As we move deeper into fall, several key trends define the Vero Beach real estate market. Here’s what you need to know:

1. Inventory Remains Low

Inventory levels have held steady since 2021, hovering around 150-160 homes. Likewise, the average days on market remains unchanged at about 161 days. This “new normal” is a significant shift from pre-COVID levels, where around 300 homes would sit on the market for an average of 300 days. With fewer listings and persistent Buyer hesitancy, homes are staying on the market longer, and Sellers are holding off on making substantial price cuts.

2. Price Reductions Are Rare

Compared to the national average, where 35-38% of listings see price cuts, only 23% of Vero Beach Sellers are reducing their asking prices. This indicates strong Seller confidence despite fewer transactions. If you’re tracking Buyer sentiment, watch for the number of pending sales as a signal of renewed Buyer activity.

3. Is Vero Beach Experiencing the “Great Stay”?

With rates high and relocation costs challenging, many homeowners are opting to stay put. However, as we enter the robust Q1 selling season, we may see an uptick in listings, especially as Vero Beach attracts winter Buyers looking to escape colder climates.

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