2016 Vero Beach Island Mid-Year Real Estate
MARKET REPORT 4625 Highway A1A Vero Beach, FL 32963
772-231-4880
1950 US-1 Vero Beach, FL 32960
1209 US-1 Sebastian, FL 32958
772-778-2029
772-589-7777
Vero Beach Island
Mid-Year Comparison 2016 to 2015 Price Determines Movement of Island Homes in 2016 Supply of available single family homes for sale is slowly decreasing in the Vero Beach Island Housing Market, with overall inventory declining -28.3% over last year’s numbers. With fewer homes for sale, prices are slowly but steadily increasing, with modest gaines leading to a 13.5% overall increase in average price. However, the lack of inventory has also started impacting sales, which have slowed -22%
192 -22%
Homes Sold
over last year. Pricing a home to sell is key in this market.
Average Price +13.5%
$1.1m
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
2016
55
38
4.1
$372,366
2015
87
57
4.5
$365,283
Change
-36.8%
-33.3%
-7.9%
+1.9%
2016
73
86
7.1
$688,251
2015
90
99
18.6
$672,897
Change
-18.9%
-13.1%
-62%
+2.3%
2016
64
91
8.5
$2,271,434
2015
69
144
18.6
$2,196,540
Change
-7.2%
-36.8%
-54.1%
+3.4%
2016
192
215
6.7
$1,125,491
2015
246
300
11.9
$991,470
Change
-22.0%
-28.3%
-43.5%
+13.5%
Price Adjustments Help Ease Slowing of Condo Sales
Your Housing Forecast! FOR SELLERS:
HOT & SUNNY! Your home could be the one that buyers are waiting for! Let’s work together to price your home to sell in this HOT market!
Sales of Vero Beach Island condos are down -10.1% compared to this time last year but have slowed overall from the
FOR BUYERS & INVESTORS:
larger decrease in sales during the first
Skies not so clear...With inventory tight, it takes an experienced and savvy realtor to navigate! Let us be your GUIDE!
quarter of this year of -16.7%. Prices continue to stay even, with only a slight increase of +4.2% -a decrease from first
CALL US TO FIND OUT HOW MUCH YOUR HOME IS WORTH IN THIS TIGHT MARKET! 772-231-4880
quarter numbers. Inventory is tightening, which is good news for sellers, as buyers will be hunting for just the right property appropriately priced.
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
2016
89
61
4.1
$285,628
2015
120
68
6.7
$273,852
Change
-25.8%
-10.3%
-38.6%
+4.3%
2016
42
27
3.9
$662,726
2015
21
25
8.0
$648,738
Change
+100.0%
+8.0%
-51.8%
+2.2%
2016
3
11
22.0
$1,083,333
2015
8
14
19.0
$1,723,063
Change
-62.5%
-21.4%
+15.8%
-37.1%
2016
134
99
4.4
$421,682
2015
149
107
7.6
$404,498
Change
-10.1%
-7.5%
-41.7%
+4.2%
R E C E N T LY S O L D I S L A N D P R O P E R T I E S :
$600,925
2055 Spring Place
$600,000
826 Banyan Road
$505,000
4101 Ocean Dr. #3D
E X C L U S I V E LY P R E S E N T I N G : ON COVER!
$1,000,000
407 N Arrowhead Trail
$669,000
400 Live Oak Road
$495,000
796 Dahlia Lane
A B O U T C O L DW E L L B A N K E R PA R A D I S E : Voted BEST Indian River County brokerage by the readers of Treasure Coast Newspapers,Coldwell Banker Paradise is the oldest and largest, full service real estate company on the Space and Treasure Coast. Originally established by Ed and Marguerite Schlitt over 63 years ago in Vero Beach, the company is now owned by sister and brother team Linda Schlitt Gonzalez and Steven Schlitt. We are proud to boast that we have over 270 savvy real estate agents and 48 full time staff, including an exceptional fully staffed marketing department.We represent luxury, residential and commercial properties, along with having a property management division in each of our ten offices.
C O L D W E L L
B A N K E R
P A R A D I S E
www.flcoldwellbanker.com