Vero Beach
RECENTLY SOLD
SOLD $674,000 2265 6th Court SE
SOLD $369,000
www.FLColdwellBanker.com
SOLD $380,000
SOLD $375,000
1220 Ansley Avenue SW
6150 37th Street
SOLD $364,000
SOLD $350,000
1010 Quail Court SW
6550 35th Lane
SOLD $345,000
SOLD $335,000
SOLD $290,000
4575 Ashley Lake Circle
5347 Antigua Circle
5149 Formosa Circle
113 12th Street SE
Homes selling fast! Call to see how much your home is worth! 772-778-2029 SOLD $284,,000 1271 Veranda Way
SOLD $279,000 2640 Heron Bay Lane SW
VERO BEACH ISLAND OFFICE 4625 Florida A1A Vero Beach, FL 32963 772-231-4880 VERO BEACH OFFICE 19 50 US-1 Vero Beach, FL 32960 772-778-2029
SEBASTIAN OFFICE 1209 US-1 Sebastian, FL 32958 772-589-7777
www.FLColdwellBanker.com
2018 Vero Beach 1st Quarter 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
223
154
2.1
$167,633
104
106
3.1
$103,952
$250,000
2017
270
198
2.2
$161,175
109
109
3.0
$97,800
Change
-17.4%
-22.2%
-5.8%
+4.0%
-4.6%
-2.8%
+1.9%
+6.0%
$250,001 to
2018
158
295
5.6
$325,512
1
16
48.0
$275,000
$500,000
2017
115
280
7.3
$322,471
7
9
3.9
$342,643
Change
+37.4%
+5.4%
-23.3%
+1.0%
-85.7%
+77.8%
+1144.4%
-20.0%
Over
2018
18
106
17.7
$768,395
1
5
15.0
$672,500
$500,000
2017
25
113
13.6
$649,907
6
3
1.5
$603,000
Change
-28.0%
-6.2%
+30.3%
+18.0%
-83.3%
+66.7%
+900.0%
+12.0%
2018
399
555
4.2
$257,254
106
127
3.6
$110,929
2017
410
591
4.3
$236,217
122
121
3.0
$136,694
Change
-2.7%
-6.1%
-3.5%
+9.0%
-13.1%
+5.0%
+20.8%
-19.0%
Total
While the majority of housing on the Vero Beach mainland still sells below $250,000, this bastian of affordable housing is quickly slipping away. The number of sales in this lower market has declined by 17% due strictly to the limited inventory. With only a 9 week supply of inventory, the sales under $250,000 are being captured by buyers who act fast. At the same time the market for mid-priced and luxury real estate on the mainland has grown by 30% this year. In the $250,000 to $500,000 market sales were up 37%, but a lot of new construction activity in this price range has helped keep the market better stocked with inventory and held prices flat. Over $500,000 new construction and price increases has created a growing market, but inventory is now approaching an 18 month supply. In this mid-priced and luxury market, there is an increasing number of homes
that expire without selling if they are priced too aggressively. 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 out the value of your home in today’s changing maket, contact us at 772-778-2029. 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.