Vero Beach Mainland Market Report August 2023

The August 2023 Real Estate Market Report for Vero Beach Mainland shows that we are still in a Sellers Market with buyers continue to actively searching for homes on the mainland looking for value amid higher interest rates and low inventory. Sales were slightly decreased but sale prices remain steady.

Sale prices are stabilizing amid slowing activity and some price reductions indicating that the elevated prices continue to affect sales. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In August 2023, the Vero Beach Mainland was again a Sellers Market with a 33% Sales Ratio.
• There were 480 homes for sale on the mainland but only 157 were sold in August 2023.
• The inventory (homes available for sale) in August 2023 remained steady from July as sellers are hesitating to list their homes amid increasing interest rates. The steady flow of new inventory may keep listing and sale prices steady.
• In August 2023, homes sold for a median of 98.36% of list price, at slightly higher level as last month as prices are stabilizing.
• 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 20%, with buyers still targeting higher priced homes in Vero Beach mainland.
• In August 2023 the median sales price slightly increased by 3% compared to July with median price at $350,000.
• The most active market in August 2023 was again the Southeast County area with 181 homes for sale, 93 Pending Sales, 65 sales, 2.8 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.