Vero Beach Market Report for 32963 April 2022

The Vero Beach Real Estate Market Report for zip code 32963 in April 2022 shows that the Extreme Seller’s Market continues amid low inventory. Buyers for homes on the barrier island continue to have difficulty finding that home they were looking for as the competition is high. As the winter season came to an end, buyers were very active looking for a property on the barrier island . The market is expected to continue to be challenging for buyers even during the summer and it favors the sellers as listing prices are going higher.

Sales in April 2022 were higher than in March as buyers got more active before the end of the winter season. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In April 2022, the Vero Beach single-family market in 32963 was again an Extreme Seller’s Market with a 44% Sales Ratio.
• There were 55 single family homes for sale on the island and 24 were sold in April 2022.
• The inventory (homes available for sale) In March slightly increased compared to last month and it was 30% lower than in the same period in 2021.
• Homes sold for a median of 100% of list price in April 2022, another indication of an extremely competitive real estate market for single family homes on the island.
• The most active price band was again single family homes priced from $1,000,000 to $2,00,000 , with 12 sales and sales ratio of 52%.
• In April 2022 the median sales price for single-family homes increased by 9% to $1,447,500, mainly due to sales of higher priced homes. The prices continue their uptrend after a brief stabilization but the indication is that prices will remain high due to steady demand.
• The most active market for single family homes on the island in April 2022 was the Central Beach area with 13 homes for sale, 35 Pending Sales, 10 sales, and 1.3 months of remaining inventory (absorption rate) and an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 29 condos for sale on the island and 34 were sold in April 2022.
• The Vero Beach condominium market in 32963 was extremely active and still an Extreme Seller’s Market with an 117% Sales Ratio amid low inventory.
• The inventory (condos available for sale) in April 2022 increased by 21% compared to March and 50% lower than the same period in 2021. The lack of available condos for sale continues to be challenging for the buyers.
• Condos sold again for a median of 100% of list price and an average of only 17 Days on the Market (DOM) in April 2022, another testament to a very strong and extremely competitive market for condos on the island.
• The most active price band was $450,000 to $500,000, with 4 sales and a sales ratio of 133%!
• The median sales price for attached homes (condominiums) in April 2022 decreased by 22% to $545,000 compared to March, mainly due to sales of lower priced condos.
• The most active market for condos in April 2022 on the barrier island was again the Central Beach area with 16 condos for sale, 43 Pending Sales, 9 sales, 1.8 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 in 32963 or any other zip code use the request form below.