Vero Beach Mainland Market Report August 2024

The August 2024 Real Estate Market Report for Vero Beach Mainland shows that the market became a Balanced Market as sales declined amid steady inventory during a typically slow summer season. However, sales prices have remained steady as buyers’ appetite for Vero Beach homes on the mainland is still intact.

Sale prices continue to stabilize and increased slightly from July, but we are seeing that the elevated prices have affected and may continue to impact sales. We still need to observe the action the rest of the summer season to determine how the market will behave moving forward. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In August 2024, the Vero Beach Mainland became a Balanced Market with a 18% Sales Ratio.
• There were 763 homes for sale on the mainland and 136 were sold in August 2024.
• The inventory (homes available for sale) in August 2024 slightly decreased from July but sellers still seek the opportunity to list their homes as buyers’ demand for homes on the mainland remains intact. . As we expect a steady flow of new inventory coming to market in the fall, it will eventually affect keep listing and sale prices.
• In August 2024, homes sold for a median of 95.35% of list price, at slightly lower level than last month as buyers are still active.
• The most active price band for Vero Beach Mainland homes was again homes priced from $500,000 to $1,000,000, with 30 sales but with sales ratio of only 13%, as buyers are still targeting higher priced homes in Vero Beach mainland.
• In August 2024 the median sales price slightly increased by 2% compared to July with median sale price of $370,000.
• The most active market in August 2024 was the Southeast County area with 258 homes for sale, 87 Pending Sales, 53 sales, 4.9 months of remaining inventory (absorption rate) and a Sellers 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.