There were 13 sales on North Hutchinson Island in September. This was the best October in 8 years and a reason to relax a little after 0 sales in September. Sales increased over October 2010 by more than a 160%. Year-to-date sales have increased by 60% over last year. Inventory of units listed for sale increased from 205 to 216. Again, this inventory does not include the approximately 76 units for sale in a new condo development. November and December look to be above average in sales and there ate 19 properties under contract at this time. Condo sales ran from $129,000 for a 4th floor unit in Ocean Harbour North A to a 3rd floor corner unit in Grand Isle for $475,000 which was a real deal. Two canal front houses sold, a 2 bedroom 1520 sq ft in Coral Cove for $277,500 and a 3 bedroom 2087 sq ft in Queens Cove sold for $287,500. The Mellon Patch, a bed and breakfast, sold for $360,000, which was another real deal! There were 13 sales on North Hutchinson Island in September. This was the best October in 8 years and a reason to relax a little after 0 sales in September. Sales increased over October 2010 by more than a 160%. Year-to-date sales have increased by 60% over last year. Inventory of units listed for sale increased from 205 to 216. Again, this inventory does not include the approximately 76 units for sale in a new condo development. November and December look to be above average in sales and there ate 19 properties under contract at this time. Condo sales ran from $129,000 for a 4th floor unit in Ocean Harbour North A to a 3rd floor corner unit in Grand Isle for $475,000 which was a real deal. Two canal front houses sold, a 2 bedroom 1520 sq ft in Coral Cove for $277,500 and a 3 bedroom 2087 sq ft in Queens Cove sold for $287,500. The Mellon Patch, a bed and breakfast, sold for $360,000, which was another real deal!

There were NO sales on North  Hutchinson Island  in September. However, this is historically the worst month of the year for sales. There has been only one year (2005) out of the last seven, when there were more than 5 sales in the month of September.  Remember that to close in September, the sales contract was probably written in July or August. During these months there is not much tourist traffic and many of the full time residents are not in residence either. 

About half of  home buyers these days are paying cash.   While being able to pay cash is an effective strategy in successful negotiating to buy since a seller will usually accept a cash offer over one with a mortgage contingency, take a closer second look at the long-term financial effects.