Vero Beach Market Report for 32963 November 2021

The November 2021 Vero Beach Real Estate Market Report for zip code 32963 shows that the market remains very competitive and an Extreme Seller’s Market The lack of inventory remains a problem as buyers have few homes to choose from pushing the prices even higher. The market is getting more active as the traditionally active and strong winter season is fast approaching.

Sales in November 2021 were almost at par with October but inventory has slightly decreased. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In November 2021, the Vero Beach single-family market in 32963 was an Extreme Seller’s Market with a 38% Sales Ratio.
• There were 77 single family homes for sale on the island and 29 were sold.
• The inventory (homes available for sale) this month slightly decreased compared to last month and was still 58% lower than in November of 2020.
• Homes sold for a median of 95.16% of list price in November 2021, an indication of a competitive real estate market for single family homes on the island.
• The most active price band was for single family homes priced over $2,00,000 , with 10 sales and sales ratio of 28%.
• In November 2021 the median sales price for single-family homes jumped by 27% to $1,250,500 mainly due to sales of higher priced homes. However, we continue to see some price reductions, another indication that prices are topping.
• The most active market for single family homes on the island in November 2021 was the South Beach area with 14 homes for sale, 17 Pending Sales, 10 sales, an impressive 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 36 condos for sale on the island and 17 were sold in November 2021.
• The Vero Beach condominium market in 32963 was active and still an Extreme Seller’s Market with an 47% Sales Ratio amid low inventory.
• The inventory (condos available for sale) in November 2021 decreased by 17% compared to last month and still 66% lower than the same period in 2020. The lack of available condos for sale is challenging for the buyers.
• Condos sold for a median of 98.18% of list price in November 2021 indicating that the buyers continue to make offers close to the asking price for condos on the island.
• The most active price band was $800,000 to $1,000,000, with 2 sales and a sales ratio of 67%.
• The median sales price for attached homes (condominiums) in November 2021 decreased by 24% to $540,000 compared to October, mainly due to sales of more mid-range priced condos on the barrier island.
• The most active market for condos in November 2021 on the barrier island was the Central Beach area with 18 condos for sale, 37 Pending Sales, 6 sales, 3.0 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.