2022 Annual Market Report. Vero Beach

Indian River County, Vero Beach 2022 Market Report

This annual market report will review sales data from 2022, compared to 2021.

On the barrier island for single family homes, the median sale price was $1.3 million, which is up 36% from last year. For Condos, the median price was $650,000 which is up 30%. But the total number of closings fell by about 50%.

On Vero Beach’s mainland and Sebastian, the median sale price was $300,000 which is up 20% from year prior. Condos had a similar trend of $190,000 median sale price, up 28%.

As we look to make projections for 2023, inventory will be the best indicator. The barrier island has 216 active listings, which is an 8–9-month inventory. Generally anything over 6 months is widely considered a buyers’ market.  

On the mainland there are 732 active listings amounting to a 3-4 month inventory, which is still a sellers’ market. It seems many owners who bought with lower interest rates are staying in their homes to keep their rates.