North Hutchinson Island FL real estate sales were up 44% from last month and up 62% from August 2010. Year-to-date sales have increased by 47% over last year. Inventory of units listed for sale decreased 10 units from 205 to 195, a 15.8 month supply. This inventory does not include the approximately 85 units for sale in a new luxury condo development on the island that are not listed on any Multiple Listing System. Sale prices ranged from $430,000 for a 3 bedroom 2164 sqft unit on the 7th floor in the Atrium to a 1st floor unit in Ocean Harbour North for $77,500. There were 2 sales in Tiara including a 14th floor center unit for $283,000. Two houses sold, a 1966 sq ft home with 36 ft on the water in Queens Cove sold for $251,277, and a 2264 sqft no waterfront house on Bimini for $205,000. Three of the sales were bank owned properties and 59% of the sales year-to-date were sold for cash. Traffic through the office and at open houses was slow in August, which is an indicator that sales will not pick up significantly on North Hutchinson Island in the coming months.
