This detailed November 2020 Vero Beach Real Estate Market Report, shows that the real estate market on the barrier island in Vero Beach zip code 32963 is still very active and a Seller’s Market. This real estate market report covers both single family homes and condominiums in zip code 32963.
The Vero Beach Real Estate Market continues its to be very active with buyers having hard time finding that dream home amid increased competition and depleting inventory. The market activity in November 2020 continues to surpass the action of the same period last year. Homes that are priced well within the market get multiple offers and sell fast.
More people from the major metropolitan areas to the north and south are coming here to Vero Beach to escape the over-crowded big cities while discovering the great value that Vero Beach offers to its residents and vacationers. The continuation of low interest rates contuse to be another catalyst for the buyers to jump on the opportunity to own a home here in Vero Beach.
Sales prices in prices in November 2020 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 November 2020, the Vero Beach single-family market in 32963 was a Seller’s Market with a 21% Sales Ratio.
- There were 182 single family homes for sale on the island and 39 were sold in November 2020.
- The inventory (homes available for sale) continues to decline and was 9% below last month’s and 42% less than the same period in 2019. This has created big competition among the buyers who have fewer homes to choose from.
- Homes sold for a median of 94.87% of list price in November 2020, showing that buyers are making offers close to asking price.
- The most active price band was $700,000-$800,000, with 5 sales and sales ratio 50%.
- In November 2020 the median sales price for single-family homes slightly jumped to $725,000 compared to $682,500 in October.
Vero Beach Market for Attached Homes/Condominiums in 32963
- There were 151 condos for sale on the island and 35 were sold in November 2020.
- The Vero Beach condominium market in 32963 was active and a Seller’s Market with an 23% Sales Ratio with 9% more sales than last month.
- Condos sold for a median of 95.65% of list price in November 2020 indicating that the buyers are rushing to make offers and pushing sales volume up.
- The most active price band was $550,000-$600,000, with 5 sales and an impressive sales ratio of 100%.
- The median sales price for attached homes (condominiums) jumped by 41% to $490,000 compared to last month mainly due to sales of high end condos on the island.
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