The September 2023 Real Estate Market Report for Vero Beach Mainland shows that we continue to have a Sellers Market with buyers continue to actively looking for homes on the mainland trying to find good value amid low inventory. Sales were again slightly decreased but sale prices edged higher.
Sale prices are stabilizing amid slowing activity with some price adjustments indicating that the elevated prices continue to affect sales. We wait to see whether the upcoming winter season play a role in demand and sale prices. Following are some statistics for this month.
Vero Beach Mainland Real Estate Market Insights
- In September 2023, the Vero Beach Mainland was again a Sellers Market with a 29% Sales Ratio.
- There were 535 homes for sale on the mainland but only 154 were sold in September 2023.
- The inventory (homes available for sale) in September 2023 increased slightly from August as sellers are still hesitating to list their homes amid ongoing increases in interest rates. The steady flow of new inventory may keep listing and sale prices steady.
- In September 2023, homes sold for a median of 97.84% of list price, at slightly lower level than last month as prices are still rising.
- The most active price band for Vero Beach Mainland homes was again homes priced from $500,000 to $1,000,000, with 34 sales but with sales ratio of only 23%, as buyers are still targeting higher priced homes in Vero Beach mainland.
- In September 2023 the median sales price slightly increased by 4% compared to August with median price at $367,500.
- The most active market in September 2023 was again the Southeast County area with 204 homes for sale, 74 Pending Sales, 62 sales, 3.3 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.
Neighborhood Market Insights
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