Happy 2019! Though the year is just beginning, our market has already begun to see some strong activity. Markets around the country are quickly changing, and this is also true here in Vero Beach. The simple truth is that markets can’t go up forever. After years of consistent growth following the recession a decade ago, things are finally evening out. In fact, only about 16% of all available listings have been selling from our local market each month recently. This has left us with approximately 2,700 active listings in Vero Beach today. One contributing factor to this slowdown is the high prices that have continued to deter buyers. The massive influx of new construction homes our local and national market saw in 2018 has also created some stark competition for resale listings.
That isn’t to say, however, that now is a bad time to buy or sell. Sellers who understand how to properly price and market their property can still be successful in our market, and strategic buyers can also do well. Understanding our current conditions is the key to getting a leg up on competing buyers and sellers in our market, and our team considers it a great privilege to be able to offer you this information. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.Markets can’t go up forever.