The January 2023 Real Estate Market Report for Vero Beach Mainland shows that we are now in a Balanced Market as the increase in the inventory and slower buyers’ demand, continue affecting sales and sale prices. . However, we are anticipating a strong market activity now that we have entered the traditionally strong winter season with many people flocking to Florida and Vero Beach to escape the harsh north winters.
The sale prices are stabilizing and if the inventory keeps increasing we’ll see some pressure on the sale prices. Following are some statistics for this month.
Vero Beach Mainland Real Estate Market Insights
- In January 2023, the Vero Beach Mainland reverted to a Balanced Market with a 19% Sales Ratio as the supply and demand has reached equilibrium.
- There were 554 homes for sale on the mainland and 107 were sold in January 2023.
- The inventory (homes available for sale) in January 2023 increased by 6% from last month but it was a whopping 376% 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 January 2023, homes sold for a median of 97.8% of list price, slightly higher than last month as prices have stabilized.
- The most active price band was Vero Beach Mainland homes priced from $500,000 to $1,000,000, with 23 sales but sales ratio of only 17%.
- In January 2023 the median sales price mainland homes slightly increased by 3% to $330,000 compared to December.
- The most active market in January 2023 was again the Southeast County area with 210 homes for sale, 105 Pending Sales, 40 sales, 5.3 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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