THE STATE
Our international reach finds home buyers.
of the Palmetto Dunes Real Estate Market
5
May 2017
Continents
37
KEY METRICS
Countries
April 2017 in Review
700+
Shops
Palmetto Dunes’ first four months of 2017 sales are comparable to last year: 13 homes closed this year and 13 homes closed last year. The first four months’ total dollar volume of homes sold in 2017 was $19,252,500, up from $17,814,400 in 2016. Supply and demand: there are currently 65 homes listed for sale with an average of 3.25 homes selling per month over the past four months. That translates into a 20-month supply, considered by industry experts to be a buyers market. As of January 16, 2017, there were two homes pending/under contract. In the lot realm, five lots closed this year as compared to only two sales in the first four months of 2016. Additionally, there is one lot pending/under contract and 13 lots marketed for sale.
8,500
+
Advisors
How’s the Hilton Head Island - Bluffton Real Estate Market?
International buyers have invested more than $92 billion in U.S. homes (Source: 2014 Profile of International Home Buying Activity). Today’s real estate professionals need to demonstrate international expertise and have the proven ability to promote their properties to buyers worldwide. Engel & Völkers is a revolutionary global brand with more than 700 brokerages and 8,500 advisors in highly desirable markets including the United States, Canada and Europe.
A global real estate network with buyer referrals from national and international markets such as Atlanta, New York Metro Area, Canada and Europe.
Industry-leading technology tools that reach home buyers and sellers online where 92% of people begin their home search.
The Hilton Head Island-Bluffton housing market continues to be on fire, setting the all-time record for the first four months of any year in the history of our area according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, home sales in 2005 set a new first four months’ record of 795 homes sold. In the first four months of 2017 though, 937 homes were sold. In other positive news, home values in just the first four months of 2017 were up 3.4% over 2016 prices, but still 23% below the peak set in 2005. If the record-setting pace of sales continues, we could see an annual appreciation rate in the neighborhood of 10%, meaning that a $500,000 home a year from now could sell for $550,000. With today’s historically low interest rates and prices still way below the peak, it is an extraordinary time to purchase real estate in our area. All MLS Palmetto Dunes
Historical Median Sales Price Rolling 12-Month Calculation
Source: National Association of Realtors
At Engel & Völkers Hilton Head Island - Bluffton, we are committed to bringing that same revolutionary approach to the Palmetto Dunes real estate market. Our goal is to provide unrivaled service in the residential real estate market as we bring qualified buyers from around the world to unique properties throughout the Lowcountry. Only the most dedicated and professional advisors, with an exclusive clientele built from years of experience, are a part of our brand. By combining the local market expertise of our seasoned team with an exceptional global network, we are able to find buyers for our deserving clients. We believe that discretion is the cornerstone of any trustworthy relationship and that protecting the interests of our clients is a point of honor. At Engel & Völkers, we firmly count on innovation, co-operation, professionalism and reliability to drive success. Our culture of expertise and passion is shared through our proprietary technology which leverages the full power of our network for the clients we serve. In this way, we are truly connected. Let us make the right connections for you. We look forward to working with you closely to examine your real estate goals before developing a strategy to obtain them. Please contact us to schedule a brief introductory meeting and complimentary home valuation.
Inventory of Homes For Sale COMMUNITY The Clarke Team is your Palmetto Dunes Specialist. We live here, we sell homes here and we bring our buyers here, to the Island’s best kept secret. SPECIALIST We currently have two clients wishing for a home in Palmetto Dunes with one potential neighbor looking for a home between $800,000 - $1,200,000 with view on the 11 mile lagoon and as close to the beach as possible. The second is looking for a home with 3 bedrooms/bonus room (they have three children) between $750,000 and $950,000. If you, or anyone you know, is thinking of selling their home, please give us a call. We have a buyer for you!
Number of Closed Home Sales
100
20
80
16
60
12
40
8
20
4
Total Value of Homes Closed $20,000,000
$15,000,000
For an instant home evaluation please go to www.hiltonheadhomevalues.com or contact us at 843-290-5828.
$10,000,000 PRSRT STD US POSTAGE PAID Permit 73
Larry and Karen Clarke, Clarke Team Real Estate Advisors Engel & Völkers Hilton Head Island - Bluffton Telephone • 843-290-5828 Email • clarketeam@evusa.com Website • www.clarketeam.evusa.com ©2017 Engel & Völkers. All rights reserved. Each brokerage is independently owned and operated. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.
$5,000,000
Hilton Head Is., SC
74
0
On 04/30/16
65
On 04/30/17
13
0
1st Four Months of 2016
13
1st Four Months of 2017
0
$17,813,400
$19,252,500
1st Four Months of 2016
1st Four Months of 2017
This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2017 through May 10, 2017. HHIMLS does not guarantee and is not in any way responsible for its accuracy. Data provided by HHIMLS may not reflect all real estate activity in the market.
Palmetto Dunes Home Listings STATUS SUB-AREA Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Inverness Side Inverness Side Inverness Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side
ADDRESS
VIEW
8 & 6 & 4 Galleon 9 Highrigger 12 Brigantine 9 Catboat 9 Junket 17 Armada Street 11 Dinghy 10 Highrigger 11 Catboat 19 Armada Street 6 Armada 5 Junket 162 Mooring Buoy 164 Mooring Buoy 176 Mooring Buoy 4 Ketch 3 Junket 4 Haul Away 3 Galleon 54 Mooring Buoy 6 Iron Clad 1 Night Harbour 1 Eastwind 3 Flotilla 14 Port Tack 6 Flotilla 9 High Water 44 Sea Lane 48 Sea Lane 6 Dinghy 29 Port Tack 4 Catboat 167 Mooring Buoy 2 Lee Shore 1 Armada Street 136 Mooring Buoy 19 Port Tack 2 Rum Row 5 Hunt Club Court 34 Sea Lane 7 Slack Tide 15 Promontory Court 42 Mooring Buoy 122 Mooring Buoy 39 Full Sweep 44 Mooring Buoy 4 Ginger Beer Court 18 Full Sweep 142 Mooring Buoy 13 Sea Lane 5 Cockle Court 40 Starboard Tack 8 Cottage Court 22 Heath Drive 14 Promontory Court 1 Cockle Court 7 Ginger Beer Court 5 Midstream 11 Saint George Road 3 Full Sweep 5 Off Shore 35 Full Sweep 22 Promontory Court 8 Saint George Road 19 Cartgate Drive 4 Brigantine 3 Lookout 46 Haul Away 6 Topside 84 Port Tack 12 Armada Street 8 Flotilla 9 Iron Clad 159 Mooring Buoy 179 Mooring Buoy 5 Burns Court 50 Haul Away 6 Flagg Road 53 Full Sweep 3 Burns Court 8 Swing About 12 Promontory Court 56 Full Sweep
Ocean, Tennis Court Ocean Ocean Ocean Ocean Ocean Ocean Ocean Ocean Ocean Landscape, Wooded Ocean Ocean, Wooded Landscape, Pool Golf, Lagoon Ocean Wooded Lagoon Ocean, Wooded Landscape Ocean, Pool Golf, Pool Landscape Landscape Golf, Lagoon Landscape, Pool Lagoon Lagoon Lagoon Landscape, Wooded Lagoon Landscape, Pool Lagoon, Pool Wooded Wooded Pool, Wooded Golf Lagoon, Pool Landscape, Pool Lagoon Golf, Lagoon Golf, Lagoon Landscape, Pool Landscape Lagoon, Lake Landscape Landscape, Pool Golf, Lagoon Golf Lagoon Lagoon Lagoon, Pool Golf, Pool Pool, Wooded Landscape, Pool Golf Lagoon, Pool Lagoon, River Lake, Pool Lagoon Lake Pool, Wooded Golf Wooded Ocean Golf, Lagoon Lagoon, Pool Lake Lagoon, Pool Ocean Ocean Ocean Lagoon, Pool Lagoon Golf Lagoon Landscape, Pool Lake Landscape, Pool Golf, Pool Landscape, Wooded Golf
TOTAL YEAR APPROX. FULL BATHS HALF BATHS BEDROOMS BUILT SQ. FOOTAGE 10 10 1 1978 9,514 5 6 0 1999 4,633 6 5 1 1981 5,600 5 5 3 2004 5,500 5 5 2 1994 4,956 5 5 0 1992 4,916 6 6 1 1989 4,560 5 5 1 1995 4,992 4 4 1 1971 5,342 4 4 1 1987 3,842 6 6 1 2016 4,431 6 6 1 1984 5,112 5 4 2 1990 4,844 5 5 2 1979 3,680 5 6 2 1980 4,561 6 6 1 1992 4,022 5 5 1 1992 4,591 5 4 1 2002 6,064 5 5 1 1993 5,701 5 4 1 2013 3,624 6 6 1 1998 4,320 6 6 1 1981 3,487 5 4 1 1984 3,038 5 5 0 1981 3,966 4 3 1 1982 3,173 5 4 1 1990 3,292 7 7 2 1987 4,604 4 3 1 1984 2,680 6 4 0 1988 5,087 4 4 1 1983 2,710 6 5 1 2006 5,802 5 5 0 1989 4,012 5 4 0 1992 2,923 5 5 0 1994 3,005 3 3 0 1979 2,477 3 3 0 1981 2,505 4 3 1 1972 3,239 5 4 0 1975 3,916 5 5 0 1999 3,870 5 3 1 1976 2,768 4 3 1 2003 3,263 4 4 0 1982 2,506 4 4 0 1979 2,361 4 4 0 1970 2,648 4 4 1 2003 3,411 5 4 0 1979 2,600 5 4 2 2000 3,968 3 3 0 1979 2,515 3 4 0 1975 2,100 4 3 1 1993 3,062 3 3 1 1994 2,842 4 4 0 1974 3,840 5 4 0 1994 2,542 4 4 0 1981 2,500 3 3 1 1999 2,538 6 5 0 1981 2,846 3 3 0 1983 2,407 3 3 0 1981 2,064 4 4 1 1983 3,435 4 4 1 1988 3,160 3 2 1 1990 2,521 4 4 0 1987 2,543 3 2 1 1994 2,873 3 2 0 1976 1,820 3 3 0 1995 1,956 6 6 2 2001 4,976 7 6 1 2006 5,179 4 3 0 1999 2,818 3 3 0 1989 2,452 4 3 2 1973 3,648 5 5 2 2016 4,638 6 6 1 2002 5,885 6 6 2 1980 5,335 5 4 1 2016 4,144 7 6 1 1998 5,158 4 4 1 1992 3,236 4 4 1 1989 3,409 4 4 1 1998 2,749 4 3 1 1974 2,497 5 4 1 1998 2,894 3 2 0 2000 2,111 3 3 0 1985 2,330 3 2 0 1982 1,958
Palmetto Dunes Lot Listings LIST PRICE CLOSE PRICE $6,950,000 $4,895,000 $4,695,000 $4,299,000 $4,150,000 $3,995,000 $3,899,000 $3,795,000 $3,300,000 $3,250,000 $2,795,000 $1,999,000 $1,995,000 $1,995,000 $1,895,000 $1,795,000 $1,695,000 $1,695,000 $1,695,000 $1,665,000 $1,650,000 $1,503,000 $1,495,000 $1,495,000 $1,490,000 $1,439,000 $1,399,000 $1,395,000 $1,395,000 $1,395,000 $1,295,000 $1,295,000 $1,295,000 $1,275,000 $1,175,000 $1,175,000 $1,150,000 $999,000 $995,000 $995,000 $995,000 $975,000 $969,900 $949,500 $919,000 $899,500 $899,000 $899,000 $895,000 $849,500 $849,000 $825,000 $799,900 $779,000 $769,000 $759,000 $749,000 $739,000 $729,000 $714,000 $699,000 $689,000 $649,900 $629,000 $599,000 $1,795,000 $1,199,900 $995,000 $649,000 $399,000 $4,500,000 $3,995,000 $2,995,000 $1,995,000 $1,399,000 $1,075,000 $905,000 $749,000 $679,000 $665,000 $649,000 $489,000 $429,000
--------------------------------------------------------------------------------------------------------------------------------------------$4,235,000 $3,850,000 $2,750,000 $1,845,000 $1,250,000 $970,000 $885,000 $727,500 $660,000 $610,000 $605,000 $440,000 $425,000
APPROX. LOT SIZE (ACRES) Active Mariners Side 15 Brigantine Ocean 0.3626 Active Mariners Side 6 Night Harbour Ocean 0.3111 Active Mariners Side 4 Flotilla Ocean 0.3434 Active Mariners Side 3 Long Boat Ocean 0.3902 Active Mariners Side 126 Mooring Buoy Wooded 0.3557 Active Mariners Side 38 Sea Lane Lagoon 0.5281 Active Inverness Side 6 Strath Court Lagoon 0.2634 Active Mariners Side 5 Rum Row Golf 0.4585 Active Inverness Side 2 Promontory Court Landscape, Wooded 0.5782 Active Inverness Side 1 Promontory Court Golf 0.5921 Active Mariners Side 86 Port Tack Lagoon, Lake 0.542 Active Mariners Side 48 Off Shore Golf 0.4568 Active Inverness Side 16 Cartgate Drive Wooded 0.2783 Pending Mariners Side 20 Starboard Tack Lagoon 0.4921 Sold Mariners Side 6 Brigantine Landscape 0.3454 Sold Mariners Side 5 Cat Boat Wooded 0.3915 Sold Mariners Side 3 Port Tack Lagoon 0.51 Sold Mariners Side 13 Full Sweep Lake 0.4277 Sold Mariners Side 40 Swing About Golf, Landscape 0.5036
STATUS SUB-AREA
ADDRESS
VIEW
LIST PRICE CLOSE PRICE $3,769,000 $2,999,000 $1,599,000 $950,000 $775,000 $699,000 $499,000 $289,000 $279,000 $275,000 $269,000 $249,900 $249,900 $379,000 $807,000 $790,000 $550,000 $250,000 $225,000
----------------------------$807,000 $790,000 $550,000 $250,000 $225,000
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2017 and April 30, 2017
Urgency! Home Buyers and Sellers, Now’s The Perfect Time to Get Low Interest Rates
KEY TRENDS
Source: Freddie Mac, May 2017
30 YEAR FIXED RATE MORTGAGES FROM FREDDIE MAC As you can see from the 30 Year Fixed Rate Mortgages graph, mortgage rates have taken a dip here recently. Wow, what a privilege to get a 30 year fixed rate mortgage at 4.02%! However, it’s the second graphic, the Mortgage Rate Projections chart, which puts the “fear of throwing money away” into our hearts. Waiting a year to buy a $500,000 house could, according to this chart, cost a home buyer about $2000 extra interest per year on an 80% mortgage. That feels like “throwing money away” to us. At Engel & Völkers these two charts say to us that with these historic interest rates so low, now is an excellent time to either sell or buy whether that’s here in the Hilton Head Island-Bluffton area or in another part of the country. If you as a seller or buyer do want to take advantage of these interest rates, please call your Engel & Völkers Advisor today and they will provide you with expert advice on the wisest course of action for you.
Freddie Mac, 05/2017
MORTGAGE RATE PROJECTIONS QUARTER
FANNIE MAE
MORTGAGE BANKERS ASSOCIATION
NATIONAL ASSOCIATION OF REALTORS
AVERAGE OF ALL THREE
2017 3Q
4.2%
4.4%
4.3%
4.30%
2017 4Q
4.3%
4.6%
4.5%
4.47%
2018 1Q
4.3%
4.7%
4.7%
4.57%
2018 2Q
4.3%
4.9%
4.9%
4.70%
Palmetto Dunes Home Listings STATUS SUB-AREA Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Inverness Side Inverness Side Inverness Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side
ADDRESS
VIEW
8 & 6 & 4 Galleon 9 Highrigger 12 Brigantine 9 Catboat 9 Junket 17 Armada Street 11 Dinghy 10 Highrigger 11 Catboat 19 Armada Street 6 Armada 5 Junket 162 Mooring Buoy 164 Mooring Buoy 176 Mooring Buoy 4 Ketch 3 Junket 4 Haul Away 3 Galleon 54 Mooring Buoy 6 Iron Clad 1 Night Harbour 1 Eastwind 3 Flotilla 14 Port Tack 6 Flotilla 9 High Water 44 Sea Lane 48 Sea Lane 6 Dinghy 29 Port Tack 4 Catboat 167 Mooring Buoy 2 Lee Shore 1 Armada Street 136 Mooring Buoy 19 Port Tack 2 Rum Row 5 Hunt Club Court 34 Sea Lane 7 Slack Tide 15 Promontory Court 42 Mooring Buoy 122 Mooring Buoy 39 Full Sweep 44 Mooring Buoy 4 Ginger Beer Court 18 Full Sweep 142 Mooring Buoy 13 Sea Lane 5 Cockle Court 40 Starboard Tack 8 Cottage Court 22 Heath Drive 14 Promontory Court 1 Cockle Court 7 Ginger Beer Court 5 Midstream 11 Saint George Road 3 Full Sweep 5 Off Shore 35 Full Sweep 22 Promontory Court 8 Saint George Road 19 Cartgate Drive 4 Brigantine 3 Lookout 46 Haul Away 6 Topside 84 Port Tack 12 Armada Street 8 Flotilla 9 Iron Clad 159 Mooring Buoy 179 Mooring Buoy 5 Burns Court 50 Haul Away 6 Flagg Road 53 Full Sweep 3 Burns Court 8 Swing About 12 Promontory Court 56 Full Sweep
Ocean, Tennis Court Ocean Ocean Ocean Ocean Ocean Ocean Ocean Ocean Ocean Landscape, Wooded Ocean Ocean, Wooded Landscape, Pool Golf, Lagoon Ocean Wooded Lagoon Ocean, Wooded Landscape Ocean, Pool Golf, Pool Landscape Landscape Golf, Lagoon Landscape, Pool Lagoon Lagoon Lagoon Landscape, Wooded Lagoon Landscape, Pool Lagoon, Pool Wooded Wooded Pool, Wooded Golf Lagoon, Pool Landscape, Pool Lagoon Golf, Lagoon Golf, Lagoon Landscape, Pool Landscape Lagoon, Lake Landscape Landscape, Pool Golf, Lagoon Golf Lagoon Lagoon Lagoon, Pool Golf, Pool Pool, Wooded Landscape, Pool Golf Lagoon, Pool Lagoon, River Lake, Pool Lagoon Lake Pool, Wooded Golf Wooded Ocean Golf, Lagoon Lagoon, Pool Lake Lagoon, Pool Ocean Ocean Ocean Lagoon, Pool Lagoon Golf Lagoon Landscape, Pool Lake Landscape, Pool Golf, Pool Landscape, Wooded Golf
TOTAL YEAR APPROX. FULL BATHS HALF BATHS BEDROOMS BUILT SQ. FOOTAGE 10 10 1 1978 9,514 5 6 0 1999 4,633 6 5 1 1981 5,600 5 5 3 2004 5,500 5 5 2 1994 4,956 5 5 0 1992 4,916 6 6 1 1989 4,560 5 5 1 1995 4,992 4 4 1 1971 5,342 4 4 1 1987 3,842 6 6 1 2016 4,431 6 6 1 1984 5,112 5 4 2 1990 4,844 5 5 2 1979 3,680 5 6 2 1980 4,561 6 6 1 1992 4,022 5 5 1 1992 4,591 5 4 1 2002 6,064 5 5 1 1993 5,701 5 4 1 2013 3,624 6 6 1 1998 4,320 6 6 1 1981 3,487 5 4 1 1984 3,038 5 5 0 1981 3,966 4 3 1 1982 3,173 5 4 1 1990 3,292 7 7 2 1987 4,604 4 3 1 1984 2,680 6 4 0 1988 5,087 4 4 1 1983 2,710 6 5 1 2006 5,802 5 5 0 1989 4,012 5 4 0 1992 2,923 5 5 0 1994 3,005 3 3 0 1979 2,477 3 3 0 1981 2,505 4 3 1 1972 3,239 5 4 0 1975 3,916 5 5 0 1999 3,870 5 3 1 1976 2,768 4 3 1 2003 3,263 4 4 0 1982 2,506 4 4 0 1979 2,361 4 4 0 1970 2,648 4 4 1 2003 3,411 5 4 0 1979 2,600 5 4 2 2000 3,968 3 3 0 1979 2,515 3 4 0 1975 2,100 4 3 1 1993 3,062 3 3 1 1994 2,842 4 4 0 1974 3,840 5 4 0 1994 2,542 4 4 0 1981 2,500 3 3 1 1999 2,538 6 5 0 1981 2,846 3 3 0 1983 2,407 3 3 0 1981 2,064 4 4 1 1983 3,435 4 4 1 1988 3,160 3 2 1 1990 2,521 4 4 0 1987 2,543 3 2 1 1994 2,873 3 2 0 1976 1,820 3 3 0 1995 1,956 6 6 2 2001 4,976 7 6 1 2006 5,179 4 3 0 1999 2,818 3 3 0 1989 2,452 4 3 2 1973 3,648 5 5 2 2016 4,638 6 6 1 2002 5,885 6 6 2 1980 5,335 5 4 1 2016 4,144 7 6 1 1998 5,158 4 4 1 1992 3,236 4 4 1 1989 3,409 4 4 1 1998 2,749 4 3 1 1974 2,497 5 4 1 1998 2,894 3 2 0 2000 2,111 3 3 0 1985 2,330 3 2 0 1982 1,958
Palmetto Dunes Lot Listings LIST PRICE CLOSE PRICE $6,950,000 $4,895,000 $4,695,000 $4,299,000 $4,150,000 $3,995,000 $3,899,000 $3,795,000 $3,300,000 $3,250,000 $2,795,000 $1,999,000 $1,995,000 $1,995,000 $1,895,000 $1,795,000 $1,695,000 $1,695,000 $1,695,000 $1,665,000 $1,650,000 $1,503,000 $1,495,000 $1,495,000 $1,490,000 $1,439,000 $1,399,000 $1,395,000 $1,395,000 $1,395,000 $1,295,000 $1,295,000 $1,295,000 $1,275,000 $1,175,000 $1,175,000 $1,150,000 $999,000 $995,000 $995,000 $995,000 $975,000 $969,900 $949,500 $919,000 $899,500 $899,000 $899,000 $895,000 $849,500 $849,000 $825,000 $799,900 $779,000 $769,000 $759,000 $749,000 $739,000 $729,000 $714,000 $699,000 $689,000 $649,900 $629,000 $599,000 $1,795,000 $1,199,900 $995,000 $649,000 $399,000 $4,500,000 $3,995,000 $2,995,000 $1,995,000 $1,399,000 $1,075,000 $905,000 $749,000 $679,000 $665,000 $649,000 $489,000 $429,000
--------------------------------------------------------------------------------------------------------------------------------------------$4,235,000 $3,850,000 $2,750,000 $1,845,000 $1,250,000 $970,000 $885,000 $727,500 $660,000 $610,000 $605,000 $440,000 $425,000
APPROX. LOT SIZE (ACRES) Active Mariners Side 15 Brigantine Ocean 0.3626 Active Mariners Side 6 Night Harbour Ocean 0.3111 Active Mariners Side 4 Flotilla Ocean 0.3434 Active Mariners Side 3 Long Boat Ocean 0.3902 Active Mariners Side 126 Mooring Buoy Wooded 0.3557 Active Mariners Side 38 Sea Lane Lagoon 0.5281 Active Inverness Side 6 Strath Court Lagoon 0.2634 Active Mariners Side 5 Rum Row Golf 0.4585 Active Inverness Side 2 Promontory Court Landscape, Wooded 0.5782 Active Inverness Side 1 Promontory Court Golf 0.5921 Active Mariners Side 86 Port Tack Lagoon, Lake 0.542 Active Mariners Side 48 Off Shore Golf 0.4568 Active Inverness Side 16 Cartgate Drive Wooded 0.2783 Pending Mariners Side 20 Starboard Tack Lagoon 0.4921 Sold Mariners Side 6 Brigantine Landscape 0.3454 Sold Mariners Side 5 Cat Boat Wooded 0.3915 Sold Mariners Side 3 Port Tack Lagoon 0.51 Sold Mariners Side 13 Full Sweep Lake 0.4277 Sold Mariners Side 40 Swing About Golf, Landscape 0.5036
STATUS SUB-AREA
ADDRESS
VIEW
LIST PRICE CLOSE PRICE $3,769,000 $2,999,000 $1,599,000 $950,000 $775,000 $699,000 $499,000 $289,000 $279,000 $275,000 $269,000 $249,900 $249,900 $379,000 $807,000 $790,000 $550,000 $250,000 $225,000
----------------------------$807,000 $790,000 $550,000 $250,000 $225,000
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2017 and April 30, 2017
Urgency! Home Buyers and Sellers, Now’s The Perfect Time to Get Low Interest Rates
KEY TRENDS
Source: Freddie Mac, May 2017
30 YEAR FIXED RATE MORTGAGES FROM FREDDIE MAC As you can see from the 30 Year Fixed Rate Mortgages graph, mortgage rates have taken a dip here recently. Wow, what a privilege to get a 30 year fixed rate mortgage at 4.02%! However, it’s the second graphic, the Mortgage Rate Projections chart, which puts the “fear of throwing money away” into our hearts. Waiting a year to buy a $500,000 house could, according to this chart, cost a home buyer about $2000 extra interest per year on an 80% mortgage. That feels like “throwing money away” to us. At Engel & Völkers these two charts say to us that with these historic interest rates so low, now is an excellent time to either sell or buy whether that’s here in the Hilton Head Island-Bluffton area or in another part of the country. If you as a seller or buyer do want to take advantage of these interest rates, please call your Engel & Völkers Advisor today and they will provide you with expert advice on the wisest course of action for you.
Freddie Mac, 05/2017
MORTGAGE RATE PROJECTIONS QUARTER
FANNIE MAE
MORTGAGE BANKERS ASSOCIATION
NATIONAL ASSOCIATION OF REALTORS
AVERAGE OF ALL THREE
2017 3Q
4.2%
4.4%
4.3%
4.30%
2017 4Q
4.3%
4.6%
4.5%
4.47%
2018 1Q
4.3%
4.7%
4.7%
4.57%
2018 2Q
4.3%
4.9%
4.9%
4.70%
THE STATE
Our international reach finds home buyers.
of the Palmetto Dunes Real Estate Market
5
May 2017
Continents
37
KEY METRICS
Countries
April 2017 in Review
700+
Shops
Palmetto Dunes’ first four months of 2017 sales are comparable to last year: 13 homes closed this year and 13 homes closed last year. The first four months’ total dollar volume of homes sold in 2017 was $19,252,500, up from $17,814,400 in 2016. Supply and demand: there are currently 65 homes listed for sale with an average of 3.25 homes selling per month over the past four months. That translates into a 20-month supply, considered by industry experts to be a buyers market. As of January 16, 2017, there were two homes pending/under contract. In the lot realm, five lots closed this year as compared to only two sales in the first four months of 2016. Additionally, there is one lot pending/under contract and 13 lots marketed for sale.
8,500
+
Advisors
How’s the Hilton Head Island - Bluffton Real Estate Market?
International buyers have invested more than $92 billion in U.S. homes (Source: 2014 Profile of International Home Buying Activity). Today’s real estate professionals need to demonstrate international expertise and have the proven ability to promote their properties to buyers worldwide. Engel & Völkers is a revolutionary global brand with more than 700 brokerages and 8,500 advisors in highly desirable markets including the United States, Canada and Europe.
A global real estate network with buyer referrals from national and international markets such as Atlanta, New York Metro Area, Canada and Europe.
Industry-leading technology tools that reach home buyers and sellers online where 92% of people begin their home search.
The Hilton Head Island-Bluffton housing market continues to be on fire, setting the all-time record for the first four months of any year in the history of our area according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, home sales in 2005 set a new first four months’ record of 795 homes sold. In the first four months of 2017 though, 937 homes were sold. In other positive news, home values in just the first four months of 2017 were up 3.4% over 2016 prices, but still 23% below the peak set in 2005. If the record-setting pace of sales continues, we could see an annual appreciation rate in the neighborhood of 10%, meaning that a $500,000 home a year from now could sell for $550,000. With today’s historically low interest rates and prices still way below the peak, it is an extraordinary time to purchase real estate in our area. All MLS Palmetto Dunes
Historical Median Sales Price Rolling 12-Month Calculation
Source: National Association of Realtors
At Engel & Völkers Hilton Head Island - Bluffton, we are committed to bringing that same revolutionary approach to the Palmetto Dunes real estate market. Our goal is to provide unrivaled service in the residential real estate market as we bring qualified buyers from around the world to unique properties throughout the Lowcountry. Only the most dedicated and professional advisors, with an exclusive clientele built from years of experience, are a part of our brand. By combining the local market expertise of our seasoned team with an exceptional global network, we are able to find buyers for our deserving clients. We believe that discretion is the cornerstone of any trustworthy relationship and that protecting the interests of our clients is a point of honor. At Engel & Völkers, we firmly count on innovation, co-operation, professionalism and reliability to drive success. Our culture of expertise and passion is shared through our proprietary technology which leverages the full power of our network for the clients we serve. In this way, we are truly connected. Let us make the right connections for you. We look forward to working with you closely to examine your real estate goals before developing a strategy to obtain them. Please contact us to schedule a brief introductory meeting and complimentary home valuation.
Inventory of Homes For Sale COMMUNITY The Clarke Team is your Palmetto Dunes Specialist. We live here, we sell homes here and we bring our buyers here, to the Island’s best kept secret. SPECIALIST We currently have two clients wishing for a home in Palmetto Dunes with one potential neighbor looking for a home between $800,000 - $1,200,000 with view on the 11 mile lagoon and as close to the beach as possible. The second is looking for a home with 3 bedrooms/bonus room (they have three children) between $750,000 and $950,000. If you, or anyone you know, is thinking of selling their home, please give us a call. We have a buyer for you!
Number of Closed Home Sales
100
20
80
16
60
12
40
8
20
4
Total Value of Homes Closed $20,000,000
$15,000,000
For an instant home evaluation please go to www.hiltonheadhomevalues.com or contact us at 843-290-5828.
$10,000,000 PRSRT STD US POSTAGE PAID Permit 73
Larry and Karen Clarke, Clarke Team Real Estate Advisors Engel & Völkers Hilton Head Island - Bluffton Telephone • 843-290-5828 Email • clarketeam@evusa.com Website • www.clarketeam.evusa.com ©2017 Engel & Völkers. All rights reserved. Each brokerage is independently owned and operated. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.
$5,000,000
Hilton Head Is., SC
74
0
On 04/30/16
65
On 04/30/17
13
0
1st Four Months of 2016
13
1st Four Months of 2017
0
$17,813,400
$19,252,500
1st Four Months of 2016
1st Four Months of 2017
This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2017 through May 10, 2017. HHIMLS does not guarantee and is not in any way responsible for its accuracy. Data provided by HHIMLS may not reflect all real estate activity in the market.