Vero Beach
RECENTLY SOLD Laurie Blakelock, Broker Associate 772-532-2706
SOLD $674,000 2265 6th Court SE
SOLD $369,000
5149 Formosa Circle
SOLD $345,000
4575 Ashley Lake Circle
SOLD $284,,000 1271 Veranda Way
www.FLColdwellBanker.com
SOLD $380,000
SOLD $375,000
SOLD $364,000
SOLD $350,000
1220 Ansley Avenue SW
1010 Quail Court SW
6150 37th Street
6550 35th Lane
SOLD $335,000
SOLD $290,000
5347 Antigua Circle
113 12th Street SE
SOLD $279,000
Homes are selling fast! Call to see how much your home is worth! Laurie Blakelock Broker Associate 772-532-2706
2640 Heron Bay Lane SW
ABOUT LAURIE BLAKELOCK Laurie Blakelock has been an Indian River County resident for over 30 years. Originally from Dayton, Ohio, she attended the University of Kentucky because of her “love for horses.” She was as a former hunter/jumper rider in high school. She began her professional life as a registered nurse, but started her career in real estate with Coldwell Banker Ed Schlitt in 2001 earning the GRI and ABR accreditations. Laurie combines her real estate knowledge with her passion for horses as Coldwell Banker Paradise’s premier Equine Property Specialist. “It is great to work with Linda, Steve and the fantastic group of professionals they have here. I have been down to Wellington several times over the past 2 years, and Indian River County provides an affordable alternative. We are in between Wellington, Tampa and Ocala, 2 additional major showing areas, and as polo becomes more and more popular, who can argue that Vero Beach is a nicer area to ride and train horses? I believe that this area is ripe for equine property development, and I am excited to represent Coldwell Banker in this endeavor.” - Laurie Blakelock
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.
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.
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.
If you would like to find out the value of your home in today’s changing market, contact Laurie Blakelock, Broker Associate at 772-532-2706 or email her at lblakelock@msn.com. 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.