The August 2022 Real Estate Market Report for Vero Beach Mainland shows that the market continues to be very active and an Extreme Seller’s Market. Although inventory continues to increase, buyer’s demand continues unabated and prices continue the upward trend in a strong Vero Beach mainland real estate market.
Inventory has increased and sits higher than during the same period last year. We continue to observe that bidding wars are no longer the norm during this summer.
The sale prices increased again this month and the trend continues to point to higher prices. Following are some statistics for this month.
Vero Beach Mainland Real Estate Market Insights
- In August 2022, the Vero Beach Mainland was still an Extreme Seller’s Market with a 47% Sales Ratio
- There were 423 homes for sale on the mainland and 199 were sold in August 2022.
- The inventory (homes available for sale) in August 2022 increased by 6% from last month and has doubled compared to last year’s inventory for the same period. The increase in inventory is a welcoming sign for the buyers who now have more homes to choose from.
- In August 2022, homes sold for a median of 98.69% of list price, lower than last month and an indication of the increase in inventory gives buyers an edge towards achieving better sale prices.
- The most active price band was Vero Beach Mainland homes priced from $300,000 to $350,000, with 36 sales and sales ratio of 77%.
- In August 2022 the median sales price mainland homes slightly increased by 2% to $335,000 compared to July.
- The most active market in August 2022 was again the Southeast County area with 165 homes for sale, 100 Pending Sales, 87 sales, 1.9 months of remaining inventory (absorption rate) and an Extreme Seller’s Market.
For a more comprehensive market analysis for a specific Vero Beach area or neighborhood on the Mainland or any other zip code use the request form below.
Neighborhood Market Insights
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