Lawrence Yun, Chief Economist for The National Association of Realtors, recently published a report showing second quarter 2009 home sales were up across the county over second quarter 2008. I thought it would be interesting to see if the market in Vero Beach is tracking the national market. To do this I looked at sales/pendings for each quarter 2008 and 2009 for condos on the island, single family residences on the island and single family residences countywide. I also looked at the average selling price per quarter for each category to see if I could determine a shift in prices. The results are shown below:
What this means to you if you are a seller, your property days on market will likely decline. If you are a buyer, it looks like you missed the bottom and will face higher prices in the future. For more information or to search listings on Vero Beach Real Estate, please contact me.
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