Vero Beach Market Report for 32963 June 2022

The Vero Beach Real Estate Market Report for zip code 32963 in June 2022 shows that the Extreme Seller’s Market continues despite the increase in the inventory. Buyers for homes on the barrier island continue to have difficulty finding that home they were looking for as the competition is still high. As the summer is upon us, buyers were still actively looking for a property on the barrier island . The market is expected to continue to be challenging for buyers even during the summer months and it favors the sellers.

Sales in June 2022 were slightly lower than in May as many people have returned to the main residences. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In June 2022, the Vero Beach single-family market in 32963 was again an Extreme Seller’s Market with a 44% Sales Ratio.
• There were 78 single family homes for sale on the island and 34 were sold in June 2022.
• The inventory (homes available for sale) In June remained steady as during last month and it was slightly at higher level compared to the same period in 2021.
• Homes sold for a median of 100% of list price in June 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 over $2,000,000 , with 13 sales and sales ratio of 36%.
• In June 2022 the median sales price for single-family homes decreased to $1,550,000. The prices appear to stabilize but the indication is that prices will continue the upward trend amid steady demand.
• The most active market for single family homes on the island in June 2022 was the Central Beach area with 20 homes for sale, 33 Pending Sales, 14 sales, and 1.4 months of remaining inventory (absorption rate) and an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 29 condos for sale on the island and 34 were sold in June 2022.
• The Vero Beach condominium market in 32963 was active and still an Extreme Seller’s Market with an 41% Sales Ratio despite increasing inventory.
• The inventory (condos available for sale) in June 2022 increased by 29% compared to May and almost at the same level as 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 97.49% of list price with an average of 19 Days on the Market (DOM) in June 2022, another testament to an active and extremely 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 44%!
• The median sales price for attached homes (condominiums) in June 2022 increased by 23% to $702,500 compared to May.
• The most active market for condos in June 2022 on the barrier island was again the Central Beach area with 21 condos for sale, 41 Pending Sales, 13 sales, 1.6 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.