2017 Hutchinson island Third Quarter Real Estate Market Report

2017 Hutchinson Island 3rd Quarter Real Estate

MARKET

REPORT

N. HUTCHINSON 4007 N. Hwy. A1A

Nancy Marquez BROKER ASSOCIATE 772.559.7282

NANCYMSELLSRE@AOL.COM 10% of all proceeds Nancy earns through real estate transactions are donated to the support of the local foster care program.

Hutchinson Island 3rd Quarter Comparison 2017 to 2016 New Construction Driving Prices Up On Hutchinson Island Leading to a Transitioning Market The housing market on Hutchinson Island is undergoing a transition towards

New construction continues to dominate the Hutchinson Island single family

a more upscale market reports Coldwell Banker Paradise in their recently

home market, with a number of luxury new home builds continuing to drive

released 3rd Quarter Market Report for 2017. Formally a housing market

up price points. At the same time, inventory has increased, especially at the

where buyers could purchase more affordable units under $250K, much of the

higher end of the market, with a significant increase in homes available over

inventory at that price point, for both single family homes and condos, has

$1m, giving buyers a strong supply to choose from.

disappeared. With zero months supply and an 82.1% decline in sales, single family homes for sale under $250k are few and far between.

As for condos on Hutchinson Island, a decrease in sales is leading to a more

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

2017

7

0

0.0

$221,429

2016

39

0

0.0

$208,583

Change

-61.1%

N/A

N/A

+6.0%

2017

29

18

5.6

$372,894

2016

41

21

4.6

$350,414

Change

-29.3%

-14.3%

21.2%

6.0%

2017

16

19

10.7

$706,262

2016

15

27

16.2

$691,374

Change

+6.7

-29.6%

-34.0%

+2.0%

2017

4

8

18.0

$1,688,750

2016

7

1

1.3

$2,205,800

Change

-42.9%

+700.0%

1300.0%

-23.0%

2017

26

45

7.2

$543,199

2016

102

49

4.3

$473,656

Change

-21.4%

+2.0%

+29.8%

+15.0%

balanced market between buyers and sellers. If this continues, the island

With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker

condo market is likely to see a stabiliztion in prices.

Paradise recently celebrated 64 years of continued service to its clients and communities. Proud of its history, grounded in tradition, and growing thanks to

National trends continue to buoy local markets as well. With the US job mar-

its values, Coldwell Banker Paradise is the area’s only full service real estate

ket on a historic streak of over 80 months consecutive job growth, it is a good

company with six divisions including: residential sales and rentals, commercial

time to be buying or selling homes. As has been the case in recent years,

sales and leases, property management, and concierge services.

interest rates are likely to remain low in the near future, with only gradual increases to come down the road. And although the economy is enjoying

To speak with Nancy Marquez, Broker Associate call her directly at 772-559-

robust growth, wages have not kept pace. A factor that is likely contributing

7282 or email her at NancyMsellsRE@aol.com.

to the price stabilization we are seeing across markets. That, in combination with buyer resistance and financing are all holding prices stable.

Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Total

www.FLColdwellBanker.com/nancymarquez

CONDOS

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2017

136

49

3.2

$183,687

2016

206

65

2.8

$198,000

Change

-34.0%

-24.6%

+14.2%

-7.0%

2017

85

63

6.7

$324,437

2016

158

79

4.5

$303,203

Change

-46.2%

-20.3%

+48.2%

+7.0%

2017

14

22

15.4

$641,607

2016

16

17

9.6

$655,326

Change

-12.5%

+41.2%

61.3%

-2.0%

2017

235

141

5.4

$261,877

2016

381

161

3.8

$260,313

Change

-38.3%

-12.4%

+42.0%

+1.0%

Nancy Marquez Has the Competitive Edge!

Using proprietary technology, I BRING THE BUYERS to each and every transaction. Using targeted software applications, and the latest in lead development and capture, I can not only target likely buyers, but have the technology in my hands, to put YOUR home in front of the most likely buyers. I don’t just work locally, but regionally, nationally and internationally to put your home front and center.

With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise recently celebrated 64 years of continued service to its clients and communities. Proud of its history, grounded in tradition, and growing thanks to its values, Coldwell Banker Paradise is the area’s only full service real estate company with six divisions including: residential sales and rentals, commercial sales and leases, property management, and concierge services. To learn how much your home has gone up in value in today’s market and to speak with Nancy Marquez, Broker Associate today call 772-559-7282.

A Selection of Recently Sold Properties

$770,000

118 Queen Eugenia Court

$295,000

14 Harbour Isle Drive W.

$530,000

2900 Highway A1A