450,000 and keeps increasing for homes priced from $650,000 to $700,000.
A detailed view of the Vero Beach real estate market on the Barrier Island (zip code 32963) for single family homes is presented in the following sections.
Vero Beach Real Estate Market Highlights – June 2015
Seller’s market continues for homes up to $450,000, in $500,000 to $550,000 and $650,000 to $700,000 price ranges. Pending sales in June were also strong which indicates sales indicates that the market activity will remain healthy for the coming months.
DATA SOURCE: MLS data as of 7/2/2015. Data believed to be accurate but not guaranteed.
We can see from the chart above that the number of available homes for sale has been slightly decreasing the last 4 months, but the number of homes sold the last 8 months is increasing indicating demand is still intact for single family homes on the barrier island.
Vero Beach Real Estate Market Statistics – June 2015
DATA SOURCE: MLS data as of 7/2/2015. 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 June 2015 shows that the market has stabilized but we are still in a buyer’s market for some areas and price points. The List to Sale price ratio of 90% is slightly below average indicating that sale prices are not appreciating that much.
The Days On the Market (DOM) is almost at the average indicating steady demand for single family homes on the barrier island.
Vero Beach Real Estate Market Analysis – June 2015
In June 2015, 44 single family homes were sold on the island in Vero Beach, a 6% decrease compared to the same period in 2014. The pending sales continued strong in June which is a good indicator for the market moving forward.Median of sale prices have stabilized in June 2015 but slightly decreased by 3.4% compared to the same period in 2014 . Sale prices are slightly appreciating although at a slower pace as the following charts shows.
DATA SOURCE: MLS data as of 7/2/2015. 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 7/2/2015. Data believed to be accurate but not guaranteed.
Notice that homes $650,000 to $700,000 were sold the fastest with an average of 110 DOM.
More Vero Beach single family homes failed to sell (expired) than sold above $900,000 price range. Homes above $2M took the longest to sell with 327 DOM.
The demand has remained steady for lower priced homes but keeps increasing for homes priced from $700,000 to $750,000. Buyers are still interested in buying homes in good locations and communities, and in some cases there are multiple offers on well priced properties.
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