2015 Mid-Year Market Report for the Treasure and Space Coasts

2015 Mid-Year Real Estate

M A R K E T R E P O RT for Florida’s Space and Treasure Coast

601 Bridgewater Lane SW, Vero Beach Offered at $569,900

COLDWELL BANKER PARADISE Shrinking Inventory and Increasing Prices are Keeping the Space and Treasure Coast Housing Markets Tight Tightening inventory levels, continued economic recovery and the lower interest rates are keeping the Space and Treasure Coast housing market competitive, reports Coldwell Banker Paradise in their just released Mid-Year Market Report for 2015.

With nine offices serving 100 miles of coast along Central East Coast Florida, Coldwell Banker Paradise is uniquely positioned to provide essential data and analysis on the local housing market through its 240 agents. “Our agents are the experts, they are in the neighborhoods, seeing what is selling and why. Want to know what is happening in your neighborhood, as compared to your surrounding county and the region?, ask our agents today,” urges Co-Owner and Broker Linda Gonzalez. Every quarter, through their Market Report, Coldwell Banker Paradise agents make available the latest data and trends to their clients.

Individual market reports can be obtained from our agents, or by sending a request to marketing@cbparadise.com, please make sure to indicate which market report you would like to see: St. Lucie County, Hutchinson Island,Vero Beach Mainland, Vero Beach Island, Sebastian River Area, Brevard County Mainland or Beachside Brevard County.

“As you can see in this summary, and even more in each individual market report, pricing and sales can be dramatically different for each segment of the market, even those a mere 25 miles apart,” cautioned Gonzalez. Add to that the fact that many online comparative analysis tools can be more than10% off, and “you can see where it really does take a knowledgeable, local agent to give you the most accurate and up to date information,” added Gonzalez.

Coldwell Banker Paradise has been family owned and operated for more than 60 years and as such is a trusted local leader in residential and commercial real estate sales, property management and sales in niche markets such as oceanfront, riverfront, resort, new home and luxury properties.

VERO BEACH MAINLAND 772-778-2029

VERO BEACH ISLAND 772-231-4880

SEBASTIAN MAINLAND 772-589-7777

INDIALANTIC BREVARD 321-951-3300

ST. LUCIE COUNTY Increasing Prices, Low Inventory Driving St Lucie Housing Up According to the St. Lucie County Mid-Year Market Report, prices on single family homes in St. Lucie County will continue to rise, especially at the lower end of the market. The under $250k market saw the most growth in sales, with sales up nearly13% over this time last year. But, cautions Co-Owner and Broker Linda Gonzalez, “with inventory so tight on this lower end, it inevitably will result in price increases.” In contrast, single family homes priced in the mid-level, from $250-$500k saw the highest gain in inventory and lowest price increase. In fact, it was the only segment saw a price adjustment, down 1% in the average price from the first quarter. With the overall average price coming down 2% from the first half of last year,“it is a good sign that the market is self-correcting, modest price increases, and even price stabilization is a sign of a sober and steady economic growth,” added Gonzalez.

As for condominiums, the market reflects a thirst for those units priced under $250k while those over $250k are seeing a slight decrease in price. The lower end condos continue to be a prime market for investors looking for rental units.

NORTH HUTCHINSON 772-464-7007

OCEAN VILLAGE 772-489-6100

HUTCHINSON ISLAND 772-461-1324

FT. PIERCE MAINLAND 772-461-3250

PORT ST. LUCIE 772-878-3200

T h e L e a d e r o n t h e Tre a s u re a n d S p a c e C o a s t s : O u r M a r ke t i n g M a ke s t h e D i f f e re n c e

HUTCHSINSON ISLAND Island Properties Remain Quality Investment with Steady Increases Across the Treasure and Space Coast, island properties, both condominiums and single family homes, are a solid investment, with steady price increases reports Coldwell Banker Paradise in its Hutchinson Island Mid-Year Market Report. Sales are generally up across the price spectrum, averaging 21% (for single family homes) and 4% (for condos) increases over this time last year. With inventory levels dropping, again, across most segments, “we are likely to see prices (and therefore owner’s equity) steadily increase,” stated CoOwner and Broker Linda Gonzalez. The Hutchinson Island market has benefited from the return of second home buyers both from the North and the South. This coupled with the large numbers of retiring Baby Boomers looking to make Florida their permanent residence.

As for condominiums, the market is about “as stable as we’ve seen in years,” added Gonzalez. With small to negligible price increases, and inventory available, “now truly is the time to buy if you are looking for a quality condo at a fair price, that will only appreciate over time,” stated Gonzalez.

VERO BEACH MAINLAND Vero Beach Housing Market Continues its Upward Tick As reported in its Mid-Year Market Report, Coldwell Banker Paradise predicts that prices on single family homes on the mainland in Vero Beach will continue their steady pace upwards.

The under $250k market saw the most growth in sales, with sales up 11% over this time last year. With unemployment in Indian River down 1.1% and Florida’s job growth rate at 3.4%, consumer confidence continues its steady rise upwards. “If the trends continue, we will see prices continue their slow increase, but we also may see new construction on the horizon,” stated Gonzalez.

As for condominiums, sales continue to be strong for those units priced under $250k while those over $250k are seeing a slight decrease in price.

Prices on single family homes on the mainland in Vero Beach will continue their steady pace upwards.The under $250k market saw the most growth in sales, with sales up 11% over this time last year.

COLDWELL BANKER PARADISE VERO BEACH ISLAND

SEBASTIAN RIVER AREA

Now is the Time to Act on Island Properties

Decent Inventory Levels Allows Sebastian Housing Market to Remain Steady

All along the Space and Treasure Coast, island properties, both condominiums and single family homes, continue to be a solid investment, reports Coldwell Banker Paradise in its Vero Beach Island Mid-Year Market Report. With inventory levels dropping again across most segments, “we are likely to see prices (and therefore owner’s equity) steadily increase,” stated Co-Owner and Broker Linda Gonzalez. “You can see that with the overall 7% gain in the average price. The good news is that homeowners have regained essential equity, and new owner’s continue to take advantage of the lower interest rates,” added Gonzalez, “with the likelihood that interest rates will increase, now is the time to act.” As for condominiums, the market is moving consistently upwards, with average prices increasing almost 6% and inventory levels down almost 17% on average.

VERO BEACH MAINLAND 772-778-2029

VERO BEACH ISLAND 772-231-4880

SEBASTIAN MAINLAND 772-589-7777

INDIALANTIC BREVARD 321-951-3300

With the healthliest inventory levels on the Treasure and Space Coast, Sebastian continues to offer properties across all segments of the market, according to the Sebastian River Area Mid-Year Market Report. Consumers and investors alike seem to have been drawn to the $250-$500k market which saw the most growth in sales for the Sebastian area, with sales up nearly115% over this time last year. In contrast, single family homes priced on the higher end of the spectrum (over $500k) saw a price adjustment, with average prices falling 18%. “Modest price increases, and even price stabilization is a sign of a sober and steady economic growth,” added Gonzalez.

NORTH HUTCHINSON 772-464-7007

OCEAN VILLAGE 772-489-6100

HUTCHINSON ISLAND 772-461-1324

FT. PIERCE MAINLAND 772-461-3250

PORT ST. LUCIE 772-878-3200

BREVARD COUNTY MAINLAND Investors and Consumers Fighting for Brevard Housing Market Prices on single family homes in Brevard County will continue to rise, at all levels of the market, reports Coldwell Banker Paradise. In fact, average prices for single family homes in Brevard County increased across the spectrum, resulting in an overall price gain of 14.8%. This increase in the market comes as the job market has improved, and as investors continue to look for opportunities. As for condominiums, the market is moving consistently upwards, with average prices increasing 26% and inventory levels down almost 30% on average. “If ever there was a time to buy, it is now, with continued appreciation sure to come in the next months,” stated Gonzalez With winter looming, those living on the Treasure and Space coast might want to urge their family and friends to start looking now.

Average prices have been driven up across all segments -good news for sellers and homeowners.

The Brevard Island market is currently out-performing the Treasure Coast market...

BREVARD COUNTY ISLAND Sales for island properties in Brevard County are generally up across the price spectrum, averaging a 15.9% (for single family homes) and 16% (for condos) increases over this time last year.

With inventory levels dropping, again, across most segments, “we are likely to see prices (and therefore owner’s equity) steadily increase,” stated Co-Owner and Broker Linda Gonzalez. The Brevard Island market is currently out-performing the Treasure Coast market in inventory declines and price increases. “We are finding buyers in the Treasure Coast that we can move to the Brevard market due to better values and stronger employment data,” Gonzalez said. “Buyers should take advantage of the lower interest rates,” added Gonzalez. With inventory levels the tightest along Florida’s central coast, sellers are uniquely positioned to benefit. As for condominiums, the market is moving consistently upwards, with average prices increasing alomst 10% and inventory levels down almost 20% on average.

Contact your local Coldwell Banker Agent for your in-depth market analysis, or email marketing@cbparadise.com for a copy of our Mid-Year Market Reports.

THIS IS HOME FIND YOURS We can help.

WITH NINE OFFICES TO SERVE YOU. INDIALANTIC BREVARD 321-951-3300

NORTH HUTCHINSON 772-464-7007

SEBASTIAN MAINLAND

772-589-7777

VERO BEACH ISLAND

VERO BEACH MAINLAND

772-231-4880

772-778-2029

OCEAN VILLAGE

HUTCHINSON ISLAND

FT. PIERCE MAINLAND

PORT ST. LUCIE

772-489-6100

772-461-1324

772-461-3250

772-878-3200

W W W. F L C O L D W E L L B A N K E R . C O M