Sales on N Hutchinson Island declined 45% over the previous month and were down 29% from April 2009. Prices were down also. The only 5 sales were as follows.
· Sea Palms, 1 BR, 3rd floor———————————-$128,222
· Bryn Mawr Riverside 2 BR, 6th floor corner ———-$170,000
· Ocean Harbour South, 2BR 6th floor ——————-$180,000
· Atlantic View, 2BR 15th floor——————————-$229,000
· Atrium I, 3 BR, 2nd floor————————————-$385,000
Second home and vacation home buyers do not appear to have confidence that their financial condition will improve in the near future. More people are putting off retirement. Fewer people are retiring early. Also, loans on condos are available but are difficult because of bank requirements that the condos meet their standards for dues delinquency, primary home designation, mortgage delinquency, and other specifications. With 220 units for sale, there is now a 44 month supply of condos for sale on N Hutchinson Island at this time.
