Vero Beach Market Report for 32963 October 2020

This October 2020 Vero Beach Real Estate Market Report, presents a detailed analysis of the real estate market on the barrier island in Vero Beach zip code 32963. This real estate market report covers both single family homes and condominiums.

The Vero Beach Real Estate Market continues to be very active and challenging for the buyers with increased competition in continuously decreasing inventory. The market activity in October 2020 has surpassed the action of the same period in 2019. Homes that are priced well within the market sell fast. The Covid-19 did not have the effect on the market that some had predicted.

More people are flocking to Florida and here to Vero Beach to escape the crowded big cities while discovering the value that Vero Beach offering such as great outdoors and cultural elements. The continuation of low interest rates is another factor enticing the buyers to jump on the opportunity to own a home here in Vero Beach.

Sales prices in October 2020 continued abated after the strong September action. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In October 2020, the Vero Beach single-family market in 32963 was a Balanced Market with a 19% Sales Ratio.
• There were 201 single family homes for sale on the island and 38 were sold in October 2020.
• The inventory (homes available for sale) continues to decline and was 4% below last month’s and 34% less than the same period in 2019. This has created competition among the buyers who have fewer homes to choose from.
• Homes sold for a median of 95.88% of list price in October 2020, showing that buyers are making offers close to asking price.
• The most active price band was $650,000-$700,000, with 6 sales and sales ratio 60%.
• In October 2020 the median sales price for single-family homes slightly decreased to $682,500 compared to $738,500 last month.

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 149 condos for sale on the island and 32 were sold in October 2020.
• The Vero Beach condominium market in 32963 was active and a Seller’s Market with an 21% Sales Ratio with slightly fewer sales than last month.
• Condos sold for a median of 97.03% of list price in October 2020 indicating that the buyers are rushing to make offers and pushing sales volume up.
• The most active price band was $300,000-$350,000, with 6 sales and sales ratio of 50%.
• The median sales price for attached homes (condominiums) increased by 10% to $347,000 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.