Vero beach island 3rdq 2017 Ginny and Jeff Mitchell

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