Hank Wolff Presents Vero Beach November Market Report

This is your newest monthly market report for Vero Beach! This report compares November of this year to November of last year.

On the barrier island, the number of closings increased from 21 to 31. This in turn caused total volume of sales to increase from $23 million to $48 million. This is a continuation of an uptick in sales overall this fall season. This could be an early indicator of a very robust season. To start December the island has an 8 month supply of listings.

On Vero Beach’s mainland, the median sale price was $353,000 where it has remained consistently throughout the year. The total number of closings decreased by 12%. This pullback of activity has is due to higher interest rates which are projected to remain at the 8% level in the near-term.

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