Hank Wolff Presents Vero Beach Market report for June 2023

Hi everyone this is Vero Beach Market Report for June!

This report compares June of 2023 to June of 2022. On the barrier island the median sale price was $1.4 million which is up 10%. There were 66 closings which is up 22%. Island price data has shown nominal increases as well as decreases throughout this year, but to summarize, prices have been stable in a plateau phase.

On Vero Beach’s mainland the median sale price was $359,000 which is basically flat from last year. There were 179 closings which is down 18% from last year.

Pricing here is also remaining stable, but the number of closings is down significantly because owners who bought in previous years with lower interest rates often staying in the same home to avoid the higher interest rates in today’s market.

Thank you for watching this report, I will keep watching the market.