2015 Vero Beach Island First Quarter Real Estate Market Report

2015 Vero Beach Island First Quarter Real Estate

MARKET REPORT

THE MOORINGS VERO BEACH Offered at $2,590,000

VERO BEACH 1950 US Hwy. 1 772.778.2029

ISLAND PREVIEWS 4625 Hwy. A1A 772.231.4880

SEBASTIAN 1209 US Hwy. 1 772.589.7777

N. HUTCHINSON 4007 N. Hwy. A1A 772.464.7007

Coldwell Banker Paradise Reports Positive Housing Market Trends for 1st Quarter of 2015 on Vero Beach Island Shrinking inventory, steady economic improvement and consumer confidence led to overall gains in the local housing market, reported Coldwell Banker Paradise, the trusted leader in local real estate from Jensen to Cocoa Beach in its just released 2015 1st Quarter market analysis available to its agents and their clients. “Just as 2014 was a transition year from recovery to stabilization, so has 2015 started out, steady but overall positive across the board, it is just the kind of steady and slow rate of growth we like to see,” stated Co-Owner and Broker Steven Schlitt.

Realistic gains of 2-7% in the average price provide assurance of steady growth. While inventory at the lower end of the price range, under $500k sees the most movement.

For single family homes and condos on Vero Beach Island average prices continued to increase, especially at the lower end of the price range. Inventory remains healthy for homes and condos priced over $500k, while inventory at the lower end of the price range, under $500k sees the most movement. Sales of properties over $1m skewed the average price increases, resulting in more realistic gains of 2-7% in the average price.

What’s my home or condo worth in today’s market?

Coldwell Banker Paradise agents are experts in the local housing market and can help you assess your property. Call us today, at our Vero Beach Island Previews office: 772-231-4880, at our Vero Beach office: 772-772-2029, at our North Hutchinson Island office: 772-464-7007, at our Sebastian office: 772-589-7777. All discussions are strictly confidential.

Serving all four counties on the Treasure and Space Coast (Brevard, Indian River, St. Lucie and Martin Counties) Coldwell Banker Paradise has nine offices and over 210 agents.

If you would like to continue getting our quarterly updates, just let us know. Email us at Schlitt@ColdwellBanker.com. We will make sure that a copy is delivered to you quarterly.

All the best,

Linda Schlitt Gonzalez and Steven Schlitt, Owners

VERO BEACH ISLAND SINGLE FAMILY HOMES YEAR END 2015 COMPARISON TO YEAR END 2014 Price Point Under $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2015

43

65

4.5

$355,476

2014

43

113

7.9

$348,300

Change

0%

-42.5%

-42.5%

2.1%

2015

21

130

18.6

$743,261

2014

36

141

11.8

$710,527

Change

-41.7%

-7.8%

58.1%

4.6%

2015

26

161

18.6

$2,243,961

2014

19

168

26.5

$2,379,470

Change

36.8%

-4.2%

-30%

-5.7%

2015

90

356

11.9

$991,522

2014

98

422

12.9

$875,161

Change

-8.2%

-15.6%

-8.1%

13.3%

VERO BEACH ISLAND CONDOS YEAR END 2015 COMPARISON TO YEAR END 2014 Price Point Under $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2015

42

94

6.7

$271,473

2014

61

149

7.3

$251,956

Change

-31.1%

-36.9%

-8.4%

7.7%

2015

9

24

8

$664,722

2014

11

40

10.9

$679,159

Change

-18.2%

-40%

-26.7%

-2.1%

2015

3

19

19

$1,823,333

2014

2

24

36

$1,262,500

Change

50%

-20.8%

-47.2%

44.4%

2015

54

137

7.6

$423,229

2014

74

213

8.6

$342,771

Change

-27%

-35.7%

-11.9%

23.5%

EXCLUSIVELY PRESENTING:

$999,000

$895,000

$749,000

411 Live Oake Road

2035 Regatta Drive

1570 Smugglers Cove

$675,000

$569,000

$450,000

531 Marbrisa Drive

9165 Seasons Terrace

5536 Highway A1A

BETHEL BY THE SEA • VERO BEACH

INDIAN RIVER SHORES • VERO BEACH

THE MOORINGS • VERO BEACH

SEASONS • VERO BEACH

SMUGGLER’S COVE • VERO BEACH

LA MER CONDOMINIUMS • VERO BEACH

WE INVITE YOU TO VIEW OUR ENTIRE COLLECTION AT: FLColdwellBanker.com

PRSRT SSTD ECRWSS U.S. POSTAGE PAID EDDMRETAIL

A SELECTION OF RECENT SOLDS:

Asking Price $899,000

SOLD for $860,000 Asking Price $649,000

RIVER CLUB • VERO BEACH

BEACHSIDE • VERO BEACH

1005 Isla Verde Square

Asking Price $549,000

DUNMORE • VERO BEACH

2245 Beachside Lane

CONTINGENT Asking Price $525,000

CONTINGENT

OCEAN SHORES CONDO • VERO BEACH

2145 Dunmore Lane

C

4101 Ocean Drive, Unit 4A

Asking Price $365,000

1480 Ocean Drive, Unit 1D

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.

VERO BEACH ISLAND PREVIEWS 772.231.4880

SEBASTIAN 772.589.7777

CONTINGENT

SOUTH COVE CONDO • VERO BEACH

oldwell Banker Paradise is the largest real estate brokerage firm in the area, with 9 offices serving St. Lucie, Indian River and Brevard Counties. We are commited to providing the highest level of real estate services to our clients.

772.778.2029

SOLD for $649,000

N. HUTCHINSON 772.464.7007