THE STATE
Our international reach finds home buyers.
of the Leamington Real Estate Market
5
May 2017
Continents
37
KEY METRICS
Countries
April 2017 in Review
700+
Shops
Leamington Plantation’s first four months of 2017 are comparable to last year: five homes closed this year and five homes closed last year. The first four months’ total dollar volume of homes sold in 2017 was $7,825,000, up from $5,853,000 in 2016. Supply and demand: there are currently 10 homes listed for sale with an average of 1.25 homes selling per month over the past four months. That translates into a 8-month supply, considered by industry experts to be a buyers market. As of May 15, 2017, there is one home pending/under contract. In the lot realm, one lot closed in 2016 with one lot under contract and five 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 Leamington
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 Leamington 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 Leamington Specialist. We live here, we sell homes here and we bring our buyers here, to the Island’s best kept secret. We SPECIALIST currently have two clients wishing for a home in Leamington. The first potential neighbor is 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 kids) 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! For an instant home evaluation please go to www.hiltonheadhomevalues.com or contact us at 843-290-5828.
Number of Closed Home Sales 15
80
$8,000,000
70
$7,000,000
12
60 50
$6,000,000 $5,000,000
9
40 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.
Hilton Head Is., SC
$4,000,000
6
30 20 10 0
Total Value of Homes Closed
$3,000,000 $2,000,000
3 74
On 04/30/16
10
On 04/30/17
5
0
1st Four Months of 2016
5
1st Four Months of 2017
$1,000,000 0
$5,853,000
$7,825,000
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.
Leamington Home Listings TOTAL YEAR APPROX. FULL BATHS HALF BATHS STATUS ADDRESS VIEW BEDROOMS BUILT SQ. FOOTAGE Active 51 Heath Court W Golf 4 4 0 1990 4,335 Active 7 Merion Court Golf 4 4 1 2006 4,204 Active 1 Fairway Court Golf, Lagoon 5 5 1 1999 6,122 Active 73 Leamington Lane Golf, Landscape 4 4 0 1992 3,400 Active 17 Interlochen Drive Landscape, Pool 5 4 1 2002 3,400 Active 15 Interlochen Drive Landscape 3 2 1 1977 2,920 Active 13 S Shore Place Lagoon, Landscape 4 4 1 1995 3,430 Active 6 Covington Court Lagoon, Landscape 4 4 0 1989 2,479 Active 18 Leamington Lane Golf 4 3 0 1989 2,788 Active 13 Interlochen Drive Wooded 4 3 1 1999 2,807 Pending 19 Leamington Lane Lagoon 4 4 0 1993 3,262 Sold 160 S Shore Drive Ocean 5 5 1 1999 3,912 Sold 2 Fairway Court Golf, Lagoon 4 4 1 2008 4,258 Sold 38 Leamington Lane Golf 4 4 1 2016 3,130 Sold 4 S Shore Drive Golf, Lagoon 4 3 1 2015 3,000 Sold 86 Leamington Lane Golf, Lagoon 4 3 0 1996 3,071 Sold 47 Heath Court W Golf 3 3 0 1997 2,310 Sold 62 Leamington Lane Golf 3 3 1 1987 3,054
Urgency! Home Buyers and Sellers, Now’s The Perfect Time to Get Low Interest Rates
LIST PRICE CLOSE PRICE $775,000 $829,000 $1,275,000 $839,000 $825,000 $619,000 $1,155,000 $949,000 $849,000 $719,000 $949,000 $2,695,000 $1,399,000 $1,190,000 $1,219,000 $749,000 $710,000 $499,000
----------------------$2,425,000 $1,300,000 $1,170,000 $1,092,500 $727,500 $710,000 $400,000
KEY TRENDS
Source: Freddie Mac, May 2017
30 YEAR FIXED RATE MORTGAGES FROM FREDDIE MAC
Leamington Lot Listings STATUS
ADDRESS
Active Active Active Active Active Pending
18 Brassie Court 50 Leamington Lane 42 Leamington Lane 12 Leamington Lane 12 Brassie Court 4 Leamington Court
APPROX. LOT SIZE LIST PRICE CLOSE PRICE (ACRES) Lagoon, Lake 0.2898 $579,000 --Golf 0.4362 $419,500 --Golf, Lagoon 0.3397 $399,900 --Golf, Landscape 0.3201 $379,000 --Lagoon 0.2283 $329,000 --Golf, Lagoon 0.6024 $399,000 --VIEW
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.
Leamington Home Listings TOTAL YEAR APPROX. FULL BATHS HALF BATHS STATUS ADDRESS VIEW BEDROOMS BUILT SQ. FOOTAGE Active 51 Heath Court W Golf 4 4 0 1990 4,335 Active 7 Merion Court Golf 4 4 1 2006 4,204 Active 1 Fairway Court Golf, Lagoon 5 5 1 1999 6,122 Active 73 Leamington Lane Golf, Landscape 4 4 0 1992 3,400 Active 17 Interlochen Drive Landscape, Pool 5 4 1 2002 3,400 Active 15 Interlochen Drive Landscape 3 2 1 1977 2,920 Active 13 S Shore Place Lagoon, Landscape 4 4 1 1995 3,430 Active 6 Covington Court Lagoon, Landscape 4 4 0 1989 2,479 Active 18 Leamington Lane Golf 4 3 0 1989 2,788 Active 13 Interlochen Drive Wooded 4 3 1 1999 2,807 Pending 19 Leamington Lane Lagoon 4 4 0 1993 3,262 Sold 160 S Shore Drive Ocean 5 5 1 1999 3,912 Sold 2 Fairway Court Golf, Lagoon 4 4 1 2008 4,258 Sold 38 Leamington Lane Golf 4 4 1 2016 3,130 Sold 4 S Shore Drive Golf, Lagoon 4 3 1 2015 3,000 Sold 86 Leamington Lane Golf, Lagoon 4 3 0 1996 3,071 Sold 47 Heath Court W Golf 3 3 0 1997 2,310 Sold 62 Leamington Lane Golf 3 3 1 1987 3,054
Urgency! Home Buyers and Sellers, Now’s The Perfect Time to Get Low Interest Rates
LIST PRICE CLOSE PRICE $775,000 $829,000 $1,275,000 $839,000 $825,000 $619,000 $1,155,000 $949,000 $849,000 $719,000 $949,000 $2,695,000 $1,399,000 $1,190,000 $1,219,000 $749,000 $710,000 $499,000
----------------------$2,425,000 $1,300,000 $1,170,000 $1,092,500 $727,500 $710,000 $400,000
KEY TRENDS
Source: Freddie Mac, May 2017
30 YEAR FIXED RATE MORTGAGES FROM FREDDIE MAC
Leamington Lot Listings STATUS
ADDRESS
Active Active Active Active Active Pending
18 Brassie Court 50 Leamington Lane 42 Leamington Lane 12 Leamington Lane 12 Brassie Court 4 Leamington Court
APPROX. LOT SIZE LIST PRICE CLOSE PRICE (ACRES) Lagoon, Lake 0.2898 $579,000 --Golf 0.4362 $419,500 --Golf, Lagoon 0.3397 $399,900 --Golf, Landscape 0.3201 $379,000 --Lagoon 0.2283 $329,000 --Golf, Lagoon 0.6024 $399,000 --VIEW
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
Our international reach finds home buyers.
of the Leamington Real Estate Market
5
May 2017
Continents
37
KEY METRICS
Countries
April 2017 in Review
700+
Shops
Leamington Plantation’s first four months of 2017 are comparable to last year: five homes closed this year and five homes closed last year. The first four months’ total dollar volume of homes sold in 2017 was $7,825,000, up from $5,853,000 in 2016. Supply and demand: there are currently 10 homes listed for sale with an average of 1.25 homes selling per month over the past four months. That translates into a 8-month supply, considered by industry experts to be a buyers market. As of May 15, 2017, there is one home pending/under contract. In the lot realm, one lot closed in 2016 with one lot under contract and five 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 Leamington
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 Leamington 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 Leamington Specialist. We live here, we sell homes here and we bring our buyers here, to the Island’s best kept secret. We SPECIALIST currently have two clients wishing for a home in Leamington. The first potential neighbor is 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 kids) 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! For an instant home evaluation please go to www.hiltonheadhomevalues.com or contact us at 843-290-5828.
Number of Closed Home Sales 15
80
$8,000,000
70
$7,000,000
12
60 50
$6,000,000 $5,000,000
9
40 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.
Hilton Head Is., SC
$4,000,000
6
30 20 10 0
Total Value of Homes Closed
$3,000,000 $2,000,000
3 74
On 04/30/16
10
On 04/30/17
5
0
1st Four Months of 2016
5
1st Four Months of 2017
$1,000,000 0
$5,853,000
$7,825,000
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.