Vero Beach Mainland Market Report December 2020

The Vero Beach Mainland Real Estate Market Report for December 2020, shows that the real estate market on the Vero Beach Mainland continues to be red hot and an Extreme Seller’s Market.

Buyers continue to be very active bidding in homes in all areas of Vero Beach mainland and driving the Vero Beach Real Estate Market higher and the low inventory often creates bidding wars. The market activity in December 2020 surpassed the action of the same period last year as the market continues to be extremely strong.

The influx of people moving out of the big cities to the north and south has caused an increase in demand for housing amid depleting inventory. In addition, the continuation of low interest rates becomes the catalyst for the buyers to jump on the opportunity to own a home here in Vero Beach.

Sale prices in December 2020 continue their upward trend due to strong market action. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In December 2020, the Vero Beach Mainland was an Extreme Seller’s Market with a 55% Sales Ratio.
• There were 467 single family homes for sale on the island and 259 were sold in December 2020.
• The inventory (homes available for sale) continues to decline and was 8% below last month’s and 60% less than the same period in 2019. This has created big competition among the buyers who have fewer homes to choose from resulting in multiple offers over asking price in some situations.
• Homes sold for a median of 98.25% of list price in December 2020, showing that buyers are making offers almost at listing price.
• The most active price band was Vero Beach Mainland homes priced from $250,000 to $300,000, with 37 sales and sales ratio 51%.
• In December 2020 the median sales price mainland homes slightly increased to $248,000 compared to $246,500 in November.
• The most active market in December 2020 was the Central County area with 195 homes for sale, 149 Pending Sales, 101 sales, only 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.