The real estate market on the mainland in Vero Beach in July 2015 was active with slightly more sales than last year and continued price appreciation. Sale prices also increased by 5.5% compared to the same period last year. The market action in July was encouraging with increases in sales despite the reduction in the inventory.
Vero Beach Real Estate Market Highlights – July 2015
In July 2015, 191 homes were sold in Vero Beach mainland, 5.5% more than the same period last year. The increase in sales is good news especially because of the lower inventory levels.
DATA SOURCE: MLS data as of 8/2/2015. Data believed to be accurate but not guaranteed.
The chart above shows that the inventory of available homes for sale has slightly decreased but remains steady the last 12 months. Further reduction in the inventory in some price ranges, especially those on the high-end of price range will help the market with further price appreciation.
Vero Beach Real Estate Market Statistics – July 2015
DATA SOURCE: MLS data as of 8/2/2015. Data believed to be accurate but not guaranteed.
Notes: (1) The average of all 12 months of inventory, (2) The average of all 12 months of List Price to Sale Price Ratio & (3) The average DOM in 12 month period.
The Absorption Rate or months of remaining inventory was 3.7 in July indicating a continuation of a very active market for homes in Vero Beach mainland.
The list to sale price ratio (95.3%) shows that homes are priced well within the market and buyers are willing to make offers and homes that are priced well move quickly as the DOM indicator of 100 days shows.
Vero Beach Real Estate Market Analysis – July 2015
In July 2015, 191 homes were sold in Vero Beach mainland, 5.5% more than the same period last year. The increase in sales is good news especially because of the lower inventory levels.The chart below shows that Sale prices are still appreciating and increased by 5.5% compared to the same period in 2014.
DATA SOURCE: MLS data as of 8/2/2015. Data believed to be accurate but not guaranteed.
The median sold price for the last 30 days was $135,000 with an average DOM of 100 days.
The recent 30-day average DOM is below the 12 month average indicates demand is steady. The chart below presents the number of homes Sold vs. Expired (failed to sell) the last 12 months and DOM of homes sold. Notice that Homes from $400,000 to $450,000 price range took the longest to sell with 248 DOM .
DATA SOURCE: MLS data as of 8/2/2015. Data believed to be accurate but not guaranteed.
More homes failed to sell (expired) above $450,000 price range, than sold in Vero Beach mainland. We saw a very active market in the $150K to $200K price ranges . The last few months the DOM of homes priced from $400,000 to $450,000 is very high indicating weaker demand.
Seller’s market is all areas and all price ranges up to $250,000 and in the $350,000 to $400,000 price range.
Detailed Real Estate Market Reports for Vero Beach mainland are produced on a monthly basis. If you would like to receive these real estate market reports, fill in the request form below with your email address and indicate that you wish to receive market reports in the message box. These reports will be sent to your email the beginning of the each month with market statistics of the previous month.