Vero Beach Market Report for 32963 August 2022

The Vero Beach Real Estate Market Report for zip code 32963 in August 2022 shows that the market has shifted to a Balanced Market amid slight increase in the inventory. Buyers have taken a step back from the buying frenzy we experienced during the winter season. As the summer is progressing, buyers are still actively looking for a property on the barrier island . However, the market is expected to continue to be challenging for buyers as inventory is still low.

Sales in August 2022 were higher than in July which is encouraging for the Vero Beach real estate. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In August 2022, the Vero Beach single-family market in 32963 was a Balanced Market with a 19% Sales Ratio.
• There were 94 single family homes for sale on the island and 18 were sold in August 2022.
• The inventory (homes available for sale) In August was slightly higher than in July and at almost the same level as during the same period in 2021.
• Homes sold for a median of 100% of list price in August 2022, another indication of a still competitive real estate market for single family homes on the island.
• The most active price band was again single family homes priced over $2,000,000 , with 3 sales and sales ratio of 15%.
• In August 2022 the median sales price for single-family homes slightly increased to $1,360,000. The prices appear to stabilize but the indication is that prices will continue the upward trend amid continued demand.
• The most active market for single family homes on the island in August 2022 was the Central Beach area with 23 homes for sale, 29 Pending Sales, 8 sales, and 2.9 months of remaining inventory (absorption rate) and a Balanced Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 47 condos for sale on the island and 17 were sold in August 2022.
• The Vero Beach condominium market in 32963 was active and a Seller’s Market with an 36% Sales Ratio amid increasing inventory.
• The inventory (condos available for sale) in August 2022 increased by 89% compared to July and almost at the same level as the same period in 2021.
• Condos sold for a median of 99% of list price with an average of 41 Days on the Market (DOM) in August 2022, another testament to an active and competitive market for condos on the island.
• The most active price band was $1,000,000 to $2,000,000, with 4 sales and a sales ratio of 50%!
• The median sales price for attached homes (condominiums) in August 2022 increased by 12% to $700,000 compared to July.
• The most active market for condos in August 2022 on the barrier island was again the Central Beach area with 24 condos for sale, 38 Pending Sales, 10 sales, 2.4 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.