Hutchinson Island Real Estate Report 2nd Quarter 2017 0
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Presented by Hank Wolff, REALTOR®
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Hank Wolff REALTOR® 772.321.5080 hwolff@tcsir.com Local knowledge. Global reach. The Hutchinson Island residential real estate market showed consistency and moderate growth from 2nd quarter 2016 to 2nd quarter 2017. Overall median and average sale prices have increased from the year prior. This can give buyers confidence the market is on a healthy trend upward. Owners can often lock in gains by selling now after years of appreciation. The noteworthy increase of days on the market for single family homes may be eye-catching, but is counterbalanced by the great decrease of days on the market among condominiums. Typically an increase of days on the market points to a slowing of a market, however consistency of closings is reaffirming market growth is continuing. These mixed results will be important to monitor going forward. While Coral Cove, Surfside Estates, Tarpon Flats, and Thumb Point are noteworthy neighborhoods of high-end homes, Hutchinson Island is still driven by the condo market as there are 4 times more condos than single family homes. Many of the condominium sales are in complexes such as; Harbour Isle, Colonnades, Ocean Village, The Atrium, Ocean Pearl, Altamira and Grand Isle. Hutchinson Island offers a great value for buyers seeking low prices coupled with proximity to beaches, golf courses, ocean access and marinas. Many of these buyers are coming from Canada, Northeastern United States and Southeast Florida.
Single Family Homes
Median Sale Price Quarterly Comparison North Hutchinson Island +6%
Condominiums
South Hutchinson Island +13% *Source: REALTORS® Association of Palm Beach County. Information deemed reliable but not guaranteed. Figures rounded to the nearest dollar. Map boundaries estimated. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Each Office Is Independently Owned And Operated.