Vero Beach Island single family home sales took another hit with sales falling 36% from the previous month and 54% from July of 2009. 30% of the houses sold in July were over $1,000,000, which indicates that the high end Buyers are out there. However, the Buyers that would buy the mid-priced island houses are holding back because of lack of financing and the general economy. The lack of confidence in the economy is definitely hurting our island sales. Even the higher priced houses that did sell were purchased at very reasonable prices. An oceanfront home in Castaway Cove that sold for $2,500,000 had been on the market for over 21/2 years and sold for 62% of the original list price.
2010 August Vero Beach Island Home Sales