1st Quarter Hutchinson Island Market Report_Thomas Langan

Hutchinson Island

RECENTLY SOLD Thomas Langan, REALTOR® • 631-707-5431

SOLD $995,000

4160 N Hwy A1a #1007A

SOLD $410,000

3010 Windward Drive

SOLD $340,000

5061 N Hwy A1a #801

SOLD $535,000 1671 Binney Drive

SOLD $380,000

1920 Rio Vista Drive

SOLD $325,000

5047 N Hwy A1a #1402

SOLD $429,000

2400 S Ocean Drive #4174

SOLD $369,000

4100 Hwy A1a #132

SOLD $317,000

5047 N Hwy A1a #1101

Homes are selling Fast!

Call Thomas Langan at

631-707-5431 to find out what SOLD $315,000

1120 Granada Street

SOLD $285,000

219 River Walk #10

your home is worth! www.FLColdwellBanker.com

HUTCHINSON ISLAND SPECIALIST THOMAS LANGAN, REALTOR® After graduating from college, I pursued a career in Business and Sales with IBM in New York City.

After 10 years I moved on to work with a mortgage broker selling mortgages offered by a cluster of banks. Finally I worked for Xerox Corporation as a Salesman and Manager. During those years I closed some multi-million dollar expenditures by Fortune 100 companies, and really sharpened my skills as a top salesman and accomplished businessman.

Some years ago, when there were massive layoffs at IBM, I was affected by that, but my family was thrilled, because we were able to move to Florida and take up full time residency in our condo at Ocean Village. Now I live there year round on South Hutchinson Island with my son TJ, when he is home from college.

2018 Hutchinson Island 1st Quarter Real Estate Price Point

Year

Homes Sold

Under

2018

$250,000

2017

MARKET REPORT Current Listings

Month’s Supply

Average Price

Condos Sold

Current Listings

Month’s Supply

Average Price

4

2

1.5

$172,275

39

68

5.2

$192,947

4

0.0

0.0

$229,250

44

78

5.3

$178,177

Change

0.0%

-

-

-25.0%

-11.4%

-12.8%

-1.6%

+8.0%

$250,001 to

2018

9

19

6.3

$311,222

27

101

11.2

$315,700

$500,000

2017

12

16

4.0

$346,590

25

70

8.4

$310,148

Change

-25.0%

+18.8%

+58.3%

-10.0%

+8.0%

+44.3

+33.6%

+2.0%

$500,001 to

2018

4

24

18.0

$635,000

5

42

25.2

$756,800

$1,000,000

2017

3

23

23.0

$700,833

0

22

-

-

Change

+33.3%

+4.3%

-21.7%

-9.0%

-

+90.9%

-

-

Over

2018

2

8

12.0

$2,972,500

0

0

-

-

$1,000,000

2017

1

9

27.0

$1,690,000

0

3

-

-

Change

+100.0%

-11.1%

-55.6%

+76.0%

-

-100%

-

-

2018

19

53

8.4

$630,268

71

211

8.9

$279,336

2017

20

48

7.2

$443,429

69

173

7.5

$225,993

Change

-5..0%

+10.4%

+16.2%

+42.0%

-5.0%

+10.4%

+16.2%

+42.0%

Total

The Hutchinson Island condominium market is well balanced

and should sustain steady moderate price increases, while buyers enjoy a sufficient supply of inventory from which to choose.

The biggest news in Hutchinson Island housing is the growth of the luxury home market. Homes $500,000 to over $1 million, once unheard of, are now steadily selling and inventory is growing to keep pace with demand. Keep an eye on this portion of the market to continue to expand.

Supply in the under $250,000 market is at 5.3 months and should continue at this level. In the $250,000 to $500,000 market, supply has grown to approximately 11 months and price increases in the 2% range or lower will probably continue.

Give me a call so that I can meet with you and help you determine the value of your property in today’s changing real estate market. You might be surprised at how much it’s gone up in value! Tom Langan, REALTOR® 631-707-5431.

www.FLColdwellBanker.com • Thomas Langan, REALTOR® 631-707-5431