Indian River County Florida Market Forecast

The Indian River County residential real estate market forecast has some good news in store for buyers and sellers alike.
By: Coldwell Banker Paradise
 
VERO BEACH, Fla. - Feb. 10, 2020 - PRLog -- Per Brendan Maughan member of Team Paradise Property Management "Best Vero Beach Property Management" Co. Currently, the Indian River County residential real estate market favors sellers over buyers and is considered a sellers' market at this time. However, estimates for the next twelve months predict the market will slow and this will help to bring down home prices, helping out buyers. It's also good news for sellers, as the market will avoid overheating and stalling, or worse, entering into a bubble. Read on to learn more about the Indian River County residential real estate market for 2020.

The Indian River County residential real estate market is a very active one, although current trends display a curious mixture of figures. For instance, even though it is considered a seller's market, homes listed for sale stay available for a longer average. Of time than in similar counties in the Sunshine State. Another oddity is the difference between the median list or asking price and the median sales price.

Located on the east coast of the Florida peninsula bordering the Atlantic Ocean, Indian River County has a population of nearly a hundred and forty thousand residents. Although relatively small, it is ranked the 7th richest county per capita in the Sunshine State, and the 87th most wealthy in the country. It's located on what's known as the Treasure Coast, so named due to the many shipwrecks in the waters, carrying valuable freight, such as precious metals.

Currently, the median home value in Indian River County stands at $228,500, with residential values have increased by 0.3 percent over the course of the past year. Real estate industry experts and economists alike predict that home values in Indian River County will continue to rise over the course of the next 12 months by a larger margin of 1 percent.

At this time, the median list price for residential properties in Indian River County stands at $299,900. Meanwhile, the median sales price is $226,809. Presently, the average time a house stays on the market is 111 days, constituting a longer average DOM figure than similar locations also in a seller's market.

Right now, the number of houses with negative equity in Indian River County stands at 5.1 percent, compared to the national average of 8.6 percent. Meanwhile, just 0.8 percent of homeowners in the area are delinquent in their mortgages.

For more information about renting a home or selling your home, please contact Brendan Maughan and his team at       http://teamparadisepropertymanagement.com

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Tags:Vero Beach Property Management
Industry:Real Estate
Location:Vero Beach - Florida - United States
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