My Blog

: Are the economic scales balanced between home buyers and sellers?

1/18/2014

Are the economic scales balanced between buyers and sellers of single family homes, priced over $1,000,000, on the Vero Beach Island?

 

You be the judge:

 

Single family Island Homes in Vero Beach

(Priced over $1,000,000)

(6 Month Trailing Averages)

 

12/31/12

12/31/13

 Change

 # Listed Single Family Homes

206

175

-16%

 # New Listings/Sold Listings

3.2

2.3

-29%

 Unsold Homes Month Supply

40.3

27.6

-32%

Result:

 

 

 

 Median Price Sold (000s)

$1,749

1,587

-10%

                                `                               

Our Summary:                 

While single family home prices may not decrease by another 10% in 2014, they are likely to remain capped and stressed until the Unsold Homes are worked into better balance with the demand.  Many of these homes remain great buys: priced well below their replacement cost, new homes are being built at higher costs, and low mortgage rate remain readily available.  For buyers continued fence setting may prove to be costly!

For sellers, the general market continues to improve.  But like the stock market, the questions a seller must answer: is it better to sell into an improving market and perhaps beat a herd driven exit, or can a sale at the exact top of the market be executed, and is the potential price gain larger than the carry cost, lost opportunities, and mental stress?

Other Information:

If other information is required or needed call glen brovont at 772-538-4145 or email gbrovont@sorensenrealestate.com

As a buyer for a single family home on the Vero Beach Island do great opportunities remain?

1/9/2014

You be the judge:

                                                           Single family Island Homes in Vero Beach

                                                                          (Listed at under $1,000,000)

                                                                            (6 Month Trailing Averages) 

                                                              12/31/2012     12/31/2013    % Change 

 

                Listed Single Family Homes            409                       277             -32%

                New Listings/Sold Listings               2.1                        1.6             -24%

                Unsold Homes Month Supply          18.4                      10.8             -40%

                Result:

                Median Sold Price (000s)           $415                   $455           +10%                                    

Our Summary:                               

While single family home prices may not increase by another 10% in 2014, they are likely to continue the upward pace; many are still priced below replacement cost, competitive bids are already in the market on the nicer well priced homes, and low mortgage rate remain readily available.  For buyers continued fence setting may prove to be costly!

For sellers, the general market continues to improve.  But like the stock market, the questions sellers must answer:  is it better to sell into an improving market and perhaps beat the herd driven exit?  Or can a sale at the exact top of the market be executed?  For sellers is the potential price gain larger than the carry costs, lost opportonities, & mental stress? 

Other Information:

                If other information is required or needed call glen brovont at 772-538-4145 or email gbrovont@sorensenrealestate.com

 

Is 2014 the year to buy or sell a Single Family Island home in Vero Beach, Florida?

12/19/2013

 

  • Market Summary of Total Single Family  Island homes: Comparing 11/30/2013 against 11/30/2012 (Based on 6 month Trailing Averages*):

o   Listed For Sale Single Family Homes were down 24% against 11/30/12,

o   Listed Unsold For Sale Single Homes represented  only a 11.9 months of average Monthly Sold Homes versus 19.3 months  on 11/30/12,

o   Monthly New Listings as a ratio of Monthly Sold Homes were down to 1.48 down  from  2.0, 11/30/12,

  •   Monthly Sold Homes were up by 25%, but Monthly New Listings were down ,

o   Over the 12 months ended 11/30/13, the Median Sold Price was up 12% from $477,000 to $535,000.

  •          Based on the above facts, Thoughts for 2014:

o   If you tried, unsuccessfully,  to sell a Single Family home during the past couple of years, it may be time to   re-list the home,

o   Other than perhaps the very expensive homes  if you are attempting to buy a Single Family home,  to be  successful anticipate offering nearly the home’s listed price,

o   More detailed data is available by calling glen brovont at 772-538-4145 or emailing: gpbrovont@gmail.com.                

 

 

* used to smooth- out distortions caused by small monthly numbers.  

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