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You are here: Home / Market Reports / Island Single Family / Vero Beach Barrier Island Single Family Real Estate Market Report December 2018

Vero Beach Barrier Island Single Family Real Estate Market Report December 2018

January 15, 2019 By veroman

The Vero Beach Real Estate Market for single family homes the island in December 2018 was subdued as we saw fewer sales than the same period last year. Sale prices have stabilized as sellers are starting to be more willing to negotiate amid increased competition amid increasing inventory. Demand for high-end single family homes on the island continues albeit at slower pace than in 2017.

Vero Beach Real Estate Market Highlights – December 2018


Sales in December 2018 decreased by 25% compared to the same period in 2017. This month 28 homes were sold on the island. Inventory keeps increasing while demand remains subdued.

Vero Beach Island Single Family Market Statistics - For Sale vs Sold - December 2018 DATA SOURCE: MLS data as of 1/2/2019. Data believed to be accurate but not guaranteed.

The decrease in sales this month indicates a slowdown in buyer’s appetite for single family homes on the island..

Vero Beach Real Estate Market Statistics – December 2018

Market Statistics - Vero Beach Island Single Family December 2018 DATA SOURCE: MLS data as of 1/2/2019. Data believed to be accurate but not guaranteed.

Notes: (1) The average of all 12 months of inventory, (2) The average of all 12 months of List Price to Sale Price Ratio & (3) The average DOM in 12 month period.

The Vero Beach real estate market report for December 2018 shows that the buyers’ appetite for single family homes on the island is waning as the List to Sale price ratio of 87.7% is below the average and decreasing indicating that buyers are more cautious with their offers.

The Days On the Market (DOM) is slightly above average indicating decreasing demand for single family homes on the island.

The Absorption Rate, or months of inventory of 14 is another indicator that the buyers have an upper hand as it indicates a strong buyer’s market.

Vero Beach Real Estate Market Analysis – December 2018


The trend of sale prices is flat but manage a 17% increase over the same period last year and the median of sale prices was $736,000. The jump in sale prices in July was mainly due to sales of high-end and luxury homes, as we saw subdued sales of mid-range priced homes.

Market Statistics - Island Single Family Median of Sale Prices - December 2018 DATA SOURCE: MLS data as of 1/2/2019. Data believed to be accurate but not guaranteed.

An analysis on Price Ranges of homes sold versus homes that failed to sell (expired) and the days these homes were on the market (DOM) gives us a good indication for the overall health of the real estate market on the barrier island (zip code 32963) in Vero Beach. The Vero Beach real estate market chart below presents the number of single family homes Sold vs. Expired (failed to sell) the last 12 months and DOM of homes sold.

Market Statistics - Island Single Family - Sold vs Expired and DOM - December 2018 DATA SOURCE: MLS data as of 1/2/2019. Data believed to be accurate but not guaranteed.

More homes sold than expired in most low price ranges but the trend is changing on higher price ranges. Homes above $2M took the longest to sell with 377 DOM!

Buyers’ appetite for single family homes on the island is waning amid price increases in some areas and price ranges.

Detailed Real Estate Market Reports for single family homes in Vero Beach Barrier Island (zip code 32963) are provided to my clients. These reports offer market insights and market statistics. If you are interested in Vero Beach real estate, use the request form below or call me at 772-532-0945.

For buyers I provide detailed market analysis specific to each area. For sellers, I can provide a complimentary no-obligation property price analysis consultation and use the request form below for your request.

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Filed Under: Island Single Family, Market Reports Tagged With: Florida Real Estate, Market Reports, Market Statistics, Real Estate Market, Real Estate News, Vero Beach Real Estate

John Makris – REALTOR®

LPT Realty, LLC

1400 S. International
Parkway, Suite 1020
Lake Mary FL 32746 Phone: (772) 532-0945
John Makris - Vero Beach Realtor

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