End of Year Market Report Vero Beach Mainland 2018

2018 End of Year Vero Beach

RECENTLY SOLD

SOLD $272,000

SOLD $540,000

SOLD $375,000

6520 Caicos Court

1525 56th Court

SOLD $221,000

SOLD $201,000

SOLD $177,000

9939 E Verona

2665 49th Ave

1632 Pointe West Way

SOLD $176,000

SOLD $175,000

5010 Harmony Circle 306

945 24th Place SW

3345 65th Ave

SOLD $145,000 1827 Aynsley Way 4

Call to see how much your home is worth!

772-778-2029 SOLD $130,000 2514 57th Circle 2514

SOLD $120,000 2021 Delmar Ave

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 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

1109

223

2.4

$177,499

412

118

3.4

$110,334

$250,000

2017

1146

187

2.0

$167,069

424

83

2.3

$103,752

Change

-3.2%

+19.3%

+23.2%

+6.0%

-2.8%

+42.2%

+46.3%

+6.0%

$250,001 to

2018

712

348

5.9

$327,094

16

12

9.0

$321,438

$500,000

2017

644

247

4.6

$322,717

28

92

39.4

$313,461

Change

+10.6%

+40.9%

+27.4%

+1.0%

-42.9%

-87.0%

-77.2%

+3.0%

Over

2018

84

112

16.0

$720,516

11

5

5.5

$1,046,818

$500,001

2017

93

94

12.1

$666,453

12

5

5.0

$618,667

Change

-9.7%

+19.1%

+31.9%

+8.0%

-8.3%

0.0%

+9.1%

+57%

2018

1905

683

4.3

$257,354

439

135

3.7

$141,493

2017

1883

528

3.4

$244,965

464

180

4.7

$129,723

Change

+1.2%

+29.4%

+27.9%

+5.0%

-5.4%

-25.0%

-20.7%

+9.0%

Total

Inventory Levels Biggest Challenge in Vero Beach Housing Market Vero Beach mainland market had an average 5% appreciation in 2018. sales increased 1.2% with 1905 homes sold. The biggest change occured in current inventory which rose 30% causing the days on market to rise to 4.3 months. This is still in the healthy range for sellers but it is a real benefit to buyers by providing more selection. We anticipate 2019 to continue this trend with positive appreciation in the 1% to 3% range. New construction costs continue to rise creating advantages for the existing home market.

Vero Beach Mainland Condominium market is one of the few areas where the inventory has fallen and days on

the market have as well. This caused a high appreciation of 9% in that market. Sales slowed as inventory shrunk. It is anticipated this trend will continue in 2019.

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 Coast 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, 772-778-2029.

FLColdwellBanker.com