Vero Beach Market Report for 32963 September 2022

The Vero Beach Real Estate Market Report for zip code 32963 in September 2022 shows that the market has softened a bit and it is now a Balanced market. The mortgage rate increase has put a damper on buyers’ appetite for home purchasing. As the summer came to a close, the low inventory continues to affect sales. Sellers are now preparing for the new winter season hoping that last year’s market activity will be as strong as last year’s.

Vero Beach real estate sales in September 2022 were muted during the summer months. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In September 2022, the Vero Beach single-family market in 32963 was a Balanced Market with a 19% Sales Ratio.
• There were 106 single family homes for sale on the island and 20 were sold in September 2022.
• The inventory (homes available for sale) In August was slightly higher than in August and at almost the same level as during the same period in 2021.
• Homes sold for a median of 95.17% of list price in September 2022, an indication that the market is softening and buyers are not eager to make bids close to asking.
• The most active price band was again single family homes priced over $2,000,000 , with 3 sales and sales ratio of 25%.
• In September 2022 the median sales price for single-family homes slightly decreased to $1,227,500. The prices appear to have stabilized for now.
• The most active market for single family homes on the island in September 2022 was again the Central Beach area with 26 homes for sale, 19 Pending Sales, 11 sales, and 2.4 months of remaining inventory (absorption rate) and a Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 47 condos for sale on the island and 12 were sold in September 2022.
• The Vero Beach condominium market in 32963 was muted but still a Seller’s Market with an 26% Sales Ratio amid increasing inventory.
• The inventory (condos available for sale) in September 2022 decreased by 29% compared to August and almost at the same level as the same period in 2021.
• Condos sold for a median of 95.14% of list price with an average of 28 Days on the Market (DOM) in September 2022, an indication that the real estate market for homes on the island (area code 32963) is softening.
• The most active price band was $1,000,000 to $2,000,000, with 5 sales and a sales ratio of 83%!
• The median sales price for attached homes (condominiums) in September 2022 slightly decreased by 9% to $635,000 compared to August.
• The most active market for condos in September 2022 on the barrier island was again the Central Beach area with 26 condos for sale, 37 Pending Sales, 5 sales, 5 months of remaining inventory (absorption rate) and still 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.