Vero Beach Market Report for 32963 October 2021

The October 2021 Vero Beach Real Estate Market Report for zip code 32963 shows that the market remains very active but the lack of inventory is still a problems for the buyers. The market remains as an Extreme Seller’s Market as we are approaching the traditionally active and strong winter season. The market activity in October 2021 again has surpassed the action of the same period in 2020 but the low inventory remains an issue.

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

Vero Beach Market for Single Family homes in 32963

• In October 2021, the Vero Beach single-family market in 32963 was an Extreme Seller’s Market with a 36% Sales Ratio.
• There were 78 single family homes for sale on the island and 28 were sold.
• The inventory (homes available for sale) slightly increased by 7% compared to last month but was still 62% lower than in October of 2020.
• Homes sold for a median of 96.75% of list price in October 2021, a testament of a very competitive real estate market for single family homes on the island.
• The most active price band was for single family homes priced between $1,00,000 and $2,000,000 , with 13 sales and sales ratio of 42%.
• In October 2021 the median sales price for single-family homes increased by 8% to $987,500 as price increases continue. However, we started to see some price reductions which indicates that prices are topping.
• The most active market for single family homes on the island in October 2021 was again the Central Beach area with 23 homes for sale, 37 Pending Sales, 10 sales, 2.3 months of remaining inventory (absorption rate) and still an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 43 condos for sale on the island and 19 were sold in October 2021.
• The Vero Beach condominium market in 32963 was again very active and an Extreme Seller’s Market with an 44% Sales Ratio amid low inventory.
• The inventory (homes available for sale) slightly increased by 13% compared to last month but still 69% lower than the same period in 2020. The lack of available condos for sale is challenging for buyers.
• Condos sold for a median of 98.19% of list price in October 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 5 sales and a sales ratio of 80%!.
• The median sales price for attached homes (condominiums) in October 2021 jumped by an amazing 49% to $695,000 compared to September, mainly due to sales of high-end condos on the barrier island.
• The most active market for condos in October 2021 on the barrier island was the Central Beach area with 22 condos for sale, 31 Pending Sales, 5 sales, 4.4 months of remaining inventory (absorption rate) and a 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.