2017 Vero Beach Island 3rd Quarter Real Estate Market Report

2017 Vero Beach Island 3rd Quarter Real Estate

MARKET

REPORT

Dustin Haynes

Broker Associate

772.205.1931

Dustin@VeroBeachProperty.com

PARADISE 4625 Florida A1A, Vero Beach, 32963

Vero Beach Island 3rd Quarter Comparison 2017 to 2016

Strong Sales Lead to Healthy, Brisk Market on Island Strong sales at all levels of the Vero Beach Island

National trends continue to buoy local markets as

market and decreasing inventory led to an overall

well. With the US job market on a historic streak of

healthy and brisk housing market for both single

over 80 months consecutive job growth, it is a good

family homes and condos during 3rd quarter

time to be buying or selling homes. As has been

of 2017, reports Coldwell Banker Paradise in

the case in recent years, interest rates are likely

their recently released Market Report.

to remain low in the near future, with only gradual

Unlike

other markets on the Space and Treasure Coast,

increases to come down the road.

the Island market is unique in that decreasing inventory and continued buyer demand is likely to

With eleven offices covering 135 miles of Florida’s

keep prices increasing at a steady pace. Even with

East Coast, Coldwell Banker Paradise recently

the -21.5% dip in inventory, levels are still healthy

celebrated 64 years of continued service to its clients

overall with eight months supply on hand. “Buyers

and communities. Proud of its history, grounded in

have a choice when looking to purchase on the

tradition, and growing thanks to its values, Coldwell

Island,” added Schlitt Gonzalez.

Banker Paradise is the area’s only full service real estate company with six divisions including:

The Vero Beach Island condominium market is

residential sales and rentals, commercial sales

well positioned heading into season, with a good

and leases, property management, and concierge

supply of inventory on hand. Price increases have

services.

remained stable with a slight bump in average

Associate today call him directly at 772-205-1931 or

price due to new construction.

email him at Dustin@VeroBeachProperty.com.

Price Point Under $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

To speak with Dustin Haynes, Broker

SINGLE FAMILY HOMES Homes Sold

Current Listings

Month’s Supply

Average Price

2017

102

30

2.6

$428,425

2016

90

46

4.6

$434,343

Change

+13.3%

-34.8%

-42.5%

+8.0%

2017

126

113

8.1

$756,830

2016

105

115

9.9

$739,424

Change

+20.0%

-1.7%

-18.1%

+2%

2017

104

170

14.7

$2,652,365

2016

88

179

18.3

$3,000,598

Change

+18.2%

+5.0%

+19.6%

-12%

2017

332

313

8.5

$1,249,717

2016

283

340

10.8

$1,345,523

Change

+17.3%

-7.9%

-21.5%

-7%

Price Point

CONDOS

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2017

102

30

2.6

$428,425

2016

90

46

4.6

$434,343

Change

+13.3%

-34.8%

-42.5%

-1.0%

2017

126

113

8.1

$756,830

2016

105

115

9.9

$739,424

Change

+20.0%

-1.7%

-18.1%

+2.0%

2017

104

170

14.7

$2,652,365

2016

88

179

18.3

$3,000,598

Change

+18.2%

-5.0%

-19.6%

-12.0%

2017

332

313

8.5

$1,249,717

2016

283

340

10.8

$1,345,523

Change

+17.3%

-7.9%

-21.5%

-7.0%

Under $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Vero Beach Island Condominiums - Hot Deals

$259,000

5601 Hwy A1A, #S304

$360,000

1700 Ocean Drive, #304V

Oceanfront Estates - Newly Listed

$1,125,000 1202 Isla Verde

$990,000

846 Banyon Road

I Have the Competitive Edge!

Using proprietary technology, I BRING THE BUYERS to each and every transaction. Using targeted software applications, and the latest in lead development and capture, I can not only target likely buyers, but have the technology in my hands to put YOUR home in front of the most likely buyers. I don’t just work locally, but regionally, nationally and internationally to put your home front and center.

With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise recently celebrated 64 years of continued service to its clients and communities. Proud of its history, grounded in tradition, and growing thanks to its values, Coldwell Banker Paradise is the area’s only full service real estate company with six divisions including: residential sales and rentals, commercial sales and leases, property management, and concierge services. To speak with me today about what I can do to market your property not just locally... but GLOBALLY...give me a call at 772-205-1931 or email me at Dustin@ VeroBeachProperty.com.

A Selection of Recently Sold Properties

$1,295,000

70 Beachside Drive

$515,000

2150 Seminole Shores Lane

$399,000

1556 Smugglers Cove