Ochse Global Luxury Team 2018 Mid-Year Market Report

2018 MID-YEAR

Indian River & St. Lucie

Market Report

O

T he Ochse

GLOBAL LUXURY TEAM

Altamira 3rd Floor $775,000

Daniel Ochse, PA, Broker Associate 772-633-8200 Natalie Ochse, REALTOR® 772-370-8675

Hutchinson Island Mid-Year Market Report

RECENTLY SOLD

SOLD $715,000

4160 N A1A #1306

SOLD $433,000

1562 Island Cove Road

SOLD $375,000

11390 Bayshore Drive

SOLD $335,000

2416 Atlantic Beach Blvd

SOLD $515,000

3024 Windward Drive #1206

SOLD $380,000

1920 Rio Vista Drive

SOLD $360,000

2416 Harbour Cove Drive

SOLD $325,000

30 Harbour Drive West

www.FLColdwellBanker.com

SOLD $475,000

1016 Windward Drive

SOLD $375,000

1390 Bayshore Drive

SOLD $360,000

2400 S Ocean Drive #8153

2018 Hutchinson Island Mid-Year

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

5

4

4.8

$183,820

89

65

4.4

$190,328

$250,000

2017

7

0

0.0

$221,429

100

58

3.5

$187,382

Change

-28.6%

N/A

N/A

-17%

-11%

+12.1%

+25.9%

+2%

$250,001 to

2018

25

13

3.1

$338,920

72

97

8.1

$328,092

$500,000

2017

24

15

3.8

$364,497

65

73

6.7

$318,680

Change

+4.25%

-13.3%

-16.8%

-7%

10.8%

32.9%

20.0%

3%

$500,001 to

2018

9

12

8

$633,000

15

39

15.6

$701,600

$1,000,000

2017

10

25

15

$704,020

6

22

22.0

$606,917

Change

-10%

-52%

-46.7%

-10%

150.0%

77.3%

-29.1%

16%

Over

2018

6

7

7.0

$2,128,667

0

1

N/A

-

$1,000,000

2017

3

11

22.0

$1,876,667

0

3

N/A

-

Change

100.0%

-36.4%

-68.2%

13%

N/A

-66.7%

N/A

N/A

2018

45

36

4.8

$619,135.60

176

202

6.9

$290,260.32

2017

44

51

7.0

$522,003

171

156

5.5

$252,011.12

Change

+2.3%

-29.4%

-31.0%

+19%

+2.9%

+29.5%

+25.8%

+15%

Total

The luxury home market was the big story in real estate in the first half of 2018 in Hutchinson Island. The Hutchinson Island market is dominated by condominiums, and that market remains strong. The average price of condominiums rose by 15%. The key driver of this increase was in luxury units over $500,000, which saw a 150% increase in sales.

Condominiums below $500,000 rose a moderate 3% in average price.

The single family sales below $1 million were also sluggish.

Average prices in each market segment declined by a value driven buyer looking for a good deal. However, increasing

sales in the over $1 million market pushed up the overall average sale price.

This is not a market as driven by interest rates, but is value driven. Price increases will continue, but at a modest pace. With new construction growing the luxury inventory on the island, expect this to continue to be the exciting news on Hutchinsion Island.

If you would like to find the right price for your home in today’s changing market, contact Daniel Ochse, PA, Broker Associate at 772-633-8200 or Natalie Ochse, REALTOR® at 772-370-8675. We are your Coldwell Banker Paradise Global Luxury Team.

F. Reid reviewed Daniel Ochse P.A. “Daniel was recommended to me by an Escrow Officer. He was professional, courteous, knowledgeable, and kept me informed every step of the way. He did not try to over promise and underdeliver. He did not come back to me to lower the price of the home. Daniel was up front, personable, on site when promised, and took care of things as needed. I was able to completely turn the selling of my home over to him and no longer had to worry that everything was getting done.

It was a pleasure to work with him. Base on this experience, I would always recommend Daniel O to anyone buying, selling, or renting real estate in Central Florida. My highest rating - Job well done!”

St Lucie County Mainland Market Report

RECENTLY SOLD

SOLD $1,250,000

2507 S Indian River Drive

SOLD $423,000 718 Boston Ave

SOLD $375,000

11390 Bayshore Drive

SOLD $327,000 2472 Elston Street

SOLD $675,000

2501 S Indian River Drive

SOLD $400,000

20 Orange Ave., PH 1

SOLD $335,000

2416 Atlantic Beach Blvd

SOLD $290,000 1606 Francis Ave

www.FLColdwellBanker.com

SOLD $475,000 1010 S 9th Street

SOLD $400,000

10301 S Indian River Drive

SOLD $330,000

2450 SE Grand Drive

“My husband and I were very pleased with the results Daniel was able to achieve in the selling of our home.

He was very personable yet professional in every aspect of the process.

We knew he had our best interest at heart when offers were presented to us. We highly recommend him to any potential home buyer or seller!”

- krencikt

2018 St Lucie County Mid-Year

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

1883

518

1.7

$186,708

203

81

2.4

$109,680

$250,000

2017

2150

640

1.8

$177,920

199

78

2.4

$93,561

Change

-12.4%

-19.1%

-7.6%

+5%

+2%

+3.8%

+1.8%

+17%

$250,001 to

2018

800

652

4.9

$309,867

3

1

2.0

$360,000

$500,000

2017

645

648

6.0

$306,753

3

3

6.0

$330,667

Change

+24%

+0.6%

-18.9%

+1%

0.0%

-66.7%

-66.7%

+9%

2018

44

91

12.4

$610,917

0

2

N/A

-

2017

44

98

13.4

$649,705

0

2

N/A

-

0.0%

-7.1%

-7.1%

-6%

N/A

0%

N/A

N/A

7

15

1.9

$1,541,429

0

2

N/A

-

$500,001 to $1,000,000

Change Over

2018

$1,000,000

2017

4

26

3.9

$1,607,500

0

3

N/A

-

+75%

-42.3%

-67%

-4%

N/A

-33.3%

N/A

N/A

2018

2734

1276

2.8

$233,041.37

206

86

2.5

$113,325.44

2017

2843

1412

3.0

$216,461.73

202

86

2.6

$97,082.38

-3.8%

-9.6%

-6%

+8%

+2%

0%

-1.9%

+17%

Change Total

Change

The St. Lucie housing market has experienced 8% price growth. The price increases were in the market under $500,000. Prices in the over $500,000 market is a small percentage of the market but prices and number of sales in that market declined.

Inventory declined by just under 10% and the number of homes sold declined by 3.8% mostly due to lack of availability of affordable homes in the lower price range.

The condominium market is stable in the number of sales and inventory. It experienced 17% price escalation as buyers have moved to condominiums from single family

homes to find something just over and under $100,000.

Now is a good time to sell! Prices have escalated over the last several years and rising interest rates and the anticipation of further increases may cause inventories to rise and provide tough competition for sellers.

If you would like to find the right price for your home in today’s changing market, contact Daniel Ochse, PA, Broker Associate at 772-633-8200 or Natalie Ochse, REALTOR® at 772-370-8675.

We are your Coldwell Banker Paradise Global Luxury Team.

Vero Beach Island Mid-Year Market Report

RECENTLY SOLD

SOLD $3,053,500

420 Coconut Palm Road

SOLD $635,000 376 Eugenia Road

SOLD $461,000

1155 Leeward Lane

SOLD $380,000 796 Dahlia Lane

SOLD $1,050,000

1202 Isla Verde Square

SOLD $600,000

2041 Indian Summer Lane

SOLD $469,000

www.FLColdwellBanker.com

SOLD $800,000

370 Riverway Court

SOLD $470,000

9655 E Maiden Court

SOLD $385,000

5680 Hwy A1A #113

224 N Carmel Court

SOLD $365,000

Homes are selling fast!

Call to see how much your home is worth!

Daniel 772-633-8200 Natalie 772-370-8675 Ochse Global Luxury

556 Dahlia Lane

2018 Vero Beach Island Mid-Year

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

60

39

3.9

$412,285

86

108

7.5

$313,428

$500,000

2017

77

34

2.6

$402,895

74

90

7.3

$297,574

Change

-22.1%

14.7%

50%

+2%

+16.2%

+20%

+3.3%

+5%

$500,001 to

2018

105

141

8.1

$685,347

40

49

7.4

$649,280

$1,000,000

2017

90

137

9.1

$707,154

40

35

5.3

$649,375

Change

+16.7%

+2.9%

-11.8%

-3%

0%

+40%

+40%

0%

Over

2018

82

165

12.1

$2,164,384

8

27

12.8

$1,830,250

$1,000,000

2017

63

185

17.6

$2,059,915

13

27

12.5

$1,664,615

Change

+30.2%

-10.8%

-31.5%

+5%

-38.5%

0%

+2.3%

+10%

2018

247

345

8.4

$1,110,032.48

134

174

7.8

$504.238.87

2017

230

356

9.3

$975,832.26

127

152

7.2

$548,310.80

Change

+7.4%

-3.1%

-9.8%

+14%

+5.5%

+14.5%

+8.5%

-8%

Total

The Vero Beach Island single family market has been the tax law changes were announced last year, we expected extremely strong this year. Prices are up 14% and the an increase in buyers from high tax states. However, many number of sales are up 7.4% . The month’s supply of homes of those areas have experienced decline in home prices and has decreased by almost 10%.

although we think it will be beneficial in the future for our

The condominium market has also experienced a 5.5% area it has not impacted the market at this point. rise in sales, but prices have averaged an 8% decrease.

Now is a good time for sellers to contemplate selling. If you would like to find the right price for your home in today’s With the recent interest rate increases and the anticipation changing market, contact Daniel Ochse, PA, Broker Associate at of further hikes we anticipate some pricing pressure. Selling 772-633-8200 or Natalie Ochse, REALTOR® at 772-370-8675. now while inventory’s are low could be beneficial. When We are your Coldwell Banker Paradise Global Luxury Team.

We Need Listings Daniel & Natalie Ochse, REALTORS YOUR GLOBAL LUXURY TEAM Coldwell Banker Paradise N. Hutchinson Island Office 4007 Highway A1A,Vero Beach, FL 34949 ®

O

T he Ochse

GLOBAL LUXURY TEAM

Well-Respected Global Luxury Team Daniel Ochse, Broker-Associate & Natalie Ochse, REALTOR® Specializing in Luxury Residential Commercial & Agricultural

WE ARE YOUR TRUSTED REAL ESTATE ADVISORS The Ochse Global Luxury Team brings extensive International experience and is uniquely qualified to represent buyers and sellers in Florida.

Daniel: dochse@gmail.com • Natalie: natochse@gmail.com

Whether it’s the purchase or sale of a condominium, luxury home on the island or a 1,000 acre tract of land west of town, the Ochse Team’s “Let’s DO IT” attitude is paramount to providing personal service that always exceeds their client’s expectations.

Call for a confidential meeting and learn what your property is worth, Daniel at 772-633-8200 or Natalie at 772-370-8675.