The October 2022 Real Estate Market Report for Vero Beach Mainland shows that the market is stable and although we are still in a Sellers Market, the increase in the inventory and higher interest rates, may affect sales and prices. . We have started seeing price reductions, an indication of a softening market.
The sale prices slightly increased this month but are stabilizing and if the inventory keeps increasing we’ll put some more pressure on the sale prices. Following are some statistics for this month.
Vero Beach Mainland Real Estate Market Insights
- In October 2022, the Vero Beach Mainland was still a Sellers Market with a 33% Sales Ratio
- There were 448 homes for sale on the mainland and 147 were sold in October 2022.
- The inventory (homes available for sale) in October 2022 increased by 5% from last month and it was 230% higher compared to 2021 for the same period. The increase in inventory is a welcoming sign for the buyers who now have more homes to choose from.
- In October 2022, homes sold for a median of 99.92% of list price, higher than last month and an indication that buyers are still interested in Vero Beach Mainland homes.
- The most active price band was Vero Beach Mainland homes priced from $500,000 to $1,000,000, with 25 sales and sales ratio of 23%.
- In October 2022 the median sales price mainland homes slightly increased by 5% to $324,500 compared to September.
- The most active market in October 2022 was again the Southeast County area with 170 homes for sale, 91 Pending Sales, 72 sales, 2.4 months of remaining inventory (absorption rate) and an Extreme 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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