Ron Cochran - VB Island Mid-Year Market Report

2014 Vero Beach Island Mid-Year Real Estate

MARKET REPORT

940 Turtle Cove Lane #306 TURTLE COVE.VERO BEACH Offered at $439,000

Ron Cochran

772.321.4220 Ron@RonCochran.com www.FLColdwellBanker.com/RonCochran

VERO BEACH 1950 US Hwy. 1 772.778.2029

2014 Vero Beach Island Mid-Year Real Estate Report As specialists in our area, we are pleased to present mid-year key market indicators impacting local real estate values this year. We use this information to forecast market trends that are likely to occur throughout the year. Buyers, sellers and homeowners can make informed decisions based on current and comprehensive information specific to our area.

Historically, both the housing market and economy have been cyclical. After years of declining real estate values, stabilization is finally at hand. The indicators reflect mixed results for mid-year 2014 compared to the same time period a year earlier. Sales activity in most categories increased, and inventory levels remained close to stable, or decreased. However changes in the average sales prices varied in different market segments. The overall data suggests that a positive change in our local real estate market is well underway.

We invite your inquiries and welcome the opportunity to be of service to you. Please contact us directly at our Vero Beach US 1 office 772-778-2029, Island Previews office 772-231-4880, our Sebastian office 772-589-7777, or our North Hutchinson office 772-464-7007.

If you would like to continue getting our quarterly updates, just let us know. Email us at Schlitt@ColdwellBanker.com. We will make sure that a copy is delivered to you quarterly.

All the best, Linda Schlitt Gonzalez and Steven Schlitt, Owners

VERO BEACH ISLAND SINGLE FAMILY HOMES MID-YEAR 2014 COMPARISON TO MID-YEAR 2013 Price Point Under $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2014

99

96

5.8

$350,125

2013

101

128

7.6

$361,213

Change

-2%

-25%

-24%

-3%

2014

84

98

7

$707,478

2013

91

158

10.4

$690,748

Change

-8%

-38%

-33%

+2%

2014

61

136

13.4

$2,162,597

2013

44

206

28.1

$1,595,954

Change

+39%

-34%

-52%

+36%

2014

244

330

8.1

$926,266

2013

236

492

12.5

$718,485

Change

+3%

-33%

-35%

+29%

VERO BEACH ISLAND CONDOS MID-YEAR 2014 COMPARISON TO MID-YEAR 2013 Price Point Under $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2014

149

107

4.3

$262,869

2013

128

205

9.6

$254,517

Change

+16%

-48%

-55%

+3%

2014

33

36

6.5

$705,810

2013

17

63

22.2

$651,241

Change

+94%

-43%

-71%

+8%

2014

6

19

19

$1,594,166

2013

3

27

54

$1,366,666

Change

100%

-30%

-65%

+17%

2014

188

162

5.2

$383,108

2013

148

295

12

$322,630

Change

+27%

-45%

-56%

+19%

EXCLUSIVELY PRESENTING:

$675,000

$595,000

$579,900

2245 Beachside Lane

3554 Ocean Drive Unit 303

2077 Indian Summer Lane

$495,000

$429,000

$375,000

1760 Coral Way North

576 Date Palm

1480 Ocean Drive Unit #1D

BEACHSIDE • VERO BEACH

SEA GROVE • VERO BEACH

VILLAGE SPIRES • VERO BEACH

STEPS TO BEACH • VERO BEACH

SEASONS • VERO BEACH

OCEANFRONT • VERO BEACH

WE INVITE YOU TO VIEW OUR ENTIRE COLLECTION AT: FLColdwellBanker.com

PRSRT SSTD ECRWSS U.S. POSTAGE PAID EDDMRETAIL

A SELECTION OF RECENT SOLDS: S OL D IN 1 3 DAYS!

Asking Price $679,000

SILVER SHORES • VERO BEACH

SOLD for $650,000 Asking Price $429,000

713 Shore Drive

Asking Price $680,000

RIOMAR • VERO BEACH

SOLD for $660,000

1956 Club Drive

Ron Cochran

4800 Highway A1A

Asking Price $550,000

SOLD for $500,000 Asking Price $299,999

SHORELANDS • VERO BEACH

1561 Shorelands Drive

SOLD for $280,000

CALEDON SHORES • VERO BEACH

4600 Highway A1A

Ron, Thank you so much for handling the listing and sale of my mom’s house after her passing. It was a difficult time for the family. You provided great guidance to us through the entire transaction from the moment we first talked with you all the way through to the final closing of the sale.

Without your help I am sure it would have taken much longer and we appreciate the way the sale was expedited. Coldwell Banker Paradise was magnificent and their marketing program was unbelievably efficient and has to be unmatched. Our entire family thank you for all you did in helping us in the first step in continuing our lives after our loss. We all wish you continued success in all your future endeavors.

-Kathy and Frank Harber

772.321.4220 Ron.Cochran@ColdwellBanker.com www.FLColdwellBanker.com/RonCochran

SOLD for $425,000

SEAQUAY • VERO BEACH

VERO BEACH 772.778.2029