Mid-Year Market Report 2018_Cheryl Brush

2018 MID-YEAR

St. Lucie County

Market Report

Cheryl Brush, REALTOR® 772-359-7706 BrushRE@aol.com

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 market, contact Cheryl Brush, Realtor at 772-359-7706. I have lived in this area my entire life, and am your real estate expert serving Hutchinson Island, Ocean Village and the St. Lucie County mainland area.

John and Nancy V. “I highly recommend Cheryl as your Realtor. She is smart, likable, devotes a lot of personal time to her clients, and knows the real estate business. Her knowledge of the Ocean Village market is of particular value for folks planning a sale or purchase here.”

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

SOLD $675,000

2501 S Indian River Drive

SOLD $400,000

20 Orange Ave., PH 1

SOLD $335,000

11390 Bayshore Drive

2416 Atlantic Beach Blvd

SOLD $327,000

SOLD $290,000

2472 Elston Street

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

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 market, contact Cheryl Brush, Realtor at 772-359-7706. I have lived in this area my entire life, and am your real estate expert serving Hutchinson Island, Ocean Village and the St. Lucie County mainland area.

Tom and Pat M. “Thank you Cheryl for assisting us with the sale of our Mothers home! It was certainly a trying time while Hurricane Irma made her way through our beloved little town of Ft Pierce! You truly handled everything with the highest degree of professionalism, and we thank you for that.”

EXPERTISE & QUALIFICATIONS I have lived in St. Lucie County since 1960. I grew up on South Hutchinson Island, so I am a true “South Beach” girl. I love the beach life ~ and so will you!!! I am a Top Producer Year after Year ~ Whether Buying or Selling, I am always at your service ~ Let me put my trusted 17 years of experience and knowledge to work for you! I measure my success one family at a time.

EXPERTISE

EXPERTISE REAL ESTATE AGENT SINCE 2001

MY EXPERIENCE: • Specializing in Waterfront, Luxury, Residential and Single Family Homes in St. Lucie County with a focus on Hutchinson Island • Ocean Village Specialist for Single Family Homes and condominium sales • Multi-Million Top Producer Year after Year since 2001 • Member of St. Lucie County MLS, Beaches MLS and Regional MLS • Member of Florida Association of Realtor, National Association of Realtors, Women’s Council of Realtors and the St. Lucie Network • Skilled negotiator and experienced at representing both buyers and sellers • Relocation Specialist • Smart Home Certified Agent • Marketing Specialist for Real Estate Sales experienced in positioning Your property for quick sale using List Hub and Web Partners

MY PROMISE TO YOU I am here to look out for your best interest and help you make good decisions. My job is not just to get your house sold, but to create a successful sale; to get you to the closing table on time, with the fewest amount of problems and with the most money in your pocket.

In summary, my job responsibilities are to first share how to enhance your home, how to package it for profit and how to determine the best asking price. Second, to give your home total market exposure, create more demand, get more offers, make sure buyers are serious and qualified and make sure the transaction is worry free. Coldwell Banker Paradise is a full-service company based on integrity and putting you first. As your trusted advisor I am always looking out for your best interest.

N. Hutchinson Island Condos Call Cheryl Brush, Hutchinson Island Expert 772-359-7706

TIARA TOWERS 5th Floor| 5 BR, 4 BA | Offered at $975,000

GRAND ISLE 10th Floor| 4 BR, 3.5 BA | Offered at $959,000

ALTAMIRA 6th Floor | 3 BR, 2.5 BA | Offered at $839,000 3rd Floor| 3 BR, 2.5 BA | Offered at $775,000

ATRIUM ON THE OCEAN & ATRIUM II 8th Floor| 3 BR, 2.5 BA | Offered at $695,000 8th Floor | 3 BR, 2.5 BA | Offered at $600,000

PARAGON 7th Floor| 3 BR, 3 BA | Offered at $681,000

OCEANIQUE 2nd Floor | 3 BR, 2.5 BA | Offered at $575,000 3rd Floor | 3 BR, 2.5 BA | Offered at $565,000

Waterfront Homes

Looking for your “Florida Dream Home?” Look no further!

Call Cheryl Brush at 772-359-7706 to see one of these Prime Properties

8053 S. Indian River Drive, Ft. Pierce 6 Bedrooms, 5 full bath, 1 half bath, 5,766 sf 5 Car Garage - Offered at $2,600,000 RX-10355711

101 S. Colorado Avenue, Stuart 2 Bedrooms, 1 full bath, 2 car garage, 1,183 sf Old Florida Charm - Offered at $1,250,000 RX-10390942

2021 S. Indian River Drive, Ft. Pierce 3 Bedrooms, 2 full baths, 1 half bath 3 Garage spaces - Offered at $890,000 RX-10316587

2805 S. Indian River Drive, Ft. Pierce 4 Bedrooms, 3 full baths, 1 half bath, 2 car gar Magnificent views! Offered at $699,900 RX-10375099

2001 Mimosa Avenue, Ft. Pierce 5 Bedrooms, 4 full baths, 2 car garage, 3,878 sf Surfside - Offered at $699,000 RX-10389534

1101 Granada St, S. Hutchinson Island 5 Bedrooms, 3 full baths, 2,460 sq ft Tropical Island Retreat - Offered at $699,000 RX-103983395