The State of the Belfair Real Estate Market - November 2017

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Our Portfolio of Fine Properties in Belfair P

of the Belfair Real Estate Market

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November 2017 KEY METRICS

280 Bamberg Drive, Belfair

51 Manchester Court, Belfair

18 W Cottage Circle, Belfair

5 Bedrooms | 5 Bathrooms | 2,511 Htd. SqFt | $510,000 C U O N N D T E R R A C T

The First Ten Months of 2017 in Review

In Belfair, 26 homes closed in the first ten months of 2017, compared to 27 last year. January through October’s total dollar volume was $17.4M, slightly down compared to $17.7M in 2016. Supply and demand: as of November 16, 2017, there are 44 Belfair homes listed for sale with an average of three homes selling per month over the last six months. That translates into a 14.67-month supply, considered by industry experts to be a strong buyer’s market. There are nine homes under contract in Belfair. In the lot realm, six lots closed in the first ten months of 2017, ten lots closed during the same period in 2016. There are no lots under contract at this present time. 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 ten 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 ten months’ record of 2,269 homes sold. In the first ten months of 2017 though, 2,876 homes were sold, a dramatic 27% increase. In other positive news, home values in just the first ten months of 2017 were up 2.2% over 2016 prices, but still 26% below the peak set in 2005. 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 Belfair

Historical Median Sales Price Rolling 12-Month Calculation 64 Lexington Drive, Belfair (Land/Lot)

33 Manchester Court, Belfair (Land/Lot) 0.30 Acres | Golf View | $1

12 Richland Drive, Belfair

4 Bedrooms | 3.5 Bathrooms | 3,277 Htd. SqFt | $449,000 D L O S

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0.59 Acres | Lake View | $49,000

27 E Summerton Drive, Belfair

24 Belmeade Drive, Belfair

292 Bamberg Drive, Belfair

COMMUNITY SPECIALIST The Linda Rudd Team is your Belfair Specialist. We’ve brought

buyers to, and sold, over 150 properties in the community. Please contact us if you’d like a no-obligation home valuation.

LINDA RUDD TEAM ACCOLADES

1. Ranked as “America’s Best of the Best” Top 1% of 19,452 SC Realtors by Real Trends in 2016. 2. Ranked as the #4 Team in Engel & Völkers North America in 2016. 3. Recipient of prestigious Engel & Völkers’ President’s Circle Award in 2015 and 2016.

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Hilton Head Is., SC

Telephone: 843-816-5522 • linda.rudd@evusa.com

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Rick Turner

Number of Closed Home Sales

Total Value of Homes Closed $20,000,000

$15,000,000

$10,000,000

PRSRT STD US POSTAGE PAID Permit 73

Linda Rudd, Real Estate Advisor, Team Leader

Inventory of Homes For Sale

On 10/31/16

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1st Ten Months of 2016

1st Ten Months of 2017

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$17,700,000

$17,400,000

1st Ten Months of 2016

1st Ten Months of 2017

Telephone: 843-816-0796 • rick.turner@evusa.com 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

Website: www.lindaruddteam.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.

Local Postal Customer

This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2017 through November 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.

Belfair Home Listings TOTAL APPROX. YEAR STATUS ADDRESS VIEW FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT Active 62 Lady Slipper Island Dr Deep Water, Golf 4 5 0 4,864 2004 $1,795,000 --Active 253 Belfair Oaks Boulevard Golf, Lake 4 4 1 6,250 2007 $1,795,000 --Active 350 Bamberg Drive Marsh, River 4 4 3 7,711 2006 $1,749,000 --Active 68 Lexington Dr Lagoon/Canal, Lake 5 5 1 6,131 2009 $1,549,000 --Active 7 Cooper Ct Wooded 5 4 2 5,146 2000 $1,495,000 --Active 30 Lady Slipper Island Dr Deep Water, Marsh 4 4 1 5,014 2009 $1,295,000 --Active 52 Richland Dr Marsh, River 5 6 1 7,558 2002 $1,250,000 --Active 54 Cumberland Drive Golf, Wooded 4 4 1 5,200 2007 $975,000 --Active 47 Cumberland Dr Lake 4 4 2 5,023 1999 $969,000 --Active 6 Chattooga Court Golf, Lake 5 4 1 4,148 1999 $950,000 --Active 18 Lady Slipper Island Court Marsh, River 4 4 1 3,428 2006 $949,000 --Active 10 Berkeley Court Golf, Lake 3 3 1 4,221 2003 $799,900 --Active 161 Summerton Drive Lagoon/Canal 5 5 2 5,500 2012 $799,000 --Active 45 Richland Drive Marsh, River 4 4 1 4,154 2007 $799,000 --Active 276 Belfair Oaks Boulevard Golf, River 4 3 1 4,599 2001 $795,000 --Active 50 Lady Slipper Island Drive Marsh, River 5 5 1 4,279 2007 $769,900 --Active 7 Hunting Court Marsh, Wooded 4 4 1 3,800 2017 $769,000 --Active 277 Belfair Oaks Boulevard Lake 4 4 1 3,850 2006 $750,000 --Active 211 Summerton Drive Lake 4 4 1 3,510 2017 $749,000 --Active 286 Belfair Oaks Boulevard Golf, River 4 3 1 4,298 2002 $749,000 --Active 92 Cumberland Drive Golf, Marsh 5 5 1 5,300 1999 $734,000 --Active 81 Lexington Drive Golf 4 4 0 3,797 2012 $687,500 --Active 158 Summerton Drive Wooded 4 4 1 3,000 2017 $625,000 --Active 280 Bamberg Drive Golf, Pool 4 4 1 3,874 2001 $614,900 --Active 16 Newberry Court Landscape 4 4 0 3,330 2015 $599,000 --Active 21 Lexington Drive Golf, Lagoon/Canal 4 4 1 3,679 2000 $549,000 --Active 51 Manchester Court Golf 4 3 0 3,075 2003 $537,000 --Active 48 Newberry Court Wooded 4 3 0 2,531 2007 $525,900 --Active 18 W Cottage Circle Golf, Marsh 5 5 0 2,511 1996 $510,000 --Active 272 Bamberg Drive Golf 4 3 0 3,751 1999 $499,000 --Active 25 Belmeade Drive Golf 4 5 1 3,653 2001 $495,000 --Active 61 Cumberland Drive Lagoon/Canal 3 3 1 3,446 2000 $459,000 --Active 145 Summerton Drive Landscape 3 3 1 3,013 2000 $450,000 --Active 281 Belfair Oaks Boulevard Lagoon/Canal 4 3 1 2,825 1997 $449,000 --Active 17 E Summerton Court Landscape, Wooded 3 3 0 2,537 2006 $449,000 --Active 20 E Cottage Circle Marsh, River 5 4 0 2,363 1997 $449,000 --Active 15 Newberry Court Landscape 4 4 0 3,324 2007 $439,900 --Active 89 Summerton Drive Lagoon/Canal, Wooded 4 4 0 3,203 2015 $435,000 --Active 2 Cumberland Drive Golf 4 4 0 2,894 1998 $409,000 --Active 12 E Cottage Circle Golf, River 5 5 0 2,552 1997 $399,000 --Active 11 Kershaw Drive Lagoon/Canal 5 5 0 3,604 2004 $399,000 --Active 11 E Summerton Court Lagoon/Canal, Wooded 4 4 1 3,512 2001 $379,000 --Active 291 Belfair Oaks Boulevard Lake, Landscape 3 3 0 3,546 1998 $365,000 --Active 35 Newberry Court Landscape, Wooded 4 4 0 2,466 2001 $349,000 --Pending 24 Belmeade Drive Landscape, Pool 4 4 1 3,423 2008 $749,000 --Pending 54 Lexington Drive Lake 4 5 1 5,102 2004 $659,000 --Pending 127 Belfair Oaks Boulevard Golf, Landscape 4 4 1 4,150 2001 $649,000 --Pending 261 Bamberg Drive Golf 4 4 1 4,714 2000 $629,000 --Pending 73 Belfair Oaks Boulevard Golf 4 5 0 3,803 2000 $575,000 --Pending 144 Belfair Oaks Boulevard Golf 3 3 0 3,019 2004 $549,000 --Pending 223 Summerton Drive Lagoon/Canal 4 5 1 4,333 2001 $549,000 --Pending 20 Belmeade Dr Landscape 3 3 0 3,642 2008 $469,000 --Pending 12 Richland Drive Golf, Marsh 4 3 1 3,277 2002 $449,000 --Sold 14 Lady Slipper Island Ct Marsh, River 3 3 1 3,700 2006 $995,000 $995,000 Sold 89 Cumberland Drive Marsh 5 5 0 4,186 1999 $725,000 $725,000 Sold 27 E Summerton Drive Golf, Lagoon/Canal 4 4 1 3,888 2007 $710,000 $710,000 Sold 292 Bamberg Drive Golf 4 4 1 4,195 1999 $610,000 $610,000 Sold 124 Belfair Oaks Boulevard Golf 4 4 1 3,620 1997 $530,000 $530,000 Sold 150 Belfair Oaks Boulevard Golf 5 5 0 4,510 2001 $510,000 $510,000 Sold 102 Summerton Drive Golf 4 4 0 2,974 2004 $400,000 $400,000

Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between August 1, 2017 and October 31, 2017

Belfair Lot Listings STATUS Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active

ADDRESS 4 Tidelands Court 100 Cumberland Drive 182 Summerton Drive 280 Belfair Oaks Boulevard 289 Belfair Oaks Boulevard 23 Oconee Court 252 Belfair Oaks Boulevard 355 Bamberg Drive 67 Lexington Drive 122 Belfair Oaks Boulevard 139 Belfair Oaks Boulevard 36 Edisto Drive 266 Bamberg Drive 193 Summerton Drive 64 Lexington Drive 301 Bamberg Drive 150 Summerton Drive 44 Edisto Drive 5 Belmont Drive 8 Abbeville Court 253 Bamberg Drive 44 Cumberland Drive 57 Lexington Drive

VIEW LIST PRICE CLOSE PRICE Marsh $360,000 --Golf, Marsh $284,500 --Golf, Lake $210,000 --Golf, River $159,000 --Lake $109,900 --Golf $99,900 --Golf, Marsh $99,000 --Golf, Marsh $89,900 --Golf, Wooded $79,900 --Golf, Lagoon/Canal $79,900 --Golf, Lake $74,900 --Golf, River $59,900 --Golf $58,900 --Lake $49,900 --Lake $49,000 --Golf $39,900 --Wooded $39,000 --Golf, Marsh $39,000 --Golf $39,000 --Golf, Lagoon/Canal $35,900 --Golf, Lagoon/Canal $29,000 --Golf $29,000 --Golf $27,500 ---

STATUS Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active

ADDRESS 7 Newberry Court 323 Bamberg Drive 50 Newberry Court 63 Manchester Court 251 Bamberg Drive 1 Oconee Court 22 Hunting Court 238 Bamberg Drive 52 Kershaw Drive 105 Summerton Drive 37 Manchester Court 278 Bamberg Drive 29 Manchester Court 33 Manchester Court 10 Hunting Court 17 Manchester Court 19 Hunting Court 3 W Kershaw Drive 39 Newberry Court 93 Summerton Drive 37 Newberry Court 55 Newberry Court

VIEW LIST PRICE CLOSE PRICE Wooded $25,000 --Golf, Landscape $21,500 --Wooded $20,000 --Golf, Wooded $19,900 --Golf, Lagoon/Canal $19,000 --Golf $15,000 --Lake $7,900 --Landscape $5,000 --Lake $2,000 --Wooded $1,000 --Golf $10 --Golf, Landscape $1 --Golf $1 --Golf $1 --Lake $1 --Golf, Lagoon/Canal $1 --Marsh, Wooded $1 --Lagoon/Canal $1 --Landscape, Wooded $1 --Landscape, Wooded $1 --Wooded $1 --Wooded $1 ---

Four Reasons to Sell This Winter

KEY TRENDS

Source: Keeping Current Matters, November 2017

#1: Buyer Demand Will Continue To Be Strong

#2: There Is Less Competition Now

Buyers are out in force looking for their dream homes! Buyers are often competing with one another for the listings that are available! According to the National Association of Realtors (NAR), the median days on the market for a listing was only 30 days last month!

Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.

#3: There Will Never Be A Better Time To Move Up

#4: It’s Time To Move On With Your Life

Prices are projected to appreciate by 5.0% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in both down payment and mortgage payment, if you wait.

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Perhaps the time has come for you and your family to move on and starting living the life you desire.

SOME HIGHLIGHTS: • Buyer demand continues to outpace the supply of homes for sale! Buyers are often competing with one another for the listings that are available! • Housing inventory is still under the 6-month supply that is needed for a normal housing market. • Perhaps the time has come for you and your family to move on and start living the life you desire.