What Can We Expect in the Vero Beach Real Estate Market for 2014?

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Welcome back and Happy New Year! You may be wondering what 2014 has in store for the real estate market, but I first wanted to recap what happened in 2013.

Last year we saw some incredible things. There were 3,411 transactions in Vero Beach which represents a 15% increase from the previous year. The average home sold for $243,000 and was on the market for 127 days.

Another great thing about 2013 is sellers were getting on average about 95% of their asking price. That means sellers and their agents were properly evaluating the market and pricing their home to sell.

So what can we expect from 2014? We predict a slight increase in home values and an increase in the number of sales.

We also expect interest rates to increase above 5% and that means fewer buyers and more days on the market. Now is the time to buy or sell. Give me a call and let's talk about your situation and what's best for you!