2015 Hutchinson Island Third Quarter Market Report

2015 Hutchinson Island Third Quarter Real Estate

M A R K E T R E P O RT

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 3rd-Quarter Comparison 2015 to 2014 Island Properties Hard to Come By as Sales Slow and Inventory Tightens Portending good news for homeowner’s seeking to regain regained essential equity. If a homeowner hasn’t looked essential equity, island properties, both single family homes into how much their house or condo might be worth, and condos, remain at a premium with inventory low, and they will be pleasantly surprised,” added Schlitt. With prices steadily increasing reports Coldwell Banker Paradise winter looming and inventory continuing to tighten, in their just released 3rd Quarter Market Report for 2015. those living on the Treasure and Space coast might While single family homes priced under $500k remain elusive, want to urge their Northern family and friends to start inventory at the higher end of the market looking now.

With winter looming +$500K remains healthy.

Voted best St. Lucie brokerage by the As for condominiums, smart investors readers of Treasure Coast Newspapers, you may want to urge continue to take advantage of low interest Coldwell Banker Paradise prides itself your Northern friends rates and stable price increases across the on providing the best market knowledge board and are buying up any remaining available to home buyers and sellers and family to start inventory. “Sales have slowed overall, but through its Quarterly Market Reports looking. inventory continues to decrease, making and it’s knowledgeable agents. “Our condos a continuing solid investment,” agents are the experts, they are in the added Coldwell Banker Paradise Co-Owner and Broker neighborhoods, seeing what is selling and why. Want Steven Schlitt. “This segment of the market, condos on to know what is happening in your neighborhood? Ask Hutchinson Island, is uniquely poised for price increases over our agents today,” urged Schlitt. You can reach our the coming months,” added Schlitt.

North Hutchinson Island office at 772-464-7007, our

All signs bode well for current Hutchinson Island South Hutchinson Island office at 772-461-1324 and our homeowners: “Sellers can be confident that they have Ocean Village office at 772-489-6100.

SINGLE FAMILY HOMES 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

2015

24

4

1.5

$196,072

2014

35

12

3.1

$174,320

Change

-31.4%

-66.7%

-51.6%

+12.5%

2015

21

17

7.3

$371,718

2014

33

28

7.6

$364,599

Change

-36.4%

-39.3%

-4.1%

+2.0%

2015

15

16

9.6

$643,117

2014

10

10

9.0

$600,450

Change

+50%

+60.0%

+6.7%

+7.1%

2015

0

9

0

0

2014

1

10

90

$1,050,000

Change

-100%

-10%

-100%

-100%

2015

60

46

6.9

$369,310

2014

79

60

6.8

$307,868

Change

-24.1%

-23.3%

+1.5%

+20.0%

CONDOS Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2015

178

61

3.1

$163,751

2014

298

153

4.6

$167,112

Change

-40.3%

-60.1%

-33.0%

-2.0%

2015

68

75

9.9

$320,412

2014

96

152

14.3

$333,741

Change

-29.2%

-60.1%

-33.0%

-4.0%

2015

20

7

3.2

$591,700

2014

29

25

7.8

$610,338

Change

-31.0%

-72.0%

-59.6%

-3.1%

2015

0

3

0

$0

2014

1

3

27.0

$1,100,000

Change

-100%

0%

-100%

-100%

2015

266

146

4.9

$235,976

2014

424

333

7.1

$235,501

Change

-37.3%

-56.2%

-30.4%

+0.2%

What is my home or condo worth in today’s market?

Did you know that some online comparative analysis tools can bemore than 10% off? With Hutchinson Island condos now averaging $235K,that could mean your house could be worth $23,500 more than that website you just visited estimated. When was the last time you walked away from $23K? Only an expert in the local market can offer truly accurate local market analysis. As deep-rooted community members and leaders, Coldwell Banker Paradise agents have the big picture view, they know what sells and why, for what price, and how to get the most out of the market, both as a buyer and a seller. With Coldwell Banker Paradise agents you can trust that they are giving you the best information, the best service and the best experience available. Call today to find out what your home is really worth. In South Hutchinson Island you can reach us at 772- 461-1324 and in North Huthinson 772-464-7007.

E X C L U S I V E LY P R E S E N T I N G : VER ON CO

North Hutchinson Island $564,800 - One of a kind waterfront 4/4.5/2, every bedroom is a private suite

North Hutchinson Island $450,000 -Well constructed 4/3/2 in an amazing setting with deeded beach access

North Hutchinson Island $539,900 - Amazing 4/3/2 custom built home with the highest quality materials

North Hutchinson Island $394,900 -Oceanfront 3/3 in beautiful Great Grand Isle

Ocean Village $512,000 - 3/2 totally updated condo with stunning ocean front views

Ocean Village $235,000 -Spacious, turn key 2/2/1 ocean view condo

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PRSRT SSTD ECRWSS U.S. POSTAGE PAID EDDMRETAIL

A SELECTION OF RECENT SOLDS:

North Hutchinson Island 4310 N A1A $705,000

North Hutchinson Island 4400 N A1A $550,000

South Hutchinson Island 1564 Thumb Point Drive $645,000

South Hutchinson Island 2001 Mimosa Avenue $535,000

THE RIGHT REPRESENTATION MAKES ALL THE DIFFERENCE Coldwell Banker Paradise is the largest real estate brokerage firm in the area, with 9 offices serving St. Lucie, Indian River and Brevard Counties. We are commited to providing the highest level of real estate services to our clients with comprehensive regional marketing.

For over 60 years our family-owned and operated company has assembled a highly trained and professional sales organization.

We have specialists in residential and commercial sales, leasing services for both, as well as a property management division.

Whether you are considering buying, selling, leasing or professional management of your property, give us a call. We are open 7 days a week for your convenience.

C O L D W E L L

B A N K E R

NORTH HUTCHINSON 772-464-7007

S. HUTCHINSON ISLAND

OCEAN VILLAGE

772-461-1324

772-489-6100

P A R A D I S E