2017 Vero Beach Island 3rd Quarter Real Estate
MARKET REPORT
W H E R E E XC E L L E NC E L I V E S
PARADISE
Ginny and Jeff Mitchell
Ginny: 772.321.3355 Ginny.Mitchell@coldwellbanker.com Jeff: 772.359.9335 Jeff.Mitchell1@coldwellbanker.com
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 month’s consecutive job growth, it is a good family homes and condos during 3rd quarter of time to be buying or selling homes. As has been the 2017, reports Coldwell Banker Paradise in their case in recent years, interest rates recently released Market Report. are likely to remain low in the near Unlike other markets on the Space future, with only gradual increases Sales $500K+ Up and Treasure Coast, the Island to come down the road. market is unique in that decreasing inventory and continued buyer With eleven offices covering 135 demand is likely to keep prices miles of Florida’s East Coast, Coldwell increasing at a steady pace. Even Banker Paradise recently celebrated with the -21.5% dip in inventory, 64 years of continued service to its levels are still healthy overall clients and communities. Proud of with eight months supply on hand. its history, grounded in tradition, “Buyers have a choice when looking and growing thanks to its values, to purchase on the Island,” added Coldwell Banker Paradise is the Schlitt Gonzalez. area’s only full service real estate company with six divisions including: residential sales and rentals, The Vero Beach Island condominium market is commercial sales and leases, property management, well-positioned heading into season, with a good and concierge services. To find out what your home supply of inventory on hand. Price increases have may be worth in this market, contact Ginny and Jeff remained stable with a slight bump in average Mitchell at 772-321-3355 or 772-359-9355. prices due to new construction.
20%
Price Point Under $500,000
$500,001 to $1,000,000
Over $1,000,000
Total
Year
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 Under $500,000
$500,001 to $1,000,000
Over $1,000,000
Total
CONDOS
Year
Condos Sold
Current Listings
Month’s Supply
Average Price
2017
103
75
6.6
$322,961
2016
122
75
5.5
$329,164
Change
-15.6%
0%
+18.4%
-2.0%
2017
50
33
5.9
$693,672
2016
55
33
5.4
$689,182
Change
-9.1%
0%
+10.0%
+1.0%
2017
16
24
13.5
$1,908,375
2016
3
18
54.0
$2,553,333
Change
+433.3%
33.3%
-75.0%
-25.0%
2017
169
132
7.0
$582,737
2016
180
126
6.3
$476,239
Change
-6.1%
+4.8%
+11.6%
+22%
New to the Market
$1,125,000 1202 Isla Verde
$990,000
846 Banyon Road
Our Agents Have the Competitive Edge! Using proprietary technology, our agents BRING THE BUYERS to each and every transaction. Using targeted software applications, and the latest in lead development and capture, our agents can not only target likely buyers, but have the technology in their hands, to put YOUR home in front of the most likely buyers. We 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 find out what your home may be worth in this market, contact Ginny and Jeff Mitchell at 772-321-3355 or 772-359-9355.
A Selection of Recently Sold Properties
$1,295,000
70 Beachside Drive
$515,000
2150 Seminole Shores Lane
$399,000
1556 Smugglers Cove