The real estate market on the mainland in Vero Beach was active in August 2015 with slightly more sales than last year and further price appreciation. Sale prices are still appreciating and increased by 8% compared to the same period in 2014. The market action in August is encouraging despite the low inventory level.
Vero Beach Real Estate Market Highlights – August 2015
In August 2015, 165 homes were sold in Vero Beach mainland, 3.8% more than the same period in 2014. The increase in sales is encouraging especially because of the low inventory levels, but not all areas and price points enjoy strong market.
DATA SOURCE: MLS data as of 9/2/2015. Data believed to be accurate but not guaranteed.
The chart above shows that the inventory of available homes for sale has slightly decreased but remains steady the last few months. We need to see further increase in sales in higher price ranges, to see more price appreciation.
Vero Beach Real Estate Market Statistics – August 2015
DATA SOURCE: MLS data as of 9/2/2015. 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.
In August 2015, the absorption rate or months of remaining inventory was 4.4 indicating a very active market and the continuation of the seller’s market in most areas in Vero Beach mainland.
The list to sale price ratio (95.4%) shows that buyers are willing to make offers close to the asking price, an indication of a healthy market.
Vero Beach Real Estate Market Analysis – August 2015
In August 2015, 165 homes were sold in Vero Beach mainland, 3.8% more than the same period in 2014. The increase in sales is good news especially because of the lower inventory levels.
The chart below shows that Sale prices are still appreciating and increased by 5.5% compared to the same period in 2014.
DATA SOURCE: MLS data as of 9/2/2015. Data believed to be accurate but not guaranteed.
The median of sale prices for the last 30 days was $150,000 with an average DOM of 113 days.
The recent 30-day average DOM is slightly above the 12 month average indicating steady demand. 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 from $400,000 to $450,000 price range took the longest to sell with 172 DOM .
DATA SOURCE: MLS data as of 9/2/2015. Data believed to be accurate but not guaranteed.
More homes failed to sell (expired) than sold above $500,000 price range in Vero Beach mainland. We saw a very active market in the $150,000 to $175,000 price range . The last few months the DOM of homes priced from $400,000 to $450,000 is very high indicating weak demand for homes in this price range.
The seller’s market continues in all areas and price ranges up to $250,000 and in the $350,000 to $400,000 price range.
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.
For buyers and sellers I provide detailed market analysis report specific to each area. For sellers, I can provide a complimentary no-obligation property price analysis consultation. Use the request form below and indicate that you wish to receive the detailed report or the no-obligation price analysis consultation.