Vero Beach real estate appears to be rebounding

Vero Beach real estate appears to be rebounding

Vero Beach Real Estate, which like most other markets in the US has been hard hit with value declinations , appears from recent data to be on an upswing. This is tremendous news for not only Vero Beach homeowners, but also for people who are considering Vero Beach as an area in which they are considering purchasing real estate. Veero Beach is generally considered charming seaside community located on Florida's beautiful treasure coast, Vero Beach is homey, yet casually elegant, Vero Beach and Indian River County attracts visitors and residents because of the cultural wealth and inherent natural beauty of the area. In fact, Vero Beach was rated the "Best Small Town in Florida & 12th in the Nation" and was named one of "The 100 Best Art Towns in America."

Premier Estate Properties is a luxury vero beach real estate firm who specializes in properties over 1 million dollars. They can be found at www.premierestateproperties.com. Recent vero beach real estate data can be found below:

Demand (number of homes sold):

2010 through April 30: 557 in the county and 74 on the barrier island

2011 through April 30: 656 in the county and 123 on the barrier island

Percent change: Up 18 percent in the county and up 66 percent on the barrier island

Sales year-to-date on the barrier island increased a whopping 66 percent as compared to a more modest increase of 18 percent county-wide. These numbers indicate that the sales activity may lead to a more stabilized market in 2012.

Supply (number of homes listed):

April 2010: 2,882 in the county and 748 on the barrier island

April 2011: 2,149 in the county and 627 on the barrier island

Percent change: A 25% drop in supply county-wide and a 16% drop in supply on the barrier island.

Supply levels or the number of homes listed for sale dropped dramatically in Indian River County and on the barrier island. This is an indication of strong improvement in both places.

Months supply of inventory (year-to-date average):

April 2010 Average: 27 month supply in the county and 40 month supply on the barrier island

April 2011 Average: 13 month supply in the county and 20 month supply on the barrier island

Percent change: 52% decrease in month supply of inventory in the county and a 50% decrease in month supply of inventory on the barrier island.

Average price per square foot

2010: $131 in the county and $278 on the barrier island

2011: $153 in the county and $297 on the barrier island

Percent change: Average price per square foot is up 17% in the county and 7% on the barrier island.

Posted by Sullygromo on Thursday June 16 2011, 1:40 AM EST. All trademarks acknowledged. Filed under Uncategorized. Comments and Trackbacks closed. Follow responses: RSS 2.0