Vero Beach Mainland Market Report December 2022

The December 2022 Real Estate Market Report for Vero Beach Mainland shows that the market is barely staying in the Sellers Market category but the increase in the inventory and subdued buyers’ demand, may continue affecting sales and prices moving forward. . We are anticipating a strong market activity as we enter the traditionally strong winter season.

The sale prices slightly decreased this month but are stabilizing and if the inventory keeps increasing we’ll see some more pressure on the sale prices. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In December 2022, the Vero Beach Mainland was still a Sellers Market with a 22% Sales Ratio albeit moving more towards a more balanced market
• There were 523 homes for sale on the mainland and 113 were sold in December 2022.
• The inventory (homes available for sale) in December 2022 increased by 4% from last month but it was a whopping 313% higher compared to the same month in 2021 for the same period. The increase in inventory is certainly a welcoming sign for the buyers but may put a pressure on the sale prices as buyers now have more homes to choose from.
• In December 2022, homes sold for a median of 96.15% of list price, lower than last month and an indication that prices may have reached a plateau.
• The most active price band was Vero Beach Mainland homes priced from $500,000 to $1,000,000, with 20 sales but sales ratio of 16%. The activity in the upper price range amy be a good indicator of an expected strong winter season.
• In December 2022 the median sales price mainland homes slightly decreased by 4% to $320,000 compared to November.
• The most active market in December 2022 was again the Southeast County area with 200 homes for sale, 81 Pending Sales, 47 sales, 4.0 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.