Hutch Island 2nd Quarter Market Report 2017

2017 Hutchinson Island Mid-Year Real Estate

MARKET REPORT

$799,500

1714 Coconut Drive Offered by Hoyt “Pat” Murphy

N. HUTCHINSON 4007 N. Hwy. A1A 772.464.7007

S. HUTCHINSON 221 Ocean Drive 772.461.1324

OCEAN VILLAGE 100 Mainsail Drive 772.489-6100

Hutchinson Island Mid-Year Comparison 2017 to 2016 2nd Quarter Activity Leads to Gains in Hutchinson Island Market Many homeowners, especially at the over $500k price point, have recovered enough equity to start exploring their options. This has led to increases in both inventory and sales at this level, providing a real upturn in activity on Hutchinson Island for the 2nd Quarter reports Coldwell Banker Paradise.

Waterfront and new development dominated the 2nd Quarter single family home sales. The largest improvement for Hutchinson Island properties was in the over $1M market with a significant amount of new listings at 83.3%.

Homeowners are likely seeing the positive trend in the sellers market with buyers buying at a fast rate. Price increases were healthy, while overall sales saw a decrease of 21% (mostly due to inactivity at the beginning of the year). Inventory has been steadily increasing providing more selection for buyers.

Buyers relocating to Hutchinson Island will find inventory increasing and homes under $500K adjusting in price. It will serve them well to have an experienced agent keeping them up to date with new properties on the market.

Condominium sales on Hutchinson Island are experiencing a market adjustment, with sales down and prices stabilizing.

“Its a great time to sell with real movement in the market, and if you are in the market to buy, now is a better time than ever,” stated Coldwell Banker Paradise Co-Owner and Broker Linda Schlitt Gonzalez. “Interest rates are likely to rise, now would be advisable for buyers to jump in.”

With eleven offices from Stuart to Satellite Beach, Coldwell Banker Paradise prides itself on providing the best market analysis available to home buyers and sellers through its Quarterly Market Reports and its knowledgeable agents.

To find out what your home may be worth in this market, call our N. Hutchinson Island office at 772-464-7007, our S. Huthinson Island office at 772-461-1324 or our Ocean Village office at 772-489-6100.

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

18

2

0.7

$203,433

Change

-61.1%

-100.0%

-100.0%

+9.0%

2017

24

15

3.8

$364,497

2016

25

19

4.5

$380,544

Change

-4.0%

-21.1%

-17.8%

-4.0%

2017

10

25

15.0

$704,020

2016

8

23

17.3

$342,072

Change

+25.0%

+8.7%

-13.0%

+106%

2017

3

11

22.0

$1,876,667

2016

5

6

7.2

$1,542,000

Change

-40.0%

-83.3%

205.6%

22%

2017

44

51

7.0

$522,003

2016

56

50

5.4

$421,820

Change

-21.4%

+2.0%

+29.8%

+24.0%

Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Total

CONDOS

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2017

100

58

3.5

$187,382

2016

134

55

2.5

$185,719

Change

-25.4%

+5.5%

+41.3%

+1.0%

2017

65

73

6.7

$318,680

2016

105

78

4.5

$319,529

Change

-38.1%

-6.4%

+51.2%

0.0%

2017

6

22

22

$606,917

2016

8

15

11.3

$633,750

Change

-25.0%

+46.7%

-28%

-4.0%

2017

171

156

5.5

$252,011

2016

247

148

3.6

$257,112

Change

-30.8%

+5.4%

+52.3%

-2.0%

A Selection of Recently Sold Properties

$832,700

1707 Sunset Isles Road

$350,000

1906 Coconut Drive

$776,300

$450,000

$224,000

$112,000

2900 A1A, The Atrium

7 Harbour Isle Drive

2400 S Ocean Drive

2400 S Ocean Drive

Coldwell Banker Paradise Dominates Hutchinson Island Listings & Sales!

With 68 years of experience in the Fort Pierce market, Coldwell Banker Paradise continues to 30 outpace all other companies, in both sales and listings.

25 “One of the main reasons we 20 continue to do so well in this market is that customers know 15 and trust our name, our history and our company and most 10 importantly, our values. Hoyt Murphy was fundamental to 5 bringing ethics and integrity to Fort Pierce real estate, we are proud to carry on his legacy0 and tradition,” stated Co-Owner and Broker Linda Schlitt Gonzalez.

Proud of its history, grounded in tradition, and growing thanks to its values, Coldwell Banker Paradise is the area’s oldest and largest, full-service Real Estate Company. Founded in 1953 by Ed and Marguerite Schlitt, and currently led by their son and daughter, Steven and Linda, the entire Coldwell Banker Paradise family of agents and staff proudly embrace the Schlitt principles of honesty, hard work

Chart Title

28.3%

Marketshare for 34949

“Customers know and trust our name...”

--Linda Schlitt Gonzalez 6.9%

6.5%

5.7% 3.1%

Sorensen Sotheby’s Series1 Series2 Series3

Harbour Series4 Isle

2.8%

1

PreferredSeries6 Series5

and an unwavering commitment to outstanding customer and community service.

“My father and mother set a high standard,” stated Steven Schlitt. “They spent a lifetime striving to be the best in the profession and that is what I strive for every day.”

With 28.3% market share, Coldwell Banker Paradise has a solid foothold on Hutchinson

KW Series7

2.6%

2.5%

Beach Series8 Front Mann

Atlantic Shores

*Taken from Brokermetrics, YTD Total List & Sold for 34949.

Nobody Knows the Market Like We Do!

Island, but “we have room to grow. With our knowledge of the local market, our agents years of experience and our companies vast property managment experience, we really can bring the best of services to our customers,” added Linda Schlitt Gonzalez.

To find out more about our services, visit one of our Island Offices today!