Vero Beach Market Report for 32963 December 2020

The December 2020 Vero Beach Real Estate Market Report, shows that the real estate market on the barrier island in Vero Beach zip code 32963 continues to be red hot and a Seller’s Market. This real estate market report covers both single family homes and condominiums on the Vero Beach barrier island, zip code 32963.

Buyers continue to be very active driving the Vero Beach Real Estate Market higher amid low inventory and increased competition. The market activity in December 2020 surpassed the action of the same period last year as the market continues to be strong.

More people from all the major metropolitan areas to the north and south are coming here to Vero Beach to escape the over-crowded big cities as they are discovering that Vero Beach has so much to offer. The continuation of low interest rates continue to be the catalyst for the buyers to jump on the opportunity to own a home here in Vero Beach.

Sale prices in December 2020 continue their upward trend due to strong market action. . Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In December 2020, the Vero Beach single-family market in 32963 was a Seller’s Market with a 33% Sales Ratio.
• There were 169 single family homes for sale on the island and 55 were sold in December 2020.
• The inventory (homes available for sale) continues to decline and was 7% below last month’s and 44% less than the same period in 2019. This has created big competition among the buyers who have fewer homes to choose from resulting in multiple offers over asking price in some situations.
• Homes sold for a median of 95.14% of list price in December 2020, showing that buyers are making offers close to asking price.
• The most active price band was for single family homes priced over $2,000,000, with 14 sales and sales ratio 26%.
• In December 2020 the median sales price for single-family homes slightly jumped again to $950,000 compared to $725,000 in November.
• The most active market in December 2020 was the Beach City area with 31 homes for sale, 11 Pending Sales, 14 sales, only 2.2 months of remaining inventory (absorption rate) and an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 140 condos for sale on the island and 32 were sold in December 2020.
• The Vero Beach condominium market in 32963 was active and a Seller’s Market with an 23% Sales Ratio but with 11% fewer sales than last month.
• Condos sold for a median of 93.36% of list price in December 2020 indicating that the buyers are still interested in condos on the island amid low inventory.
• The most active price band was $250,000-$300,000, with 6 sales and an impressive sales ratio of 23%.
• The median sales price for attached homes (condominiums) decreased by 21% to $385,000 compared to last month mainly due to sales of lower-end condos on the island.
• The most active market for condos in December 2020 was the South Beach area with 15 condos for sale, 9 Pending Sales, 6 sales, only 2.5 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.