The September 2023 Real Estate Market Report for Vero Beach Mainland shows that we continue to have a Sellers Market with buyers continue to actively looking for homes on the mainland trying to find good value amid low inventory. Sales were again slightly decreased but sale prices edged higher. Sale prices are stabilizing amid slowing activity with some price adjustments indicating that the elevated prices continue to affect sales. We wait to see whether the upcoming winter season play a role in demand and sale prices. Following are some statistics for this month. Vero Beach Mainland Real Estate Market Insights   In September 2023, the Vero Beach Mainland was again a Sellers Market with a 29% Sales Ratio. There were 535 homes for sale on the mainland but only 154 were sold in September 2023. The inventory (homes available for sale) in September 2023 increased slightly from August as sellers are still hesitating to list their homes amid ongoing increases in interest rates. The steady flow of new inventory may keep listing and sale prices steady. In September 2023, homes sold for a median of 97.84% of list price, at slightly lower level than last month as prices are still rising. 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 23%, as buyers are still targeting higher priced homes in Vero Beach mainland. In September 2023 the median sales price slightly increased by 4% compared to August with median price at $367,500. The most active market in September 2023 was again the Southeast County area with 204 homes for sale, 74 Pending Sales, 62 sales, 3.3 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.    

Buying a home is exhilarating, yet it’s laden with regret for some new homeowners. They often find themselves wishing they’d done things differently. Regrets range from overspending and rushing the buying process to skipping vital steps like home inspection. I’m here to guide you in steering clear of these common pitfalls to ensure your home-buying experience is as smooth and satisfying as possible.#1. OverpayingNobody wants to pay more than they should for their new home. It’s essential to make informed decisions, avoiding costly mistakes such as choosing the wrong mortgage. A staggering number of buyers miss out on savings by not searching for the best rates. Ensure to compare financing options and seek mortgage pre-approval to comprehend what’s affordable for you. The research by LendingTree suggests that buyers in major metro areas lose an average of $63,151 over the life of their loan just by picking the first mortgage they’re offered.4Key Takeaway: Don’t rush; research and get the best deal to secure your financial future.#2 Rushing The Home PurchaseIn a world where speed is king, take a breath and step back during your home search. Rushing can lead to oversights, like missing out on vital property details or overspending. Keep your emotions at bay and walk through the home buying journey with a clear, rational mind.  According to a recent survey by Anytime Estimate, nearly 3 out of 4 buyers who purchased a home in 2021 or 2022 still have a few regrets.1Key Takeaway: Know what you desire and can afford; move with confidence, not impulsivity.#3 Uncovering the Hidden Costs of HomeownershipMany first-time homeowners are taken aback by unexpected expenses. Remember, the cost of the house is just the tip of the iceberg. Factor in other expenses like maintenance, property taxes, insurance, and repairs. Understand that some homes have unique costs and ensure to account for these in your budget. According to Anytime Estimate, for example, nearly half of the homebuyers who regret their purchase said they underestimated how much they would spend to live in it.1Key Takeaway: A comprehensive cost assessment protects your wealth and ensures a financially sound homeownership experience.#4 Underestimating Time for Maintenance or RenovationEnsure your new home allows you to relax and doesn’t become a constant project that drains your time and energy. Consider the maintenance and renovation needs of the property and evaluate whether it aligns with your lifestyle and schedule. According to a survey by Hippo, for example, 47% of homeowners who feel some regret about their home purchase complain that too much maintenance and upkeep is required.6Key Takeaway: Choose a home that fits your temperament, offering peace and joy rather than endless tasks and expenses.#5 Ignoring Home Inspection: An Unskippable StepEager to make a purchase, some buyers overlook the critical step of home inspection. It’s a small investment for significant peace of mind, helping you avoid unexpected expenses and hassles down the line. Ensure your presence during the inspection and understand the potential issues and their implications.Key Takeaway: Value the inspection process for a regret-free, well-informed purchase.#6 Selecting the Perfect FitThe allure of stunning features should not overshadow the practical aspects of your new home. Avoid making compromises that will interfere with your quality of life. Identify and stick to your priorities for a harmonious living experience.Key Takeaway: Let your home be the sanctuary where convenience and contentment dwell, aligning with your lifestyle and needs.#7 Getting Professional Guidance & HelpThe complexity of real estate transactions necessitates the expertise of a seasoned real estate agent. With their extensive market knowledge and negotiation skills, they’re indispensable in your home-buying journey, helping you avoid common mistakes and ensuring a seamless, satisfying experience. It is no surprise that 86% of buyers enlist the help of an agent when purchasing a home. And the vast majority find their assistance to be invaluable: 89% say they would use their agent again or recommend them to others.8Key Takeaway: Trust the experts for a smooth, error-free home purchase, enhancing your confidence and peace of mind.In ConclusionEmbrace the journey of home-buying with awareness and preparedness. Avoid common regrets by being informed, patient, and prudent throughout the process. My goal is to assist you in navigating this path, ensuring you make choices you’ll be content with for years to come. For a guided, regret-free home-buying experience, reach out today for a free consultation, and let’s embark on this exciting journey together, ensuring your satisfaction every step of the way. Just fill in the form below and I will contact you to go over the best way to buy your dream home in Vero Beach Florida. Vero Beach Home Buyer Form: Name:* First Last Email:* Phone:Message:I want to buy my dream home in Vero Beach area. Sources:LendingTree – https://www.lendingtree.com/home/mortgage/homebuying-process-survey/Anytime Estimate – https://anytimeestimate.com/research/american-home-buyers-2022/Zillow Home Loans –https://zillow.mediaroom.com/2022-11-18-Prospective-home-buyers-spend-about-as-much-time-researching-new-TVs-as-they-do-mortgage-lendersLendingTree – https://www.lendingtree.com/home/mortgage/mortgage-shopping-study/CNBC – https://www.cnbc.com/2022/05/01/survey-majority-of-homeowners-have-regrets.htmlHippo –https://www.hippo.com/blog/2022-hippo-housepower-report-how-homeowners-are-responding-essential-maintenance-duringRealtor.com – https://www.realtor.com/advice/sell/how-soon-can-you-sell-a-house-after-buying/National Association of Realtors –https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers#homebuyers

The Vero Beach Real Estate Market Report for zip code 32963 in August 2023 shows that we have shifted to a more balanced market with condos moving to a buyers market. The inventory was slightly decreased again this month with buyers’ demand for Vero Beach homes on the barrier island continues to wane amid low inventory and higher interest rates. Vero Beach real estate sales decreased dramatically in August 2023 and almost at par with the same period in 2022. Following are some statistics for this month. Vero Beach Market for Single Family homes in 32963   In August 2023, the Vero Beach single-family market in 32963 was a Balanced Market with 15% Sales Ratio. There were 130 single family homes for sale on the island and only 19 were sold in August 2023. The inventory (homes available for sale) in August 2023 remained almost at the same level as last month. If inventory continues to remain steady relative to demand, it is likely that will be affecting sale prices, as we continue to see more price reductions. Homes sold for a median of 94.74% of list price in August 2023, an evidence of buyers demand is waning. 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 6 sales and sales ratio of 27%. In August 2023 the median sales price for single-family homes decreased by 8% to $1,442,500 compared to July. The most active market for single family homes on the island in August 2023 was the South Beach area with 29 homes for sale, 9 Pending Sales, 7 sales, and 4.1 months of remaining inventory (absorption rate) and a Sellers Market. Vero Beach Market for Attached Homes/Condominiums in 32963   There were 67 condos for sale on the island and only 8 were sold in August 2023. The Vero Beach condominium market in 32963 moved to a buyers market with only 12% Sales Ratio as buyers are assessing the higher list prices amid higher interest rates. The inventory (condos available for sale) in August 2023 decreased by 6% compared to July as sellers are reluctant to list their condos amid higher interest rates and economic slow down. Condos sold for a median of 96.94% of list price with an average of 64 Days on the Market (DOM) in August 2023, as buyers’ demand for condos on the island (area code 32963) appears to be waning. The most active price band was for condos priced from $400,000 to $450,000, with only 3 sales and a sales ratio of 50% The median sales price for attached homes (condominiums) in August 2023 dropped by 20% to $430,000 compared to July as more lower priced condos were sold on the island. The most active market for condos in August 2023 on the barrier island was the Beach City area with 28 condos for sale, 6 Pending Sales, 4 sales, 7.0 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 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.    

The Vero Beach Real Estate Market Report for zip code 32963 in July 2023 shows that we experienced some divergence between the condo market which is still a sellers market and the single family homes market is now a balanced market. The inventory was slightly decreased while buyers’ demand for Vero Beach homes on the barrier island has waned a bit as we had fewer sales. Vero Beach real estate sales slightly decreased again in July 2023 but surpassed the sales during the same period in 2022. Following are some statistics for this month. Vero Beach Market for Single Family homes in 32963   In July 2023, the Vero Beach single-family market in 32963 was a Balanced Market with 19% Sales Ratio. There were 128 single family homes for sale on the island and only 24 were sold in July 2023. The inventory (homes available for sale) slightly decreased in July 2023 but still 148% higher than the same period in 2022. If inventory continues to remain steady relative to demand, it is likely that will be affecting pricies, as we continue to see more price reductions. Homes sold for a median of 95.26% of list price in July 2023, an evidence of buyers are negotiating on list prices. The most active price band for single family homes on the barrier island was for homes between $500,000 and $1,000,000, with 8 sales and sales ratio of 33%. In July 2023 the median sales price for single-family homes increased by 7% to $1,562,500 compared to June. The most active market for single family homes on the island in July 2023 was again the Central Beach area with 48 homes for sale, 14 Pending Sales, 8 sales, and 6.0 months of remaining inventory (absorption rate) and barely a Sellers Market. Vero Beach Market for Attached Homes/Condominiums in 32963   There were 71 condos for sale on the island and 19 were sold in July 2023. The Vero Beach condominium market in 32963 continues to be a favorite with buyers and it is still a Sellers Market with an 27% Sales Ratio amid steady inventory. The inventory (condos available for sale) in July 2023 slightly increased by 1% compared to June and still 125% higher than the same period last year. Condos sold for a median of 95.92% of list price with an average of 70 Days on the Market (DOM) in July 2023, as buyers’ demand for condos on the island (area code 32963) is still intact. The most active price band was for condos priced from $1,000,000 to $2,000,000, with 4 sales and a sales ratio of 31% The median sales price for attached homes (condominiums) in July 2023 dropped by 46% to $536,000 compared to June as more lower priced condos were sold on the island. The most active market for condos in July 2023 on the barrier island was again the Central Beach area with 21 condos for sale, 32 Pending Sales, 13 sales, 1.6 months of remaining inventory (absorption rate) and a Sellers Market. For a more comprehensive market analysis for a specific Vero Beach area or neighborhood in 32963 or any other zip code use the request form below.  

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.

The Vero Beach Real Estate Market Report for zip code 32963 in June 2023 shows that we continue to be in a sellers market for both single family homes and condos on the island as buyers were very active even as we entered the summer season. The inventory was slightly increased while buyers’ demand for Vero Beach homes on the barrier island is still intact resulting in more slaes and higher sale prices. Vero Beach real estate sales slightly increased again in June 2023 and also surpassed the sales during the same period in 2022. Following are some statistics for this month. Vero Beach Market for Single Family homes in 32963   In June 2023, the Vero Beach single-family market in 32963 was still a Sellers Market with 35% Sales Ratio. There were 136 single family homes for sale on the island and 48 were sold in June 2023. The inventory (homes available for sale) slightly increased in June 2023 and still 175% higher than the same period in 2022. If inventory continues to remain steady relative to demand, it is likely that will affect pricing, as we continue to see more price reductions. Homes sold for a median of 94.70% of list price in June 2023, an evidence of buyers bidding down list prices. The most active price band for single family homes on the barrier island was was for homes between $1,500,000 and $2,000,000, with 8 sales and sales ratio of 38%. In June 2023 the median sales price for single-family homes increased by 12% to $1,455,000 compared to May. The most active market for single family homes on the island in June 2023 was again the Central Beach area with 43 homes for sale, 16 Pending Sales, 17 sales, and 2.5 months of remaining inventory (absorption rate) and a Strong Sellers Market. Vero Beach Market for Attached Homes/Condominiums in 32963   There were 70 condos for sale on the island and 219 were sold in June 2023. The Vero Beach condominium market in 32963 continues to be a favorite with buyers and it is a Sellers Market with an 27% Sales Ratio amid steady inventory. The inventory (condos available for sale) in June 2023 slightly increased by 4% compared to May and still 143% higher than the same period last year. Condos sold for a median of 100% of list price with an average of 43 Days on the Market (DOM) in June 2023, as strong buyers’ demand and sales of higher priced condos on the island (area code 32963) keep median price high. The most active price band was for condos priced over $2,000,000, with 6 sales and a sales ratio of 75% The median sales price for attached homes (condominiums) in June 2023 jumped by 53% to $988,000 compared to May as more higher priced condos were sold. The most active market for condos in June 2023 on the barrier island was again the Central Beach area with 23 condos for sale, 38 Pending Sales, 8 sales, 2.9 months of remaining inventory (absorption rate) and a Sellers Market. The increase agin in Pending Sales indicates that buyers’ appetite for condos on the island is still intact. 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 2023 Real Estate Market Report for Vero Beach Mainland shows that we continue to be in a Sellers Market with buyers actively looking for homes on the mainland even as the summer season came upon us. Sales and sale prices remained at almost the same levels as the previous month while the inventory slightly decreased. Sale prices are stabilizing but we continue to see some price reductions indicating that the elevated prices are affecting sales. Following are some statistics for this month. Vero Beach Mainland Real Estate Market Insights   In June 2023, the Vero Beach Mainland was again a Sellers Market with a 39% Sales Ratio. There were 5488 homes for sale on the mainland and 191 were sold in June 2023. The inventory (homes available for sale) in June 2023 slightly decreased by 6% from May but still 186% higher compared to the same month in 2022. The decrease in inventory is certainly a welcoming sign for the sellers and may keep sale prices steady. In June 2023, homes sold for a median of 97.42% 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 50 sales and sales ratio of 40%, as more higher priced homes were sold in Vero Beach mainland. In June 2023 the median sales price for mainland homes remained almost the same as in May with median price at $354,900. The most active market in June 2023 was again the Southeast County area with 181 homes for sale, 111 Pending Sales, 82 sales, 2.2 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.

The Vero Beach Real Estate Market Report for zip code 32963 in May 2023 shows that buyers were still very active and we continue to be in a sellers market for both single family homes and condos on the island. The inventory was again slightly decreased while buyers’ demand for Vero Beach homes is still intact resulting in more closings and higher sale prices. Vero Beach real estate sales increased again in May 2023 and at almost the same levels as during the 2022 season. Following are some statistics for this month. Vero Beach Market for Single Family homes in 32963   In May 2023, the Vero Beach single-family market in 32963 was still a Sellers Market with 39% Sales Ratio. There were 129 single family homes for sale on the island and 50 were sold in May 2023. The inventory (homes available for sale) decreased again in May but still 234% higher than the same period in 2022. If inventory continues to remain steady relative to demand, it is likely that will affect pricing, as we have started seeing more price reductions. Homes sold for a median of 93.73% of list price in May 2023, an evidence of buyers not accepting sellers’ list prices. The most active price band for single family homes on the barrier island was $500,000 to $1,000,000 , with 14 sales and sales ratio of 508%. In May 2023 the median sales price for single-family homes increased by 26% to $1,325,000 compared to April. The most active market for single family homes on the island in May 2023 was again the Central Beach area with 36 homes for sale, 27 Pending Sales, 25 sales, and 1.4 months of remaining inventory (absorption rate) and a Strong Sellers Market. Vero Beach Market for Attached Homes/Condominiums in 32963   There were 67 condos for sale on the island and 26 were sold in May 2023. The Vero Beach condominium market in 32963 continues to be a favorite with buyers and it is a Sellers Market with an 39% Sales Ratio amid steady inventory. The inventory (condos available for sale) in May 2023 slightly decreased by 3% compared to April and still 176% higher than the same period last year. Condos sold for a median of 95.23% of list price with an average of 59 Days on the Market (DOM) in May 2023, but strong sales of higher priced condos on the island (area code 32963) keep prices high. The most active price band was again $1,000,000 to $2,000,000, with 5 sales and a sales ratio of 50% The median sales price for attached homes (condominiums) in May 2023 slightly increased by 3% to $660,000 compared to April as more higher priced condos were sold. The most active market for condos in May 2023 on the barrier island was again the Central Beach area with 28 condos for sale, 34 Pending Sales, 12 sales, 2.3 months of remaining inventory (absorption rate) and a Sellers Market. The increase in Pending Sales will indicates that buyers’ demand for condos on the island is still intact. 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.