The February 2023 Real Estate Market Report for Vero Beach Mainland shows that we are went back to a Sellers Market as the influx of visitors created higher demand for homes on the mainland. The strong market activity now has a positive impact on pushing home prices higher.
Although sale prices are slightly higher this month, they are stabilizing and if the inventory keeps increasing we’ll see some pressure on the sale prices moving forwrd. Following are some statistics for this month.
Vero Beach Mainland Real Estate Market Insights
- In February 2023, the Vero Beach Mainland went back to a Sellers Market with a 24% Sales Ratio.
- There were 560 homes for sale on the mainland and 134 were sold in February 2023.
- The inventory (homes available for sale) in February 2023 increased by 7% from January but it was a whopping 352% higher compared to the same month in 2022. 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 February 2023, homes sold for a median of 95.07% of list price, slightly lower than last month as prices are stabilizing.
- The most active price band was Vero Beach Mainland homes priced from $500,000 to $1,000,000, with 25 sales but sales ratio of only 17%.
- In February 2023 the median sales price mainland homes slightly increased by 2% to $342,500 compared to January.
- The most active market in February 2023 was again the Southeast County area with 206 homes for sale, 131 Pending Sales, 56 sales, 3.7 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.
Neighborhood Market Insights
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