Hank Wolff Presents Hutchinson Island November 2023 Market Report

This is your newest market report for Hutchinson Island! This report covers the 34949 zip code and compares November of this year to November of 2022. The median sale price is $430,000 which is a 12% decrease from last year. The total number of closings was 38 which is basically the same as last year.

Here is a quick note on inventory. To start December there are over 300 active listings which amounts to an 11 month inventory. Anything over 6 month is considered a buyer’s market. This means buyers will have plenty of options to choose from. Over the past year we are seeing on average 27 closings per months and 20 listings that expire or are taken off the market. That means generally for each new listing that comes on the market the likelihood of a sale is about 60% and the odds of not selling 40%. Sellers will need great representation and deliver good value in order to sell.

Thank you for watching this report, I will keep watching the market.