Vero Beach Mainland Year End Real Estate Market Report

2014 Vero Beach Mainland Year End Real Estate

MARKET REPORT

2265 7th Avenue SE Riverpoint • Vero Beach Offered at $549,900

VERO BEACH 1950 US Hwy. 1 772.778.2029

ISLAND PREVIEWS 4625 Hwy. A1A 772.231.4880

SEBASTIAN 1209 US Hwy. 1 772.589.7777

N. HUTCHINSON 4007 N. Hwy. A1A 772.464.7007

2014 Vero Beach Mainland Year End Real Estate Report

Whether you’re thinking about buying a home, selling your home, or you’re just curious about your home’s value, it’s important to know about trends in the real estate market that could impact your home’s value and your financial security. Unfortunately, information about price appreciation and sales activity that is published by traditional media forums is very general and may not be consistent with what’s happening in your neighborhood or price point. Information contained in this report is designed to give you greater insight into trends that are occurring in your neighborhood, by price point.

In general, 2014 proved to be another good year for real estate sales and appreciation. While single-family home sales activity increased, the average price of homes remained nearly the same. Condominium sales on the mainland experienced mixed results. Average condominium prices increased 16% on the lower end of the market, but dropped significantly for condominium residences sold between $250,000 and $500,000.

With limited sales above $1,000,000, it’s difficult to track trends that apply to this sector of the market. In 2015, we expect the full recovery that has occurred for residential prices under $250,000 to also occur in the $250,000-$500,000 price range. This could lead to a moderate increase in prices. We may not see healthy market conditions for residential properties sold over $500,000 until 2016.

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, our Island Previews office 772-231-4880, our Sebastian office 772589-7777, or our North Hutchinson office 772-464-7007. All discussions are strictly confidential.

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 MAINLAND SINGLE FAMILY HOMES YEAR END 2014 COMPARISON TO YEAR END 2013 Price Point Under $250,000

$250,001 to $500,000

Over $500,000

Over $1,000,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2014

1,304

393

3.6

$129,803

2013

1,228

441

4.3

$128,104

Change

+6%

-11%

-16%

+1%

2014

295

234

9.5

$328,865

2013

290

203

8.4

$326,176

Change

+2%

+15%

+13%

+1%

2014

37

53

17.2

$662,060

2013

28

52

12

$653,548

Change

+32%

+2%

+43%

+1%

2014

3

11

44

$1,643,333

2013

0

10

0

0

Change

300%

+10%

0%

0%

2014

1,639

691

5.1

$180,418

2013

1,546

706

5.5

$174,775

Change

+6%

-2%

-7%

+3%

VERO BEACH MAINLAND CONDOS YEAR END 2014 COMPARISON TO YEAR END 2013 Price Point Under $250,000

$250,001 to $500,000

Over $1,000,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2014

455

165

4.4

$73,538

2013

412

211

6.1

$63,312

Change

+10%

-22%

-28%

+16%

2014

5

6

14.4

$354,000

2013

7

7

12

$384,714

Change

-29%

-14%

+20%

-8%

2014

3

4

16

$796,666

2013

6

5

10

$608,583

Change

-50%

-20%

+60%

+31%

2014

463

175

4.5

$81,253

2013

425

223

6.3

$82,120

Change

+9%

-22%

-29%

-1%

EXCLUSIVELY PRESENTING:

$699,000

$325,000

$310,000

7325 65th Street

190 56th Drive

6421 34th Lane

INDIAN RIVER FARMS • VERO BEACH

HAMMOCK LAKES • VERO BEACH

OAK CHASE • VERO BEACH

$302,900

$284,900

$215,007

6453 34th Place

3945 8th Lane

5007 Corsica Square

OAK CHASE • VERO BEACH

LAURELS • VERO BEACH

ISLES AT WATERWAY VILLAGE • 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 2 7 DAYS!

Listing Price $450,000

BLACK BEAR RESERVE • VERO BEACH

SOLD for $351,000

SOLD for $430,000 Listing Price $377,500

SEASONS • VERO BEACH

9165 Seasons Terrace

6315 Salmon Place

SOL D I N 2 7 DAYS !

Listing Price $375,000

SOLD for $356,000 Listing Price $235,000 SOLD for $225,000 Listing Price $189,000 SOLD for $180,000 HAMMOCK LAKES • VERO BEACH

RIVERWIND • VERO BEACH

5355 1st Square

1154 Riverwind Circle

C

GROVE ISLE CONDO • VERO BEACH

839 Lake Orchid Circle

oldwell Banker Paradise is the largest real estate brokerage firm in the area, with 9 offices serving St. Lucie, Indian River and Brevard Counties. We are commited to providing the highest level of real estate services to our clients.

For over 60 years our family-owned and operated company has assembled a highly trained and professional sales organization. We have specialists in residential and commercial sales, leasing services for both, as well as a property management division.

Whether you are considering buying, selling, leasing or professional management of your property, give us a call. We are open 7 days a week for your convenience.

VERO BEACH ISLAND PREVIEWS 772.778.2029

772.231.4880

SEBASTIAN 772.589.7777

N. HUTCHINSON 772.464.7007