The median price of houses in the Vero Beach Indian River County area increased 25% from $132,000 in November to $142,000 in December. This was approximately the same as December of 2010. We are now a little above average median price over the 3 years. This is good, indicating that prices are stabilizing. There were only 46 houses, 30%, that sold for under $100,000. During the 3rd Quarter of this year approximately 42% of the houses sold were under $100,000. This is the first time that the median has gone up for 3 consecutive months since 2005.
Remember that the median price change does not necessarily mean that the value of an individual house has increased or decreased. The median also influenced by the number of high or low priced homes sold in a certain period. We have also noticed that more houses being sold are smaller in size than they were 4 or 5 years ago. This will also affect the median price.
