Vero Beach Market Report for 32963 October 2023

The Vero Beach Real Estate Market Report for zip code 32963 in October 2023 shows that the real estate market status remains the same with condos in balanced market and single family homes in a buyers market. The inventory was slightly increased again this month in anticipation for the winter season but buyers’ demand for Vero Beach homes on the barrier island continues to subside.

Vero Beach real estate sales increased in October 2023 and slightly higher than the same period in 2022. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In October 2023, the Vero Beach single-family market in 32963 was a Buyers Market with only 11% Sales Ratio.
• There were 164 single family homes for sale on the island and only 18 were sold in October 2023.
• The inventory (homes available for sale) in October 2023 increased by 20% versus last month. If inventory starts to increase relative to demand, it is likely that will see some more price adjustments, at least until the winter season arives.
• Homes sold for a median of 93.04% of list price with an average of 118 Days on the Market (DOM) in October 2023, a big jump from last month and an evidence of buyers demand is subsiding.
• The most active price band for single family homes on the barrier island was again for homes between $500,000 and $1,000,000, with only 4 sales and sales ratio of 12%.
• In October 2023 the median sales price for single-family homes jumped by 38% to $1,180,000 compared to September, as some buyers grabbed higher priced homes on the island.
• The most active market for single family homes on the island in October 2023 was the Central Beach area with 63 homes for sale, 17 Pending Sales, 7 sales, and 9.0 months of remaining inventory (absorption rate) and a Buyers Market. However, South Beach area slightly favored the sellers.

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 91 condos for sale on the island and only 16 were sold in October 2023.
• The Vero Beach condominium market in 32963 remained in a Balanced Market with 18% Sales Ratio as buyers are still interested in condos on the island and the higher priced ones.
• The inventory (condos available for sale) in October 2023 increased by 18% compared to September but more sellers are waiting to see a better economic environment in anticipation for the upcoming season.
• Condos sold for a median of 97.55% of list price with an average of 55 Days on the Market (DOM) in October 2023.
• The most active price band was for condos priced from $800,000 to $1,000,000, with 4 sales and a sales ratio of 25%
• The median sales price for attached homes (condominiums) in October 2023 jumped by 38% to $1,147,500 compared to September as more higher priced condos were sold on the island.
• The most active market for condos in October 2023 on the barrier island was the Central Beach area with 42 condos for sale, 29 Pending Sales, 9 sales, 4.7 months of remaining inventory (absorption rate) and a Sellers 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.