Choosing a real estate agent in Vero Beach is a lot like shopping for the new home of your dreams – you have to find that right blend of personality and professional experience to get the fit that’s right for you. And just like shopping for a new house, finding this perfect fit isn’t as easy as flipping open the phone book and choosing the agent with the biggest ad or best picture.
Good news for Inventory of available homes for sale in the greater Vero Beach area Indian River County. Inventory declined by 7% this month, which is an encouraging sign. There is approximately an 18 month supply of homes for sale at this time. The number of total sales was up over the previous month, so we are slowly gaining ground from the 18 month supply now down from a 2 year supply high mark in 2008.
Vero Beach FL Median real estate prices are up a couple % over last month and about the same as August of 2009—pretty much the same as the average for the last 18 months. 61 sales (37%) of the homes that sold were in foreclosure or bank owned. This is down over the previous month. Also, only 34% of the homes sold in August were financed; the balance were cash sales. This would indicate that there are still investors buying property and/or buyers who had sold their previous home.
August was a good month for Vero Beach Island Home Sales with approximately 35% more sales than July but about the same as August 2009. And there were some whoppers that sold. There were 7 single family homes sold for over $1,200,000, and the rest sold for less than $500,000. The top sale was on the ocean in Ocean Pearl at $5,300,000. There were 2 water front sales in the Moorings for $2.4 and $1.2 million and a nice oceanfront home in Anglers Cove for $3,000,000. The least expensive sale on the island was on Frangipani Drive at the north end of the island off Highway 512 for $160,000.
Vero Beach Island Condo Sales numbers dropped substantially from the previous month but were about the same as August for the last couple of years. Sale prices ranged from around $200,000 in Silver Palm Villas and Riverwalk to 2 in the Gables that sold for around $500,000. There was also a sale in Southwinds at $490,000.
Can’t complain this month about home sales in the greater Vero Beach FL area! Both sales and median prices of houses sold countywide were up a little up over the previous month from 132 to 136 home sales–about equal to August 2009. On the mainland, where most of the sales were located, there were fewer very low priced and very high priced houses sold. 37% of the houses sold were under $100,000 and less than 2% were over $500,000.
The lowest priced sales were again in the north and south areas of the county. The highest sale was a canal front home in Riverpoint for $710,000.
Condo sales county wide dropped 25% from the previous month to a level which is consistent with August sales in 2009 but substantially higher than 2006, 2007, and 2008.
Condo sales on the mainland consisted of 17 units that sold for under $100,000 and only four sales over $100,000. At the low end there were sales at The Pines of Vero and the manufactured homes at Villas of Indian River under $15,000. The mainland high sales were at Sebastian Village Condos for $214,000 and The Inlet at Sebastian for $150,000.
North Hutchinson Island FL: Six condos, 1 canal front house and 1 townhouse sold in August. Condo sales ranged from $160,000 for a 1st floor unit in Bryn Mawr to $550,000 for the top floor in Altamira and $504,925 for the 2nd floor in Altamira. The house in Queens Cove, which was on a 50 ft waterfront lot, sold for $307,000 as a short sale. A 1 bedroom town home in the Galleons sold for $57,500.
During the next several months, Florida schools will be working through the next steps in qualifying for national “Race to the Top” funding that could bring $700 million for education. Half will go to statewide reform projects and the other half to local school districts who agree to the participate in the program guidelines. The potential for Treasure Coast schools is anticipated at near $8 million. Requirements to qualify for these funds include end of course tests that measure student progress and half of a teacher’s evaluation based on student progress. Indian River (Vero Beach, Charter, and Sebastian) and Martin County schools are still working through their plans while St Lucie County, including teacher union ratification, has already accepted the “Race to the Top” program requirements.