Vero Beach Market Report for 32963 April 2024

The Vero Beach Real Estate Market Report for zip code 32963 in April 2024 shows that the real estate market became a Balanced Market for both Condos and Single Family homes on the barrier island as inventory and sales improved . The inventory for condos and single family homes slightly increased again this month as we are now at the tail end of the winter season and buyers’ demand for Vero Beach homes on the barrier island remains steady.

Vero Beach real estate sales increased for both single family homes and Condos ion the barrier island in March of 2024. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In April 2024, the Vero Beach single-family homes market in 32963 became a Balanced Market with 20% Sales Ratio.
• There were 205 single family homes for sale on the island and 40 were sold in April 2024.
• The inventory (homes available for sale) in April 2024 decreased slightly by 6% versus March of 2024. If inventory remains steady relative to demand, it is likely that will see that sale prices will stabilize.
• Homes sold for a median of 93.94% of list price with an average of 95 Days on the Market (DOM) in April 2024, a slight decrease from last month as buyers’ were still active as the winter season came to an end.
• 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 12 sales and sales ratio of 36%.
• In April 2024 the median sales price for single-family homes decreased by 11% to $1,325,000 compared to March, as some buyers were still targeting lower priced single family homes on the island.
• The most active market for single family homes on the island in April 2024 was the Central Beach area with 89 homes for sale, 35 Pending Sales, 16 sales, and 5.6 months of remaining inventory (absorption rate) and a slight Buyers’ Market. The increase in pending sales is also a good indicator that May could be a good month for sales of single family homes on the island.

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 168 condos for sale on the island and 26 were sold in April 2024.
• The Vero Beach condominium market in 32963 became a Balanced Market with 15% Sales Ratio as buyers were again targeted condos on the island this month.
• The inventory (condos available for sale) in April 2024 decreased by 6% compared to March as some sellers are still waiting to see a better economic environment to list their condos.
• Condos sold for a median of 93.90% of list price but the average of the Days on the Market (DOM) jumped by 63% to 98 DOM as buyers were a little hesitant to commit to a purchase.
• The most active price band was for condos priced from $1M to $2M, with 4 sales but with a sales ratio of only 15%
• The median sales price for attached homes (condominiums) in April 2024 slightly increased by 2% to $722,500 compared to March as lower priced condos continued to be in favor for the buyers.
• The most active market for condos in April 2024 on the barrier island was the Central Beach area with 72 condos for sale, 30 Pending Sales, 14 sales, 5.1 months of remaining inventory (absorption rate) and a slight Sellers 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.