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