Vero Beach Market Report for 32963 March 2021

The March 2021 Vero Beach Real Estate Market Report for zip code 32963, shows that the real estate market on the barrier island in Vero Beach became RED HOT and an Extreme Seller’s 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 see difficulty in finding the right home amid decreasing inventory and increased completion. The market activity in March 2021 surpassed again the action of the same period in 2020 as buyers continue to aggressively look for homes in Vero Beach .

Sale prices in March 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 March 2021, the Vero Beach single-family market in 32963 was an Extreme Seller’s Market with a 73% Sales Ratio.
• There were 106 single family homes for sale on the island and 77 were sold in March 2021.
• The inventory (homes available for sale) continues to decline and was 9% below last month’s and 70% less than the same period in 2020. This has created big competition among the buyers who have fewer homes to choose from resulting in occasional bidding wars.
• Homes sold for a median of 97.65% of list price in March 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 27 sales and sales ratio 96%.
• In March 2021 the median sales price for single-family homes jumped to $1,100,000 compared to $906,000 in February.
• The most active market for single family homes on the island in March 2021 was again the Central Beach area with 40 homes for sale, 60 Pending Sales, 26 sales, 1.5 months of remaining inventory (absorption rate) and an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 67 condos for sale on the island and 59 were sold in March 2021.
• The Vero Beach condominium market in 32963 was active and an Extreme Seller’s Market with an 88% Sales Ratio with jump in sales compared to last month despite the decreased inventory.
• The inventory (homes available for sale) continues to decrease and was 8% below last month’s and 70% less than the same period in 2020. The lack of available condos for sale has created big competition among the buyers.
• Condos sold for a median of 97.26% of list price in March 2021 indicating that the buyers continue to make offers close to the asking for condos on the island.
• The most active price band was $250,000-$300,000, with 8 sales and a sales ratio of 100%.
• The median sales price for attached homes (condominiums) slightly decreased to $500,000 compared to last month.
• The most active market for condos in March 2021 on the barrier island wasagain the Central Beach area with 22 condos for sale, 45 Pending Sales, 26 sales, and only 0.8 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.