The Real Deal Miami

Foreclosures in Vero Beach are the best beach deal in the U.S.

June 28, 2012 03:00PM

Vero Beach

South Florida’s Vero Beach has the best bargains in the distressed property market, with homes selling for 45 percent less than a traditional sale, according to RealtyTrac data cited by the Palm Beach Post. With an average sales price for a Vero Beach foreclosure at approximately $93,188, compared to the average sales price of about $200,000 for a non-foreclosure, the town beat out Corpus Christi, Texas, Naples, Fla., Santa Barbara, Calif. and Charleston, S.C. There were 227 foreclosure sales in Vero Beach during the first quarter of 2012 — a 20 percent increase from the end of 2011.

“We think we’re the top beach spot to live in anyway,” said Jim O’Connor, Vero Beach city manager. “What I’m being told is the foreclosure market is really decreasing and that the number of available units is just not there like it was at the peak.” [Palm Beach Post]