End of Year Market Report for Vero Beach Island 2018

2018 End of Year Vero Beach Island

RECENTLY SOLD

SOLD $899,000

SOLD $1,250,000

SOLD $900,000

4800 Highway A1A 410

965 Tulip Lane

530 Acacia Road

SOLD $825,000 656 Bouganvillea Lane

SOLD $774,000

SOLD $695,000

1515 Ocean Drive #9

835 Iris Lane

SOLD $636,000

SOLD $620,000

SOLD $415,000

711 Tides Road

702 Lantana Lane

406 Lilac Road

Call to see how much your home is worth!

772-231-4880 SOLD $450,000 416 Holly Road

SOLD $333,000 640 Date Palm Road

Vero Beach Island Global Luxury 4625 Florida A1A Vero Beach FL, 32963 772-231-4880 North Hutchinson Island 4007 Florida A1A Fort Pierce FL, 34949 772-464-7007

Vero Beach Office 1950 US-1 Vero Beach FL, 32960 772-778-2029

www.FLColdwellBanker.com

2018 Vero Beach Island End of Year Real Estate

MARKET REPORT

Price Point

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

Condos Sold

Current Listings

Month’s Supply

Average Price

Under

2018

103

53

6.2

$413,464

153

102

8.0

$307,464

$500,000

2017

124

34

3.3

$406,535

130

95

8.8

$303,719

Change

-16.9%

+55.9%

+87.7%

+2.0%

+17.7%

+7.4%

-8.8%

+1.0%

$500,000 to

2018

178

144

9.7

$692,327

56

66

14.1

$640,754

$1,000,000

2017

163

138

10.2

$712,163

59

43

8.7

$657,935

Change

+9.2%

+4.3%

-4.4%

-3.0%

-5.1%

+53.5%

+61.7%

-3.0%

Over

2018

132

196

17.8

$2,040,788

17

26

18.4

$1,608,876

$1,000,001

2017

124

191

18.5

$2,262,434

16

23

17.3

$1,742,344

Change

+6.5%

2.6%

-3.6%

-10.0%

+6.3%

+13.0%

+6.4%

-8.0%

2018

413

393

11.4

$1,053,765

226

194

10.3

$487,942

2017

411

363

10.6

$1,087,675

205

161

9.4

$517,947

Change

+0.5%

+8.3%

+7.7%

-3.0%

+10.2%

+20.5%

+9.3%

-6.0%

Total

Vero Beach Island Inventory Slows Home Sales Sales of single family homes on Vero Beach’s Island were flat for the first time in a number of years. The number of sales were steady at 413 vs 2017 411. There are more homes on the market this year causing the average days on market to rise 7.7% prices fell by 3% in 2018.

The annual appreciation flattened to 1 .2% plus to to 10% decline depending on the price range caused by rising inventory. We would expect that slower appreciation and longer time on market will continue in 2019.

The Vero Beach Island Condominium market was flat in 2018 with prices on average declining by 6%.

Inventory of available units has increased by 20.5% causing average days on market to increase to 10 months. We would anticipate 2019 to remain steady with nominal appreciation.

Coldwell Banker Paradise is a proud member of the Schmidt Family of Companies, making us part of the 20th largest brokerage in the country. Specializing in luxury and resort markets, we have offices on the East Caost and West Coast of Florida, throughout North America, and in the Virgin Islands.

If you are considering buying or selling, call us in Paradise find out the value of your current home, 772-231-4880.

FLColdwellBanker.com