2016 Hutchinson Island 1st Quarter Market Report

2016 2016 Hutchinson Hutchinson Island Island 1st 1st Quarter Quarter Real Real Estate Estate

MARKET REPORT

N. HUTCHINSON 4007 N. Hwy. A1A 772.464.7007

S. HUTCHINSON 221 Ocean Drive 772.461.1324

OCEAN VILLAGE

100 Mainsail Driave 772.489-6100

Hutchinson Island Comparison 2016 to 2015 Price Determines Sales for Island Properties: Good News for Buyers and Savvy Sellers Average prices ticked upward for single family homes, leveled out for condominiums while sales lagged for both in the first quarter of 2016 reports Coldwell Banker Paradise in their 2016 First Quarter Market Report. In addition, inventory levels at the end of the period are high for both single family homes and condominiums.

“The key issue for Island properties is price, buyers visiting Hutchinson Island are looking for value and not rushing into deals,” stated Coldwell Banker Paradise’s CoOwner and Broker Steven Schlitt. “It is more important than ever for sellers to work with an experienced agent and look at the local trends to price their home to sell.”

“Now is the perfect time for homeowners to establish a relationship with a seasoned real estate agent and local market expert. Our experienced agents can help them navigate these challenging real estate decisions that need to be made in 2016,” said Schlitt. As for both single family homes and condos on Hutchinson Island, with double digit increases in single family homes slowly but steadily increasing, it is fair to say that owners are continuing to regain equity. Many homeowners have no idea how much their property has actually increased in value over recent years and would be well served to seek out the professional counsel of a savvy real estate agent.

Condominiums are experiencing a price stabilization, Don’t be tricked into thinking it is quicker and with a slight overall decrease of -4.9% triggered by easier to go online to find out the value of your a slump in number of sales at the high end. Single biggest investment, as studies have shown online family home prices are up almost +30%. “Part of the sources can be off by as much as 21%. reason why we may be seeing the sudden We have neighborhood real estate increase in single family home prices as “Buyers are feeling more specialists on call to serve you, who well as inventory is because of new home confident in the market, and no take into account all of the valuable construction,” said Schlitt. “New home inventory in the price range of $250,001 to longer rushing into purchases.” qualities to price your home to sell.

Our agents make sure that your home $500,000 is up +44%.” is priced to sell quickly and for fair “As home values have increased along Hutchinson market value! We know that prices vary widely Island, we are seeing that buyers are feeling more on the Treasure Coast and it takes someone with confident in the market, and no longer rushing into experience to look at the sales history for an area, purchases,” said Sharon Murbarger, Sales Manager for the know the state of the market and interpret all of that North Hutchinson Island Office. She added, “What an for choosy buyers. You can reach South Hutchinson excellent opportunity for wise sellers who have worked Island at 772-461-1324, Ocean Village at 772-489with a real estate agent to determine the perfect price for 6100 and on North Hutchinson Island you can reach their Hutchinson Island property to put their home on us at 772-464-7007. the market and watch the offers come in!”

W W W. F L C O L D W E L L B A N K E R . C O M

SINGLE FAMILY HOMES Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2016

5

2

1.2

$214,700

2015

9

9

3.0

$191,800

Change

-44.4%

-77.8%

-60.0%

+11.9%

2016

4

26

19.5

$394,375

2015

4

18

13.5

$358,000

Change

0.0%

+44.4%

+44.4%

+10.2%

2016

3

25

25

$706,667

2015

3

17

17.0

$589,167

Change

0.0%

+47.1%

+47.1%

+19.9%

2016

0

17

0

0

2015

0

8

0.0

0

Change

NA

+112.5%

NA

NA

2016

12

70

17.5

397,583

2015

16

52

9.8

$307,856

Change

-25.0%

+34.6%

+78.6%

+29.1%

CONDOS

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2016

30

89

8.9

$169,473

2015

57

104

5.5

$167,060

Change

-47.4%

-14.4%

+61.8%

+1.4%

2016

11

115

31.4

$319,318

2015

16

109

20.4

$313,525

Change

-31.3%

+5.5%

+61.8%

+1.8%

2016

1

16

48.0

$635,000

2015

7

16

6.9

$564,500

Change

-87.5%

0.0%

+595.7%

+12.5%

2016

0

2

0

$0

2015

0

1

0

$0

Change

NA

+100%

NA

NA

2016

42

222

15.9

$219,802

2015

80

230

8.6

$231,149

Change

-47.5%

-3.5%

+84.4%

-4.9%

E XC LU S I V E LY P R E S E N T I N G :

N. Hutchinson Island

$899,900

Tarpon Flats

$759,900

Queens Cove $625,000

Get the most out of your #1 asset by using the market leader, Coldwell Banker Paradise.

% Market Share*

35.1

Last year, Coldwell Banker Paradise Agents helped more Hutchinson Island residents increase their personal wealth through the aquisition or selling of Island houses and condos. Find out what Coldwell Banker Paradise can do for you. Are you curious about what your home might be worth in today’s competitive market? Call us to change your life TODAY.

In 2015, Coldwell Banker Paradise listed and sold seven times more island properties than any other company.

COLDWELL BANKER PARADISE

4.6

4.2

D. Sorensen RE

TC Sotheby’s

3.3

2.8

Beach Font Mann

McCurdy RE

2.6 Keller Williams

*According to data pulled from Brokermetrics for Dec. 1, 2014 to Dec 1, 2015 for all properties in 34949 zipcode.

A SELECTION OF RECENT SOLDS:

North Hutchinson Island 2900 N. A1A $440,000

Harbour Isle PH05 $246,000

Ocean Village 2400 S Ocean Dr 4342 $325,000

S, Hutchinson Island 336 Fernandina St $239,000

C O L D W E L L

B A N K E R NORTH HUTCHINSON 464-7007

S. HUTCHINSON ISLAND 461-1324

Ocean Village 2400 S Ocean Drive 5627 $129,450

P A R A D I S E OCEAN VILLAGE 489-6100