The “happy days” lasted just one month on North Hutchinson Island. July sales brought us back to reality with only 8 sales, only half of June sales. However, not all the news is bad because sales were higher than July 2009 and was still the best July sales month since 2004. Sale prices were still low compared to previous years. The high condo sale was # 702 in Altamira for $600,000, and the low condo sale was #705 in Ocean Harbour Tower for $275,000. Unit # 802 in Grand Isle sold for $380,000. The previous sale of this same unit was for $474,000 in June of 2006.
Three of the 8 sales last month were houses. A lake nice riverfront home in Riverpoint at the Sands for $320,000, a bank owned canal front home on Bermuda Beach for $321,000 and a bank owned home in Riverwalk at the Sands for $150,000.
There are currently 188 homes for sale on NHI, but showing activity and office traffic is still high in our Hutchinson island office, so August sales should be stronger.
2010 August NHI Sales