Jun 10 2010
2010 June Vero Beach FL Real Estate Market Update
Vero Beach Area Real Estate Market Update
On the Barrier Island house sales dropped slightly from the previous month and from May 2010. However, on the bright side 9 of the 22 house that sold were over $1,000,000 with two ocean front homes, which were in poor condition, selling for just over $1,000,000. There was one bank owned oceanfront home (estate) that sold for $8,800,000 on South A1A. Bargains like these are still available and will help hold the house sales on the island at a respectable level through the following normally slow months. At the other end of the sales, there was one home in central beach on Dahlia that sold for $260,000.
2010 June Vero Beach Island Home Sales Update
Condo sales on the barrier Island dropped over 50% which as expected is due to the “snow bird” exodus. However sales were level with May of 2009. The only highlights were one sale in the Carlton for $1,800,000 and a sale at The Gables for $775,000. At the low end, there were 6 sales under $200,000.
2010 June Vero Beach Island Condo Sales Update
May sales of houses in Indian River County increased slightly over the previous month but were down a little from May 2009. There was a substantial increase in the number of lower priced homes sold. On the mainland 44% of the houses sold were priced under $100,000. Over all 45% of the all of the houses sold on the mainland were foreclosures or short sales. Most of the lower priced homes were in the south county. At the high end there were 4 homes that sold between $525,000 and $699,000; two were in Grand Harbor, one in Indian River Club and one in Old Savannah.
2010 June Vero Beach County-wide Home Sales
Sales of condos in Indian River County dropped 40% from the previous month but were essentially the same as May 2009. This drop is mainly contributed to the exodus of the part time winter visitors. On the mainland Vista Royale again had the most sales. Five units sold in this subdivision for less than $50,000, which approaches prices of 15 to 20 years ago. At the high end there was again one sale at Royal Palm Point for $740,000. Ten out of the 32 sales on the mainland were foreclosure related.
2010 June Vero Beach County-wide Home Sales.
2010 June Vero Beach County-wide Condo Sales
There were 7 sales on N Hutchinson Island in May, an increase of 2 over the previous month and an increase of 3 over May 2009. As in nearby Indian River County, prices have declined substantially. The high sale was #1101 in Tiara with a garage for $375,000. There were 2 bank sales, # 502 in Ocean Harbour South for $125,000 and #201 in Aquanique for $148,000. Both were good buys. The unit in OHS was stripped to the walls and is now is being refurbished and is back on the market for close to $200,000. The Aquanique unit was in decent shape and sold for approximately the same price as it sold for when new in 1994.
2010 June N Hutchinson Island Sales