Indian River County September Market Report

Hi everyone, this is the Vero Beach market report for September! This report compares this past month to September of last year.

On the barrier island, the total volume of closings was $25 million from 25 sales. Last year, total volume was about $50 million from 32 sales, at first it looks like a major pullback, but much of that difference is from one $15 million sale last September and this September didn’t have a closing of that caliber.

Starting in October the island has a 5 month inventory of available listings for sale. That is right in the middle of a buyers or sellers’ market, so I would describe it as a balanced market.

Many sellers ask about how long it takes listings to sell. Based off the past 6 months of data, the answer is 3 months on average per home.

However, to me a more useful point of data is how many listings close compared to how many expire or get withdrawn or cancelled. Over the past 6 months of data, 67% closing and 33% coming off the market one way or another.

On Vero Beach’s mainland, the median sale price was $364,000 which is up 17% from last year. The number of closings fell 11%.  Available supply of listings sits at a 3 month inventory to start October.  

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