Metropolitan Statistical Area (MSA):
Sebastian-Vero Beach, FL is a Metropolitan Statistical Area (MSA) comprising counties including .
There are many factors influencing real estate trends in the Sebastian-Vero Beach, FL metropolitan statistical area (MSA). The following is a brief overview of some of the most important ones.
The Sebastian-Vero Beach MSA is located on the Treasure Coast of Florida, about an hour's drive from Orlando and two hours from Miami. The area is known for its beautiful beaches, golf courses, and fishing. It is also a popular retirement destination.
The Sebastian-Vero Beach MSA has a population of about 145,000. The median age is 52 years old, and the median household income is $50,000. The homeownership rate is 75%.
The housing market in the Sebastian-Vero Beach MSA has been strong in recent years. Home prices have risen steadily, and there has been significant new construction activity. In 2018, the median home price in the MSA was $257,000, up 8% from 2017. The average price per square foot was $163, up 7% from 2017.
There are several factors driving the strong housing market in the Sebastian-Vero Beach MSA. One is population growth. The population of Florida as a whole has been growing rapidly in recent years due to retirees moving to the state and people relocating from other parts of the country seeking warmer weather and lower taxes. This increased demand for housing has helped push prices upward. Another factor driving prices higher is limited supply; there is not a lot of land available for new development in Florida, which further constrains supply and puts upward pressure on prices