Sebastian
RECENTLY SOLD
www.FLColdwellBanker.com
SOLD $505,000
SOLD $369,900
6535 114th Lane
9448 52nd Court
7200 S US Hwy 1
SOLD 349,000
SOLD $310,000
SOLD $290,000
13170 77th Street
6275 N Mirror Lake Drive
SOLD $900,000
200 Sebastian Crossings Blvd
SOLD $240,000 599 Redwood Court
SOLD $219,150 349 Brookedge Terrace
SOLD $209,000 585 Albatross Terrace
Homes selling fast! Call to see how much your home is worth! 772-589-7777 SOLD $182,000
SOLD $175,000
158 Spring Valley Avenue
873 Wentworth Street
VERO BEACH OFFICE 1950 US-1 Vero Beach, FL 32960 772-778-2029
SEBASTIAN OFFICE 1209 US-1 Sebastian, FL 32958 772-589-7777
VERO BEACH ISLAND OFFICE 4625 Florida A1A Vero Beach, FL 32963 772-231-4880
www.FLColdwellBanker.com
2018 Sebastian 1st Quarter Real Estate
MARKET REPORT
Price Point
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
Under
2018
8
3
1.1
$76,163
$100,000
2017
9
3
1.0
$75,719
Change
-11.1%
+0.0%
+12.5%
+1.0%
2018
120
97
2.4
$188,101
2017
128
111
2.6
$188,958
Change
-6.3%
-12.6%
-6.8%
+0.0%
$250,000-
2018
37
82
6.6
$299,127
$500,000
2017
35
62
5.3
$288,140
Change
+5.7%
+32.3%
+25.1%
+4.0%
Over
2018
4
23
17.3
$666,250
$500,000
2017
1
20
60.0
$705,000
Change
+300.0%
+15.0%
-71.3%
-5.0%
2018
169
205
3.6
$218,427
2017
173
196
3.4
$206,116
Change
-2.3%
+4.6%
+7.1%
+6.0%
$100,000 to $250,000
Total
The housing market here, while increasing in price by 6%, is still a very affordable community. Buyers love Sebastian for its friendly small town feeling and great values. While the average home price is still only $218,427, buyers that used to be able to find homes under $100,000 are now out of luck. This will be the last quarter that we look at homes under $100,000 as a market segment with only 8 sales at this price point. At the same time, new construction of larger homes, larger lot sizes available and waterfront values are bringing in more sales in the luxury category. While still a small market segment, the number of homes selling over $500,000 is increasing and probably will become more significant in the future. Inventory below $250,000 is very tight, with the average home selling in about 10 weeks. However above the $250,000 price, buyers can find a better supply
with over a 6 month supply on the market. Sellers trying to price too aggressively are seeing longer marketing times in the upper end of the market. So the mixed message is, buyers in the lower end market need to act quickly and bid aggressively or risk missing out. In the mid and upper end markets, there is a selection for buyers, and while prices are slowly increasing, sellers need to look closely at the competition and price their homes appropriately. If you would like to find the right price for your home in today’s changing maket, contact us at 772-589-7777. With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise is the largest full service real estate company in the area.