Vero Beach Island 1st Quarter Market Report - 2018

Vero Beach Island

RECENTLY SOLD

SOLD $3,053,500 420 Coconut Palm Road

www.FLColdwellBanker.com

SOLD $935,000

SOLD $800,000

2100 Seminole Shores Lane

370 Riverway Court

SOLD $469,000

SOLD $517,500

SOLD $470,000

2265 Sea Turtle Lane

9655 E Maiden Court

5680 Hwy A1a #113

SOLD $385,000

SOLD $380,000

SOLD $365,000

796 Dahlia Lane

556 Dahlia Lane

224 N Carmel Court

Homes selling fast!

Call to see how much your home is worth!

772-464-7007 SOLD $362,000 1556 Smugglers Cove

SOLD $215,000 4410 Hwy A1a #308

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

2018 Vero Beach Island 1st Quarter Real Estate

MARKET REPORT

Price Point

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

Condos Sold

Current Listings

Under

2018

17

46

8.1

$403,147

33

108

9.8

$32,009

$500,000

2017

26

50

5.8

$400,453

27

95

10.6

$299,407

Change

-34.6%

-8.0%

-40.7%

+1.0%

+22.2%

+13.7%

-7.0%

+8.0%

$500,001 to

2018

48

169

10.6

$671,563

17

52

9.2

$631,606

$1,000,000

2017

36

143

11.9

$705,493

14

30

6.4

$654,393

Change

+33.3%

+18.2%

-11.4%

-5.0%

+21.4%

+73.3%

+42.7%

-3.0%

Over

2018

26

214

24.7

$2,647,910

1

21

63.0

$2,300,000

$1,000,000

2017

22

199

27.1

$2,178,234

6

23

11.5

$1,754,167

Change

+18.2%

+7.5%

-9.0%

+22.0%

-83.3%

-8.7%

+447.8%

+31.0%

2018

91

429

14.1

$1,186,090

51

181

10.6

$463,992

2017

84

392

14.0

$996,794

47

148

9.4

$590,862

Change

+8.3%

+9.4%

+1.0%

+19.0%

+8.5%

+22.3%

+12.7%

-21.0%

Total

Home sales in the 32963 island market continue to be robust. While the number of homes selling under $500,000 declined, this was only because many homes that used to be in that market segment have moved into the next price tier higher. Sale of homes between $500,000 and a million rose by 33% in the first quarter.

Buyers have been plentiful so far this year and the number of homes sold has increased 8%. At the same time, prices have risen and motivated sellers to action The inventory of homes on the market has increased by over 9% Inventory in all market segments has grown with over a 12 month supply now available. Buyers have a good selection in most

Month’s Supply

Average Price

market segments over $500,000. Increasingly sellers unwilling to compromise on their price are staying on the market for longer periods.

With the tax cut and worries about equity markets, the market should remain strong this year. However, with the increasing supply of inventory price increases will probably slow.

If you would like to find the right price for your home in today’s changing maket, contact us 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.