August-2024 Home Sales Trends in Vero Beach, Florida
The real estate market is currently experiencing a healthy balance between supply and demand, as indicated by the Months Supply of Inventory at 4.83. This means that it would take approximately 4.83 months to sell all the available homes in the market if no new listings were added.
The 12-Month Change in Months of Inventory is showing a positive trend, with a significant increase of 17.52% compared to the previous year. This could indicate a slight increase in inventory levels, providing more options for buyers in the market.
The Median Days Homes are On the Market is 59, which suggests that homes are selling relatively quickly. This could be attributed to the competitive pricing and overall desirability of properties in the market.
The List to Sold Price Percentage is at a strong 95.7%, indicating that sellers are able to negotiate prices close to their listing price. This could be a positive sign for sellers looking to maximize their returns on the sale of their property.
Finally, the Median Sold Price is at $398,250, showcasing the current average price of homes being sold in the market. This figure provides valuable insight for both buyers and sellers in understanding the overall pricing trends in the real estate market.
Overall, these metrics paint a picture of a balanced and competitive real estate market, offering opportunities for both buyers and sellers to make informed decisions. Buyers can benefit from a healthy inventory of homes, while sellers can take advantage of strong pricing and quick turnaround times on their listings.
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By
Brian Rice
Brian is the owner and managing Broker at Real Estate Kingz LLC, a Florida licensed Real Estate Brokerage. You can contact Brian at 866-735-4649 (866-Re-Kingz) or visit BrianRiceRealtor.com