Vero Beach Island Market Report 2014

2014 Vero Beach Island Third Quarter Real Estate

MARKET REPORT

1005 Isle Verde Square, River Club NEW ST. CROIX MODEL • VERO BEACH Offered at $899,000

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 Island Third Quarter Real Estate Report As trusted real estate advisors in our area, we are pleased to present our Third Quarter Real Estate Report.

We have identified key indicators that impact home values and use this information to forecast local market trends that help our clients make informed decisions about buying and selling real estate.

Single Family Homes – During the first three quarters of this year, the number of home sales have dropped slightly as a result of fewer properties available under $500,000. Housing inventory levels are down sharply across all price points. Price appreciation has been significant so far this year and further appreciation is expected during the first half of 2015.

Condominiums – Condominium sales were another bright spot with sales up dramatically and a 30% drop in the number of units available for sale. If inventory levels continue to decline, appreciation is likely to continue in the first half of 2015.

Call us today for detailed information about your home’s value in today’s market. Contact us directly at our Vero Beach US 1 office 772-778-2029, our 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 THIRD QUARTER 2014 COMPARISON TO THIRD QUARTER 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

139

83

5.4

$357,314

2013

160

98

6

$360,052

Change

-13%

-15%

-10%

-1%

2014

123

86

6.3

$696,841

2013

117

118

9.1

$689,854

Change

+5%

-27%

-31%

+1%

2014

73

132

16.3

$2,187,033

2013

69

163

21

$1,718,630

Change

+6%

-19%

-22.3%

+27%

2014

335

301

8.1

$880,691

2013

346

379

10

$742,505

Change

-3%

-21%

-19%

+19%

VERO BEACH ISLAND CONDOS THIRD QUARTER 2014 COMPARISON TO THIRD QUARTER 2013 Price Point

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2014

200

103

4.6

$268,114

2013

185

136

7

$242,010

Change

+8%

-24%

-34%

+11%

2014

38

27

6.4

$706,546

2013

25

51

18

$658,244

Change

+52%

-47%

-64%

+7%

2014

7

19

24.4

$1,612,857

2013

5

26

47

$1,335,000

Change

+40%

-27%

-48%

+21%

2014

245

149

5.5

$374,537

2013

215

212

9

$315,828

Change

+14%

-30%

-39%

+19%

Under $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

EXCLUSIVELY PRESENTING:

$895,000

$480,000

$450,000

2035 Regatta Drive

663 Eugenia Road

2170 Seminole Shores Lane

$425,000

$350,000

$299,000

4141 Ocean Drive

4450 N. Highway A1A #506

1370 White Heron Lane

THE MOORINGS • VERO BEACH

BAY ISLAND CLUB • VERO BEACH

VEROMAR • VERO BEACH

OCEAN CLUB 3 • VERO BEACH

SEMINOLE SHORES • VERO BEACH

DUNES LOT • 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:

Asking Price $995,000

JOHNS ISLAND • VERO BEACH

SOLD for $995,000 Asking Price $550,000

SHORELANDS • VERO BEACH

210 Coconut Palm Road

Asking Price $500,000

DUNES • VERO BEACH

SOLD for $460,000

1321 Sea Hawk Lane

C

1561 Shorelands Drive

Asking Price $439,000

SOLD for $420,000 Asking Price $299,999

BEACHWALK • VERO BEACH

940 Turtle Cove Lane #305

4600 Highway A1A

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 772.231.4880

SEBASTIAN 772.589.7777

SOLD for $280,000

CALEDON SHORES • VERO BEACH

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.

772.778.2029

SOLD for $500,000

N. HUTCHINSON 772.464.7007