On North Hutchinson Island 2008 sales increased in both homes sold and condos sold compared to 2007. However, the median sales price went down dramatically.
There were 6 single family homes sold in 2008 at a median price of $400,000 compared to 3 sold in 2007 with a median of $708,000 (down 77%).
There were 54 condos sold at a median price of $285,000 compared to 37 sold in 2007 at a median of $352,000 (down 23%).
North Hutchinson Island sales were again very slow at 5 properties for the month, which was just a little higher than November and the same as December 2007. Time on the market averaged 15.4 months, and sale prices were 22% lower than original list price. Prices ranged from a low of $131,500 for a first floor condo in Ocean Harbour North to a high of $305,000 on the 3rd floor back building with a decent ocean view. Also selling were the 4th floor of Hibiscus Bldg 1 for $244,900 and $295,000 on the 14th floor in Seaward. The 5th sale was a townhouse in Harbour Cove for $320,000. This was also a bargain price considering a boat slip was included in the sale.
The following sales graph compares month-by-month sales for the past 5 years.
