Vero Beach Island EDDM - Feb 2018

Vero Beach Island

RECENTLY SOLD

SOLD $2,550,000 12770 Highway A1A

www.FLColdwellBanker.com

SOLD $2,350,000

SOLD $1,995,000

13000 Highway A1A

1811 E Barefoot Place

SOLD $1,111,000

SOLD $770,000

2316 Tamarind Drive

735 Painted Bunting Lane

1714 Coconut Drive

SOLD $715,000

SOLD $625,000

SOLD $569,000

SOLD $1,125,000

770 Greytwig Road

446 Holly Road

925 Reef Lane

Homes selling fast!

Call to see how much your home is worth!

772-464-7007 SOLD $687,500 3702 N A1A #601

SOLD $660,000 4400 N A1A #10S

VERO BEACH OFFICE 1950 US-1 Vero Beach, FL 32960 772-778-2029

VERO BEACH ISLAND OFFICE 4625 Florida A1A Vero Beach, FL 32963 772-231-4880

N HUTCHINSON ISLAND OFFICE 4007 Florida A1A Fort Pierce, FL 34949 772-464-7007

www.FLColdwellBanker.com

2017 Vero Beach Island Year End 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

2017

124

34

3.3

$406,535

130

95

8.8

$303,719

$500,000

2016

121

57

5.7

$388,892

155

81

6.3

$285,437

Change

+2.5%

-40.4%

-42.1%

+4.5%

-16.1%

+17.3%

+39.7%

+6.4%

$500,001 to

2017

163

138

10.2

$712,163

59

43

8.7

$657,935

$1,000,000

2016

144

128

10.7

$686,035

65

41

7.6

$681,498

Change

+13.2%

+7.8%

-4.7%

+3.8%

-9.2%

+4.9%

+14.5%

-3.5%

Over

2017

4

191

18.5

$2,262,434

16

23

17.3

$1,742,344

$1,000,000

2016

107

195

21.9

$2,146,264

5

21

50.4

$1,472,000

Change

-96.3%

-2.1%

-15.5%

+5.4%

+220.0%

+9.5%

-65.7%

+18.4%

2017

411

363

10.6

$1,087,675

205

161

9.4

$517,947

2016

372

380

12.3

$1,009,395

225

143

7.6

$426,222

Change

+10.5%

-4.5%

-13.8%

+7.8%

-8.9%

+12.6%

+23.7%

+21.5%

Total

Island Market Quickens Pace The Vero Beach Island housing market, which is always highly sought after, became an even hotter commodity in 2017. After a few sluggish quarters in 2016 held down sales numbers for last year, 2017 saw no such lull in activity. Inventory dropped in most housing segments but two market segments showed significant decreases.

Homes priced under $500k are becoming a thing of the past with inventory at only a three month supply. Overall sales and units were up over 10% and average prices increased 8%. It would seem likely that a 6-9% increase is again likely in 2018. The condo market brightened in 2017 and was also relatively strong but buyers continue

to have their choice with healthy inventory levels at all levels of the condo market. Pricing a home correctly remains one of the determining factors on if your Island home will sell quickly. Call your favorite Coldwell Banker Paradise agent for your free home evaluation today. Or call our offices at 772-231-4880. 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.