2014 Vero Beach Island Year End Real Estate
MARKET REPORT
OCEAN SHORES CONDOMINIUM FULL OCEAN VIEW • VERO BEACH Offered at $525,000
VERO BEACH 1950 US Hwy. 1 772.778.2029
ISLAND PREVIEWS 4625 Hwy. A1A 772.231.4880
SEBASTIAN 1209 US Hwy. 1 772.589.7777
N. HUTCHINSON 4007 N. Hwy. A1A 772.464.7007
2014 Vero Beach Island Year End Real Estate Report Whether you’re thinking about buying a home, selling your home, or you’re just curious about your home’s value, it’s important to know about trends in the real estate market that could impact your home’s value and your financial security. Unfortunately, information about price appreciation and sales activity that is published by traditional media forums is very general and may not be consistent with what’s happening in your neighborhood or price point. Information contained in this report is designed to give you greater insight into trends that are occurring in your neighborhood, by price point. In general, 2014 proved to be another good year for real estate sales activity, but there was a dramatic difference between the condominium market and single family housing market. The strong rebound of singlefamily sales in 2013 did not carry over to 2014. A drop in the number of homes available for sale likely led to fewer sales, yet surprisingly, there was only a slight increase in prices last year. A full recovery appears to be underway for homes sold over $1 million, where the number of sales and prices both increased by doubledigits. Condominium market activity was strong across all price points. A double-digit increase in sales and a double-digit drop in the number of condominiums available for sale, led to significant price appreciation across the board. In 2015, we expect residential activity on the Island to remain strong, with prices continuing to increase. Call us today for detailed information about your home’s value in today’s market. Contact us directly at our Vero Beach US 1 office 772-778-2029, our Island Previews office 772-231-4880, our Sebastian office 772589-7777, or our North Hutchinson office 772-464-7007. All discussions are strictly confidential. If you would like to continue getting our quarterly updates, just let us know. Email us at Schlitt@ ColdwellBanker.com. We will make sure that a copy is delivered to you quarterly. All the best,
Linda Schlitt Gonzalez and Steven Schlitt, Owners
VERO BEACH ISLAND SINGLE FAMILY HOMES YEAR END 2014 COMPARISON TO YEAR END 2013 Price Point Under $500,000
$500,001 to $1,000,000
Over $1,000,000
Total
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
2014
183
70
4.6
$364,834
2013
199
108
6.5
$361,984
Change
-8%
-35%
-29%
+1%
2014
148
117
9.5
$690,427
2013
155
137
10.6
$704,347
Change
-5%
-15%
-10%
-2%
2014
98
151
18.5
$2,173,356
2013
81
187
27.7
$1,752,090
Change
+21%
-19%
-33%
+24%
2014
429
338
9.5
$890,296
2013
435
432
11.9
$742,822
Change
-1%
-22%
-20%
+20%
VERO BEACH ISLAND CONDOS YEAR END 2014 COMPARISON TO YEAR END 2013 Price Point Under $500,000
$500,001 to $1,000,000
Over $1,000,000
Total
Year
Condos Sold
Current Listings
Month’s Supply
Average Price
2014
242
112
5.6
$272,904
2013
220
171
9.3
$241,505
Change
+10%
-35%
-40%
+13%
2014
50
30
7.2
$706,075
2013
34
49
17.3
$652,091
Change
+47%
-39%
-58%
+8%
2014
10
17
20.4
$1,548,000
2013
7
26
44.6
$1,428,571
Change
+43%
-35%
-54%
+8%
2014
302
159
6.3
$386,842
2013
261
246
11.3
$326,828
Change
+16%
-35%
-44%
+18%
EXCLUSIVELY PRESENTING:
$675,000
$579,000
$479,000
935 Sunrise Terrace
2077 Indian Summer Lane
1760 Coral Way
$375,000
$355,000
$299,000
1480 Ocean Drive
5000 Highway A1A
1370 White Heron Lane
INDIAN RIVER SHORES • VERO BEACH
SOUTH COVE CONDO • VERO BEACH
SEASONS • VERO BEACH
OCEANGATE • VERO BEACH
SEAGROVE • VERO BEACH
DUNES LOT • VERO BEACH
WE INVITE YOU TO VIEW OUR ENTIRE COLLECTION AT: FLColdwellBanker.com
PRSRT SSTD ECRWSS U.S. POSTAGE PAID EDDMRETAIL
A SELECTION OF RECENT SOLDS:
Asking Price $950,000
SOMERSET BAY CONDO • VERO BEACH
SOLD for $950,000 Asking Price $930,000
OCEANRIDGE • VERO BEACH
9049 Summerset Bay Lane
SOLD for $930,000
1963 Ocean Ridge Drive
SOLD IN 13 DAYS
Asking Price $679,000
SOLD for $650,000
SILVER SHORES • VERO BEACH
713 Shore Drive
C
Asking Price $550,000
SOLD for $530,000 Asking Price $429,000
SOMERSET BAY CONDO • VERO BEACH
9031 Somerset Bay Lane
VEROMAR • VERO BEACH
576 Date Palm Road
oldwell 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.
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.
VERO BEACH ISLAND PREVIEWS 772.778.2029
772.231.4880
SEBASTIAN 772.589.7777
N. HUTCHINSON 772.464.7007
SOLD for $399,000