House sales on the island in Vero Beach FL were still higher than usual for this time of year. Sales decreased 42% from the previous month but were up 34% over June 2010. Year-to-date single family home sales on the island have increased 63% over last year. At the low end there were 2 homes that sold for under $300,000 in central beach, including a small 2/2 on Dahlia for $215,000. At the high end there was a reduction in sales with only 2 homes selling for over $1 million while last month there were 6 homes that sold for over $1 million. The high sales were a 5500+ sq ft oceanfront home inJohnsIsland that sold for $4.6 million and a 4500+ sq ft riverfront home in Castaway Cove that went for $1,635,000. Many of these high end homes are purchased by part-time residents who have left the area until next season. Island house inventory went down 5% with 513 homes currently for sale, a 15.9 month supply.
