THE STATE
Fantastic Properties For Sale In Bluffton, South Carolina
of the Spanish Wells Real Estate Market
May 2017 KEY METRICS
22 Castle Point Road, Bluffton 3 Bedrooms | 4 Bathrooms | 2,400 Htd. SqFt | $1,500,000 The crown jewel of the May River! This cottage is reminiscent of those in Palmetto Bluff, just blocks from Calhoun Street, and boasts the best dock with 16’ deep water at low tide which is to die for! The bright open floor plan has a large gourmet kitchen with a gas range and wine cooler, a screened porch running the width of the home with panoramic views of the May River, and a partially finished guest suite over the 2-car garage. Only two years old, with very gentle summer use, this house is a “perfect 10”!
29 Rose Dhu Drive, Bluffton 4 Bedrooms | 3.5 Bathrooms | 3,584 Htd. SqFt | $899,000 Watch the sunrise from your brand new deep water access dock! Awesome home with 3 acres overlooking the May River and Palmetto Bluff and gorgeous flower gardens. The wonderful chef’s style kitchen with huge island granite counter tops, double oven, gas cook top, and large pantry is fantastic. Additional features include a wood burning stove, cathedral ceilings, palladium windows, beautiful wood floors, eatin-kitchen, and separate dining room. The master suite has a walk-in shower, along with his and her closets.
April 2017 in Review
In Spanish Wells, one home closed in the first four months of 2017, compared to two last year. January through April’s total dollar volume was $1M, down compared to $2.475M in 2016. Supply and demand: as of May 17, 2017, there are 12 Spanish Wells homes on the market with an average of 0.17 homes selling per month over the last six months. That translates into a 70.59-month supply, considered by industry experts to be a very strong buyer’s market; and there are six homes under contract in Spanish Wells. In the lot realm, one lot closed in the first four months of 2017, the same amount in 2016. There are currently no lots under contract. How’s the Hilton Head Island - Bluffton Real Estate Market Doing? 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 Spanish Wells
Historical Median Sales Price Rolling 12-Month Calculation
22 Kirk Bluff Road, Bluffton 4 Bedrooms | 4 Bathrooms | 3,600 Htd. SqFt | $750,000 Enjoy the sunrise and breathtaking sunsets from this high bluff May River home boasting 180-degree panoramic views toward Palmetto Bluff. The fabulous dock has deep water 24/7 which is perfect for boating fun and hanging out on the famous May River Sandbar! New carpet, paint, and a remodeled granite open plan kitchen all complement the master with an area for a home office or private sitting with sweeping views. It’s a quick golf cart drive to charming Old Town Bluffton shops and restaurants.
6797 Browns Bluff Lane, Bluffton Lot | 0.87 Acres | Wooded/Deep Water Views | $400,000 Can’t find the perfect home with a dock on the May River? Build one on this one-of-a-kind May River home site with deep water access! Enjoy Downtown Old Bluffton and bask in the Southern sunlight on your private 30 foot dock in a gated community on May River Road near the intersection of Buckwalter Parkway. Privacy is abundant as there are only four home sites in this community. Live the May River lifestyle without paying $1M for a river front lot. Electricity and water are available on the dock.
Inventory of Homes For Sale
Number of Closed Home Sales
$2,500,000
10
50
Total Value of Homes Closed
9 HOME VALUE CONSULTATION
$2,000,000
8
40
Considering listing your home? Contact me for a complimentary home value consultation and let me show you how we utilize our digital presence and tailored platforms to sell your home for maximum value.
7
$1,500,000
6
30
5 PRSRT STD US POSTAGE PAID Permit 73
Nickey Maxey, Real Estate Advisor Main Shop | 800 Main Street, Hilton Head Island South Island Lounge | 7 New Orleans Road, Hilton Head Island Historic Bluffton Lounge | 6 Promenade Street, Suite 1001, Bluffton
Telephone: 843-247-0001 Email: nickey.maxey@evusa.com Website: www.nickeymaxey.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.
3
14
0
$500,000
2
10
Hilton Head Is., SC
Local Postal Customer
$1,000,000
4
20
On 04/30/16
15
On 04/30/17
1 0
2
1
1 Four Months of 2016
1 Four Months of 2017
st
st
0
$2.475,000
$1,000,000
1st Four Months of 2016
1 Four Months of 2017 st
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.
Spanish Wells Home Listings STATUS
ADDRESS
VIEW
Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Pending Pending Sold
80 Brams Point Road 64 Brams Point Road 2 Widewater Road 54 Brams Point Road 30 Widewater Road 51 Brams Point Road 24 Widewater Road 32 Widewater Road 33 Widewater Road 6 Mcintosh Road 15 Mcintosh Road 13 Brams Point Road 39 Spanish Pointe Drive 38 Spanish Pointe Drive 40 Spanish Pointe Drive 15 Brams Point Road 5 Widewater Road 13 Widewater Road 36 Spanish Pointe Drive
Deep Water, Sound Deep Water Deep Water, River Deep Water, Sound Deep Water Deep Water, River Deep Water Deep Water, Marsh Golf, Lagoon Golf Golf, Lagoon Golf, Lagoon Deep Water, Marsh Deep Water, Marsh Deep Water, Marsh Golf, Lagoon Golf, Lagoon Golf, Landscape Marsh, River
TOTAL YEAR APPROX. FULL BATHS HALF BATHS BEDROOMS BUILT SQ. FOOTAGE 6 6 1 1992 6,288 6 6 2 2016 6,888 9 9 2 1982 7,486 4 4 1 2004 6,671 5 5 1 2000 6,488 5 5 3 2005 7,682 4 4 1 1999 5,992 5 5 2 1988 7,301 4 5 0 1990 3,546 3 3 1 1996 3,642 5 4 1 1995 4,714 3 3 2 1994 5,693 5 5 2 1997 5,400 5 4 3 1997 5,281 4 4 1 1992 3,632 4 4 1 1995 5,000 4 4 0 1986 3,525 5 4 1 1994 3,472 4 4 1 1993 4,298
Urgency! Home Buyers and Sellers, Now’s The Perfect Time to Get Low Interest Rates
LIST PRICE CLOSE PRICE $4,895,000 $4,850,000 $4,700,000 $4,599,000 $3,999,999 $3,200,000 $2,350,000 $1,849,000 $799,000 $734,997 $699,000 $649,000 $1,495,000 $1,795,000 $899,000 $899,000 $895,000 $679,000 $1,050,000
------------------------------------$1,000,000
KEY TRENDS
Source: Freddie Mac, May 2017
30 YEAR FIXED RATE MORTGAGES FROM FREDDIE MAC
Spanish Wells Lot Listings STATUS Active Active Active Active Active Active Sold
ADDRESS 70 Brams Point Road 4 Brams Point Road 1 Brams Point Road 738 Spanish Wells Road 48 Widewater Road 10 Orista Place 8 Orista Place
VIEW LIST PRICE CLOSE PRICE Deep Water $1,695,000 --Deep Water, Sound $1,599,000 --Deep Water $1,400,000 --Deep Water $1,295,000 --Deep Water, River $937,500 --Golf, Wooded $210,000 --Golf $179,900 $170,000
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2017 and April 30, 2017
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%
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.
Spanish Wells Home Listings STATUS
ADDRESS
VIEW
Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Pending Pending Sold
80 Brams Point Road 64 Brams Point Road 2 Widewater Road 54 Brams Point Road 30 Widewater Road 51 Brams Point Road 24 Widewater Road 32 Widewater Road 33 Widewater Road 6 Mcintosh Road 15 Mcintosh Road 13 Brams Point Road 39 Spanish Pointe Drive 38 Spanish Pointe Drive 40 Spanish Pointe Drive 15 Brams Point Road 5 Widewater Road 13 Widewater Road 36 Spanish Pointe Drive
Deep Water, Sound Deep Water Deep Water, River Deep Water, Sound Deep Water Deep Water, River Deep Water Deep Water, Marsh Golf, Lagoon Golf Golf, Lagoon Golf, Lagoon Deep Water, Marsh Deep Water, Marsh Deep Water, Marsh Golf, Lagoon Golf, Lagoon Golf, Landscape Marsh, River
TOTAL YEAR APPROX. FULL BATHS HALF BATHS BEDROOMS BUILT SQ. FOOTAGE 6 6 1 1992 6,288 6 6 2 2016 6,888 9 9 2 1982 7,486 4 4 1 2004 6,671 5 5 1 2000 6,488 5 5 3 2005 7,682 4 4 1 1999 5,992 5 5 2 1988 7,301 4 5 0 1990 3,546 3 3 1 1996 3,642 5 4 1 1995 4,714 3 3 2 1994 5,693 5 5 2 1997 5,400 5 4 3 1997 5,281 4 4 1 1992 3,632 4 4 1 1995 5,000 4 4 0 1986 3,525 5 4 1 1994 3,472 4 4 1 1993 4,298
Urgency! Home Buyers and Sellers, Now’s The Perfect Time to Get Low Interest Rates
LIST PRICE CLOSE PRICE $4,895,000 $4,850,000 $4,700,000 $4,599,000 $3,999,999 $3,200,000 $2,350,000 $1,849,000 $799,000 $734,997 $699,000 $649,000 $1,495,000 $1,795,000 $899,000 $899,000 $895,000 $679,000 $1,050,000
------------------------------------$1,000,000
KEY TRENDS
Source: Freddie Mac, May 2017
30 YEAR FIXED RATE MORTGAGES FROM FREDDIE MAC
Spanish Wells Lot Listings STATUS Active Active Active Active Active Active Sold
ADDRESS 70 Brams Point Road 4 Brams Point Road 1 Brams Point Road 738 Spanish Wells Road 48 Widewater Road 10 Orista Place 8 Orista Place
VIEW LIST PRICE CLOSE PRICE Deep Water $1,695,000 --Deep Water, Sound $1,599,000 --Deep Water $1,400,000 --Deep Water $1,295,000 --Deep Water, River $937,500 --Golf, Wooded $210,000 --Golf $179,900 $170,000
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2017 and April 30, 2017
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%
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.
THE STATE
Fantastic Properties For Sale In Bluffton, South Carolina
of the Spanish Wells Real Estate Market
May 2017 KEY METRICS
22 Castle Point Road, Bluffton 3 Bedrooms | 4 Bathrooms | 2,400 Htd. SqFt | $1,500,000 The crown jewel of the May River! This cottage is reminiscent of those in Palmetto Bluff, just blocks from Calhoun Street, and boasts the best dock with 16’ deep water at low tide which is to die for! The bright open floor plan has a large gourmet kitchen with a gas range and wine cooler, a screened porch running the width of the home with panoramic views of the May River, and a partially finished guest suite over the 2-car garage. Only two years old, with very gentle summer use, this house is a “perfect 10”!
29 Rose Dhu Drive, Bluffton 4 Bedrooms | 3.5 Bathrooms | 3,584 Htd. SqFt | $899,000 Watch the sunrise from your brand new deep water access dock! Awesome home with 3 acres overlooking the May River and Palmetto Bluff and gorgeous flower gardens. The wonderful chef’s style kitchen with huge island granite counter tops, double oven, gas cook top, and large pantry is fantastic. Additional features include a wood burning stove, cathedral ceilings, palladium windows, beautiful wood floors, eatin-kitchen, and separate dining room. The master suite has a walk-in shower, along with his and her closets.
April 2017 in Review
In Spanish Wells, one home closed in the first four months of 2017, compared to two last year. January through April’s total dollar volume was $1M, down compared to $2.475M in 2016. Supply and demand: as of May 17, 2017, there are 12 Spanish Wells homes on the market with an average of 0.17 homes selling per month over the last six months. That translates into a 70.59-month supply, considered by industry experts to be a very strong buyer’s market; and there are six homes under contract in Spanish Wells. In the lot realm, one lot closed in the first four months of 2017, the same amount in 2016. There are currently no lots under contract. How’s the Hilton Head Island - Bluffton Real Estate Market Doing? 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 Spanish Wells
Historical Median Sales Price Rolling 12-Month Calculation
22 Kirk Bluff Road, Bluffton 4 Bedrooms | 4 Bathrooms | 3,600 Htd. SqFt | $750,000 Enjoy the sunrise and breathtaking sunsets from this high bluff May River home boasting 180-degree panoramic views toward Palmetto Bluff. The fabulous dock has deep water 24/7 which is perfect for boating fun and hanging out on the famous May River Sandbar! New carpet, paint, and a remodeled granite open plan kitchen all complement the master with an area for a home office or private sitting with sweeping views. It’s a quick golf cart drive to charming Old Town Bluffton shops and restaurants.
6797 Browns Bluff Lane, Bluffton Lot | 0.87 Acres | Wooded/Deep Water Views | $400,000 Can’t find the perfect home with a dock on the May River? Build one on this one-of-a-kind May River home site with deep water access! Enjoy Downtown Old Bluffton and bask in the Southern sunlight on your private 30 foot dock in a gated community on May River Road near the intersection of Buckwalter Parkway. Privacy is abundant as there are only four home sites in this community. Live the May River lifestyle without paying $1M for a river front lot. Electricity and water are available on the dock.
Inventory of Homes For Sale
Number of Closed Home Sales
$2,500,000
10
50
Total Value of Homes Closed
9 HOME VALUE CONSULTATION
$2,000,000
8
40
Considering listing your home? Contact me for a complimentary home value consultation and let me show you how we utilize our digital presence and tailored platforms to sell your home for maximum value.
7
$1,500,000
6
30
5 PRSRT STD US POSTAGE PAID Permit 73
Nickey Maxey, Real Estate Advisor Main Shop | 800 Main Street, Hilton Head Island South Island Lounge | 7 New Orleans Road, Hilton Head Island Historic Bluffton Lounge | 6 Promenade Street, Suite 1001, Bluffton
Telephone: 843-247-0001 Email: nickey.maxey@evusa.com Website: www.nickeymaxey.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.
3
14
0
$500,000
2
10
Hilton Head Is., SC
Local Postal Customer
$1,000,000
4
20
On 04/30/16
15
On 04/30/17
1 0
2
1
1 Four Months of 2016
1 Four Months of 2017
st
st
0
$2.475,000
$1,000,000
1st Four Months of 2016
1 Four Months of 2017 st
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.