Indian River County Rental Homes

VERO BEACH, Fla. - Aug. 9, 2022 - PRLog -- Per Jillian Arce member of Team Paradise Property Management "Best Vero Beach Property Management Co."

The Indian River County rental home forecast is currently a bright one, given several factors that have come into play. As more and more people relocate from other areas of the country, like the west coast, the northeast, and even the midwest, the Sunshine State should see significant population growth over the next years.

This greatly benefits the rental market because new construction isn't back in full swing. Add to it rising interest rates and inflationary pressures, and more of those moving into the state will opt to rent rather than buy. This is good news for property investors in Indian River County and all over the peninsula.

Right now, the real estate market in Indian River County is producing a strange blend of results. For instance, the median listing price stands at $385,000, with a median listing price per square foot of $233, and a median selling price of $389,500. So, homes are selling for more than their asking price. But, this doesn't necessarily translate into a plus on the sale-to-list price ratio. That figure stands at 97.75%, meaning of all the homes sold, the vast majority are selling for 2.25% below the asking price.

What's more, the market is out of balance between buyers and sellers. Currently, Indian River County, FL is a buyer's market. This means there is a lot more available inventory than active buyers looking to purchase properties. However, the median days on the market remain short, at just 45 days, or about two weeks shy of two months.

What's most concerning is the downward pressure of the falling value of the dollar, which is marked by the worst inflationary period in approximately four decades. This, along with rising interest rates, the lack of new construction, and the reintroduction of distressed properties - foreclosures and short sales - will all hurt the market but could very well benefit the rental sector

For more information about renting a home or selling your home, please contact Jillian Arce and her team at       http://teamparadisepropertymanagement.com/