The May 2023 Real Estate Market Report for Vero Beach Mainland shows that we are still in a Sellers Market as buyers were actively looking for homes on the mainland as the winter season came to an end. Sales and sale prices increased while the inventory slightly decreased.
Sale prices are stabilizing but we have started seeing some price reductions indicating that the elevated prices have started to affect sales. Following are some statistics for this month.
Vero Beach Mainland Real Estate Market Insights
- In May 2023, the Vero Beach Mainland was again a Sellers Market with a 43% Sales Ratio.
- There were 521 homes for sale on the mainland and 223 were sold in May 2023.
- The inventory (homes available for sale) in May 2023 slightly decreased by 6% from April but still 204% higher compared to the same month in 2022. The decrease in inventory is certainly a welcoming sign for the sellers and may keep sale prices steady.
- In May 2023, homes sold for a median of 98.12% of list price, at almost the same level as last month as prices are stabilizing.
- The most active price band was Vero Beach Mainland homes priced from $500,000 to $1,000,000, with 54 sales and sales ratio of 42%, as more higher priced homes were sold in Vero Beach mainland.
- In May 2023 the median sales price mainland homes slightly increased by 6% to $355,000 compared to April.
- The most active market in May 2023 was again the Southeast County area with 187 homes for sale, 109 Pending Sales, 91 sales, 2.1 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
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