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