Vero Beach Market Report for 32963 January 2022

The January 2022 Vero Beach Real Estate Market Report for zip code 32963 shows that the sellers have the advantage in this Extreme Seller’s Market . The real estate market on the barrier island is extremely competitive and the fact that we are in the traditionally winter season, makes it even harder for the buyers to find homes amid scarce inventory. The market is expected to continue be hot as the influx of vacationers and people who are relocating to the area continue unabated.

Sales in January 2022 were lower than in December mainly due to fewer homes available for sale. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In January 2022, the Vero Beach single-family market in 32963 was again an Extreme Seller’s Market with a 56% Sales Ratio.
• There were only 50 single family homes for sale on the island and 28 were sold in January 2022.
• The inventory (homes available for sale) In January decreased by 18% compared to last month and it was 63% lower than in the same period in 2021.
• Homes sold for a median of 99.92% of list price in January 2022, another indication of an extremely competitive real estate market for single family homes on the island.
• The most active price band was for single family homes priced from $1,000,000 to $2,00,000 , with 7 sales and sales ratio of 44%.
• In January 2022 the median sales price for single-family homes decreased by 6% to $879,000. The prices might have reached a plateau as, we are seeing some price reductions, however we have string indication that prices will remain high for the rest of the season due to competition.
• The most active market for single family homes on the island in January 2022 was the Central Beach area with 16 homes for sale, 35 Pending Sales, 8 sales, and 2 months of remaining inventory (absorption rate) and an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 28 condos for sale on the island and 24 were sold in January 2022.
• The Vero Beach condominium market in 32963 was very active and still an Extreme Seller’s Market with an 86% Sales Ratio amid low inventory.
• The inventory (condos available for sale) in January 2022 decreased by 18% compared to last month and still 76% 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 98.2% of list price in January 2022, another testament to a very active and competitive market for condos on the island.
• The most active price band was $1,000,000 to $2,000,000, with 3 sales and a sales ratio of 60%.
• The median sales price for attached homes (condominiums) in January 2022 slightly increased by 8% to $597,500 compared to December.
• The most active market for condos in January 2022 on the barrier island was the Beach City area with 10 condos for sale, 15 Pending Sales, 11 sales, 0.9 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.