The State of the Belfair Real Estate Market - July 2018

THE STATE

N M E A W R T K O E T

Our Portfolio of Fine Properties in Belfair

of the Belfair Real Estate Market July 2018

KEY METRICS 217 Summerton Drive, Belfair

237 Belfair Oaks Boulevard, Belfair

51 Manchester Court, Belfair

129 Belfair Oaks Boulevard, Belfair

19

$500,000

95.11%

249

Total Sales

Median Price

Sale to List Price

Median Days on Market

D O L

280 Bamberg Drive, Belfair

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O S

Greater Bluffton Real Estate Market Overview

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L O S

In Belfair, 19 homes closed in the first six months of 2018, compared to 18 homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $10,104,600, down compared to $12,167,000 during the same period last year. Supply and demand: as of July 3rd, 2018, there are 26 Belfair homes listed for sale with an average of 3.16 homes selling per month over the last six months. That translates into a 8.22-month supply, considered by industry experts to be a buyer’s market. There are 16 homes under contract in Belfair. In addition, there are currently 36 lots for sale in Belfair. Three have sold in the last six months and one is under contract.

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4 Bedrooms | 4 Bathrooms | 2,466 Htd. SqFt | $347,000

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35 Newberry Court, Belfair

First Six Months of 2018 in Review

ACTIVE LISTINGS IN GREATER BLUFFTON

725 24 Belmeade Drive, Belfair

27 E Summerton Drive, Belfair

YTD Greater Bluffton Home Sales

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.

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Linda Rudd, Real Estate Advisor, Team Leader Telephone: 843-816-5522 • linda.rudd@evusa.com

Hilton Head Is., SC

Rick Turner 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 ©2018 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

How’s the Bluffton Real Estate Market Doing?

YTD Through June 30 for Each Year

Year

Number of Homes Sold

Median Price

2013

737

$225,000

2014

683

$246,000

2015

800

$258,000

2016

954

$275,000

2017

1,017

$289,000

2018

1,140

$300,000

In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first half of the year, according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, first half home sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2006 at 571 sales. As you can see in the chart to the left, in first half of 2018 1,140 homes were sold, doubling the pre-recession peak. As the demand for Greater Bluffton continues to outpace supply, the median price has risen 3.8% from last year and is at an all-time high. With increasing demand and today’s historically low interest rates, it is an exceptional time to invest in real estate in our area.

This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2018 through July 5, 2018. 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 Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold

346 Bamberg Drive 62 Lady Slipper Island Drive 350 Bamberg Drive 253 Belfair Oaks Boulevard 237 Belfair Oaks Boulevard 18 Lady Slipper Island Court 35 Cumberland Drive 7 Abbeville Court 19 Lexington Drive 50 Lady Slipper Island Drive 211 Summerton Drive 92 Cumberland Drive 13 Oconee Court 54 Kershaw Drive 217 Summerton Drive 276 Bamberg Drive 130 Belfair Oaks Boulevard 158 Summerton Drive 88 Cumberland Drive 48 Newberry Court 51 Manchester Court 7 E Summerton Drive 60 Kershaw Drive 10 W Kershaw Drive 35 Newberry Court 157 Belfair Oaks Boulevard 251 Belfair Oaks Boulevard 52 Richland Drive 47 Cumberland Drive 286 Belfair Oaks Boulevard 26 Lexington Drive 277 Belfair Oaks Boulevard 12 Lexington Drive 79 Belfair Oaks Boulevard 16 Newberry Court 14 Lexington Drive 118 Belfair Oaks Boulevard 20 E Cottage Circle 17 E Summerton Court 5 W Kershaw Drive 145 Summerton Drive 11 E Summerton Court 95 Cumberland Drive 10 Berkeley Court 45 Richland Drive 24 Belmeade Drive 17 Belmeade Drive 81 Lexington Drive 280 Bamberg Drive 129 Belfair Oaks Boulevard 223 Summerton Drive 21 Lexington Drive 18 W Cottage Circle 272 Bamberg Drive 25 Belmeade Drive 281 Belfair Oaks Boulevard 61 Cumberland Drive 15 Newberry Court 2 Cumberland Drive 11 Kershaw Drive 291 Belfair Oaks Boulevard

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20 Tips for Preparing Your House for Sale TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 6 8 1 9,055 2001 $2,250,000 --4 5 0 4,864 2004 $1,795,000 --4 7 3 7,711 2006 $1,749,000 --4 5 1 6,250 2007 $1,545,000 --5 6 1 6,200 2004 $1,190,000 --4 5 1 3,428 2006 $885,000 --3 4 0 4,340 2000 $819,000 --4 5 1 3,539 2016 $795,000 --4 5 1 4,647 2000 $795,000 --5 6 1 4,279 2007 $749,900 --4 5 1 3,510 2017 $725,000 --5 6 1 5,300 1999 $699,000 --3 4 2 3,612 2016 $698,000 --4 5 1 3,657 2006 $679,000 --4 4 1 3,700 2002 $659,000 --5 6 1 4,015 2000 $619,500 --4 5 1 3,596 2000 $559,000 --4 5 1 3,000 2017 $549,000 --4 5 1 3,702 1998 $549,000 --4 3 0 2,531 2007 $519,900 --4 3 0 3,075 2003 $499,000 --4 5 1 3,443 2001 $489,000 --4 4 0 2,336 1999 $399,000 --3 4 0 2,336 1999 $389,900 --4 4 0 2,466 2001 $347,000 --4 4 0 2,511 1999 $339,000 --5 5 1 5,100 2017 $1,295,000 --5 7 1 7,558 2002 $999,000 --4 5 1 5,023 1999 $899,000 --4 4 1 4,298 2002 $749,000 --4 5 1 3,814 1999 $729,000 --4 5 1 3,850 2006 $700,000 --3 4 1 3,668 2013 $695,000 --4 4 0 3,449 1998 $619,000 --4 4 0 3,330 2015 $579,000 --4 4 0 3,703 2002 $559,000 --3 3 0 3,378 1998 $559,000 --5 4 0 2,363 1997 $449,000 --3 3 0 2,537 2006 $439,000 --4 4 0 2,440 1999 $425,000 --3 4 1 3,013 2000 $425,000 --4 5 1 3,512 2001 $349,000 --3 4 1 3,935 1999 $849,000 $835,000 3 4 1 4,221 2003 $799,900 $750,000 4 5 1 4,154 2007 $750,000 $725,000 4 5 1 3,423 2008 $749,000 $729,000 4 4 1 3,679 1999 $699,000 $685,000 4 4 0 3,797 2012 $649,000 $650,000 4 5 1 3,874 2001 $599,000 $545,000 4 5 1 3,276 1999 $549,000 $500,000 4 6 1 4,333 2001 $549,000 $530,000 4 5 1 3,679 2000 $549,000 $549,000 5 5 0 2,511 1996 $510,000 $465,000 4 3 0 3,751 1999 $499,000 $450,000 4 6 1 3,653 2001 $495,000 $446,500 4 4 1 2,825 1997 $449,000 $390,000 3 4 1 3,446 2000 $429,000 $415,000 4 4 0 3,324 2007 $425,500 $405,000 4 4 0 2,894 1998 $399,000 $375,000 4 5 0 3,604 2004 $375,000 $355,000 3 3 0 3,546 1998 $299,900 $305,100

Source: Keeping Current Matters, July 2018

When listing your house for sale, your top goal will be to get the house sold for the best price possible! There are many small projects you can do to ensure this happens!

10 tips to make your house feel like home to buyers

10 tips to improve your house’s curb appeal

KEY TRENDS

Give your entry a face lift with either a new coat of paint or a new front door.

Clean everything! Clean homes allow buyers to picture themselves in the space.

Don’t forget to landscape your yard! A well-groomed yard shows buyers that the home was taken care of.

Give every room a purpose - even if you used it as a bonus room, giving it an identity will help buyers.

Make sure all exterior lights work and replace all outdoor light bulbs.

Let light in! Bright rooms feel warm and inviting; dark rooms feel small and gloomy.

Wash all windows (inside and out) to ensure that dirt doesn’t take away from the view. Clean out your garage! Consider getting a storage unit to store non-essential items.

Fix anything that is broken! Buyers will notice and may offer less for your house if repairs are required. De-clutter! Thinning out closets and pantries will highlight space availability.

Add a pop of color by planting flowers that work with your area’s climate.

Replace light bulbs with new ones and make sure all switches are working.

Remove any lawn ornaments that you will bring with you to your new home.

Empty trash bins and hide dirty laundry before your home is shown.

Replace a worn out welcome mat to welcome buyers as they tour the home.

Organize the kitchen! Store non-essential, small appliances and clean all surfaces.

Paint or replace the street numbers on the house to increase their visibility.

Make sure all doors open and close smoothly. Be sure to fix squeaking doors!

Power wash outdoor surfaces to give them a ‘like new’ feel (ex: siding, driveway, sidewalks, etc.)

Fresh paint & new carpet are the top 2 things you can do to sell your home faster and for more money.

Percent Growth in Median Property Values Across the U.S. [2005-2017] Source: Keeping Current Matters, July 2018 WA 49%

VT (34%) ND 111%

MT 71% OR 55%

ID 55%

CA 9%

UT 66%

AZ 21%

WI 21%

SD 67%

WY 58% NV -5%

MN 14%

IA 40%

NE 41% CO 54%

KS 41% OK 54%

NM 38%

26%

KY 38% 50%

ME 29% NH (11%) MA (10%) RI (-4%)

PA 40% OH 16%

IN

IL 7%

WV 45%

VA 33%

CT (4%) NJ (2%) DE (23%) MD (15%) DC (58%)

NC 39%

TN

SC 44%

AR 49% MS 43%

TX 63%

NY 23%

MI 8%

MO 31%

AL 45%

GA 21%

LA 60% FL 14%

AK

Definitions for Listings

KEY TRENDS

38%

Active - On the Market Pending - Under Contract Sold - Closed Between January 1, 2018 and June 30, 2018

< 0.0% 0.0% to 24% 25% to 49% 50% to 75% HI 41%

> 75%