Vero Beach Mainland Market Report May 2021

The Vero Beach Real Estate Market on the Mainland is still RED HOT! The Vero Beach Mainland Real Estate Market Report for May 2021 shows that buyers are very active but facing challenges finding a home amid depleting inventory and increasing competition. Pending Sales and Sales have far exceeded the homes available for sale!

Buyers continue to face challenges finding a home on the mainland as fewer homes come on the market. Bidding wars are the norm and are driving the home prices even higher. The market activity in May of 2021 has greatly surpassed the action of the same period in 2020 .

The sale prices slightly increased this month and the trend continues to point to higher prices amid depleting inventory. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In May 2021, the Vero Beach Mainland was an Extreme Seller’s Market with an impressive 177% Sales Ratio.
• There were 155 homes for sale on the mainland and 275 were sold in May 2021.
• The inventory (homes available for sale) continues to decline and was 29% below last month’s and 80% less than the same period in 2020! This inventory crunch has created big competition among the buyers who have fewer homes to choose from resulting in multiple offers over asking price and in some situations buyers are waving appraisals and inspection contingencies.
• Homes sold for a median of 99.20% of list price in May 2021, almost at full price which is another indication of an extremely active and strong market.
• The most active price band was Vero Beach Mainland homes priced from $250,000 to $300,000, with 47 sales and sales ratio of 261%.
• In May 2021 the median sales price mainland homes increased by 2% to $274,900 compared to $269,950 in April.
• The most active market in May 2021 was the Southeast County area with 59 homes for sale, 201 Pending Sales, 92 sales, 0.5 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.