The Vero Beach real estate market on the mainland was strong in April 2015 with more sales pending and more actual sales than in March and the same period last year. The increase in sales is encouraging as the season comes to an end. Sale prices are still appreciating and increased by 5.4% compared to the same period in 2014. Sales pending keep increasing and jumped by 11% compared to March.
Vero Beach Real Estate Market Highlights – April 2015
Sales of Vero Beach homes on the mainland jumped by 8% in April 2015 compared to the same period last year. The increase in sales is encouraging at the end of the season predicting more sales moving forward.
DATA SOURCE: MLS data as of 5/2/2015. Data believed to be accurate but not guaranteed.
The chart above shows that the inventory of available homes for sale in Vero Beach mainland has remained steady the last 10 months, but was reduced in March and April. The sales pending also tell a good story since they project future market activity.
Vero Beach Real Estate Market Statistics – April 2015
DATA SOURCE: MLS data as of 5/2/2015. Data believed to be accurate but not guaranteed.
Notes: (1) This is the average of all 12 months of inventory, (2) This is the average of all 12 months of List Price to Sale Price Ratio & (3) This is the average DOM in 12 month period.
In April 2015, the Absorption Rate or months of remaining inventory is 3.4 indicating a strong market activity for Vero Beach homes on the mainland.
The list to sale price ratio (95.4%) slightly increased steady indicating that homes are priced well within the market and buyers do not hesitate to make offers.
Vero Beach Real Estate Market Analysis – April 2015
In April 2015, 224 homes were sold in Vero Beach mainland, 8% more than the same period last year and more than in March. The increase in sales is encouraging as we ended the traditionally strong winter season and entering the slow summer months.The chart below shows that sale prices are still appreciating but at a slower pace.
DATA SOURCE: MLS data as of 5/2/2015. Data believed to be accurate but not guaranteed.
The median sold price for the last 30 days was $135,000 with an average DOM of 92 days.
The recent 30-day average DOM is slightly below the 12 month average indicates demand is steady. The chart below presents the number of homes Sold vs. Expired (failed to sell) the last 12 months and DOM of homes sold. Notice that homes up to $200,000 price ranges were sold the fastest with an average of 85 DOM.
DATA SOURCE: MLS data as of 5/2/2015. Data believed to be accurate but not guaranteed.
More homes failed to sell (expired) above $500,000 price range, than sold in Vero Beach mainland. Homes from $400,000 to $450,000 price range sat the longest on the market with an average of 308 DOM. We have noticed that the DOM of homes priced from $400,000 to $450,000 the last few months is very high indicating weak demand for homes in that price range.
Sales pending keep increasing and jumped by 11% compared to last month and last year. The real estate market on the mainland is very active and the proliferation of low mortgage rates bodes well for the market and for the sellers.
Detailed Real Estate Market Reports for Vero Beach mainland 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 and indicate that you wish to receive market reports in the message box. These reports will be sent to your email the beginning of the each month with market statistics of the previous month.
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