This August 2020 Vero Beach Real Estate Market Report, provides a detailed analysis of the local Vero Beach Real Estate Market on the barrier island, zip code 32963, for both single family homes and condominiums.
The Vero Beach Real Estate Market remains HOT! In August 2020, we saw a continuation of July’s strong activity on the Vero Beach Barrier Island Real Estate with more home sales compared to July and the same period in 2019. It really feels as we are in the middle of the traditionally string winter season we missed due to Covid-19
More people are coming to Vero Beach from both the north and south as this area offers great value, cultural elements and plenty of outdoor activities The low interest rates have also prompted buyers to jump on the opportunity to own a home here in Vero Beach.
Sales prices in August 2020 slightly increased from July and also from the same period in 2019. Following are some statistics for this month.
Vero Beach Market for Single Family homes in 32963
- In August 2020, the Vero Beach single-family market in 32963 became a Sellers Market with a 23% Sales Ratio.
- There were 222 single family homes for sale on the island and 52 were sold in August 2020.
- The inventory (homes available for sale) continues to decline compared to 2019 and creates competition among the buyers who have fewer homes to choose from.
- Homes sold for a median of 95.18% of list price in August 2020, showing that buyers are willing to make offers close to asking price.
- The most active price band was $800,000-$1,000,000, with 10 sales and sales ratio 37%.
- In August 2020 the median sales price for single-family homes increased to $762,500 compared to $760,000 last month.
Vero Beach Market for Attached Homes/Condominiums in 32963
- There were 183 condos for sale on the island and 23 were sold in August 2020.
- The Vero Beach condominium market in 32963 was a Buyers Market with an 13% Sales Ratio but sales in August were not as strong as in July.
- Condos sold for a median of 93.82% of list price in August 2020 indicating that the buyers are still willing to make offers.
- The most active price band was $300,000-$350,000, with 5 sales and sales ratio of 29%.
- The median sales price for attached homes (condominiums) slightly decrease by 4% to $333,000 compared to last month.
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.
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