Vero Beach Market Report for 32963 October 2024

The Vero Beach Real Estate Market Report for zip code 32963 in October 2024 shows that the real estate market remains a Buyers Market for Single Family homes and a Strong Buyers Market for condos on the barrier island with fewer sales than last month. Sales for both single family homes and condos declined in October as demand for Vero Beach homes on the barrier island is still weak.

Vero Beach real estate sale prices increased for single family homes but dropped for condos on the barrier island in October. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In October 2024, the Vero Beach single-family homes market in 32963 was again a Buyers Market with 10% Sales Ratio.
• There were 158 single family homes for sale on the island and only 16 were sold in October 2024.
• The inventory (homes available for sale) in October 2024 slightly decreased compared to September of 2024. If inventory remains at this level and as the winter season approaches with more buyers looking for a place in Vero Beach, we may see an uptick in prices.
• Homes sold for a median of 94.52% of list price with an average of 104 Days on the Market (DOM) in October 2024, an indication that the buyers were still hesitant to commit to a purchase.
• The most active price band for single family homes on the barrier island was again for homes between $1,500,000 and $2,000,000, with 5 sales and sales ratio of 22%.
• In October 2024 the median sales price for single-family homes slightly jumped by 61% to $1,500,000 compared to September, mainly due to more sales of higher priced homes indicating that buyers may still look for high-end single family homes on the barrier island in Vero Beach .
• The most active market for single family homes on the island in October 2024 was the Central Beach area with 76 homes for sale, 17 Pending Sales, but only 4 sales, 19 months of remaining inventory (absorption rate) and a Strong Buyers Market..

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 149 condos for sale on the island and only 10 were sold in October 2024.
• The Vero Beach condominium market in 32963 was again a Strong Buyers Market with only 7% Sales Ratio as buyers’ appetite for condos on the island was again very weak.
• The inventory (condos available for sale) in October 2024 slightly increased compared to September as some sellers were looking to unload of their condos amid increases in assessment fees due to latest legislation.
• Condos sold for a median of 96.12% of list price as the average of the Days on the Market (DOM) of 133 days as buyers were again more hesitant to purchase condos.
• The most active price band was for condos priced between 550,000 and $600,000 , with only 2 sales and a sales ratio of 33%
• The median sales price for attached homes (condominiums) in October 2024 decreased by 14% to $610,000 compared to September as more lower priced condos were purchased by the buyers this month and more priced adjustment were made to listing prices.
• The most active market for condos in October 2024 on the barrier island was the Central Beach area with 75 condos for sale, 16 Pending Sales, 6 sales and 12.5 months of remaining inventory (absorption rate) and a 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.