1st Quarter Vero Beach Mainland Market Report_Ben Bryk

Vero Beach

RECENTLY SOLD Ben Bryk, REALTOR 772-713-9455

SOLD $674,000 2265 6th Court SE

SOLD $369,000

5149 Formosa Circle

SOLD $345,000

4575 Ashley Lake Circle

SOLD $284,,000 1271 Veranda Way

bentherealestateguy@gmail.com

SOLD $380,000

SOLD $375,000

SOLD $364,000

SOLD $350,000

1220 Ansley Avenue SW

1010 Quail Court SW

6150 37th Street

6550 35th Lane

SOLD $335,000

SOLD $290,000

5347 Antigua Circle

113 12th Street SE

SOLD $279,000

Homes are selling fast!

Call to see how much your home is worth!

Ben Bryk, REALTOR® 772-713-9455

2640 Heron Bay Lane SW

ABOUT BEN BRYK, REALTOR® I have lived in Vero Beach for over 15 years. I was born and raised in Connecticut. I have a Bachelor of Science in Management and have spent the majority of my career in advertising. I am skilled at negotiating, developing and executing successful business plans. I know the community well and I am proud to call it my home. I would be honored to assist you with buying or selling your home.

I sell over 125 homes per year with my partner. I specialize in the Vero Beach area, but also sell homes on the barrier island as well as condos. Once I list a home, I always get wonderful results. I am a proud recipient of the Coldwell Banker Sterling Society Designation in 2018. I have 25 years in Sales, Marketing and Customer Service. I am a member of the Knights of Columbus and involved with St. Helen’s Church.

I volunteer for the Samaritan Soup Bowl which raises money to provide homes for the needy. I manage a food booth for St. Helen’s Harvest festival every year and volunteer as Santa Claus for the Senior Resource Center.

For the best in full-service Realtor call Ben Bryk at Coldwell Banker Paradise at 772-713-9455 or by email him at ben.bryk@coldwellbanker.com.

2018 Vero Beach 1st Quarter Real Estate

MARKET REPORT

Price Point

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

Condos Sold

Current Listings

Month’s Supply

Average Price

Under

2018

223

154

2.1

$167,633

104

106

3.1

$103,952

$250,000

2017

270

198

2.2

$161,175

109

109

3.0

$97,800

Change

-17.4%

-22.2%

-5.8%

+4.0%

-4.6%

-2.8%

+1.9%

+6.0%

$250,001 to

2018

158

295

5.6

$325,512

1

16

48.0

$275,000

$500,000

2017

115

280

7.3

$322,471

7

9

3.9

$342,643

Change

+37.4%

+5.4%

-23.3%

+1.0%

-85.7%

+77.8%

+1144.4%

-20.0%

Over

2018

18

106

17.7

$768,395

1

5

15.0

$672,500

$500,000

2017

25

113

13.6

$649,907

6

3

1.5

$603,000

Change

-28.0%

-6.2%

+30.3%

+18.0%

-83.3%

+66.7%

+900.0%

+12.0%

2018

399

555

4.2

$257,254

106

127

3.6

$110,929

2017

410

591

4.3

$236,217

122

121

3.0

$136,694

Change

-2.7%

-6.1%

-3.5%

+9.0%

-13.1%

+5.0%

+20.8%

-19.0%

Total

While the majority of housing on the Vero Beach mainland still sells below $250,000, this bastian of affordable housing is quickly slipping away. The number of sales in this lower market has declined by 17% due strictly to the limited inventory. With only a 9 week supply of inventory, the sales under $250,000 are being captured by buyers who act fast.

So the mixed message is, buyers in the lower end market need to act quickly and bid aggressively or risk missing out. In the mid and upper end markets, there is a selection for buyers, and while prices are slowly increasing, sellers need to look closely at the competition and price their homes appropriately.

At the same time the market for mid-priced and luxury real estate on the mainland has grown by 30% this year. In the $250,000 to $500,000 market sales were up 37%, but a lot of new construction activity in this price range has helped keep the market better stocked with inventory and held prices flat. Over $500,000 new construction and price increases has created a growing market, but inventory is now approaching an 18 month supply. In this mid-priced and luxury market, there is an increasing number of homes that expire without selling if they are priced too aggressively.

If you would like to find out the value of your home in today’s changing market, contact Ben Bryk, REALTOR® at 772-713-9455 or email him at Ben.Bryk@ColdwellBanker.com. With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise is the largest full service real estate company in the area. To see all of our listings go to: FLColdwellBanker.com