2018 MID-YEAR
Indian River & Huchinson Island
Market Report Call
Nancy Marquez for your Exclusive Preview today!
772-559-7282
Cristelle Cay HUTCHINSON ISLAND
T H E O N LY L U X U R Y N E W C O N D O M I N I U M S O N H U TC H I N S O N I S L A N D
Nancy Marquez, Broker Associate 772-559-7282 NancyMsellsRE@aol.com
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
$250,000
2017
7
0
0.0
$183,820
89
65
4.4
$190,328
$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%
2018
9
12
8
$633,000
15
39
15.6
$701,600
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%
$500,001 to $1,000,000
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 Nancy Marquez, Broker Associate at 772-559-7282 or email her at NancyMsellsRE@aol.com. I am your Hutchinson Island Luxury Specialist.
Testmonial “Nancy will always be considered a high recommendation from me based on her knowledge of the local area, her expertise as a Realtor, and her dedication to her job. Nancy has the uncanny ability to anticipate your needs as a client before you realize what you need. She has a calm, positive way of handling very difficult situations, which in our case always led to a very positive outcome” - eavo17
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
SOLD $1,050,000
1202 Isla Verde Square
SOLD $600,000
2041 Indian Summer Lane
SOLD $469,000
1155 Leeward Lane
5680 Hwy A1A #113
SOLD $380,000
SOLD $365,000
796 Dahlia Lane
556 Dahlia Lane
www.FLColdwellBanker.com
SOLD $800,000
370 Riverway Court
SOLD $470,000
9655 E Maiden Court
SOLD $385,000
224 N Carmel Court
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 changing With the recent interest rate increases and the anticipation market, contact Nancy Marquez, Broker Associate at 772-559-7282 or of further hikes we anticipate some pricing pressure. Selling email her at NancyMsellsRE@aol.com. I am your Vero Beach Island now while inventory’s are low could be beneficial. When Luxury Specialist.
Testmonial “Nancy was great to work with! She listens to what you want and does everything she can to find you your perfect house. Sometimes I think she even knows better than we do. We never thought that we would be able to get a brand new home for the price we did, in an area we love.” - Doreen M.
Vero Beach Mainland Mid-Year Market Report
RECENTLY SOLD
SOLD $615,000
260 Sea Gull Avenue
SOLD $360,000
SOLD $390,000
5728 Riverboat Circle
SOLD $335,000
www.FLColdwellBanker.com
SOLD $375,000
220 32nd Court SW
SOLD $305,000
460 40th Court SW
5441 Barbados Square
2009 Grey Falcon Circle, SW
SOLD $295,000
SOLD $295,000
SOLD $290,000
1358 Lexington Square
SOLD $290,000 5251 4th Place
925 32nd Avenue
SOLD $287,000 3256 59th Avenue
534 53rd Square
Homes are selling fast! Call to see how much your home is worth! Nancy Marquez 772-559-7282
2018 Vero Beach 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
566
217
2.3
$172,009
234
89
2.3
$108,648
$250,000
2017
621
202
2.0
$166,155
236
109
2.8
$101,250
Change
-8.9%
7.4%
17.9%
+4%
-0.8%
-18.3%
-17.7%
+7%
$250,001 to
2018
372
290
4.7
$326,281
6
15
15.0
$340,833
$500,000
2017
312
274
5.3
$323,841
15
5
2.0
$311,160
Change
+19.2%
+5.8%
-11.2%
+1%
-60%
+200%
+650%
+10%
Over
2018
42
92
13.1
$706,502
3
3
6.0
$1,061,667
$500,000
2017
52
89
10.3
$641,760
10
4
2.4
$620,200
Change
-19.2%
+3.4%
+28.0%
+10%
-70%
-25%
+150%
+71%
2018
980
599
3.7
$253,476.23
243
107
2.6
$126,146.63
2017
985
565
3.4
$241,210.32
261
118
2.7
$133,196.93
Change
-0.5%
+6%
+6.6%
+5%
-6.9%
-9.3%
-2.6%
-5%
Total
The Vero Beach mainland market had healthy and safe
If the macro-economic market continues to expand, more
growth in the first half of 2018. The number of homes rate increases can be expected. First time buyers and buyers sold was stable. The inventory of homes sold rose slightly. moving into larger family homes should consider buying The average price of homes sold rose by a sustainable 5%. soon to lock in these lower rates. The statistics indicate a market that is stable and not overheated.
Inventory should keep growing since the increased rates will slow price increases. Now is a good time to get a home
Even though the inventory remains tight, with a 3.7 month on the market. supply, rising interest rates will continue to hold prices down. If you would like to find the right price for your home in today’s changing While the increase in interest rates has lowered buying market, contact Nancy Marquez, Broker Associate at 772-559-7282 or power for those purchasing with loans by 30%, today’s email her at NancyMsellsRE@aol.com. I am your Vero Beach Mainland interest rates are still low in comparison to historical rates. Real Estate Specialist.
Testmonial “I want to share the good experience that I recently had in researching and locating a home in the Vero Beach area. Nancy was highly recommended by my insurance company, USAA and i am glad that they did. I gave Nancy the details of my goal to find a home and she quickly and effectively helped me to find a home that fitted my budget and interest. Thanks Nancy.” - Armando A.
FROM THE
$760’s to $1.2m
Cristelle Cay Cristelle Cay HUTCHINSON ISLAND
RX-10433508
To learn about this exclusive opportunity, call Nancy Marquez 772-559-7282 for your private preview. www.livehutchinsonisland.com