Vero Beach Market Report for 32963 September 2024

The Vero Beach Real Estate Market Report for zip code 32963 in September 2024 shows that the real estate market was again a Buyers Market for Single Family homes and a Strong Buyers Market for condos on the barrier island despite an increase in market activity. Sales for both single family homes and condos jumped this month as demand for Vero Beach homes on the barrier island, however demand is still weak.

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

Vero Beach Market for Single Family homes in 32963

• In September 2024, the Vero Beach single-family homes market in 32963 was again a Buyers Market with 13% Sales Ratio.
• There were 159 single family homes for sale on the island and only 20 were sold in September 2024.
• The inventory (homes available for sale) in September 2024 increased by 6% versus August of 2024. If we see an continued increase in inventory while demand is weak, it is likely that will see that sale prices will keep adjusting downwards.
• Homes sold for a median of 92.17% of list price with an average of 132 Days on the Market (DOM) in September 2024, an indication that the buyers were still hesitant to pull the trigger.
• The most active price band for single family homes on the barrier island was again for homes between $500,000 and $1,000,000, with 11 sales and sales ratio of 39%.
• In September 2024 the median sales price for single-family homes slightly dropped by 29% to $929,500 compared to August, mainly due to more sales of lower priced homes indicating that the prices have stabilized for single family homes in Vero Beach.
• The most active market for single family homes on the island in September 2024 was the Central Beach area with 81 homes for sale, 15 Pending Sales, but only 3 sales, 27 months of remaining inventory (absorption rate) and a Strong Buyers Market..

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 138 condos for sale on the island and only 10 were sold in September 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 weak.
• The inventory (condos available for sale) in September 2024 slightly decreased again compared to August as some sellers were hesitant to list their condos while waiting to see a better market environment.
• Condos sold for a median of 93.73% of list price as the average of the Days on the Market (DOM) of 97 days as buyers were again more hesitant to commit to a purchase.
• The most active price band was for condos priced between 800,000 and $1,000,000 , with only 3 sales and a sales ratio of 19%
• The median sales price for attached homes (condominiums) in September 2024 jumped by 83% to $710,000 compared to August as more higher priced condos were purchased by the buyers this month.
• The most active market for condos in September 2024 on the barrier island was the Central Beach area with 67 condos for sale, 27 Pending Sales, 7 sales and 9.6 months of remaining inventory (absorption rate) and a Balanced 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.