The March 2023 Real Estate Market Report for Vero Beach Mainland shows that we are in a Sellers Market as buyers were actively looking for homes on the mainland during this strong winter season. The strong market activity has resulted in higher sale prices despite the increase in the inventory.
However, although sale prices are slightly higher this month, they are stabilizing and if the inventory keeps increasing and the strong winter season comes to an end, we’ll see some pressure on the sale prices moving forward. Following are some statistics for this month.
Vero Beach Mainland Real Estate Market Insights
- In March 2023, the Vero Beach Mainland was a Sellers Market with a 32% Sales Ratio.
- There were 593 homes for sale on the mainland and 190 were sold in March 2023.
- The inventory (homes available for sale) in March 2023 increased by 6% from February and still a whopping 357% higher compared to the same month in 2022. The increase in inventory is certainly a welcoming sign for the buyers and may put a pressure on the sale prices as buyers now have more homes to choose from.
- In March 2023, homes sold for a median of 97.07% of list price, slightly higher than last month as prices are stabilizing.
- The most active price band was Vero Beach Mainland homes priced from $250,000 to $300,000, with 31 sales but sales ratio of 31%.
- In March 2023 the median sales price mainland homes slightly increased by 3% to $350,000 compared to February.
- The most active market in March 2023 was again the Southeast County area with 216 homes for sale, 135 Pending Sales, 94 sales, 2.3 months of remaining inventory (absorption rate) and a Strong 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
"*" indicates required fields