Hutchinson Island January Market Report 2023

This report is comparing January of 2023 to January of last year. Median sale price was stable at $482,000 which is a 16% increase from last year. The number of closings was just 9 however compared to 31 last year, that is a 71% drop of activity.

The drop off of closings has been carrying on since spring of last year and is causing inventory to add up without selling. To start February, Hutchinson Island has a 10-month inventory which is very much a buyers’ market. This will give buyer’s plenty of options to choose from this season. It will be interesting to see if the number of closings increases in the coming months of season.

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