Vero Beach Market Report for 32963 January 2021

The January 2021 Vero Beach Real Estate Market Report for zip code 32963, shows that the real estate market on the barrier island in Vero Beach continues to be very active and a Sellers Market. This real estate market report covers both single family homes and condominiums on the Vero Beach barrier island, zip code 32963.

Buyers continue to be very active pushing prices up amid a depleting inventory and increased competition. The market activity in January 2021 surpassed the action of the same period in 2020 especially now during the traditionally active winter season.

People visiting from all the major metropolitan areas to the north and south are coming here to Vero Beach to escape overcrowding and enjoy the beautiful weather and the outdoors. The continuation of low interest rates has also become the catalyst for the buyers to jump on the opportunity to own a home here in Vero Beach.

Sale prices in January 2021 continue their upward trend due to strong market action. . Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In January 2021, the Vero Beach single-family market in 32963 was a Sellers Market with a 26% Sales Ratio.
• There were 136 single family homes for sale on the island and 36 were sold in January 2021.
• The inventory (homes available for sale) continues to decline and was 20% below last month’s and 60% less than the same period in 2020. This has created big competition among the buyers who have fewer homes to choose from resulting in an occasional bidding war.
• Homes sold for a median of 98.05% of list price in January 2021, showing that buyers are making offers close to asking price amid increased competition.
• The most active price band was for single family homes priced from $1,000,000 to $2,000,000, with 14 sales and sales ratio 28%.
• In January 2021 the median sales price for single-family homes slightly increased to $955,000 compared to $950,000 in December.
• The most active market for single family homes on the island in January 2021 was the Central Beach area with 51 homes for sale, 39 Pending Sales, 13 sales, 3.9 months of remaining inventory (absorption rate) and a Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 123 condos for sale on the island and 34 were sold in January 2021.
• The Vero Beach condominium market in 32963 was active and a Sellers Market with an 28% Sales Ratio with slightly more sales than last month.
• Condos sold for a median of 95.86% of list price in January 2021 indicating that the buyers continue to make offers for condos on the island amid decreasing inventory.
• The most active price band was $250,000-$300,000, with 10 sales and an impressive sales ratio of 53%.
• The median sales price for attached homes (condominiums) decreased by 12% to $337,500 compared to last month mainly due to sales of lower-end condos on the island.
• The most active market for condos in January 2021 on the barrier island was the Beach City area with 46 condos for sale, 18 Pending Sales, 17 sales, only 2.7 months of remaining inventory (absorption rate) and an Extreme Sellers 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.