Vero Beach Mainland Market Report December 2023

The December 2023 Real Estate Market Report for Vero Beach Mainland shows that we are in a Balanced Market as buyers were more hesitant to make a move possibly anticipating an increase in inventory as we enter the winter season, and possibly lower interest and mortgage rates. We continue to see healthy inventory while buyers’ demand subsided.

Sale prices continue to stabilize amid slowing activity with more price adjustments showing that the elevated prices continue to affect sales. We still need to see whether the winter season will play a role in demand and sale prices. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In December 2023, the Vero Beach Mainland was a Balanced Market with a 18% Sales Ratio.
• There were 651 homes for sale on the mainland and 117 were sold in December 2023.
• The inventory (homes available for sale) in December 2023 slightly decreased by 4% from November as sellers are anticipating an influx of buyers and a strong winter season. The steady flow of new inventory may keep listing and sale prices steady for a while.
• In December 2023, homes sold for a median of 97.82% of list price, at slightly higher level than last month amid stabilizing prices.
• The most active price band for Vero Beach Mainland homes was again homes priced from $500,000 to $1,000,000, with 25 sales but with sales ratio of only 13%, and buyers are still targeting higher priced homes in Vero Beach mainland moving away from the high prices on the barrier island.
• In December 2023 the median sales price slightly increased by only 1% compared to November with median price at $350,000.
• The most active market in December 2023 was again the Southeast County area with 243 homes for sale, 67 Pending Sales, 44 sales, 5.5 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.