2014 Vero Beach Mainland Year End Real Estate
MARKET REPORT
2265 7th Avenue SE Riverpoint • Vero Beach Offered at $549,900
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 Mainland 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 and appreciation. While single-family home sales activity increased, the average price of homes remained nearly the same. Condominium sales on the mainland experienced mixed results. Average condominium prices increased 16% on the lower end of the market, but dropped significantly for condominium residences sold between $250,000 and $500,000. With limited sales above $1,000,000, it’s difficult to track trends that apply to this sector of the market. In 2015, we expect the full recovery that has occurred for residential prices under $250,000 to also occur in the $250,000-$500,000 price range. This could lead to a moderate increase in prices. We may not see healthy market conditions for residential properties sold over $500,000 until 2016. We invite your inquiries and welcome the opportunity to be of service to you. Please 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 MAINLAND SINGLE FAMILY HOMES YEAR END 2014 COMPARISON TO YEAR END 2013 Price Point Under $250,000
$250,001 to $500,000
Over $500,000
Over $1,000,000
Total
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
2014
1,304
393
3.6
$129,803
2013
1,228
441
4.3
$128,104
Change
+6%
-11%
-16%
+1%
2014
295
234
9.5
$328,865
2013
290
203
8.4
$326,176
Change
+2%
+15%
+13%
+1%
2014
37
53
17.2
$662,060
2013
28
52
12
$653,548
Change
+32%
+2%
+43%
+1%
2014
3
11
44
$1,643,333
2013
0
10
0
0
Change
300%
+10%
0%
0%
2014
1,639
691
5.1
$180,418
2013
1,546
706
5.5
$174,775
Change
+6%
-2%
-7%
+3%
VERO BEACH MAINLAND CONDOS YEAR END 2014 COMPARISON TO YEAR END 2013 Price Point Under $250,000
$250,001 to $500,000
Over $1,000,000
Total
Year
Condos Sold
Current Listings
Month’s Supply
Average Price
2014
455
165
4.4
$73,538
2013
412
211
6.1
$63,312
Change
+10%
-22%
-28%
+16%
2014
5
6
14.4
$354,000
2013
7
7
12
$384,714
Change
-29%
-14%
+20%
-8%
2014
3
4
16
$796,666
2013
6
5
10
$608,583
Change
-50%
-20%
+60%
+31%
2014
463
175
4.5
$81,253
2013
425
223
6.3
$82,120
Change
+9%
-22%
-29%
-1%
EXCLUSIVELY PRESENTING:
$699,000
$325,000
$310,000
7325 65th Street
190 56th Drive
6421 34th Lane
INDIAN RIVER FARMS • VERO BEACH
HAMMOCK LAKES • VERO BEACH
OAK CHASE • VERO BEACH
$302,900
$284,900
$215,007
6453 34th Place
3945 8th Lane
5007 Corsica Square
OAK CHASE • VERO BEACH
LAURELS • VERO BEACH
ISLES AT WATERWAY VILLAGE • 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: S OL D IN 2 7 DAYS!
Listing Price $450,000
BLACK BEAR RESERVE • VERO BEACH
SOLD for $351,000
SOLD for $430,000 Listing Price $377,500
SEASONS • VERO BEACH
9165 Seasons Terrace
6315 Salmon Place
SOL D I N 2 7 DAYS !
Listing Price $375,000
SOLD for $356,000 Listing Price $235,000 SOLD for $225,000 Listing Price $189,000 SOLD for $180,000 HAMMOCK LAKES • VERO BEACH
RIVERWIND • VERO BEACH
5355 1st Square
1154 Riverwind Circle
C
GROVE ISLE CONDO • VERO BEACH
839 Lake Orchid Circle
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