Hutchinson Island 2018 1st Quarter Real Estate Market Report
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.