Hutchinson Island 1st Quarter Market Report - 2018

Hutchinson Island & Ocean Village

RECENTLY SOLD

SOLD $995,000 4160 N Hwy A1a #1007A

SOLD $535,000 1671 Binney Drive

www.FLColdwellBanker.com

SOLD $429,000 2400 S Ocean Drive #4174

SOLD $410,000

SOLD $380,000

SOLD $369,000

3010 Windward Drive

1920 Rio Vista Drive

4100 Hwy A1a #132

SOLD $340,000 5061 N Hwy A1a #801

SOLD $315,000 1120 Granada Street

SOLD $325,000 5047 N Hwy A1a #1402

SOLD $285,000 219 River Walk #10

SOLD $317,000 5047 N Hwy A1a #1101

Homes selling fast!

Call to see how much your home is worth!

772-464-7007 or 772-461-1324

S HUTCHINSON ISLAND OFFICE 221 S Ocean Drive Fort Pierce, FL 34949 772-461-1324 N HUTCHINSON ISLAND OFFICE 4007 Florida A1A Fort Pierce, FL 34949 772-464-7007

OCEAN VILLAGE OFFICE 100 Mainsail Drive Fort Pierce, FL 34949 772-489-6100

www.FLColdwellBanker.com

2018 Hutchinson Island 1st Quarter Real Estate

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

$250,000

2017

4

2

1.5

$172,275

39

68

5.2

$192,947

4

0.0

0.0

$229,250

44

78

5.3

$178,177

Change

0.0%

-

-

-25.0%

-11.4%

-12.8%

-1.6%

+8.0%

$250,001 to

2018

9

19

6.3

$311,222

27

101

11.2

$315,700

$500,000

2017

12

16

4.0

$346,590

25

70

8.4

$310,148

Change

-25.0%

+18.8%

+58.3%

-10.0%

+8.0%

+44.3

+33.6%

+2.0%

$500,001 to

2018

4

24

18.0

$635,000

5

42

25.2

$756,800

$1,000,000

2017

3

23

23.0

$700,833

0

22

-

-

Change

+33.3%

+4.3%

-21.7%

-9.0%

-

+90.9%

-

-

Over

2018

2

8

12.0

$2,972,500

0

0

-

-

$1,000,000

2017

1

9

27.0

$1,690,000

0

3

-

-

Change

+100.0%

-11.1%

-55.6%

+76.0%

-

-100%

-

-

2018

19

53

8.4

$630,268

71

211

8.9

$279,336

2017

20

48

7.2

$443,429

69

173

7.5

$225,993

Change

-5..0%

+10.4%

+16.2%

+42.0%

-5.0%

+10.4%

+16.2%

+42.0%

Total

The Hutchinson Island condominium market is well balanced and should sustain steady moderate price increases, while buyers enjoy a sufficient supply of inventory from which to choose.

Supply in the under $250,000 market is at 5.3 months and should continue at this level. In the $250,000 to $500,000 market, supply has grown to approximately 11 months and price increases in the 2% range or lower will probably continue.

The biggest news in Hutchinson Island housing is the growth of the

luxury home market. Homes $500,000 to over $1 million, once unheard of, are now steadily selling and inventory is growing to keep pace with demand. Keep an eye on this portion of the market to continue to expand.

If you would like to find the right price for your home in today’s changing maket, contact us at 772-464-7007. With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise is the largest full service real estate company in the area.