How's the market? The ever-popular question! :)
? Michael Kanehl
Associate Broker @ eXp Realty | Focus on Data-Driven Approach to Get You the Best Price at the Best Terms | Vero Beach & Hutchinson Island Condo & Townhome Market.
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2 months into the new year - let's take a look at some Vero Beach Real Estate numbers through February of 2019.
The average sold price for properties is right at around $310k for February.
Every year the February number is pretty much the lowest throughout the year - and this year the government shutdown and its resulting uncertainty didn’t help. There are also a couple of other factors, like the higher percentage of relatively inexpensive condo sales etc.
However, we really have 4 distinct different market segments. It makes more sense to look at the type of property - i.e. condo or detached home, as well as the location.
First off, the beachside ( 32963 zip) - has always had its own market dynamics. For detached homes, the market has softened a bit, especially in the higher price range.
But if the March numbers so far are any indication, it’s on the upswing again.
Beachside condos, on the other hand, still show a strong price upwards trend.
The prices for the Mainland properties are slightly lower in February as well - but, just like the Beachside - the numbers for March so far are showing definitely an uptrend again.
Because of our seasonal character, you'll always have some fluctuation during the year - but the overall trend seems to be a steady 5-7% yearly increase in valuations over the last 5 yrs in general.