Vero Beach Mainland Market Report July 2023

The July 2023 Real Estate Market Report for Vero Beach Mainland shows that we are still in a Sellers Market with buyers continue to actively look for homes on the mainland even in the heart of the summer season. However, sales and sale prices slightly decreased amid steady inventory.

Sale prices are stabilizing as we continue to see some price reductions indicating that the elevated prices have affected sales. Following are some statistics for this month.

Vero Beach Mainland Real Estate Market Insights

• In July 2023, the Vero Beach Mainland was again a Sellers Market with a 37% Sales Ratio.
• There were 479 homes for sale on the mainland but only 175 were sold in July 2023.
• The inventory (homes available for sale) in July 2023 slightly decreased by 2% from June but still 153% higher compared to the same month in 2022. The decrease in inventory is certainly a welcoming sign for the sellers keeping listing and sale prices steady.
• In July 2023, homes sold for a median of 96.77% of list price, at almost the same 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 34sales and sales ratio of only 26%, as buyers are targeting higher priced homes in Vero Beach mainland.
• In July 2023 the median sales price slightly decreased by 3% compared to June with median price at $342,500.
• The most active market in July 2023 was again the Southeast County area with 173 homes for sale, 107 Pending Sales, 67 sales, 2.6 months of remaining inventory (absorption rate) and a Strong 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.