Vero Beach Market Report for 32963 November 2024

The Vero Beach Real Estate Market Report for zip code 32963 in November 2024 shows that the real estate market became an Extreme Buyers Market for Single Family homes and also for condos on the barrier island amid increased inventory. Sales for both single family homes and condos declined again in November as demand for Vero Beach homes on the barrier island remains weak.

However, Vero Beach real estate sale prices increased for both single family homes and for condos on the barrier island in November. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In November 2024, the Vero Beach single-family homes market in 32963 became an Extreme Buyers Market with only 7% Sales Ratio.
• There were 187 single family homes for sale on the island and only 13 were sold in November 2024.
• The inventory (homes available for sale) in November 2024 increased by 18% compared to October. If inventory keeps increasing, as the winter season approaches with more buyers looking for a place in Vero Beach, we may see a steady flow of listings coming to the market.
• Homes sold for a median of 93.19% of list price with an average of 32 Days on the Market (DOM) in November 2024, an indication that the buyers were quick to close before any possible increase in interest rates.
• The most active price band for single family homes on the barrier island was again for homes between $500,000 and $1,000,000, but with only 3 sales and sales ratio of 9%.
• In November 2024 the median sales price for single-family homes slightly decreased by 8% to $1,380,000 compared to October, buyers were targeting single family homes on the lower price point on the barrier island in Vero Beach this month.
• The most active market for single family homes on the island in November 2024 was the Central Beach area with 93 homes for sale, 11 Pending Sales, but only 6 sales, 15.5 months of remaining inventory (absorption rate) and an Extreme Buyers Market..

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 173 condos for sale on the island and only 8 were sold in November 2024.
• The Vero Beach condominium market in 32963 was again an Extreme Buyers Market with only 5% Sales Ratio as buyers’ appetite for condos on the island was again very weak.
• The inventory (condos available for sale) in November 2024 increased by 16% compared to October as some sellers continue to unload of their condos amid increases in assessment fees due to latest legislation.
• Condos sold for a median of 93.49% of list price as the average of the Days on the Market (DOM) of 93 days as buyers were again more hesitant to purchase condos.
• The most active price band was for condos priced between 1,000,000 and $2,000,000 , with 4 sales sales and a sales ratio of 12%
• The median sales price for attached homes (condominiums) in November 2024 jumped by 41% to $862,500 compared to October as more higher priced condos were purchased by the buyers this month.
• The most active market for condos in November 2024 on the barrier island was the Central Beach area with 88 condos for sale, 14 Pending Sales, but only 1sale and 88 months of remaining inventory (absorption rate) and an Extreme Buyers 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.