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2016 Vero Beach Mainland 1st Quarter Real Estate

MARKET REPORT

VERO BEACH

1950 US Hwy. 1 772.778.2029

SEBASTIAN

1209 US Hwy. 1 772.589.7777

ISLAND PREVIEWS 4625 Hwy. A1A 772.231.4880

N. HUTCHINSON 4007 N. Hwy. A1A 772.464.7007

Vero Beach Mainland 2016 1st Quarter Report Pricing Determines Sales in the Vero Beach Housing Market After a robust 2015 year in sales and price appreciation, 2016 is proving more cautious for buyers looking for Vero Beach property, reports Coldwell Banker Paradise in their 2016 First Quarter Market Report. “Buyers are taking a more cautious approach to their real estate purchases this year,” said Linda Schlitt Gonzalez, co-owner and broker with Coldwell Banker Paradise. “This next quarter will tell us if this is a trend or not.

It is something we are monitoring closely,” added Gonzalez.

“If you are looking to list your home in Vero Beach right now, it’s important to work with a savvy realtor who will help you price your home correctly, so it sells fast,” said Sharon Murbarger, sales manager with Coldwell Banker Paradise’s Vero Beach offices. “It’s real easy for sellers to get excited because the market is doing so much better, and get aggressive in their pricing. Then they get discouraged when their homes don’t sell and think it’s because people aren’t buying, and that’s simply not the case.”

The market for single family homes in Vero Beach is stable and healthy with values up across the board +5.9%. Home prices in the price range of over $500,000 have increased the most, with a +37.6% increase. “The fact is, our agents have buyers who are looking to buy. Well-priced homes are just not sitting on the market for very long at all,” said Murbarger. “On top of that, we are seeing the results of baby boomers retiring

and investors with money to spend, so inventory can hardly keep pace with the demand.

With a lack of available homes, now is precisely the right time for homeowners to explore just what their house might be worth. “National studies have shown that those online sites can be off by up to 21%. The only real number a homeowner can trust is from a reputable, professional Realtor who specializes in their neighborhood. With over 80 professional real estate agents specializing in the Indian River County market, and serving over 100 miles along the Treasure and Space Coast, we have the experience and tools to price your home right and market it to the ideal buyer for the quickest sale at the highest possible price.”

Voted favorite Indian River County brokerage by the readers of Treasure Coast Newspapers, Coldwell Banker Paradise prides itself on providing the best market knowledge available to home buyers and sellers through its Quarterly Market Reports and its knowledgeable agents. “Our agents are the experts, they are in the neighborhoods, seeing what is selling and why. Ask our agents today,” urged Schlitt. You can reach our Vero Beach Office at 772-778-2029.

SINGLE FAMILY HOMES Price Point Under $250,000

$250,001 to $500,000

Over $500,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2016

273

263

2.9

$152,334

2015

309

358

3.5

$135,857

Change

-11.7%

-26.5%

-17.4%

+12.1%

2016

78

256

9.8

$325,192

2015

73

244

10.0

$331,803

Change

+6.8%

+4.9%

-1.5%

-2.0%

2016

10

109

32.7

$694,705

2015

18

63

10.5

$505,000

Change

-44.4%

+73.0%

+211.4%

+37.6%

2016

361

628

5.2

$204,707

2015

400

665

5.0

$193,269

Change

-9.8%

-5.6%

+4.4%

+5.9%

CONDOS Price Point Under $250,000

$250,001 to $500,000

Over $500,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2016

90

129

4.3

$89,039

2015

113

145

3.8

$76,555

Change

-20.4%

--11.0%

+13.2%

+16.3%

2016

1

5

15.0

$255,000

2015

4

8

6.0

$374,375

Change

-75.0%

-37.5%

+150.6%

-31.9%

2016

3

6

6.0

$986,167

2015

2

5

7.5

$635,000

Change

+50.0%

+20.0%

-20.0%

+55.3%

2016

94

140

4.5

$119,436

2015

119

158

4.0

$95,951

Change

-21.0%

-11.4%

+11.7%

+24.5%

E XC LU S I V E LY P R E S E N T I N G :

VERO BEACH - $1,100,000

VERO BEACH - $795,000

VERO BEACH - $699,000

VERO BEACH - $599,900 As Seen on Cover!

w w w. f l c o l d w e l l b a n k e r . c o m

A SELECTION OF RECENT SOLDS:

Vero Beach 3342 Burlington PL $254,000

Vero Beach 1416 35th AVE $172,000

Vero Beach 2647 12th SQ SW Vero Beach 1943 5th CT SE $154,000 $142,500

C O L D W E L L VERO BEACH MAINLAND 772-778-2029

Vero Beach 642 Lake Orchid CIR $195,000

B A N K E R VERO BEACH ISLAND 772-231-4880

SEBASTIAN MAINLAND

772-589-7777

P A R A D I S E

INDIALANTIC BREVARD 321-951-3300

NORTH HUTCHINSON 772-464-7007