2015 Vero Beach Island Third Quarter Market Report

2015 Vero Beach Island Third Quarter Real Estate

M A R K E T R E P O RT

ISLAND PREVIEWS 4625 Hwy. A1A 772.231.4880

SEBASTIAN

1209 US Hwy. 1 772.589.7777

VERO BEACH N. HUTCHINSON 1950 US Hwy. 1 772.778.2029

4007 N. Hwy. A1A 772.464.7007

Vero Beach Island 3rd-Quarter Comparison 2015 to 2014 Island Properties Hard to Come By as Sales Slow and Inventory Tightens Portending good news for homeowner’s seeking to regain essential

All signs bode well for current Vero Beach Island

equity, island properties, both single family homes and condos,

homeowner’s:

remain at a premium with inventory low, and prices steadily

“Sellers can be confident that they have regained essential

increasing reports Coldwell Banker Paradise in their just released

equity. If a homeowner hasn’t looked into how much their

3rd Quarter Market Report for 2015. While single family homes

house or condo might be worth, they will be pleasantly

priced under $500k remain elusive, inventory at the higher end

surprised,” added Schlitt. With winter looming, and

of the market +$500K remains healthy. In fact, the biggest gain in

inventory continuing to decline, those living on the Treasure

sales came from luxury properties priced over $1m with a 19.2%

and Space coast might want to urge their northern family and

increase in sales over last year. With an overall price gain of 11%

friends to start looking now. “As far as investment property

for single family homes and nearly 8% for condominiums, consumers

is concerned, the window to buy at investment prices is

are benefitting from the steady recovery

closing,” urged Schlitt. Voted favorite Indian River

of 2015.

Sales have slowed overall,

As for condominiums, smart

but inventory continues to Newspapers, Coldwell Banker Paradise prides itself

investors continue to take advantage

decrease, making condos a

of low interest rates and stable price by buying up any remaining inventory.

contuing solid investment.

“Sales have slowed overall, but inventory

County brokerage by the readers of Treasure Coast on providing the best market knowledge available to home buyers and sellers through its Quarterly Market Reports and it’s knowledgeable agents. “Our agents are the experts, they are in the

continues to decrease, making condos a continuing solid

neighborhoods, seeing what is selling and why. Want to know

investment,” added Coldwell Banker Paradise Co-Owner and

what is happening in your neighborhood? Ask our agents

Broker Steven Schlitt. “This segment of the market, beachside con-

today,” stated Schlitt. You can reach our Island Previews office

dos, is uniquely poised for price increases over the winter months,”

at 772-231-4880.

added Schlitt.

SINGLE FAMILY HOMES Price Point Under $500,000

$500,000 to $1,00,000

Over $1,000,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2015

113

44

3.5

$383,426

2014

139

83

5.4

$357,314

Change

-18.7%

-47.0%

-35.1%

+7.3%

2015

115

89

7.0

$675,495

2014

123

86

6.3

$696,841

Change

-6.5%

+3.5%

+10.6%

-3.1%

2015

87

123

12.7

$2,149,491

2014

73

132

16.3

$2,187,033

Change

+19.2%

-6.8%

-21.9%

-1.7%

2015

315

256

7.3

$997,824

2014

335

301

8.1

$880,691

Change

-6.0%

-15.0%

-9.7%

+11.0%

CONDOS Price Point Under $500,000

$500,000 to $1,00,000

Over $1,000,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2015

164

72

4.0

$269,417

2014

200

103

4.6

$268,114

Change

-18.0%

-30.1%

-14.1%

+0.5%

2015

37

26

6.3

$671,095

2014

38

27

6.4

$706,546

Change

-2.6%

-3.7%

-1.2%

-5.0%

2015

9

17

17.0

$1,742,722

2014

7

19

24.4

$1,612,857

Change

+28.6%

-10.5%

-30.3%

+8.1%

2015

210

115

4.9

$403,331

2014

245

149

5.5

$374,537

Change

-14.3%

-22.8%

-10.4%

+7.7%

What is my home or condo worth in today’s market?

Did you know that some online comparative analysis tools can be more than 10% off? Only an expert in the local market can offer truly accurate local market analysis. As deep-rooted community members and leaders, Coldwell Banker Paradise agents have the big picture view, they know what sells and why, for what price, and how to get the most out of the market, both for buyers and a sellers. With Coldwell Banker Paradise agents you can trust that they are giving you the best information, the best service and the best experience available.

Call today to find out what your home is really worth. On the island in Vero Beach, call us at 772-231-4880.

E X C L U S I V E LY P R E S E N T I N G :

VERO BEACH $770,000 -3 BR/4BA/2CG +Den, renovated kitchen, private pool and large deck

INDIAN RIVER SHORES $634,900 -Totally updated 3/2 just steps to private beach access, with pool & spa

INDIAN RIVER SHORES $299,00 -Lovely beachfront corner unit, located next to the pool and steps from the shore

flcoldwellbanker.com

PRSRT SSTD ECRWSS U.S. POSTAGE PAID EDDMRETAIL

A SELECTION OF RECENT SOLDS:

Vero Beach Island, 2245 Beachside Lane $649,000

Vero Beach Island, 1005 Isla Verde Sq $860,000

THE RIGHT REPRESENTATION MAKES ALL THE DIFFERENCE Coldwell Banker Paradise is the largest real estate brokerage firm in the area, with 9 offices serving St. Lucie, Indian River and Brevard Counties. We are commited to providing the highest level of real estate services to our clients with comprehensive regional marketing.

For over 60 years our family-owned and operated company has assembled a highly trained and professional sales organization.

We have specialists in residential and commercial sales, leasing services for both, as well as a property management division.

Whether you are considering buying, selling, leasing or professional management of your property, give us a call. We are open 7 days a week for your convenience.

C O L D W E L L

B A N K E R

VERO BEACH MAINLAND

VERO BEACH ISLAND

772-778-2029

772-231-4880

SEBASTIAN MAINLAND

772-589-7777

INDIALANTIC BREVARD 321-951-3300

P A R A D I S E NORTH HUTCHINSON 772-464-7007