Vero Beach Market Report for 32963 May 2021

The Vero Beach Real Estate Market Report for zip code 32963 in May 2021 shows that the market continues to be strong and buyers are facing challenges finding a home on the barrier island. The market activity in May 2021 surpassed again the action of the same period last year as buyers continue to aggressively look for homes in Vero Beach amid scarce inventory.

Sales in May 2021 have greatly exceeded those of the same period last year amid strong market action. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In May 2021, the Vero Beach single-family market in 32963 was an Extreme Seller’s Market with a 88% Sales Ratio.
• There were 74 single family homes for sale on the island and 65 were sold in May 2021.
• The inventory (homes available for sale) continues to decline and was 6% below last month’s and 76% less than the same period in 2020. Bidding wars is now the norm as buyers have fewer homes to choose from.
• Homes sold for a median of 98.75% of list price in May 2021, another indication that buyers are aggressively making offers close to asking price amid increased competition.
• The most active price band was for single family homes priced between $1,000,000 and $2,000,000 , with 18 sales and sales ratio 69%.
• In May 2021 the median sales price for single-family homes slightly increased to $1,000,000 compared to $977,500 in April.
• The most active market for single family homes on the island in May 2021 was again the Central Beach area with 28 homes for sale, 63 Pending Sales, 24 sales, 1.2 months of remaining inventory (absorption rate) and an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 52 condos for sale on the island and 43 were sold in May 2021.
• The Vero Beach condominium market in 32963 was very active and an Extreme Seller’s Market with an 83% Sales Ratio amid depleting inventory.
• The inventory (homes available for sale) continues to decrease and was 9% below last month’s and 75% 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 98.51% of list price in May 2021 indicating that the buyers continue to make offers close to the asking for condos on the island.
• The most active price band was $350,000 to $400,000, with 7 sales and a sales ratio of an incredible 170%!.
• The median sales price for attached homes (condominiums) increased by 29% to $5150,000 compared to last month.
• The most active market for condos in May 2021 on the barrier island was again the Central Beach area with 21 condos for sale, 38 Pending Sales, 15 sales, 1.4 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.