Vero Beach Market Report for 32963 February 2022

The Vero Beach Real Estate Market Report for zip code 32963 in February 2022 shows that the sellers still have the advantage in continued Extreme Seller’s Market . The real estate market on the barrier island is getting very active and extremely competitive as we are in the middle of the traditionally strong winter season. The buyers face challenges to find homes amid scarce inventory. The market is expected to continue be red hot as the peek of the season is upon us and the influx of vacationers continue unabated.

Sales in February 2022 were slightly lower than in January mainly due to lack of inventorye. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In February 2022, the Vero Beach single-family market in 32963 was again an Extreme Seller’s Market with a 62% Sales Ratio.
• There were only 52 single family homes for sale on the island and 32 were sold in February 2022.
• The inventory (homes available for sale) In February slightly increase compared to last month but it was 55% lower than in the same period in 2021.
• Homes sold for a median of 98.89% of list price in February 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 13 sales and sales ratio of 81%!.
• In February 2022 the median sales price for single-family homes jumped by 38% to $1,237,500, mainly due to sales of higher priced homes. The prices continue their uptrend after a month of stabilization but the indication is that prices will remain high for the rest of the season due to increased competition.
• The most active market for single family homes on the island in February 2022 was the Central Beach area with 12 homes for sale, 34 Pending Sales, 9 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 25 condos for sale on the island and 20 were sold in February 2022.
• The Vero Beach condominium market in 32963 was very active and still an Extreme Seller’s Market with an 80% Sales Ratio amid low inventory.
• The inventory (condos available for sale) in February 2022 decreased by 11% compared to January and 66% lower than the same period in 2021. The lack of available condos for sale continues to be challenging for the buyers.
• Condos sold for a median of 100% of list price in February 2022, another testament to a very strong and competitive market for condos on the island.
• The most active price band was $350,000 to $400,000, with 4 sales and a sales ratio of 100%.
• The median sales price for attached homes (condominiums) in February 2022 decreased to $445,000 compared to January, mainly due to sales of lower priced condos.
• The most active market for condos in February 2022 on the barrier island was the Central Beach area with 11 condos for sale, 38 Pending Sales, 9 sales, 1.2 months of remaining inventory (absorption rate) and an Extreme Seller’s Market.