In September 2015, the real estate market on the mainland in Vero Beach was active with more sales than last year and more price appreciation. Sale prices are still appreciating and increased by 6% compared to the same period last year. The market action in September is encouraging as we are getting ready for the season.
Vero Beach Real Estate Market Highlights – September 2015
In September 2015, 183 homes were sold in Vero Beach mainland, 15.8% more than the same period in 2014. The increase in sales is good news especially because of the lower inventory levels. However, the lack of inventory and buyers’ demand for Vero Beach homes continue to drive prices up and has created a seller’s market in many areas and price points
DATA SOURCE: MLS data as of 10/2/2015. Data believed to be accurate but not guaranteed.
The chart above shows that the inventory of available homes for sale has slightly decreased but remains steady the last few months. We need to see further increase in sales in higher price ranges, to see more price appreciation.
Vero Beach Real Estate Market Statistics – September 2015
DATA SOURCE: MLS data as of 10/2/2015. Data believed to be accurate but not guaranteed.
Notes: (1) The average of all 12 months of inventory, (2) The average of all 12 months of List Price to Sale Price Ratio & (3) The average DOM in 12 month period.
In September 2015, the absorption rate or months of remaining inventory was 3.4 indicating a very active market and the continuation of the seller’s market in all areas in Vero Beach mainland.
The list to sale price ratio (95.4%) is close to the average and it shows that buyers are willing to make offers close to the asking price which is a healthy real estate market.
Vero Beach Real Estate Market Analysis – September 2015
The strong real estate market in Vero Beach mainland is boosting sale prices despite the low inventory levels. The increase in sales is also good news for the market.
The chart below shows that sale prices are still appreciating and increased by 6% compared to the same period last year.
DATA SOURCE: MLS data as of 10/2/2015. Data believed to be accurate but not guaranteed.
The median of sale prices for the last 30 days was $159,000 with an average DOM of 117 days.
The recent 30-day average DOM is slightly above the 12 month average indicating steady demand. The chart below presents the number of homes Sold vs. Expired (failed to sell) the last 12 months and DOM of homes sold. Notice that up to $200,000 price range were sold the fastest with an average of 90 DOM.
DATA SOURCE: MLS data as of 10/2/2015. Data believed to be accurate but not guaranteed.
More homes failed to sell (expired) than sold above $500,000 price range in Vero Beach mainland. We saw a very active market in the $125,000 to $150,000 price range .
We have a seller’s market is all areas and all price ranges up to $300,000.
Detailed Real Estate Market Reports for Vero Beach mainland are produced on a monthly basis. If you would like to receive these real estate market reports, fill in the request form below with your email address and indicate that you wish to receive market reports in the message box. These reports will be sent to your email the beginning of the each month with market statistics of the previous month.
For buyers and sellers I provide detailed market analysis report specific to each area. For sellers, I can provide a complimentary no-obligation property price analysis consultation. Use the request form below and indicate that you wish to receive the detailed report or the no-obligation price analysis consultation.