Vero Beach Market Report for 32963 February 2021

The February 2021 Vero Beach Real Estate Market Report for zip code 32963, shows that the real estate market on the barrier island in Vero Beach increased in strength, continues to be very active and in 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 pushing prices up as inventory is decreasing and increasing competition this winter season. The market activity in February 2021 surpassed the action of the same period in 2020 as buyers are aggressively looking for a home here in Vero Beach .

Sale prices in February 2021 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 February 2021, the Vero Beach single-family market in 32963 was a Seller’s Market with a 36% Sales Ratio.
• There were 116 single family homes for sale on the island and 42 were sold in February 2021.
• The inventory (homes available for sale) continues to decline and was 15% below last month’s and 65% less than the same period in 2020. This has created big competition among the buyers who have fewer homes to choose from resulting in an occasional bidding war.
• Homes sold for a median of 96.81% of list price in February 2021, showing that buyers are making offers close to asking price amid increased competition.
• The most active price band was for single family homes priced from $800,000 to $1,000,000, with 12 sales and sales ratio 71%.
• In February 2021 the median sales price for single-family homes decreased slightly to $906,000 compared to $955,000 in January.
• The most active market for single family homes on the island in February 2021 was the Central Beach area with 53 homes for sale, 47 Pending Sales, 18 sales, 2.9 months of remaining inventory (absorption rate) and an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 73 condos for sale on the island and 21 were sold in February 2021.
• The Vero Beach condominium market in 32963 was active and a Seller’s Market with an 29% Sales Ratio but with fewer sales than last month due to depleted inventory.
• The inventory (homes available for sale) has declined dramatically and was 41% below last month’s and 67% less than the same period in 2020. The lack of available condos for sale has created big competition among the buyers.
• Condos sold for a median of 96.55% of list price in February 2021 indicating that the buyers continue to make offers for condos on the island amid decreasing inventory.
• The most active price band was $1,000,000-$2,00,000, with 4 sales and a sales ratio of 44%.
• The median sales price for attached homes (condominiums) jumped by 56% to $526,000 compared to last month mainly due to sales of high-end condos on the island.
• The most active market for condos in February 2021 on the barrier island was the Central Beach area with 26 condos for sale, 51 Pending Sales, 9 sales, and only 3.1 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.