THE STATE
O UN N D T E R R A C T
Our Portfolio of Fine Properties in Belfair
of the Belfair Real Estate Market
C
March 2018
KEY METRICS 33 Manchester Court, Belfair (Land/Lot)
51 Manchester Court, Belfair
280 Bamberg Drive, Belfair
4 Bedrooms | 4.5 Bathrooms | 3,874 Htd. SqFt | $599,000
4
$420,000
95.09%
523
Total Sales
Median Price
Sale to List Price
Median Days on Market
64 Lexington Drive, Belfair (Land/Lot)
4 Bedrooms | 4.5 Bathrooms | 3,423 Htd. SqFt | $729,000 0.59 Acres | Lake View | $30,000
D L
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Greater Bluffton Real Estate Market Overview
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D L
L O S
D S
24 Belmeade Drive, Belfair
D
5 Bedrooms | 5 Bathrooms | 2,511 Htd. SqFt | $465,000
In Belfair, four homes closed in the first two months of 2018, compared to five homes which closed during the same time in 2017. January and February 2018’s total dollar volume was $1.694M, down compared to $2.995M in 2017. Supply and demand: as of March 2nd, 2018, there are 37 Belfair homes listed for sale with an average of 3.17 homes selling per month over the last six months. That translates into a 11.67-month supply, considered by industry experts to be a buyer’s market. There are seven homes under contract in Belfair.
S
18 W Cottage Circle, Belfair
O L
O L
D
0.30 Acres | Golf View | $1
S
S
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D
4 Bedrooms | 3 Bathrooms | 3,075 Htd. SqFt | $537,000
February 2018 in Review
ACTIVE LISTINGS IN GREATER BLUFFTON
730 12 Richland Drive, Belfair
27 E Summerton Drive, Belfair
YTD Greater Bluffton Home Sales
292 Bamberg Drive, Belfair
4 Bedrooms | 3.5 Bathrooms | 3,277 Htd. SqFt | $429,000 4 Bedrooms | 4.5 Bathrooms | 3,888 Htd. SqFt | $710,000 4 Bedrooms | 4.5 Bathrooms | 4,195 Htd. SqFt | $610,000
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 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 February 28 for Each Year
Year
Number of Homes Sold
Median Price
2013
195
$239,000
2014
178
$240,000
2015
198
$249,000
2016
229
$279,000
2017
237
$298,000
2018
265
$310,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first two months, according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, the first two months of homes sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2006 at 148 sales. As you can see in the chart to the left in first two months of 2018 though, 265 homes were sold, bettering the pre-recession peak by an extraordinary 79%! As the demand for Greater Bluffton continues to outpace supply, the median price has risen 4% 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 March 7, 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 Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Pending Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold
346 Bamberg Drive 62 Lady Slipper Island Drive 350 Bamberg Drive 253 Belfair Oaks Boulevard 68 Lexington Drive 7 Cooper Court 30 Lady Slipper Island Drive 251 Belfair Oaks Boulevard 52 Richland Drive 47 Cumberland Drive 18 Lady Slipper Island Court 54 Cumberland Drive 10 Berkeley Court 276 Belfair Oaks Boulevard 161 Summerton Drive 50 Lady Slipper Island Drive 45 Richland Drive 92 Cumberland Drive 211 Summerton Drive 286 Belfair Oaks Boulevard 17 Belmeade Drive 277 Belfair Oaks Boulevard 276 Bamberg Drive 81 Lexington Drive 158 Summerton Drive 16 Newberry Court 51 Manchester Court 48 Newberry Court 25 Belmeade Drive 145 Summerton Drive 20 E Cottage Circle 17 E Summerton Court 2 Cumberland Drive 11 Kershaw Drive 35 Newberry Court 95 Cumberland Drive 24 Belmeade Drive 26 Lexington Drive 280 Bamberg Drive 129 Belfair Oaks Boulevard 18 W Cottage Circle 61 Cumberland Drive 15 Newberry Court 11 E Summerton Court 54 Lexington Drive 73 Belfair Oaks Boulevard 21 Lexington Drive 272 Bamberg Drive 281 Belfair Oaks Boulevard 12 Richland Drive 89 Summerton Drive 291 Belfair Oaks Boulevard
Deep Water, Marsh Deep Water, Golf Marsh, River Golf, Lake Lagoon, Lake Wooded Deep Water, Marsh Golf, Lake Marsh, River Lake Marsh, River Golf, Wooded Golf, Lake Golf, River Lagoon Marsh, River Marsh, River Golf, Marsh Lake Golf, River Golf, Wooded Lake Golf Golf Wooded Landscape Golf Wooded Golf Landscape Marsh, River Landscape, Wooded Golf Lagoon Landscape, Wooded Marsh, River Landscape, Pool Golf, Lagoon Golf, Pool Golf, Wooded Golf, Marsh Lake Landscape Lagoon, Wooded Lake Golf Golf, Lagoon Golf Lagoon Golf, Marsh Lagoon, Wooded Lake, Landscape
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 6 7 1 9,055 2001 $2,250,000 --4 5 0 4,864 2004 $1,795,000 --4 4 3 7,711 2006 $1,749,000 --4 4 1 6,250 2007 $1,595,000 --5 5 1 6,131 2009 $1,549,000 --5 4 2 5,146 2000 $1,495,000 --4 4 1 5,014 2009 $1,295,000 --5 4 1 5,100 2017 $1,295,000 --5 6 1 7,558 2002 $1,150,000 --4 4 2 5,023 1999 $969,000 --4 4 1 3,428 2006 $939,000 --4 4 1 5,200 2007 $895,000 --3 3 1 4,221 2003 $799,900 --4 3 1 4,599 2001 $795,000 --5 5 2 5,500 2012 $774,000 --5 5 1 4,279 2007 $769,900 --4 4 1 4,154 2007 $750,000 --5 5 1 5,300 1999 $749,000 --4 4 1 3,510 2017 $749,000 --4 3 1 4,298 2002 $749,000 --4 3 1 3,679 1999 $749,000 --4 4 1 3,850 2006 $745,000 --5 5 1 4,015 2000 $659,000 --4 4 0 3,797 2012 $649,000 --4 4 1 3,000 2017 $625,000 --4 4 0 3,330 2015 $599,000 --4 3 0 3,075 2003 $537,000 --4 3 0 2,531 2007 $519,900 --4 5 1 3,653 2001 $495,000 --3 3 1 3,013 2000 $450,000 --5 4 0 2,363 1997 $449,000 --3 3 0 2,537 2006 $439,000 --4 4 0 2,894 1998 $399,000 --4 5 0 3,604 2004 $375,000 --4 4 0 2,466 2001 $349,000 --3 3 1 3,935 1999 $849,000 --4 4 1 3,423 2008 $749,000 --4 4 1 3,814 1999 $729,000 --4 4 1 3,874 2001 $599,000 --4 4 1 3,276 1999 $549,000 --5 5 0 2,511 1996 $510,000 --3 3 1 3,446 2000 $429,000 --4 4 0 3,324 2007 $425,500 --4 4 1 3,512 2001 $349,000 --4 5 1 5,102 2004 $659,000 $599,000 4 5 0 3,803 2000 $575,000 $525,000 4 4 1 3,679 2000 $549,000 $549,000 4 3 0 3,751 1999 $499,000 $450,000 4 3 1 2,825 1997 $449,000 $390,000 4 3 1 3,277 2002 $449,000 $429,000 4 4 0 3,203 2015 $435,000 $424,000 3 3 0 3,546 1998 $299,900 $305,100
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between December 1, 2017 and February 28, 2018
How Much Does Waiting To Buy Your Next Home Cost You?
KEY TRENDS
Source: Keeping Current Matters, March 2018
Date Today 2019
Mortgage
Interest Rate*
$500,000 4.0% $521,000 4.9% DIFFERENCE IN MONTHLY PAYMENT $378.01
P&I** $2,387.08 $2,765.09
*Average Commitment Rate Per Freddie Mac. **Principle and Interest Payment
KEY TRENDS
Four Reasons to Sell Your Home This Spring Source: Keeping Current Matters, March 2018
#1 - BUYER DEMAND WILL REMAIN STRONG
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 market for a listing was only 42 days last month!
#2 - there is less competition now
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
Prices are projected to appreciate by 4.3% 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.
#4 - IT’S TIME TO MOVE ON WITH YOUR LIFE 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 start living the life you desire!
Extensive Domestic & Global Exposure (EDGE™) Smart Marketing, Extensive Exposure, and Tailored Strategies to Sell Your Home Global reach with boutique style is what you can expect when working with Engel & Völkers here and around the world - and we’ve sharpened our EDGE. Committed to delivering the highest level of customer service, we provide Extensive Domestic & Global Exposure (EDGE) designed to maximize exposure of your listing to qualified, targeted buyers worldwide with the utmost care and competency. • Highly trusted strategic online and mobile marketing partners with a combined 500 million website and mobile views per month • A global network spanning more than 30 countries with 9,000 Advisors in 750 shops around the world • White-glove professionalism and local market expertise of your dedicated Advisor Let us provide the EDGE you need to sell your home. Contact the Linda Rudd Team for a complimentary, no-obligation home valuation.
TECH FOCUS
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 Pending Pending Pending Pending Pending Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold
346 Bamberg Drive 62 Lady Slipper Island Drive 350 Bamberg Drive 253 Belfair Oaks Boulevard 68 Lexington Drive 7 Cooper Court 30 Lady Slipper Island Drive 251 Belfair Oaks Boulevard 52 Richland Drive 47 Cumberland Drive 18 Lady Slipper Island Court 54 Cumberland Drive 10 Berkeley Court 276 Belfair Oaks Boulevard 161 Summerton Drive 50 Lady Slipper Island Drive 45 Richland Drive 92 Cumberland Drive 211 Summerton Drive 286 Belfair Oaks Boulevard 17 Belmeade Drive 277 Belfair Oaks Boulevard 276 Bamberg Drive 81 Lexington Drive 158 Summerton Drive 16 Newberry Court 51 Manchester Court 48 Newberry Court 25 Belmeade Drive 145 Summerton Drive 20 E Cottage Circle 17 E Summerton Court 2 Cumberland Drive 11 Kershaw Drive 35 Newberry Court 95 Cumberland Drive 24 Belmeade Drive 26 Lexington Drive 280 Bamberg Drive 129 Belfair Oaks Boulevard 18 W Cottage Circle 61 Cumberland Drive 15 Newberry Court 11 E Summerton Court 54 Lexington Drive 73 Belfair Oaks Boulevard 21 Lexington Drive 272 Bamberg Drive 281 Belfair Oaks Boulevard 12 Richland Drive 89 Summerton Drive 291 Belfair Oaks Boulevard
Deep Water, Marsh Deep Water, Golf Marsh, River Golf, Lake Lagoon, Lake Wooded Deep Water, Marsh Golf, Lake Marsh, River Lake Marsh, River Golf, Wooded Golf, Lake Golf, River Lagoon Marsh, River Marsh, River Golf, Marsh Lake Golf, River Golf, Wooded Lake Golf Golf Wooded Landscape Golf Wooded Golf Landscape Marsh, River Landscape, Wooded Golf Lagoon Landscape, Wooded Marsh, River Landscape, Pool Golf, Lagoon Golf, Pool Golf, Wooded Golf, Marsh Lake Landscape Lagoon, Wooded Lake Golf Golf, Lagoon Golf Lagoon Golf, Marsh Lagoon, Wooded Lake, Landscape
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 6 7 1 9,055 2001 $2,250,000 --4 5 0 4,864 2004 $1,795,000 --4 4 3 7,711 2006 $1,749,000 --4 4 1 6,250 2007 $1,595,000 --5 5 1 6,131 2009 $1,549,000 --5 4 2 5,146 2000 $1,495,000 --4 4 1 5,014 2009 $1,295,000 --5 4 1 5,100 2017 $1,295,000 --5 6 1 7,558 2002 $1,150,000 --4 4 2 5,023 1999 $969,000 --4 4 1 3,428 2006 $939,000 --4 4 1 5,200 2007 $895,000 --3 3 1 4,221 2003 $799,900 --4 3 1 4,599 2001 $795,000 --5 5 2 5,500 2012 $774,000 --5 5 1 4,279 2007 $769,900 --4 4 1 4,154 2007 $750,000 --5 5 1 5,300 1999 $749,000 --4 4 1 3,510 2017 $749,000 --4 3 1 4,298 2002 $749,000 --4 3 1 3,679 1999 $749,000 --4 4 1 3,850 2006 $745,000 --5 5 1 4,015 2000 $659,000 --4 4 0 3,797 2012 $649,000 --4 4 1 3,000 2017 $625,000 --4 4 0 3,330 2015 $599,000 --4 3 0 3,075 2003 $537,000 --4 3 0 2,531 2007 $519,900 --4 5 1 3,653 2001 $495,000 --3 3 1 3,013 2000 $450,000 --5 4 0 2,363 1997 $449,000 --3 3 0 2,537 2006 $439,000 --4 4 0 2,894 1998 $399,000 --4 5 0 3,604 2004 $375,000 --4 4 0 2,466 2001 $349,000 --3 3 1 3,935 1999 $849,000 --4 4 1 3,423 2008 $749,000 --4 4 1 3,814 1999 $729,000 --4 4 1 3,874 2001 $599,000 --4 4 1 3,276 1999 $549,000 --5 5 0 2,511 1996 $510,000 --3 3 1 3,446 2000 $429,000 --4 4 0 3,324 2007 $425,500 --4 4 1 3,512 2001 $349,000 --4 5 1 5,102 2004 $659,000 $599,000 4 5 0 3,803 2000 $575,000 $525,000 4 4 1 3,679 2000 $549,000 $549,000 4 3 0 3,751 1999 $499,000 $450,000 4 3 1 2,825 1997 $449,000 $390,000 4 3 1 3,277 2002 $449,000 $429,000 4 4 0 3,203 2015 $435,000 $424,000 3 3 0 3,546 1998 $299,900 $305,100
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between December 1, 2017 and February 28, 2018
How Much Does Waiting To Buy Your Next Home Cost You?
KEY TRENDS
Source: Keeping Current Matters, March 2018
Date Today 2019
Mortgage
Interest Rate*
$500,000 4.0% $521,000 4.9% DIFFERENCE IN MONTHLY PAYMENT $378.01
P&I** $2,387.08 $2,765.09
*Average Commitment Rate Per Freddie Mac. **Principle and Interest Payment
KEY TRENDS
Four Reasons to Sell Your Home This Spring Source: Keeping Current Matters, March 2018
#1 - BUYER DEMAND WILL REMAIN STRONG
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 market for a listing was only 42 days last month!
#2 - there is less competition now
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
Prices are projected to appreciate by 4.3% 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.
#4 - IT’S TIME TO MOVE ON WITH YOUR LIFE 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 start living the life you desire!
Extensive Domestic & Global Exposure (EDGE™) Smart Marketing, Extensive Exposure, and Tailored Strategies to Sell Your Home Global reach with boutique style is what you can expect when working with Engel & Völkers here and around the world - and we’ve sharpened our EDGE. Committed to delivering the highest level of customer service, we provide Extensive Domestic & Global Exposure (EDGE) designed to maximize exposure of your listing to qualified, targeted buyers worldwide with the utmost care and competency. • Highly trusted strategic online and mobile marketing partners with a combined 500 million website and mobile views per month • A global network spanning more than 30 countries with 9,000 Advisors in 750 shops around the world • White-glove professionalism and local market expertise of your dedicated Advisor Let us provide the EDGE you need to sell your home. Contact the Linda Rudd Team for a complimentary, no-obligation home valuation.
TECH FOCUS
THE STATE
O UN N D T E R R A C T
Our Portfolio of Fine Properties in Belfair
of the Belfair Real Estate Market
C
March 2018
KEY METRICS 33 Manchester Court, Belfair (Land/Lot)
51 Manchester Court, Belfair
280 Bamberg Drive, Belfair
4 Bedrooms | 4.5 Bathrooms | 3,874 Htd. SqFt | $599,000
4
$420,000
95.09%
523
Total Sales
Median Price
Sale to List Price
Median Days on Market
64 Lexington Drive, Belfair (Land/Lot)
4 Bedrooms | 4.5 Bathrooms | 3,423 Htd. SqFt | $729,000 0.59 Acres | Lake View | $30,000
D L
O S
Greater Bluffton Real Estate Market Overview
O
D L
L O S
D S
24 Belmeade Drive, Belfair
D
5 Bedrooms | 5 Bathrooms | 2,511 Htd. SqFt | $465,000
In Belfair, four homes closed in the first two months of 2018, compared to five homes which closed during the same time in 2017. January and February 2018’s total dollar volume was $1.694M, down compared to $2.995M in 2017. Supply and demand: as of March 2nd, 2018, there are 37 Belfair homes listed for sale with an average of 3.17 homes selling per month over the last six months. That translates into a 11.67-month supply, considered by industry experts to be a buyer’s market. There are seven homes under contract in Belfair.
S
18 W Cottage Circle, Belfair
O L
O L
D
0.30 Acres | Golf View | $1
S
S
O L
D
4 Bedrooms | 3 Bathrooms | 3,075 Htd. SqFt | $537,000
February 2018 in Review
ACTIVE LISTINGS IN GREATER BLUFFTON
730 12 Richland Drive, Belfair
27 E Summerton Drive, Belfair
YTD Greater Bluffton Home Sales
292 Bamberg Drive, Belfair
4 Bedrooms | 3.5 Bathrooms | 3,277 Htd. SqFt | $429,000 4 Bedrooms | 4.5 Bathrooms | 3,888 Htd. SqFt | $710,000 4 Bedrooms | 4.5 Bathrooms | 4,195 Htd. SqFt | $610,000
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 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 February 28 for Each Year
Year
Number of Homes Sold
Median Price
2013
195
$239,000
2014
178
$240,000
2015
198
$249,000
2016
229
$279,000
2017
237
$298,000
2018
265
$310,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first two months, according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, the first two months of homes sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2006 at 148 sales. As you can see in the chart to the left in first two months of 2018 though, 265 homes were sold, bettering the pre-recession peak by an extraordinary 79%! As the demand for Greater Bluffton continues to outpace supply, the median price has risen 4% 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 March 7, 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.