Every four years, as the country turns its focus to the presidential election, questions arise about how the results may affect various sectors, especially the housing market. If you’re asking how the upcoming election is likely to impact real estate, you’re not alone. Analyzing historical trends can shed light on what to expect in terms of mortgage rates, home prices, and sales volume. The Pre-Election Period: An Uptick in Affordability? One trend that tends to recur is a dip in mortgage rates leading up to an election. As uncertainty looms, the Federal Reserve and mortgage lenders often work to stabilize markets, which may result in lower interest rates. This drop is meant to offset any unease in the economy, making homebuying a bit more affordable and providing reassurance to potential buyers. Lower rates can be an excellent opportunity for homebuyers to lock in favorable mortgage terms before rates fluctuate again post-election. Post-Election Market Trends: Home Prices on the Rise Once the election is over, a new phase usually begins, characterized by increased activity in home sales and often a rise in home prices. Regardless of the election outcome, historical data suggests that home prices and sales generally increase in the year following an election. With a renewed sense of direction and economic confidence, consumers tend to feel more comfortable making long-term investments, which drives up demand in the housing market. However, this uptick can vary depending on the broader economic policies enacted by the incoming administration. The Broader Picture: Economic and Policy Influences While elections have a marked impact, broader economic factors often dictate the scale of change. Policies related to taxes, interest rates, and government spending all shape the housing landscape. For instance, changes in tax policies regarding homeownership deductions or incentives for first-time buyers can significantly impact market dynamics. Additionally, any adjustments to financial regulations, especially those affecting mortgage lending, may influence buyers’ and investors’ confidence. Should You Buy or Sell During an Election Year? With mortgage rates potentially lower and home prices poised to rise after the election, both buyers and sellers might find reasons to act. Buyers may benefit from lower rates before the election, while sellers could capitalize on rising demand afterward. That said, market timing shouldn’t be the only consideration. Personal financial readiness and long-term housing goals are key factors in making the right decision. If you’re navigating the market during this election cycle, let’s chat. I can offer insights and guide you through the steps to make the most of the timing and opportunities available in your area. Just complete the form below and I will contact you to discuss how this unique period may open doors for your real estate goals. Data Sources https://researchwiseny.btig.com/ResearchLibraryAnalec/DownloadResearch.aspx?E=cafidk-b https://www.redfin.com/news/homebuying-delay-election-survey-2024/ https://www.huduser.gov/periodicals/ushmc/fall08/hist_data.pdf https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales https://www.fanniemae.com/media/53421/display https://img03.en25.com/Web/MortgageBankersAssociation/%7B497ab7d7-e310-4609-b693-054c670afa77%7D_Mortgage_Finance_Forecast_Sep_2024.pdf https://www.nar.realtor/sites/default/files/2024-10/forecast-q3-2024-us-economic-outlook-10-04-2024.pdf https://www.census.gov/construction/nrs/pdf/newressales.pdf https://www.nahb.org/-/media/NAHB/news-and-economics/docs/housing-economics/sales/nationwide-sales-and-inventory.pdf?rev=2a0e5741e9ea48c1b6e91a9b03677a5c&hash=D0A99213F8688CE67BB701E648D05ED8 https://www.census.gov/construction/chars/ https://www.goldmansachs.com/insights/articles/us-house-prices-are-forecast-to-rise-more-than-4-percent-next-year https://www.fanniemae.com/research-and-insights/surveys-indices/home-price-expectations-survey-hpes https://www.morganstanley.com/articles/mortgage-rates-forecast-2024-2025-will-mortgage-rates-go-down https://www.resiclubanalytics.com/p/goldman-sachs-vs-moodys-expect-national-home-prices-go-2027 https://www.resiclubanalytics.com/p/early-predictions-national-home-prices-2025-according-8-major-research-groups https://x.com/NewsLambert/status/1803568680803901553 https://www.freddiemac.com/pmms/archive

If you’re preparing to sell your home in Vero Beach, one of the first things you’ll want to know is, “How long will it take to sell?” Understanding the timeline is crucial for planning your move and setting expectations. While each real estate market is unique, keeping an eye on national trends can offer a helpful starting point. However, when it comes to selling your home in Vero Beach, it’s best to consult a local real estate expert who understands the specific market dynamics in the area. Local agents can provide key insights into what’s happening in your neighborhood and how it compares to national patterns. Here’s a look at some factors a local Vero Beach real estate agent will discuss with you when assessing how long it may take to sell your home. More Homes Are Coming on the Market in Vero Beach According to Realtor.com, the number of homes available for sale has been rising this year, which is creating more options for buyers. In Vero Beach, we’re seeing the same trend. With a wider selection of homes, buyers now have more choices, meaning homes are staying on the market a little longer than in recent years. In the past, homes in Vero Beach—and nationally—sold quickly due to a limited inventory. As more homes become available, it’s understandable that the pace of sales is slowing down. Currently, data shows it takes an average of 55 days from listing to closing for homes to sell, according to Realtor.com. Even though homes are not selling as fast as they did last year, they are still moving more quickly than during pre-pandemic years. In the years before 2020, it wasn’t uncommon for homes to take 60 days or more to sell. So even with the market slowing down slightly, homes in Vero Beach are still selling faster than in more typical years. The reason for this? Despite the increased inventory, demand in Vero Beach still exceeds the available supply. As long as homes are well-priced and show well, they tend to sell quickly. As NerdWallet puts it: “Overall, though, demand still outpaces supply. This is hardly a mellow market: Good homes sell quickly . . .” Why You Need a Vero Beach Real Estate Agent If your goal is to sell your Vero Beach home quickly, working with an experienced local agent is essential. From helping you set the right price to ensuring your home is staged to impress, a skilled agent will guide you through the entire process. They’ll also develop a strategic marketing plan that attracts buyers and provide crucial insights about the local Vero Beach market, helping you make informed decisions that could speed up the sale. So while homes may be staying on the market a little longer, with the right agent and strategy, your home in Vero Beach could still sell faster than you expect. Bottom Line If you’re planning to sell your home in Vero Beach, understanding how long it might take is a key part of your strategy. Let’s connect to discuss how you can price, market, and sell your home with confidence in today’s market by completing the form below.

    If you’re torn between buying a home now or waiting for the perfect moment, you’re not alone. Many potential buyers face the same dilemma—especially with today’s fluctuating market conditions. But there’s one key factor you can’t overlook: equity. Equity is the difference between what you owe on your home and its current market value. When home prices rise, your equity grows—effectively building your wealth without you having to lift a finger. And based on current expert forecasts, you have the potential to gain around $90K in equity over the next five years. That number could be higher or lower depending on the timing and location of your purchase, but the wealth-building opportunity is undeniable. The Power of Home Price Appreciation Real estate has historically been one of the most reliable ways to build long-term wealth. Even though the market may experience ups and downs, home values generally trend upward over time. By purchasing now, you position yourself to benefit from appreciation, meaning the value of your home could increase steadily as the market strengthens (see graph below). Many experts predict that while price growth might moderate in some areas, values will continue to climb over the coming years. This means the longer you wait, the more potential equity you might miss out on, as the following graph shows. Avoid Rising Costs There’s also the factor of rising costs. Interest rates have a significant impact on how much you’ll ultimately pay for your home. While mortgage rates may fluctuate, they are still historically low compared to previous decades. By locking in a rate today, you protect yourself from the risk of higher rates in the future. Additionally, waiting could mean facing higher home prices, which would increase your overall cost of buying. The Wealth-Building Opportunity Let’s break it down: If you purchase a home now, not only will you begin building equity right away, but you’ll also enjoy the benefits of homeownership, including stability, tax advantages, and the pride of owning your own place. With the potential to gain $90K in equity over the next five years, the financial rewards of buying now are clear. While it’s important to make sure you’re ready financially and emotionally, if you’re in a position to buy now, it’s worth considering the potential long-term gains. Homeownership is more than just a place to live—it’s an investment in your future. Ready to Take the Next Step? If you’ve been weighing your options, now is the time to seriously consider buying. The opportunity to build equity and increase your financial standing over time is significant. Let’s chat about your real estate goals and explore how buying a home today could be a smart move for your future. Just complete the form below and I will contact you to start the conversation!

The Vero Beach Real Estate Market Report for zip code 32963 in September 2024 shows that the real estate market was again a Buyers Market for Single Family homes and a Strong Buyers Market for condos on the barrier island despite an increase in market activity. Sales for both single family homes and condos jumped this month as demand for Vero Beach homes on the barrier island, however demand is still weak. Vero Beach real estate sale prices increased for condos but dropped dramatically for single family homes on the barrier island in September. Following are some statistics for this month. Vero Beach Market for Single Family homes in 32963   In September 2024, the Vero Beach single-family homes market in 32963 was again a Buyers Market with 13% Sales Ratio. There were 159 single family homes for sale on the island and only 20 were sold in September 2024. The inventory (homes available for sale) in September 2024 increased by 6% versus August of 2024. If we see an continued increase in inventory while demand is weak, it is likely that will see that sale prices will keep adjusting downwards. Homes sold for a median of 92.17% of list price with an average of 132 Days on the Market (DOM) in September 2024, an indication that the buyers were still hesitant to pull the trigger. The most active price band for single family homes on the barrier island was again for homes between $500,000 and $1,000,000, with 11 sales and sales ratio of 39%. In September 2024 the median sales price for single-family homes slightly dropped by 29% to $929,500 compared to August, mainly due to more sales of lower priced homes indicating that the prices have stabilized for single family homes in Vero Beach. The most active market for single family homes on the island in September 2024 was the Central Beach area with 81 homes for sale, 15 Pending Sales, but only 3 sales, 27 months of remaining inventory (absorption rate) and a Strong Buyers Market.. Vero Beach Market for Attached Homes/Condominiums in 32963   There were 138 condos for sale on the island and only 10 were sold in September 2024. The Vero Beach condominium market in 32963 was again a Strong Buyers Market with only 7% Sales Ratio as buyers’ appetite for condos on the island was again weak. The inventory (condos available for sale) in September 2024 slightly decreased again compared to August as some sellers were hesitant to list their condos while waiting to see a better market environment. Condos sold for a median of 93.73% of list price as the average of the Days on the Market (DOM) of 97 days as buyers were again more hesitant to commit to a purchase. The most active price band was for condos priced between 800,000 and $1,000,000 , with only 3 sales and a sales ratio of 19% The median sales price for attached homes (condominiums) in September 2024 jumped by 83% to $710,000 compared to August as more higher priced condos were purchased by the buyers this month. The most active market for condos in September 2024 on the barrier island was the Central Beach area with 67 condos for sale, 27 Pending Sales, 7 sales and 9.6 months of remaining inventory (absorption rate) and a Balanced Market . For a more comprehensive market analysis for a specific Vero Beach area or neighborhood in 32963 or any other zip code use the request form below.

The September 2024 Real Estate Market Report for Vero Beach Mainland shows that the market was a Balanced Market as sales increased slightly amid steady inventory as the summer season is coming to an end. However, sales prices declined this month but buyers’ appetite for Vero Beach homes on the mainland is still intact. Sale prices has stabilized but slightly retreated this month from August, and we are seeing that the elevated prices have affected and may continue to impact sales. We need to see a stronger action the next few months in anticipation for the winter season, which determine how the market will adjust moving forward. Following are some statistics for this month. Vero Beach Mainland Real Estate Market Insights   In September 2024, the Vero Beach Mainland was again a Balanced Market with a 18% Sales Ratio. There were 808 homes for sale on the mainland and 147 were sold in September 2024. The inventory (homes available for sale) in September 2024 slightly increased from August but sellers still seek the opportunity to list their homes amid steady buyers’ demand for homes on the mainland. As we expect a steady flow of new inventory coming to market in the fall, we may see an impact on the listing and sale prices. In September 2024, homes sold for a median of 96.17% of list price, at slightly higher level than last month as buyers are still active. The most active price band for Vero Beach Mainland homes was again homes priced from $500,000 to $1,000,000, with 28 sales but with sales ratio of only 11%, as buyers are still targeting higher priced homes in Vero Beach mainland. In September 2024 the median sales price slightly decreased by 5% compared to August with median sale price of $355,000. The most active market in September 2024 was the Southeast County area with 275 homes for sale, 80 Pending Sales, 61 sales, 4.5 months of remaining inventory (absorption rate) and a Sellers Market. For a more comprehensive market analysis for a specific Vero Beach area or neighborhood on the Mainland or any other zip code use the request form below.

As more individuals reassess their lifestyle needs, luxury housing has emerged as a top choice for those seeking their dream home and especially here in Vero Beach. While price is a key factor, Investopedia highlights that true luxury in real estate goes beyond just numbers. Location plays a critical role—whether it’s a high-rise condo in a prime urban setting, a sprawling waterfront estate, or a property offering exclusive access to arts, entertainment, fine dining, and upscale shopping. Additionally, these homes showcase the finest features and design elements available on the market. The latest Luxury Market Report from the Institute for Luxury Home Marketing indicates that demand for luxury homes has surged over the past few years. The report states: “. . . North America recorded the fastest growth of demand during after the pandemic. Also, demand has . . . consistently increased, and even in 2024, we saw a higher volume of sales compared to 2023.” If you own a luxury property, now may be an ideal time to consider listing it, as market conditions are ripe for sellers. But what exactly is driving this heightened demand? What’s Fueling the Strong Demand for Luxury Homes?   According to the same report, the increase in high-end homebuyers is closely tied to a growing number of individuals reaching high net-worth status. The report notes: “In 2020, we saw a 2.2% growth in the number of individuals with wealth of over $5 million in net value, but in 2024 that number grew by an outstanding 19.8%. This remarkable increase has introduced over 760,000 new individuals into the high net-worth bracket. Combined with existing affluent buyers looking to diversify their portfolios, this explains why the luxury real estate market experienced such a dramatic surge in demand throughout 2023 and into 2024. The Vero Beach market has seen similar action the last few years and especially post pandemic. This rising interest from affluent buyers indicates that if you are considering making changes to your real estate holdings—whether expanding your portfolio or selling your current luxury home—the present market offers an excellent opportunity to capitalize on this demand. Bottom Line   If you own a luxury home in Vero Beach and want to better understand the current market dynamics in your area, let’s connect. Together, we can explore how to make the most of today’s high demand for upscale properties and help you take advantage of the thriving luxury real estate market. Just complete the form below and I will contact you to review your options.

    When you’re preparing to list your house, first impressions are everything. The goal is to make your home as inviting as possible, showing prospective buyers that it’s been well cared for and ready for them to envision as their own. Whether you’re selling in a competitive market or aiming to sell quickly, focusing on a few key areas can help your home make a lasting impression. Here are some essential tips to get your house in top shape. 1. Boost Curb Appeal   The exterior is the first thing buyers see, so ensure it shines. Power wash the driveway, clean gutters, mow the lawn, and add fresh landscaping. A freshly painted front door or a new mailbox can also make your home feel welcoming right from the start.   2. Declutter and Depersonalize   Less is more when showing your home. Remove excess furniture and pack away personal items like family photos and memorabilia. This helps potential buyers focus on the space and imagine how they might use it.   3. Deep Clean Everything     A clean house signals that the property has been well maintained. Consider hiring a professional cleaning service to get your home spotless from top to bottom. Pay special attention to bathrooms, kitchens, and carpets.   4. Make Necessary Repairs   Fix anything that is visibly broken or worn. Leaky faucets, loose doorknobs, and cracked tiles may seem minor, but they can suggest to buyers that the home hasn’t been properly maintained.   5. Neutralize the Space   Consider repainting walls in neutral colors like beige or light gray. Bold colors may appeal to specific tastes, but neutral tones make it easier for buyers to imagine their belongings in the space.   6. Light It Up   Good lighting can make a huge difference. Open curtains and blinds to let in natural light, and replace dim or outdated light fixtures. Bright, airy spaces feel more inviting and spacious.   7. Stage Strategically     Professional staging can help highlight your home’s best features, but even simple DIY staging can go a long way. Arrange furniture to maximize space and showcase key areas like the living room, kitchen, and master bedroom.   8. Freshen Up Flooring   If your carpet is worn, consider replacing it, or at the very least, have it professionally cleaned.   Hardwood floors should be refinished if necessary. Flooring is one of the first things buyers notice, so ensure it looks its best.   9. Enhance Outdoor Spaces   With outdoor living becoming more popular, make sure your yard, patio, or deck is in good condition. Clean furniture, add some potted plants, or even stage a cozy seating area to show off the potential for entertaining or relaxation.   10. Get a Pre-Sale Inspection   A pre-sale home inspection can identify potential issues before buyers find them. Taking care of repairs ahead of time will help avoid any surprises during the negotiation process and give you an edge in securing a smooth sale.   These tips are just the beginning of getting your home ready to sell. The specifics of what works best can depend on your local market and neighborhood. If you want personalized advice or are looking for ways to help your house stand out in our area, feel free to reach out. Just complete the form below and I will contact you to go over the steps you need to take to get your house ready and list with confidence!

Luxury living transcends beyond stunning vistas and cutting-edge smart technology—it’s about enhancing every facet of your lifestyle. If you’re considering a million-dollar home, there’s never been a better moment to explore the flourishing luxury market. Here’s why. The Luxury Home Market Is Expanding What defines a luxury home can vary depending on your location, but generally, these are homes that fall within the top 5% of the price range for any area. According to a recent report from Redfin, the average value of luxury properties has now exceeded one million dollars: “The median sale price for U.S. luxury homes, defined as the top 5% of listings, rose 9% year-over-year to a record $1.18 million during the second quarter.” In addition, the report highlights that the percentage of homes valued at one million dollars or more has reached an unprecedented high (as illustrated in the graph below). This means, if your goal is to enter this price range, you’ll find a growing array of options, each offering distinctive features and architectural styles. Whether your preference leans towards modern kitchens equipped with state-of-the-art appliances, exclusive amenities, or enhanced privacy and security, the luxury market is evolving to meet your desires. Luxury Homes as a Strategic Investment Purchasing a luxury home is not just a lifestyle choice—it’s also a savvy financial move. As indicated by Redfin, the price of luxury homes continues to climb, making these properties a prime investment. The August Luxury Market Report echoes this sentiment: “By the end of July, the overall growth in the volume of sales in 2024 stood at 14.82% for single-family homes and 11.35% for attached homes compared to the same period in 2023.” This uptick in sales demonstrates increased confidence in luxury real estate as a wealth-building asset. With demand surging and property values rising, many are capitalizing on the opportunity to invest in high-end homes. The Bottom Line As the number of million-dollar homes continues to rise and prices trend upward, you’re presented with an abundance of luxury options—along with the potential for long-term wealth creation. Ready to explore the finest homes in our area? Let’s connect and find the perfect property for you by completing the contact form below:

The Vero Beach Real Estate Market Report for zip code 32963 in Ju;y2024 shows that the real estate market became a Buyers Market for Single Family homes and a Strong Buyers Market for condos on the barrier island as sales took a dive for both. Sales for single family homes were anemic this month as demand for Vero Beach homes on the barrier island has waned. Vero Beach real estate sale prices increased slightly single family homes but dropped dramatically for cor Condos on the barrier island in August of 2024. Following are some statistics for this month. Vero Beach Market for Single Family homes in 32963   In August 2024, the Vero Beach single-family homes market in 32963 became a Buyers Market with 11% Sales Ratio. There were 150 single family homes for sale on the island and only 16 were sold in August 2024. The inventory (homes available for sale) in August 2024 decreased by 13% versus July of 2024. If inventory continues to decline while demand is waning, it is likely that will see that sale prices will keep adjusting downwards. Homes sold for a median of 92.78% of list price with an average of 101 Days on the Market (DOM) in August 2024, at almost the same levels as last month as buyers were more hesitant to pull the trigger. The most active price band for single family homes on the barrier island was again for homes between $500,000 and $1,000,000, with only 3 sales and sales ratio of only 13%. In August 2024 the median sales price for single-family homes slightly increased by 6% to $1,309,000 compared to July, as home prices have stabilized for single family homes in Vero Beach. The most active market for single family homes on the island in August 2024 was the Central Beach area with 76 homes for sale, 15 Pending Sales, 6 sales, 12.7 months of remaining inventory (absorption rate) and a Buyers Market.. Vero Beach Market for Attached Homes/Condominiums in 32963   There were 139 condos for sale on the island and only 4 were sold in August 2024. The Vero Beach condominium market in 32963 became a Strong Buyers Market with only 3% Sales Ratio as buyers’ demand for condos on the island has waned. The inventory (condos available for sale) in August 2024 slightly decreased again compared to July as some sellers were hesitant to list their condos and still waiting to see a better market environment. Condos sold for a median of 89.08% of list price as the average of the Days on the Market (DOM) of 121 days as buyers were again more hesitant to commit to a purchase. The most active price band was for condos priced between 450,000 and $500,000 , with only 1 sale and a sales ratio of only 6% The median sales price for attached homes (condominiums) in August 2024 dropped by 56% to $387,500 compared to July as lower priced condos appeared to be favored by the buyers this month. The most active market for condos in August 2024 on the barrier island was the Central Beach area with 66 condos for sale, 20 Pending Sales but only 1 and 66 months of remaining inventory (absorption rate) and a Strong Buyers Market . For a more comprehensive market analysis for a specific Vero Beach area or neighborhood in 32963 or any other zip code use the request form below.

The August 2024 Real Estate Market Report for Vero Beach Mainland shows that the market became a Balanced Market as sales declined amid steady inventory during a typically slow summer season. However, sales prices have remained steady as buyers’ appetite for Vero Beach homes on the mainland is still intact. Sale prices continue to stabilize and increased slightly from July, but we are seeing that the elevated prices have affected and may continue to impact sales. We still need to observe the action the rest of the summer season to determine how the market will behave moving forward. Following are some statistics for this month. Vero Beach Mainland Real Estate Market Insights   In August 2024, the Vero Beach Mainland became a Balanced Market with a 18% Sales Ratio. There were 763 homes for sale on the mainland and 136 were sold in August 2024. The inventory (homes available for sale) in August 2024 slightly decreased from July but sellers still seek the opportunity to list their homes as buyers’ demand for homes on the mainland remains intact. . As we expect a steady flow of new inventory coming to market in the fall, it will eventually affect keep listing and sale prices. In August 2024, homes sold for a median of 95.35% of list price, at slightly lower level than last month as buyers are still active. The most active price band for Vero Beach Mainland homes was again homes priced from $500,000 to $1,000,000, with 30 sales but with sales ratio of only 13%, as buyers are still targeting higher priced homes in Vero Beach mainland. In August 2024 the median sales price slightly increased by 2% compared to July with median sale price of $370,000. The most active market in August 2024 was the Southeast County area with 258 homes for sale, 87 Pending Sales, 53 sales, 4.9 months of remaining inventory (absorption rate) and a Sellers Market. For a more comprehensive market analysis for a specific Vero Beach area or neighborhood on the Mainland or any other zip code use the request form below.

As we approach 2025, staying informed about the projected trends in the housing market is crucial, whether you’re planning to buy or sell a home in the coming year. Having a clear understanding of expert forecasts can guide your decisions and help you navigate the market with confidence. Below, we delve into the latest projections for mortgage rates, home sales, and home prices in 2025, providing you with a comprehensive overview of what to anticipate. Mortgage Rates Expected To Decline Slightly Mortgage rates are a pivotal factor in the housing market, influencing both affordability and demand. According to forecasts from leading institutions such as Fannie Mae, the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and Wells Fargo, mortgage rates are anticipated to decline gradually throughout 2025. This expected decrease is largely attributed to continued easing of inflation and a slight uptick in unemployment rates, indicators of a robust yet decelerating economy. Many experts believe these economic conditions will prompt the Federal Reserve to reduce the Federal Funds Rate, which typically leads to lower mortgage rates. As Morgan Stanley notes: “With the U.S. Federal Reserve widely expected to begin cutting its benchmark interest rate in 2024, mortgage rates could drop as well—at least slightly.” Increase in Home Sales Anticipated The 2025 housing market is expected to witness an uptick in both the supply of homes and the number of transactions. As mortgage rates gradually decrease, more potential buyers and sellers who have been hesitant due to higher rates are likely to re-enter the market. This renewed activity is a key reason why experts are forecasting a rise in home sales for the upcoming year. Projections from Fannie Mae, MBA, and NAR suggest that total home sales could reach approximately 5.4 million units in 2025, marking a modest increase from the lower sales figures seen in 2023 and 2024. To provide context, around 4.8 million homes were sold in 2023, with expectations for about 4.5 million sales this year. While slightly lower mortgage rates may not trigger a significant surge in market activity, they are expected to stimulate more movement, resulting in an increased number of homes available for sale and heightened competition among buyers. Home Prices Set for Moderate Growth With more buyers poised to enter the market, upward pressure on home prices is expected to persist. The latest forecasts from 10 of the most reliable sources in real estate suggest that home prices will rise by an average of 2.6% nationwide in 2025. However, it’s important to note that these predictions vary, reflecting a range of opinions on how much prices will climb. The consensus among experts is that home prices will continue to increase at a moderate pace, in line with a more typical rate of growth. As always, price trends will differ across local markets. Bottom Line Gaining insight into the 2025 housing market forecasts is essential for making informed decisions, whether you’re considering buying or selling a home. Staying updated on these trends will help you strategize effectively and ensure you make the most informed choice for your real estate plans. Let’s connect to discuss how these forecasts could influence your next move.  

    In recent months, the real estate market has seen a notable shift: the supply of homes for sale has grown significantly. For prospective buyers, this increase in inventory presents a unique opportunity. Whether you’re a first-time homebuyer or looking to upgrade, here’s what this growth in supply means for you: 1. More Options for Your Move With more homes on the market, you have a broader selection to choose from. This means you’re more likely to find a property that perfectly matches your needs and preferences. Whether you’re seeking a specific neighborhood, a particular architectural style, or certain amenities, a larger inventory increases the chances of finding your dream home. 2. Increased Negotiation Power In a competitive market, buyers often have to make compromises or pay a premium to secure a home. However, with the current increase in available properties, the scales are tipping in favor of buyers. Sellers are more inclined to negotiate on price and terms, giving you greater leverage in discussions. This could mean a better deal or more favorable conditions in your purchase agreement. 3. Greater Likelihood of Seller Concessions When inventory is limited, sellers might be less willing to make repairs or offer concessions. But as the market becomes more balanced, sellers are often more open to addressing issues that arise during inspections. This could include making necessary repairs, offering credits, or covering closing costs, which can significantly reduce your out-of-pocket expenses. 4. Moderate Price Growth While prices have been rising steadily over the past few years, the growing inventory is helping to moderate this growth. This means that while home values are still appreciating, they are doing so at a more manageable pace. For buyers, this creates a more sustainable market environment, reducing the pressure to act quickly before prices soar further. Ready to Explore Your Options? The current market presents a unique opportunity for buyers to find the right home at the right price. If you’re considering a move or simply want to learn more about how the growing inventory benefits you, I’m here to help. Contact me to discuss how you can take advantage of today’s market to make your home-buying dreams a reality, by completing the form below.

    The real estate market is constantly evolving, and in today’s shifting landscape, you might be wondering if now is the right time to buy a home. While market conditions can often feel unpredictable, there are compelling reasons why this fall presents a unique opportunity for homebuyers. Here’s why you should consider making your move today:   1) Inventory is Growing – More Choices for You One of the biggest challenges buyers have faced in recent years is the lack of available homes on the market. However, the tide is turning. There are now 36.6% more homes for sale compared to this time last year. This significant increase in inventory means you have a wider selection of properties to choose from. Whether you’re looking for a starter home, something larger for a growing family, or a dream property to settle down in, the increased inventory gives you more options to find exactly what you’re looking for. With more homes available, you’re also in a better position to negotiate and find a home that meets your needs and budget.     2) Newly Built Homes – Affordable and Attractive The idea of buying a brand-new home might seem out of reach, but newly built homes are becoming more budget-friendly than many buyers realize. Builders are responding to the current market conditions by offering more competitive pricing and incentives to attract buyers. This means you could find yourself moving into a home with modern features, energy-efficient designs, and the latest amenities without breaking the bank. Plus, with the benefits of lower maintenance costs and warranties that often come with new homes, this option is becoming increasingly appealing for buyers looking to maximize value.     3) Mortgage Rates – Lower Than Last Year’s Peak Mortgage rates have been a topic of concern for many potential buyers, especially after the significant increases seen in recent years. However, there’s good news on this front. Mortgage rates have come down from their peak of 7.79% last October to a more manageable 6.49% today. This drop in rates can make a significant difference in your monthly payments and overall affordability. Locking in a lower rate now could save you thousands over the life of your loan, making homeownership more accessible and financially beneficial than it was just a year ago.     Conclusion The real estate market is indeed shifting, but these changes can work to your advantage if you’re ready to buy a home. With more inventory, budget-friendly new homes, and lower mortgage rates, this fall might be the perfect time to make your move. If you’re considering buying a home and want to explore your options in this evolving market, I’m here to help. Just complete the form below and I will contact you to discuss your specific needs for your next steps in your real estate journey.

The Vero Beach Real Estate Market Report for zip code 32963 in Ju;y2024 shows that the real estate market became a Balanced Market for Single Family homes as sales rebounded, but remained a Balanced Market for condos on the barrier island. Sales for single family homes increased dramatically this month as demand for Vero Beach homes on the barrier island continues. Vero Beach real estate sale prices increased for Condos on the barrier island but decreased for single family homes in June of 2024. Following are some statistics for this month. Vero Beach Market for Single Family homes in 32963   In July 2024, the Vero Beach single-family homes market in 32963 became a Balanced Market with 18% Sales Ratio. There were 173 single family homes for sale on the island and 32 were sold in July 2024. The inventory (homes available for sale) in July 2024 decreased by 5% versus June of 2024. If inventory remains at these levels relative to demand, it is likely that will see that sale prices will keep adjusting. Homes sold for a median of 92.94% of list price with an average of 88 Days on the Market (DOM) in July 2024, a slight increase from last month as buyers’ were still active in Vero Beach. The most active price band for single family homes on the barrier island was again for homes between $500,000 and $1,000,000, with 9 sales and sales ratio of 30%. In July 2024 the median sales price for single-family homes decreased by 4% to $1,232,000 compared to June, as some buyers targeted lower priced single family homes on the barrier island. The most active market for single family homes on the island in July 2024 was the Central Beach area with 74 homes for sale, 14 Pending Sales, 14 sales, 5.4 months of remaining inventory (absorption rate) and a Sellers Market. The decrease in pending sales in July is an indicator that the summer could be slower for sales of single family homes on the island. Vero Beach Market for Attached Homes/Condominiums in 32963   There were 148 condos for sale on the island and only 10 were sold in July 2024. The Vero Beach condominium market in 32963 was a Buyers Market with only 7% Sales Ratio as buyers’ demand for condos on the island was muted again in June. The inventory (condos available for sale) in July 2024 slightly decreased compared to June as some sellers were hesitant to list their condos and still waiting to see a better market environment. Condos sold for a median of 92.34% of list price as the average of the Days on the Market (DOM) jumped by 20% to 125 DOM as buyers were again more hesitant to commit to a purchase. The most active price band was for condos priced over $2M, with only 3 sales and a sales ratio of 30% The median sales price for attached homes (condominiums) in July 2024 jumped by 76% to $887,500 compared to June as higher priced condos appeared to be favored by the buyers. The most active market for condos in Ju;y2024 on the barrier island was the Central Beach area with 68 condos for sale, 15 Pending Sales, 3 sales, 22.7 months of remaining inventory (absorption rate) and a Strong Buyers Market . For a more comprehensive market analysis for a specific Vero Beach area or neighborhood in 32963 or any other zip code use the request form below.

The July 2024 Real Estate Market Report for Vero Beach Mainland shows that the market became a Sellers Market as sales increased amid steady inventory despite the typically slow summer season. On the other hand, sales prices have remained steady as buyers’ appetite for Vero Beach homes on the mainland is still intact. We’ll keep an eye on the market for the remainder of the summer to determine the market’s strength moving forward. Sale prices continue to stabilize and slightly declined from last month, but we are seeing that the elevated prices have affected and may continue to impact sales. We still need to observe the action the rest of the summer to determine how the market will behave moving forward. Following are some statistics for this month. Vero Beach Mainland Real Estate Market Insights   In July 2024, the Vero Beach Mainland became again a Sellers Market with a 24% Sales Ratio. There were 804 homes for sale on the mainland and 193 were sold in July 2024. The inventory (homes available for sale) in July 2024 slightly decreased from June but sellers still seek the opportunity to list their homes as buyers’ demand for homes on the mainland remains intact. . As we expect a steady flow of new inventory, it will eventually keep listing and sale prices steady for a while. In July 2024, homes sold for a median of 97.29% of list price, at slightly higher level than last month as buyers were still active this month. The most active price band for Vero Beach Mainland homes was again homes priced from $500,000 to $1,000,000, with 41 sales but with sales ratio of only 17%, as buyers are still targeting higher priced homes in Vero Beach mainland. In July 2024 the median sales price slightly decrease by 4% compared to June with median price of $361,000. The most active market in July 2024 was the Southeast County area with 288 homes for sale, 86 Pending Sales, 80 sales, 3.6 months of remaining inventory (absorption rate) and a Sellers Market. For a more comprehensive market analysis for a specific Vero Beach area or neighborhood on the Mainland or any other zip code use the request form below.

If you’re planning to sell your house, it’s essential to understand that buyers are actively looking and are prepared to pay today’s premium prices. However, they are specifically seeking move-in-ready homes. A recent press release from Redfin highlights this trend: “Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.” This perspective is reasonable given the substantial financial commitment required to purchase a home in the current market. Many buyers may not have the additional funds for renovations after closing the deal. Consequently, if your home appears outdated or requires repairs, potential buyers might overlook it or offer less than your desired price. The Need for Home Upgrades A significant number of homes are now entering their prime remodel years, defined as being between 20 and 39 years old. According to John Burns Research and Consulting (JBRC), the number of homes in this category is substantial and continues to grow. If your home is among these, making strategic updates can greatly enhance its appeal and expedite the selling process. How to Decide on Upgrades Determining where to invest in upgrades can be challenging. This is where a local real estate agent’s expertise becomes invaluable. Not all upgrades will provide a high return on investment. As Bankrate advises: “Before you spend money on costly upgrades, be sure the changes you make will have a high return on investment. It doesn’t make sense to install new granite countertops, for example, if you only stand to break even on them, or even lose money.” A knowledgeable real estate agent understands what local buyers expect and can help you prioritize necessary improvements. They can guide you in making smart investments by identifying which upgrades will truly enhance your home’s marketability and value. Why You Need a Real Estate Agent A good real estate agent will have a keen understanding of what buyers in your area are looking for and what they are willing to pay for. By collaborating with an agent, you can avoid unnecessary expenditures on improvements that may not yield a return. Instead, your agent will recommend changes that will make your home more appealing and valuable to potential buyers. Bottom Line Selling a home in today’s market requires more than simply putting up a For Sale sign. Ensuring your home is in excellent condition is crucial to attracting buyers who are willing to pay high prices. The best way to achieve this is by making informed improvements that offer the highest return on your investment. Let’s work together to understand what buyers are looking for and determine what your house needs before listing it for sale. This strategic approach will help you sell your home faster and at a price that meets your expectations.  Just complete the form below and I will contact you to discuss how to position your house for a quick sale and get the most money from that sale!

    As the presidential election season heats up, many prospective homebuyers, sellers, and real estate professionals start wondering: will the upcoming election shake up the housing market? This is a common concern, but history and data provide some reassuring insights. A Temporary Slowdown in Home Sales Historically, home sales tend to experience a slight slowdown in the month of November during a presidential election year. This is often attributed to the uncertainty and distraction that elections bring. Potential buyers and sellers might delay their decisions, waiting to see the outcome of the election and any potential policy changes that could follow. However, this slowdown is typically short-lived. Quick Rebound Post-Election The good news is that any dip in home sales is usually temporary. Once the election is over and the uncertainty dissipates, the market tends to bounce back quickly. Buyers who were previously hesitant often resume their search, and sellers who were holding off listing their homes move forward with their plans. This post-election rebound helps to stabilize the market and mitigate any prolonged impact. Consistent Price Growth Another important factor to consider is home prices. Despite the temporary slowdown in sales, home prices have historically continued to climb during and after election years. The demand for housing remains strong, driven by factors such as low inventory, demographic trends, and economic conditions. This continued price growth is a positive sign for homeowners and sellers, indicating that their property values are likely to remain stable or increase, even amidst the political changes. Slight Dip in Mortgage Rates Mortgage rates also play a critical role in the housing market, and presidential elections can have a subtle impact here as well. Historically, mortgage rates have shown a tendency to dip slightly around election time. This can be attributed to market uncertainty and the actions of the Federal Reserve. For buyers, this dip in rates can present an opportunity to secure a more favorable mortgage, potentially making homeownership more accessible. The Bottom Line Overall, while presidential elections can introduce a degree of uncertainty and a brief slowdown in home sales, the impact on the housing market is generally minor and short-lived. Prices continue to grow, and any dip in mortgage rates can benefit buyers. The housing market has proven to be resilient, bouncing back quickly once the election dust settles. If you have any questions or need personalized advice about navigating the housing market during an election year, don’t hesitate to reach out. Let’s chat and ensure you have all the information you need to make confident real estate decisions.  Just complete the form below and I will contact you to discuss your specific needs and concern and I will support you through every step of your real estate journey, election year or not.

The Vero Beach Real Estate Market Report for zip code 32963 in June 2024 shows that the real estate market became a Buyers Market for both Condos and Single Family homes on the barrier island amid slowing sales. Sales for condos and single family homes slightly decreased dramatically this month as demand for Vero Beach homes on the barrier island declined post strong winter season. Vero Beach real estate sale prices also decreased for both single family homes and Condos ion the barrier island in June of 2024. Following are some statistics for this month. Vero Beach Market for Single Family homes in 32963   In June 2024, the Vero Beach single-family homes market in 32963 became a Buyers Market with 13% Sales Ratio. There were 183 single family homes for sale on the island and 23 were sold in June 2024. The inventory (homes available for sale) in June 2024 decreased by 12% versus May of 2024. If inventory remains at these levels relative to demand, it is likely that will see that sale prices will adjust accordingly. Homes sold for a median of 95.48% of list price with an average of 82 Days on the Market (DOM) in June 2024, a slight decrease from last month as buyers’ were still looking for a place in Vero Beach. The most active price band for single family homes on the barrier island was again for homes between $500,000 and $1,000,000, with 7 sales and sales ratio of 22%. In June 2024 the median sales price for single-family homes decreased by 13% to $1,285,000 compared to May, as some buyers targeted lower priced single family homes on the barrier island. The most active market for single family homes on the island in June 2024 was the Central Beach area with 76 homes for sale, 25 Pending Sales, 11 sales, 6.9 months of remaining inventory (absorption rate) and a Balanced Market. The decrease in pending sales in June is an indicator that Summer could be slower for sales of single family homes on the island. Vero Beach Market for Attached Homes/Condominiums in 32963   There were 159 condos for sale on the island and only 11 were sold in June 2024. The Vero Beach condominium market in 32963 became a Buyers Market with only 7% Sales Ratio as buyers’ demand for condos on the island was muted this month. The inventory (condos available for sale) in June 2024 slightly decreased compared to May as some sellers were hesitant to lost their condos and still waiting to see a better market environment. Condos sold for a median of 96.99% of list price as the average of the Days on the Market (DOM) jumped by 82% to 104 DOM as buyers were a little more hesitant to commit to a purchase. The most active price band was for condos priced from $500,000 to $550,000, with only 2 sales and a sales ratio of 15% The median sales price for attached homes (condominiums) in June 2024 slightly decreased by 32% to $505,000 compared to May as lower priced condos appeared to be favored by the buyers. The most active market for condos in June 2024 on the barrier island was the Central Beach area with 67 condos for sale, 16 Pending Sales, 3 sales, 22.3 months of remaining inventory (absorption rate) and a Strong Buyers Market . For a more comprehensive market analysis for a specific Vero Beach area or neighborhood in 32963 or any other zip code use the request form below.

The June 2024 Real Estate Market Report for Vero Beach Mainland shows that the market became a Balanced Market as sales declined amid ample inventory and we have entered the slow summer time. However, sales prices have remained steady as buyers’ appetite for Vero Beach homes on the mainland is still intact. We’ll assess the market in the next couple of months to determine the market’s strength moving forward. Sale prices continue to stabilize and remained almost at the same level as last month, but we are seeing that the elevated prices have affected and may continue to affect sales. We still need to observe the action this summer to determine how the market will behave moving forward. Following are some statistics for this month. Vero Beach Mainland Real Estate Market Insights   In June 2024, the Vero Beach Mainland became a Balanced Market with a 19% Sales Ratio. There were 833 homes for sale on the mainland and 155 were sold in June 2024. The inventory (homes available for sale) in June 2024 slightly decreased from May but sellers still seek the opportunity to list their homes as buyers’ demand for homes on the mainland remains intact. . However, we expect that the steady flow of new inventory will keep listing and sale prices steady for a while. In June 2024, homes sold for a median of 96.94% of list price, at slightly lower level than last month as buyers were active this month. The most active price band for Vero Beach Mainland homes was again homes priced from $500,000 to $1,000,000, with 34 sales but with sales ratio of only 14%, as buyers are still targeting higher priced homes in Vero Beach mainland. In June 2024 the median sales price slightly increase by 2% compared to May with median price of $380,000. The most active market in June 2024 was the Southeast County area with 291 homes for sale, 92 Pending Sales, 55 sales, 5.3 months of remaining inventory (absorption rate) and a Sellers Market. For a more comprehensive market analysis for a specific Vero Beach area or neighborhood on the Mainland or any other zip code use the request form below.

  If you’ve seen recent news about home sellers slashing prices, it’s a classic case of headlines creating confusion. Here’s what’s really happening with prices.   Home prices are higher than they were a year ago and are expected to keep rising, albeit more slowly. This is also true here in the Vero Beach real estate market.  However, recent reports can be misleading. Redfin notes, “Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand,” which may suggest prices are declining.   The latest from Realtor.com shows 16.6% of homes on the market had price reductions in May, up from 12.7% last May. But this doesn’t mean overall home prices are falling.   Understanding Asking Price vs. Sold Price The asking price is what a seller hopes to get, while the sold price is what the buyer actually pays. Savvy buyers, strained by higher mortgage rates, are less willing to pay premium prices, leading sellers to adjust their asking prices. This adjustment often results in price reductions, which can sound like home prices are falling when they’re not.   Mike Simonsen, CEO of Altos Research, notes an increase in the share of homes with price cuts compared to last year. Despite this, actual sold prices are still rising and are expected to continue to do so over the next five years.   What Does This Mean for Home Prices? The increase in price reductions doesn’t indicate a decline in home values. It reflects a moderating demand, prompting sellers to adjust their expectations. According to the Federal Housing Finance Agency, home prices increased by 6.6% over the past year, indicating a strong market (see chart below).     Why This Is Good News for Buyers and Sellers For buyers, realistic asking prices mean a better chance of securing a home at a fair price. For sellers, adjusting the asking price can lead to faster sales and smoother transactions.   Bottom Line The rise in price reductions is a market adjustment, not a cause for concern. Home prices are still growing, just at a more moderate pace. If you are considering buying or selling a home in Vero Beach area, complete the following form with your contact information and I will get back to you to discuss your needs and identify the best options for your next move.