May 2024 Real Estate Update - Vero Beach

Vero Beach Community Newsletter - May 2024 Edition

Hello Vero Beach Residents and Visitors!
As we step into the delightful month of May, we’re thrilled to bring you a fresh compilation of engaging local events, updated real estate market insights, and additional segments to enrich our community’s lifestyle. Let’s explore what’s happening around Vero Beach this May 2024!
Local Events to Enjoy

• Vero Beach Air Show: May 4-5, 2024 | 10am-4pm | Vero Beach Regional Airport

  • Enjoy aerial performances, static displays, and food vendors
    

• Vero Beach Wine and Film Festival: May 10-12, 2024 | 6pm-10pm | Vero Beach Museum of Art

  • Wine tastings, film screenings, and live music
    

• Indian River County Fair: May 16-19, 2024 | 10am-10pm | Indian River County Fairgrounds

  • Live music, food, rides, and animal exhibits
    

• Spring Super Saturday Art Party: May 11, 2024 | 10am-4pm | Wildwood Antique Mall of Vero Beach

  • Explore local artistry and creativity
    

• Spring Paint Party: May 21, 2024 | 6pm-8pm | American Icon Brewery

  • Unwind and create with a fun evening of painting
    

Vero Beach Real Estate Market Insights
Stay tuned for the latest trends as we compile updated information on the Vero Beach real estate market for May 2024.
Community Spotlight: Supporting Local Businesses
This month, let’s rally behind “The Tasting Room” and “The Beachcomber,” two local favorites offering exceptional dining experiences. Remember, supporting local businesses helps sustain the essence of our community.
Health & Wellness: Outdoor Adventures
Embrace the springtime by engaging in outdoor activities. From kayaking along the Indian River Lagoon to participating in group fitness classes at “Central Fitness Park,” there’s no shortage of ways to stay active and enjoy the natural beauty Vero Beach has to offer.
Educational Corner: Vero Beach Libraries
Our libraries are bustling with activities this May. From book clubs focusing on the latest bestsellers to creative writing workshops for budding authors, there’s something for everyone. Check out the “Vero Beach Public Library” for a full schedule of events.
May in Vero Beach is filled with opportunities to explore, connect, and grow. Whether you’re experiencing local events, diving into the real estate market, supporting local businesses, enjoying outdoor activities, or expanding your knowledge, there’s something for everyone in our vibrant community. Let’s make May a month to remember!
Vero Beach Real Estate Market Update for May 2024
The Vero Beach real estate landscape continues to evolve, offering unique opportunities for buyers, sellers, and investors alike. Here’s a comprehensive overview of the current market trends as we step into May 2024.
Market Overview

• Median Listing Home Price: The median listing price for homes in Vero Beach stood at $475,000, with a noticeable year-over-year increase of 9.5%.
  
• Median Sold Home Price: The median sold home price was slightly lower at $410,000, indicating a competitive environment where buyers may find opportunities to negotiate.
  
• Sale-to-List Price Ratio: Homes in Vero Beach are selling close to their asking price, with a sale-to-list price ratio of 97.21%.
  

Market Dynamics

• Market Competitiveness: The Vero Beach housing market is not considered very competitive, with homes receiving an average of 1 offer and selling around 68 days on the market.
  
• Migration Trends: There’s a notable migration trend, with 76% of homebuyers looking to stay within the metropolitan area.
  

Real Estate Highlights

• Price Per Square Foot: The median price per square foot in Vero Beach has been reported at $265.
  
• Neighborhood Insights: Some of the most sought-after neighborhoods include Vero Beach Estates, Royal Park, and Veromar, each offering unique living experiences and property values.
  

What This Means for You

• For Buyers: The current market offers a balanced mix of opportunities and challenges. While prices are trending upwards, the sale-to-list price ratio suggests room for negotiation.
  
• For Sellers: The increasing median listing price indicates a favorable market for sellers, but achieving the best possible sale requires strategic pricing and marketing.
  

Looking Ahead
As we navigate through 2024, the Vero Beach real estate market exhibits a dynamic landscape influenced by migration trends, neighborhood developments, and evolving buyer and seller expectations. Whether you’re planning to buy, sell, or invest, staying informed on the latest market trends will be key to making educated decisions in this vibrant coastal community.
Warm regards,

Kim Small Keller Williams - 772 480 4660