Vero Beach Mainland Market Report March 2024

The March 2024 Real Estate Market Report for Vero Beach Mainland shows that the market became a Slight Sellers Market as buyers were more active this month despite the increase in interest rates and more inventory became available as we are at the end of the 2024 winter season. As more inventory is coming into the market we need to see buyers’ appetite for Vero beach homes on the mainland to assess the strength of the market moving forward.

Sale prices continue to stabilize and slightly increased amid continued demand, but the elevated prices may continue to affect sales. We still need to see whether the end of the winter season will play a role in demand and sale prices. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In March 2024, the Vero Beach Mainland moved to a Slight Sellers Market with a 21% Sales Ratio.
• There were 825 homes for sale on the mainland and 174 were sold in March 2024.
• The inventory (homes available for sale) in March 2024 slightly increased from February as sellers still see the opportunity amid the influx of buyers during the winter season. The steady flow of new inventory may keep listing and sale prices steady for a while.
• In March 2024, homes sold for a median of 96.84% of list price, at slightly lower level than last month as buyers have more choices amid increased inventory.
• The most active price band for Vero Beach Mainland homes was again homes priced from $500,000 to $1,000,000, with 47 sales but with sales ratio of only 20%, as buyers are still targeting higher priced homes in Vero Beach mainland which are lower than the high prices of homes on the barrier island.
• In March 2024 the median sales price slightly increased by 3% compared to February with median price at $385,000.
• The most active market in March 2024 was the Central County area with 288 homes for sale, 116 Pending Sales, 64 sales, 4.5 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.