Vero Beach Market Report for 32963 June 2023

The Vero Beach Real Estate Market Report for zip code 32963 in June 2023 shows that we continue to be in a sellers market for both single family homes and condos on the island as buyers were very active even as we entered the summer season. The inventory was slightly increased while buyers’ demand for Vero Beach homes on the barrier island is still intact resulting in more slaes and higher sale prices.

Vero Beach real estate sales slightly increased again in June 2023 and also surpassed the sales during the same period in 2022. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In June 2023, the Vero Beach single-family market in 32963 was still a Sellers Market with 35% Sales Ratio.
• There were 136 single family homes for sale on the island and 48 were sold in June 2023.
• The inventory (homes available for sale) slightly increased in June 2023 and still 175% higher than the same period in 2022. If inventory continues to remain steady relative to demand, it is likely that will affect pricing, as we continue to see more price reductions.
• Homes sold for a median of 94.70% of list price in June 2023, an evidence of buyers bidding down list prices.
• The most active price band for single family homes on the barrier island was was for homes between $1,500,000 and $2,000,000, with 8 sales and sales ratio of 38%.
• In June 2023 the median sales price for single-family homes increased by 12% to $1,455,000 compared to May.
• The most active market for single family homes on the island in June 2023 was again the Central Beach area with 43 homes for sale, 16 Pending Sales, 17 sales, and 2.5 months of remaining inventory (absorption rate) and a Strong Sellers Market.

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 70 condos for sale on the island and 219 were sold in June 2023.
• The Vero Beach condominium market in 32963 continues to be a favorite with buyers and it is a Sellers Market with an 27% Sales Ratio amid steady inventory.
• The inventory (condos available for sale) in June 2023 slightly increased by 4% compared to May and still 143% higher than the same period last year.
• Condos sold for a median of 100% of list price with an average of 43 Days on the Market (DOM) in June 2023, as strong buyers’ demand and sales of higher priced condos on the island (area code 32963) keep median price high.
• The most active price band was for condos priced over $2,000,000, with 6 sales and a sales ratio of 75%
• The median sales price for attached homes (condominiums) in June 2023 jumped by 53% to $988,000 compared to May as more higher priced condos were sold.
• The most active market for condos in June 2023 on the barrier island was again the Central Beach area with 23 condos for sale, 38 Pending Sales, 8 sales, 2.9 months of remaining inventory (absorption rate) and a Sellers Market. The increase agin in Pending Sales indicates that buyers’ appetite for condos on the island is still intact.

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.