Vero Beach Island Year End 2015 Market Report

2015 Vero Beach Island Year End Real Estate

M A R K E T R E P O RT

ISLAND PREVIEWS 4625 Hwy. A1A 772.231.4880

SEBASTIAN

1209 US Hwy. 1 772.589.7777

VERO BEACH N. HUTCHINSON 1950 US Hwy. 1 772.778.2029

4007 N. Hwy. A1A 772.464.7007

Vero Beach Island Year End Comparison 2015 to 2014 How Much Will Prices Increase for Vero Beach Island Properties in 2016?

A decrease in available homes for sale generally leads to

those properties, both single family homes and condos,

a subsequent rise in prices, but not for Vero Beach Island

priced under $500K on the Island. “The million dollar

properties last year reports Coldwell Banker Paradise in

question is, how much will prices increase on the Island

their just released Year End Market Report for 2015. “We

for 2016?,” posited Schlitt Gonzalez, “Many buyers are

have not seen the kind of appreciation one usually gets with

comparing more than one city which has held price

a tightening of inventory,” stated Coldwell Banker Paradise

increases to single digits in 2015. We need to highlight

Co-owner and Broker Linda Schlitt Gonzalez. “The housing

the amazing amenities only available in our community:

market for Vero Beach Island properties seems to be in

the safety, the hometown feel, the exclusivity – these are

a holding pattern. Overall sales have actually slowed 11%

the qualities that will continue to attract buyers from all

compared to two years ago, however prices are holding steady,” added Schlitt Gonzalez.

“We need to highlight

over.”

Voted favorite Indian River County In general, 2015 was a healthy year for the amazing amenities brokerage by the readers of Treasure Coast Newspapers, Coldwell Banker Paradise the housing market: many homeowners only available in our prides itself on providing the best market regained essential equity, and housing community!” knowledge available to home buyers and prices across the board steadily increased. sellers through its Quarterly Market Reports and it’s However, a solidifying trend slowly emerged during the knowledgeable agents. “Our agents are the experts, they summer and fall of 2015, and that was a slowing or decrease are in the neighborhoods, seeing what is selling and why. of available homes and condos for sale in the marketplace. In Want to know what is happening in your neighborhood? fact, during November and into December the shortage of Ask our agents today,” stated Schlitt. You can reach our inventory resulted in a decrease in sales – there simply were Island Previews office at 772-231-4880. not enough homes for buyers to purchase. Such was true for

SINGLE FAMILY HOMES Price Point Under $500,000

$500,000 to $1,00,000

Over $1,000,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2015

141

40

3.4

$382,550

2014

183

70

4.6

$364,834

Change

-33.0%

-42.9%

-26.0%

+4.9%

2015

148

104

8.4

$678,502

2014

148

117

9.5

$690,427

Change

0%

-11.1%

-11.2%

-1.7%

2015

102

151

17.8

$2,264,022

2014

98

151

18.5

$2,173,356

Change

+4.1%

+5.9%

-4.0%

+4.2%

2015

391

295

9.1

$985,392

2014

429

338

9.5

$890,296

Change

-8.9%

-12.7%

-9.8%

+10.7%

CONDOS Price Point Under $500,000

$500,000 to $1,00,000

Over $1,000,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2015

193

92

5.7

$269,773

2014

242

112

5.6

$272,904

Change

-20.2%

-17.9%

+2.1%

-1.1%

2015

43

33

9.2

$667,628

2014

50

30

7.2

$706,075

Change

-14.0%

+10.0%

+27.9%

-5.4%

2015

16

18

13.5

$1,634,896

2014

10

17

20.4

$1,548,000

Change

+60.0%

+5.9%

-33.8%

+5.6%

2015

252

143

6.8

$424,336

2014

302

159

6.3

$386,842

Change

-16.6%

-10.1%

+8.1%

+9.7%

E X C L U S I V E LY P R E S E N T I N G :

THE MOORINGS - $2,455,000

VERO BEACH

$899,000

VERO BEACH - $1,195,000

As seen on cover!

VERO BEACH - $725,000

flcoldwellbanker.com

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STUART, FL PERMIT NO. 274

RESIDENTIAL CUSTOMER

A SELECTION OF RECENT SOLDS:

Vero Beach Island, 915 Sea Watch Lane $860,000

Vero Beach Island, 531 Marbrisa Drive $610,000

THE RIGHT REPRESENTATION MAKES ALL THE DIFFERENCE Coldwell Banker Paradise is the largest real estate brokerage firm in the area, with 10 offices serving St. Lucie, Indian River and Brevard Counties. We are commited to providing the highest level of real estate services to our clients with comprehensive regional marketing.

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.

C O L D W E L L

B A N K E R

VERO BEACH MAINLAND

VERO BEACH ISLAND

772-778-2029

772-231-4880

SEBASTIAN MAINLAND

772-589-7777

INDIALANTIC BREVARD 321-951-3300

P A R A D I S E NORTH HUTCHINSON 772-464-7007