The State of the Belfair Real Estate Market- July 2017

THE STATE

Our Portfolio of Fine Properties in Belfair

of the Belfair Real Estate Market July 2017

KEY METRICS

24 Belmeade Drive, Belfair

27 E Summerton Drive, Belfair

12 Richland Drive, Belfair

In Belfair, eighteen homes closed in the first six months of 2017, compared to seventeen last year. January through June’s total dollar volume was $12.167M, up compared to $11.528M in 2016. Supply and demand: as of July 13, 2017, there are 51 Belfair homes listed for sale with an average of three homes selling per month over the last six months. That translates into a 17-month supply, considered by industry experts to be a strong buyer’s market. There are three homes under contract in Belfair. In the lot realm, six lots closed in the first six months of 2017, seven lots closed during the same period in 2016. There are no lots under contract at this present time.

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R PR O I V C E E M E

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The First Half of 2017 in Review Sales Up in Belfair

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 half 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 six months’ record of 1,332 homes sold. In the first six months of 2017 though, 1,656 homes were sold, a dramatic 24% increase. In other positive news, home values in just the first six months of 2017 were up 2.2% over 2016 prices, but still 25% 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

O S

42 Lexington Drive, Belfair

0.30 Acres | Golf View | $1 D

D L

L O S

225 Summerton Drive, Belfair

33 Manchester Court, Belfair (Land/Lot)

L

0.59 Acres | Lake View | $49,000

O

64 Lexington Drive, Belfair (Land/Lot)

D

5 Bedrooms | 5 Bathrooms | 2,511 Htd. SqFt | $510,000

S

18 W Cottage Circle, Belfair

60 Cumberland Drive, Belfair

3 Bedrooms | 3.5 Bathrooms | 3,176 Htd. SqFt | $440,000

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.

PRSRT STD US POSTAGE PAID Permit 73

Linda Rudd, Real Estate Advisor, Team Leader

Inventory of Homes For Sale

40

$15,000,000

80

32

$12,000,000

60

24

$9,000,000

40

16

$6,000,000

8

$3,000,000

20 57

0

Rick Turner

Total Value of Homes Closed

100

Hilton Head Is., SC

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

Number of Closed Home Sales

On 06/30/16

52

On 06/30/17

0

17

18

1 Six Months of 2016

1 Six Months of 2017

st

0

$11,528,000

$12,167,000

1st Six Months of 2016

1 Six Months of 2017 st

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.hiltonheadislandbluffton.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 July 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 STATUS

ADDRESS

VIEW

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 Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold

346 Bamberg Drive 62 Lady Slipper Island Dr 68 Lexington Drive 312 Bamberg Drive 30 Lady Slipper Island Dr 47 Richland Drive 14 Lady Slipper Island Ct 6 Chattooga Court 47 Cumberland Drive 161 Summerton Drive 89 Cumberland Drive 276 Belfair Oaks Boulevard 277 Belfair Oaks Boulevard 50 Lady Slipper Island Drive 7 Hunting Court 24 Belmeade Drive 211 Summerton Drive 27 E Summerton Drive 92 Cumberland Drive 81 Lexington Drive 295 Bamberg Drive 292 Bamberg Drive 54 Lexington Drive 5 Hunting Court 158 Summerton Drive 261 Bamberg Drive 276 Bamberg Drive 287 Bamberg Drive 73 Belfair Oaks Boulevard 16 Newberry Court 21 Lexington Drive 144 Belfair Oaks Boulevard 223 Summerton Drive 48 Newberry Court 18 W Cottage Circle 45 Manchester Court 272 Bamberg Drive 12 Richland Drive 14 E Cottage Circle 145 Summerton Drive 15 Newberry Court 281 Belfair Oaks Boulevard 11 E Summerton Court 102 Summerton Drive 89 Summerton Drive 2 Cumberland Drive 12 E Cottage Circle 11 Kershaw Drive 4 E Cottage Circle 291 Belfair Oaks Boulevard 35 Newberry Court 66 Lexington Drive 124 Belfair Oaks Boulevard 150 Belfair Oaks Boulevard 51 Richland Drive 141 Belfair Oaks Boulevard 225 Summerton Drive 93 Cumberland Drive 42 Lexington Drive 40 Kershaw Drive 9 Cooper Court 58 Kershaw Drive 17 E Summerton Drive 31 Lexington Drive 60 Cumberland Drive

Deep Water, Marsh Deep Water, Golf Lake Golf, Marsh Deep Water, Marsh Marsh, River Marsh, River Golf, Lake Lake, Wooded Lagoon Marsh Golf, River Lake Marsh, River Marsh, Wooded Landscape, Pool Lake Golf Golf, Marsh Golf Golf, Lagoon Golf Lake Landscape Wooded Golf Golf Golf, Lagoon Golf Landscape Golf, Lagoon Golf Lake Wooded Golf, Marsh Golf Golf Golf, Marsh Deep Water, Marsh Landscape Landscape Lagoon Lagoon, Wooded Golf Lagoon, Wooded Golf Golf, River Lagoon Golf, Marsh Lake Landscape, Wooded Lake Golf Golf Marsh, River Golf Lake Marsh Lake, Pool Golf, Marsh Landscape, Pool Lake Golf, Lagoon Golf Golf, Lagoon

Belfair Lot Listings TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 6 7 1 9,055 2001 $2,750,000 --4 5 0 4,864 2004 $1,879,000 --5 5 1 6,131 2009 $1,595,000 --4 4 2 6,061 2004 $1,475,000 --4 4 1 5,014 2009 $1,350,000 --5 5 1 5,500 1998 $1,295,000 --3 3 1 3,700 2006 $1,050,000 --5 4 1 4,148 1999 $950,000 --4 4 1 5,023 1999 $949,000 --6 5 2 5,500 2012 $919,900 --5 5 0 4,186 1999 $795,000 --4 3 1 4,599 2001 $795,000 --4 4 1 3,850 2006 $790,000 --5 5 1 4,279 2007 $769,900 --4 4 1 3,800 2017 $769,000 --4 4 1 3,423 2008 $749,000 --4 4 1 3,510 2017 $749,000 --4 4 1 3,888 2007 $739,000 --5 5 1 5,300 1999 $734,000 --4 4 0 3,797 2011 $725,000 --4 4 1 5,058 2002 $694,900 --4 4 1 4,195 1999 $675,900 --4 5 1 5,102 2004 $659,000 --4 4 1 2,866 2017 $650,000 --4 4 1 3,000 2017 $639,000 --4 4 1 4,714 2000 $629,000 --4 5 1 4,015 2000 $599,999 --4 4 1 4,487 1999 $599,000 --4 5 0 3,803 2000 $599,000 --4 4 0 3,330 2015 $599,000 --4 4 1 3,679 2000 $575,000 --3 3 0 3,019 2004 $569,000 --4 5 1 4,333 2001 $549,000 --4 3 0 2,531 2007 $530,900 --5 5 0 2,511 1996 $510,000 --4 4 1 3,728 2001 $499,900 --4 3 0 3,751 1999 $499,000 --4 3 1 3,277 2002 $494,000 --5 4 0 2,552 1997 $479,000 --3 3 1 3,013 2000 $475,000 --4 4 0 3,324 2007 $469,900 --4 3 1 2,825 1997 $449,000 --4 4 1 3,512 2001 $439,999 --4 4 0 2,974 2004 $439,000 --4 4 0 3,203 2015 $435,000 --4 4 0 2,894 1998 $429,900 --5 5 0 2,552 1997 $399,000 --5 5 0 3,604 2004 $399,000 --5 5 0 2,552 1998 $389,000 --3 3 0 3,546 1998 $349,000 --4 4 0 2,466 2001 $349,000 --4 4 1 3,618 2010 $799,000 --4 4 1 3,620 1997 $565,000 --5 5 0 4,510 2001 $559,000 --4 4 2 5,014 2008 $1,550,000 $1,550,000 4 4 1 4,000 2014 $824,000 $824,000 4 4 1 4,089 2007 $760,000 $760,000 5 4 2 4,725 2001 $750,000 $750,000 4 4 0 4,152 2000 $749,000 $749,000 5 5 2 5,908 2001 $735,000 $735,000 4 3 1 3,654 1999 $690,000 $690,000 4 4 1 3,123 2014 $550,000 $550,000 3 3 1 3,298 2006 $520,000 $520,000 3 3 0 2,560 2007 $485,000 $485,000 3 3 1 3,176 1999 $440,000 $440,000

Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between April 1, 2017 and June 30, 2017

STATUS 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

ADDRESS 4 Tidelands Court 182 Summerton Drive 280 Belfair Oaks Boulevard 37 Belmont Drive 252 Belfair Oaks Boulevard 289 Belfair Oaks Boulevard 72 Lexington Drive 23 Oconee Court 139 Belfair Oaks Boulevard 355 Bamberg Drive 67 Lexington Drive 122 Belfair Oaks Boulevard 150 Summerton Drive 36 Edisto Drive 5 Belmont Drive 266 Bamberg Drive 289 Bamberg Drive 64 Lexington Drive 301 Bamberg Drive 44 Edisto Drive 8 Abbeville Court 253 Bamberg Drive 44 Cumberland Drive 57 Lexington Drive 18 Summerton Drive 323 Bamberg Drive

VIEW LIST PRICE CLOSE PRICE Marsh $360,000 --Golf, Lake $220,000 --Golf, River $199,000 --Golf $149,900 --Golf, Marsh $129,900 --Lake $109,900 --Lake $109,000 --Golf $99,900 --Golf, Lake $99,500 --Golf, Marsh $89,900 --Golf, Wooded $79,900 --Golf, Lagoon $79,900 --Wooded $79,000 --Golf, River $75,000 --Golf $59,000 --Golf $58,900 --Golf $49,000 --Lake $49,000 --Golf $39,900 --Golf, Marsh $39,000 --Golf, Lagoon $35,900 --Golf, Lagoon $29,000 --Golf $29,000 --Golf $27,500 --Golf $25,000 --Golf, Landscape $21,500 ---

STATUS Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Sold Sold Sold Sold Sold

ADDRESS 50 Newberry Court 63 Manchester Court 251 Bamberg Drive 1 Oconee Court 22 Hunting Court 105 Summerton Drive 3 E Summerton Drive 238 Bamberg Drive 52 Kershaw 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 7 Lexington Drive 351 Bamberg Drive 287 Belfair Oaks Boulevard 285 Belfair Oaks Boulevard 299 Bamberg Drive

VIEW LIST PRICE CLOSE PRICE Wooded $20,000 --Golf, Wooded $19,900 --Golf, Lagoon $19,000 --Golf $15,000 --Lake $7,900 --Wooded $6,000 --Golf $5,000 --Landscape $5,000 --Lake $2,000 --Golf $10 --Golf, Landscape $1 --Golf $1 --Golf $1 --Lake $1 --Golf, Lagoon $1 --Marsh, Wooded $1 --Lagoon $1 --Landscape, Wooded $1 --Landscape, Wooded $1 --Wooded $1 --Golf, Lagoon $140,000 $140,000 Golf $72,000 $72,000 Lake $68,000 $68,000 Lake $65,000 $65,000 Golf, Lagoon $25,000 $25,000

Home Appreciation by State Actual Year-Over-Year % Change in Price

KEY TRENDS

Source: KeepingCurrentMatters.com, July 2017

WA 12.0%

OR 9.1%

MT 4.4% ID 6.8%

NV 6.7% CA 5.9%

VT (3.4%) ND 2.8%

WY -3.9%

MN 6.0%

AZ 6.0%

CO 8.8%

WI 7.0%

SD 2.5%

IL 5.0%

OK 1.2%

PA 3.2% WV 0.3%

AR 6.0% AL 6.6%

VA 2.3%

CT (0.4%) NJ (2.9%) DE (-0.2%) MD (3.3%) DC (5.0%)

NC 5.7%

TN 5.1%

MS 0.4% TX 4.8%

OH 3.4%

IN 5.8%

NH (6.7%) MA (6.1%) RI (4.9%)

KY 3.4%

MO 4.9%

KS 3.1%

NM 2.0%

MI 8.7%

IA 2.3%

NE 5.3% UT 10.1%

NY 7.2%

ME 0.2%

SC 5.8% GA 5.6%

LA 4.7% FL 6.4%

AK -0.2%

UNITED STATES 6.9%

< 0.0% 0.0% to 1.9% 2.0% to 3.9% 4.0% to 5.9%

HI 6.1%

> 6%

Here is the actual year-over-year percentage change in price by state for homes sold. For the United States as a whole it is 6.9%. Historic annual single-family appreciation is 3.6%. If we’re at 6.9% over the last 12 months, we’ve almost doubled that number. This information can be helpful in determining if it is time to sell or buy a home in the United States. With an appreciation rate of 6.9% nationally, it might just be the time to make a move. We are seeing a record-number of buyers who live out of this area taking equity out of their home to buy a second home, or selling to move here.