2018 MID-YEAR
Indian River & St. Lucie
Market Report
O
T he Ochse
GLOBAL LUXURY TEAM
Altamira 3rd Floor $775,000
Daniel Ochse, PA, Broker Associate 772-633-8200 Natalie Ochse, REALTOR® 772-370-8675
Hutchinson Island Mid-Year Market Report
RECENTLY SOLD
SOLD $715,000
4160 N A1A #1306
SOLD $433,000
1562 Island Cove Road
SOLD $375,000
11390 Bayshore Drive
SOLD $335,000
2416 Atlantic Beach Blvd
SOLD $515,000
3024 Windward Drive #1206
SOLD $380,000
1920 Rio Vista Drive
SOLD $360,000
2416 Harbour Cove Drive
SOLD $325,000
30 Harbour Drive West
www.FLColdwellBanker.com
SOLD $475,000
1016 Windward Drive
SOLD $375,000
1390 Bayshore Drive
SOLD $360,000
2400 S Ocean Drive #8153
2018 Hutchinson Island Mid-Year
MARKET REPORT
Price Point
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
Condos Sold
Current Listings
Month’s Supply
Average Price
Under
2018
5
4
4.8
$183,820
89
65
4.4
$190,328
$250,000
2017
7
0
0.0
$221,429
100
58
3.5
$187,382
Change
-28.6%
N/A
N/A
-17%
-11%
+12.1%
+25.9%
+2%
$250,001 to
2018
25
13
3.1
$338,920
72
97
8.1
$328,092
$500,000
2017
24
15
3.8
$364,497
65
73
6.7
$318,680
Change
+4.25%
-13.3%
-16.8%
-7%
10.8%
32.9%
20.0%
3%
$500,001 to
2018
9
12
8
$633,000
15
39
15.6
$701,600
$1,000,000
2017
10
25
15
$704,020
6
22
22.0
$606,917
Change
-10%
-52%
-46.7%
-10%
150.0%
77.3%
-29.1%
16%
Over
2018
6
7
7.0
$2,128,667
0
1
N/A
-
$1,000,000
2017
3
11
22.0
$1,876,667
0
3
N/A
-
Change
100.0%
-36.4%
-68.2%
13%
N/A
-66.7%
N/A
N/A
2018
45
36
4.8
$619,135.60
176
202
6.9
$290,260.32
2017
44
51
7.0
$522,003
171
156
5.5
$252,011.12
Change
+2.3%
-29.4%
-31.0%
+19%
+2.9%
+29.5%
+25.8%
+15%
Total
The luxury home market was the big story in real estate in the first half of 2018 in Hutchinson Island. The Hutchinson Island market is dominated by condominiums, and that market remains strong. The average price of condominiums rose by 15%. The key driver of this increase was in luxury units over $500,000, which saw a 150% increase in sales. Condominiums below $500,000 rose a moderate 3% in average price. The single family sales below $1 million were also sluggish. Average prices in each market segment declined by a value driven buyer looking for a good deal. However, increasing
sales in the over $1 million market pushed up the overall average sale price. This is not a market as driven by interest rates, but is value driven. Price increases will continue, but at a modest pace. With new construction growing the luxury inventory on the island, expect this to continue to be the exciting news on Hutchinsion Island. If you would like to find the right price for your home in today’s changing market, contact Daniel Ochse, PA, Broker Associate at 772-633-8200 or Natalie Ochse, REALTOR® at 772-370-8675. We are your Coldwell Banker Paradise Global Luxury Team.
F. Reid reviewed Daniel Ochse P.A. “Daniel was recommended to me by an Escrow Officer. He was professional, courteous, knowledgeable, and kept me informed every step of the way. He did not try to over promise and underdeliver. He did not come back to me to lower the price of the home. Daniel was up front, personable, on site when promised, and took care of things as needed. I was able to completely turn the selling of my home over to him and no longer had to worry that everything was getting done. It was a pleasure to work with him. Base on this experience, I would always recommend Daniel O to anyone buying, selling, or renting real estate in Central Florida. My highest rating - Job well done!”
St Lucie County Mainland Market Report
RECENTLY SOLD
SOLD $1,250,000
2507 S Indian River Drive
SOLD $423,000 718 Boston Ave
SOLD $375,000
11390 Bayshore Drive
SOLD $327,000 2472 Elston Street
SOLD $675,000
2501 S Indian River Drive
SOLD $400,000
20 Orange Ave., PH 1
SOLD $335,000
2416 Atlantic Beach Blvd
SOLD $290,000 1606 Francis Ave
www.FLColdwellBanker.com
SOLD $475,000 1010 S 9th Street
SOLD $400,000
10301 S Indian River Drive
SOLD $330,000
2450 SE Grand Drive
“My husband and I were very pleased with the results Daniel was able to achieve in the selling of our home. He was very personable yet professional in every aspect of the process. We knew he had our best interest at heart when offers were presented to us. We highly recommend him to any potential home buyer or seller!”
- krencikt
2018 St Lucie County Mid-Year
MARKET REPORT
Price Point
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
Condos Sold
Current Listings
Month’s Supply
Average Price
Under
2018
1883
518
1.7
$186,708
203
81
2.4
$109,680
$250,000
2017
2150
640
1.8
$177,920
199
78
2.4
$93,561
Change
-12.4%
-19.1%
-7.6%
+5%
+2%
+3.8%
+1.8%
+17%
$250,001 to
2018
800
652
4.9
$309,867
3
1
2.0
$360,000
$500,000
2017
645
648
6.0
$306,753
3
3
6.0
$330,667
Change
+24%
+0.6%
-18.9%
+1%
0.0%
-66.7%
-66.7%
+9%
2018
44
91
12.4
$610,917
0
2
N/A
-
2017
44
98
13.4
$649,705
0
2
N/A
-
0.0%
-7.1%
-7.1%
-6%
N/A
0%
N/A
N/A
7
15
1.9
$1,541,429
0
2
N/A
-
$500,001 to $1,000,000
Change Over
2018
$1,000,000
2017
4
26
3.9
$1,607,500
0
3
N/A
-
+75%
-42.3%
-67%
-4%
N/A
-33.3%
N/A
N/A
2018
2734
1276
2.8
$233,041.37
206
86
2.5
$113,325.44
2017
2843
1412
3.0
$216,461.73
202
86
2.6
$97,082.38
-3.8%
-9.6%
-6%
+8%
+2%
0%
-1.9%
+17%
Change Total
Change
The St. Lucie housing market has experienced 8% price growth. The price increases were in the market under $500,000. Prices in the over $500,000 market is a small percentage of the market but prices and number of sales in that market declined. Inventory declined by just under 10% and the number of homes sold declined by 3.8% mostly due to lack of availability of affordable homes in the lower price range. The condominium market is stable in the number of sales and inventory. It experienced 17% price escalation as buyers have moved to condominiums from single family
homes to find something just over and under $100,000. Now is a good time to sell! Prices have escalated over the last several years and rising interest rates and the anticipation of further increases may cause inventories to rise and provide tough competition for sellers. If you would like to find the right price for your home in today’s changing market, contact Daniel Ochse, PA, Broker Associate at 772-633-8200 or Natalie Ochse, REALTOR® at 772-370-8675. We are your Coldwell Banker Paradise Global Luxury Team.
Vero Beach Island Mid-Year Market Report
RECENTLY SOLD
SOLD $3,053,500
420 Coconut Palm Road
SOLD $635,000 376 Eugenia Road
SOLD $461,000
1155 Leeward Lane
SOLD $380,000 796 Dahlia Lane
SOLD $1,050,000
1202 Isla Verde Square
SOLD $600,000
2041 Indian Summer Lane
SOLD $469,000
www.FLColdwellBanker.com
SOLD $800,000
370 Riverway Court
SOLD $470,000
9655 E Maiden Court
SOLD $385,000
5680 Hwy A1A #113
224 N Carmel Court
SOLD $365,000
Homes are selling fast! Call to see how much your home is worth! Daniel 772-633-8200 Natalie 772-370-8675 Ochse Global Luxury
556 Dahlia Lane
2018 Vero Beach Island Mid-Year
MARKET REPORT
Price Point
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
Condos Sold
Current Listings
Month’s Supply
Average Price
Under
2018
60
39
3.9
$412,285
86
108
7.5
$313,428
$500,000
2017
77
34
2.6
$402,895
74
90
7.3
$297,574
Change
-22.1%
14.7%
50%
+2%
+16.2%
+20%
+3.3%
+5%
$500,001 to
2018
105
141
8.1
$685,347
40
49
7.4
$649,280
$1,000,000
2017
90
137
9.1
$707,154
40
35
5.3
$649,375
Change
+16.7%
+2.9%
-11.8%
-3%
0%
+40%
+40%
0%
Over
2018
82
165
12.1
$2,164,384
8
27
12.8
$1,830,250
$1,000,000
2017
63
185
17.6
$2,059,915
13
27
12.5
$1,664,615
Change
+30.2%
-10.8%
-31.5%
+5%
-38.5%
0%
+2.3%
+10%
2018
247
345
8.4
$1,110,032.48
134
174
7.8
$504.238.87
2017
230
356
9.3
$975,832.26
127
152
7.2
$548,310.80
Change
+7.4%
-3.1%
-9.8%
+14%
+5.5%
+14.5%
+8.5%
-8%
Total
The Vero Beach Island single family market has been the tax law changes were announced last year, we expected extremely strong this year. Prices are up 14% and the an increase in buyers from high tax states. However, many number of sales are up 7.4% . The month’s supply of homes of those areas have experienced decline in home prices and has decreased by almost 10%.
although we think it will be beneficial in the future for our
The condominium market has also experienced a 5.5% area it has not impacted the market at this point. rise in sales, but prices have averaged an 8% decrease. Now is a good time for sellers to contemplate selling. If you would like to find the right price for your home in today’s With the recent interest rate increases and the anticipation changing market, contact Daniel Ochse, PA, Broker Associate at of further hikes we anticipate some pricing pressure. Selling 772-633-8200 or Natalie Ochse, REALTOR® at 772-370-8675. now while inventory’s are low could be beneficial. When We are your Coldwell Banker Paradise Global Luxury Team.
We Need Listings Daniel & Natalie Ochse, REALTORS YOUR GLOBAL LUXURY TEAM Coldwell Banker Paradise N. Hutchinson Island Office 4007 Highway A1A,Vero Beach, FL 34949 ®
O
T he Ochse
GLOBAL LUXURY TEAM
Well-Respected Global Luxury Team Daniel Ochse, Broker-Associate & Natalie Ochse, REALTOR® Specializing in Luxury Residential Commercial & Agricultural
WE ARE YOUR TRUSTED REAL ESTATE ADVISORS The Ochse Global Luxury Team brings extensive International experience and is uniquely qualified to represent buyers and sellers in Florida. Daniel: dochse@gmail.com • Natalie: natochse@gmail.com
Whether it’s the purchase or sale of a condominium, luxury home on the island or a 1,000 acre tract of land west of town, the Ochse Team’s “Let’s DO IT” attitude is paramount to providing personal service that always exceeds their client’s expectations.
Call for a confidential meeting and learn what your property is worth, Daniel at 772-633-8200 or Natalie at 772-370-8675.