Vero Beach Mainland Market Report January 2021

Buyers continue to find the perfect homes amid the depleting inventory and bidding wars are driving the home prices higher. The market activity in January of 2021 surpassed the action of the same period last year as the market continues to be extremely active.

The influx of people coming to Florida from the big cities to the north has caused an increase in demand for housing amid decreasing inventory. In addition, the continuation of low interest rates has become another element to the hot market action as buyers jump on the opportunity to lock these historically low rates and get a home here in Vero Beach.

Although sale prices were a bit lower in January the overall trend continues to point to higher prices with this strong market action. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In January 2021, the Vero Beach Mainland was an Extreme Seller’s Market with a 48% Sales Ratio.
• There were 377 single family homes for sale on the island and 180 were sold in January 2021.
• The inventory (homes available for sale) continues to decline and was 19% below last month’s and 55% less than the same period in 2020. 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 96.26% of list price in January 2021, showing that buyers are making offers close to the listing price.
• The most active price band was Vero Beach Mainland homes priced from $200,000 to $250,000, with 30 sales and sales ratio of 80%.
• In January 2021 the median sales price mainland homes slightly decreased to $236,000 compared to $248,000 in December.
• The most active market in December 2020 was the Central County area with 149 homes for sale, 199 Pending Sales, 64 sales, 2.3 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.