Vero Beach Market Report for 32963 April 2023

The Vero Beach Real Estate Market Report for zip code 32963 in April 2023 shows that buyers were still active and maintaining the sellers market for both single family homes and condos on the island. The inventory was slightly decreased, but the continued buyer demand for homes on the barrier island kept both closings and pending sales high.

Vero Beach real estate sales in April 2023 increased at almost the same levels as during the last year’s season. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In April 2023, the Vero Beach single-family market in 32963 was still a Sellers Market with 22% Sales Ratio.
• There were 145 single family homes for sale on the island and 32 were sold in April 2023.
• The inventory (homes available for sale) slightly decreased in April but still 263% higher than the same period in 2022. If inventory continues to grow relative to demand, it is likely that will affect pricing especially since the strong winter season is almost over.
• Homes sold for a median of 96.47% of list price in April 2023, as more buyers were actively looking for a home in Vero Beach barrier island keeping prices steady.
• The most active price band for single family homes on the barrier island was $500,000 to $1,000,000 , with 14 sales and sales ratio of 50%.
• In April 2023 the median sales price for single-family homes decreased by 16% to $1,055,000 compared to March, mainly due to more sales of lower priced homes.
• The most active market for single family homes on the island in April 2023 was again the Central Beach area with 36 homes for sale,46 Pending Sales, 15 sales, and 2.4 months of remaining inventory (absorption rate) and a Strong Sellers Market.

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 69 condos for sale on the island and 23 were sold in April 2023.
• The Vero Beach condominium market in 32963 continues to be a favorite with buyers and it is a Sellers Market with an 33% Sales Ratio amid steady inventory.
• The inventory (condos available for sale) in April 2023 slightly decreased by 4% compared to March and still 238% higher than the same period last year.
• Condos sold for a median of 98.13% of list price with an average of 70 Days on the Market (DOM) in April 2023, but strong sales of higher priced condos on the island (area code 32963) keep prices high.
• The most active price band was $1,000,000 to $2,000,000, with 7 sales and a sales ratio of 58%
• The median sales price for attached homes (condominiums) in April 2023 slightly increased by 4% to $639,000 compared to March as more higher priced condos were sold.
• The most active market for condos in April 2023 on the barrier island was again the Central Beach area with 33 condos for sale, 42 Pending Sales, 10 sales, 3.3 months of remaining inventory (absorption rate) and a Sellers Market. The increase in Pending Sales will indicates that buyers’ demand for condos on the island is still intact.

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.