THE STATE
N M E A W R T K O E T
IM P
R PR O I V C E E M E
N
C O S M O IN O G N
T
Our Portfolio of Fine Properties in Belfair
of the Belfair Real Estate Market May 2018
KEY METRICS
S
O L
$465,000
95.18%
234
Total Sales
Median Price
Sale to List Price
Median Days on Market
Greater Bluffton Real Estate Market Overview
D
L O S
13
4 Bedrooms | 4.5 Bathrooms | 3,423 Htd. SqFt | $729,000
L
D
D L O
In Belfair, 13 homes closed in the first four months of 2018, compared to seven homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $6,454,604, up compared to $4,113,998 for the same period in 2017. Supply and demand: as of May 1st, 2018, there are 31 Belfair homes listed for sale with an average of 3.67 homes selling per month over the last six months. That translates into a 8.45-month supply, considered by industry experts to be a buyer’s market. There are 12 homes under contract in Belfair.
24 Belmeade Drive, Belfair
O
S
18 W Cottage Circle, Belfair
4 Bedrooms | 4.5 Bathrooms | 3,874 Htd. SqFt | $545,000 5 Bedrooms | 5 Bathrooms | 2,511 Htd. SqFt | $465,000
S
4 Bedrooms | 4 Bathrooms | 2,466 Htd. SqFt | $347,000
D
D
D O L S
280 Bamberg Drive, Belfair
35 Newberry Court, Belfair
O L
51 Manchester Court, Belfair
4 Bedrooms | 3.5 Bathrooms | 3,700 Htd. SqFt | $659,000 4 Bedrooms | 3 Bathrooms | 3,075 Htd. SqFt | $519,900
S
217 Summerton Drive, Belfair
First Four Months of 2018 in Review
ACTIVE LISTINGS IN GREATER BLUFFTON
716 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 April 30 for Each Year
Year
Number of Homes Sold
Median Price
2013
448
$226,000
2014
395
$245,000
2015
474
$255,000
2016
562
$273,000
2017
570
$295,000
2018
654
$302,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first four 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 four months of homes sales on the Mainland, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2006 at 341 sales. As you can see in the chart to the left, in first four months of 2018, 654 homes were sold, almost doubling the pre-recession peak! As the demand for the Mainland continues to outpace supply, the median price has risen 2.4% 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 May 2, 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 Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending 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 Blvd 7 Cooper Court 30 Lady Slipper Island Drive 52 Richland Drive 282 Belfair Oaks Boulevard 47 Cumberland Drive 18 Lady Slipper Island Court 54 Cumberland Drive 7 Abbeville Court 35 Cumberland Drive 19 Lexington Drive 50 Lady Slipper Island Drive 161 Summerton Drive 211 Summerton Drive 92 Cumberland Drive 42 Cumberland Drive 13 Oconee Court 276 Bamberg Drive 79 Belfair Oaks Boulevard 88 Cumberland Drive 16 Newberry Court 158 Summerton Drive 48 Newberry Court 51 Manchester Court 7 E Summerton Drive 145 Summerton Drive 35 Newberry Court 157 Belfair Oaks Boulevard 251 Belfair Oaks Boulevard 95 Cumberland Drive 10 Berkeley Court 286 Belfair Oaks Boulevard 26 Lexington Drive 17 Belmeade Drive 81 Lexington Drive 20 E Cottage Circle 17 E Summerton Court 2 Cumberland Drive 11 Kershaw Drive 11 E Summerton Court 45 Richland Drive 24 Belmeade Drive 280 Bamberg Drive 129 Belfair Oaks Boulevard 223 Summerton Drive 21 Lexington Drive 18 W Cottage Circle 25 Belmeade Drive 281 Belfair Oaks Boulevard 61 Cumberland Drive 15 Newberry Court 291 Belfair Oaks Boulevard
Deep Water, Marsh Deep Water, Golf Marsh, River Golf, Lake Wooded Deep Water, Marsh Marsh, River Deep Water, Golf Lake Marsh, River Golf, Wooded Lake Landscape, Wooded Golf, Lagoon Marsh, River Lagoon Lake Golf, Marsh Golf, Landscape Golf Golf Golf, Lagoon Golf, Marsh Landscape Landscape Wooded Golf Golf Landscape Landscape, Wooded Golf, Landscape Golf, Lake Marsh, River Golf, Lake Golf, River Golf, Lagoon Golf, Wooded Golf Marsh, River Landscape, Wooded Golf Lagoon Lagoon, Wooded Marsh, River Landscape, Pool Golf, Pool Golf, Wooded Lagoon Golf, Lagoon Golf, Marsh Golf Lagoon Lake Landscape 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 4 2 5,146 2000 $1,495,000 --4 4 1 5,014 2009 $1,295,000 --5 6 1 7,558 2002 $999,000 --5 4 2 4,980 2014 $995,000 --4 4 2 5,023 1999 $969,000 --4 4 1 3,428 2006 $899,000 --4 4 1 5,200 2007 $849,000 --4 4 1 3,539 2016 $829,000 --3 4 0 4,340 2000 $819,000 --4 4 1 4,647 2000 $795,000 --5 5 1 4,279 2007 $769,900 --5 5 2 5,500 2012 $749,000 --4 4 1 3,510 2017 $749,000 --5 5 1 5,300 1999 $729,000 --5 5 1 4,018 2001 $725,000 --3 2 2 3,612 2016 $719,000 --5 5 1 4,015 2000 $659,000 --4 4 0 3,449 1998 $649,000 --4 4 1 3,702 1998 $599,000 --4 4 0 3,330 2015 $579,000 --4 4 1 3,000 2017 $549,000 --4 3 0 2,531 2007 $519,900 --4 3 0 3,075 2003 $519,900 --4 4 1 3,443 2001 $489,000 --3 3 1 3,013 2000 $440,000 --4 4 0 2,466 2001 $347,000 --5 4 0 2,511 1999 $339,000 --5 4 1 5,100 2017 $1,295,000 --3 3 1 3,935 1999 $849,000 --3 3 1 4,221 2003 $799,900 --4 3 1 4,298 2002 $749,000 --4 4 1 3,814 1999 $729,000 --4 3 1 3,679 1999 $699,000 --4 4 0 3,797 2012 $649,000 --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 1 3,512 2001 $349,000 --4 4 1 4,154 2007 $750,000 $725,000 4 4 1 3,423 2008 $749,000 $729,000 4 4 1 3,874 2001 $599,000 $545,000 4 4 1 3,276 1999 $549,000 $500,000 4 5 1 4,333 2001 $549,000 $530,000 4 4 1 3,679 2000 $549,000 $549,000 5 5 0 2,511 1996 $510,000 $465,000 4 5 1 3,653 2001 $495,000 $446,500 4 3 1 2,825 1997 $449,000 $390,000 3 3 1 3,446 2000 $429,000 $415,000 4 4 0 3,324 2007 $425,500 $405,000 3 3 0 3,546 1998 $299,900 $305,100
How Much Has Your Home Value Increased Over the Last Year?
KEY TRENDS
Source: Keeping Current Matters, May 2018
9.3%
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.7% year-over-year.
8.5%
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
7% 5.4%
The chart to the left shows the four price ranges from the report, as well as each one’s year-over-year growth from February 2017 to February 2018 (the latest data available). It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor that determines how much your home has appreciated over the course of the last year. Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.
LOW PRICE
KEY TRENDS
LOW TO MIDDLE PRICE
MIDDLE TO MODERATE PRICE
BOTTOM LINE
HIGH PRICE
If you are planning to list your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range.
30-Year Fixed-Rate Mortgage Rates Source: Freddie Mac, May 2018
4.5
4.9 4.6
2018 Q4
2018 Q3
2018 Q2 Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2018 and April 30, 2018
FOOD FOR THOUGHT buyers thought they could wait forever because rates were going to stay low forever. They’re starting to realize that if they’re going to buy, they should probably buy now. Rick Palacios Jr., DIRECTOR OF RESEARCH John Burns Real Estate Consulting
2017 - Today actual interest rates
Where they’re going in 2018
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 Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending 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 Blvd 7 Cooper Court 30 Lady Slipper Island Drive 52 Richland Drive 282 Belfair Oaks Boulevard 47 Cumberland Drive 18 Lady Slipper Island Court 54 Cumberland Drive 7 Abbeville Court 35 Cumberland Drive 19 Lexington Drive 50 Lady Slipper Island Drive 161 Summerton Drive 211 Summerton Drive 92 Cumberland Drive 42 Cumberland Drive 13 Oconee Court 276 Bamberg Drive 79 Belfair Oaks Boulevard 88 Cumberland Drive 16 Newberry Court 158 Summerton Drive 48 Newberry Court 51 Manchester Court 7 E Summerton Drive 145 Summerton Drive 35 Newberry Court 157 Belfair Oaks Boulevard 251 Belfair Oaks Boulevard 95 Cumberland Drive 10 Berkeley Court 286 Belfair Oaks Boulevard 26 Lexington Drive 17 Belmeade Drive 81 Lexington Drive 20 E Cottage Circle 17 E Summerton Court 2 Cumberland Drive 11 Kershaw Drive 11 E Summerton Court 45 Richland Drive 24 Belmeade Drive 280 Bamberg Drive 129 Belfair Oaks Boulevard 223 Summerton Drive 21 Lexington Drive 18 W Cottage Circle 25 Belmeade Drive 281 Belfair Oaks Boulevard 61 Cumberland Drive 15 Newberry Court 291 Belfair Oaks Boulevard
Deep Water, Marsh Deep Water, Golf Marsh, River Golf, Lake Wooded Deep Water, Marsh Marsh, River Deep Water, Golf Lake Marsh, River Golf, Wooded Lake Landscape, Wooded Golf, Lagoon Marsh, River Lagoon Lake Golf, Marsh Golf, Landscape Golf Golf Golf, Lagoon Golf, Marsh Landscape Landscape Wooded Golf Golf Landscape Landscape, Wooded Golf, Landscape Golf, Lake Marsh, River Golf, Lake Golf, River Golf, Lagoon Golf, Wooded Golf Marsh, River Landscape, Wooded Golf Lagoon Lagoon, Wooded Marsh, River Landscape, Pool Golf, Pool Golf, Wooded Lagoon Golf, Lagoon Golf, Marsh Golf Lagoon Lake Landscape 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 4 2 5,146 2000 $1,495,000 --4 4 1 5,014 2009 $1,295,000 --5 6 1 7,558 2002 $999,000 --5 4 2 4,980 2014 $995,000 --4 4 2 5,023 1999 $969,000 --4 4 1 3,428 2006 $899,000 --4 4 1 5,200 2007 $849,000 --4 4 1 3,539 2016 $829,000 --3 4 0 4,340 2000 $819,000 --4 4 1 4,647 2000 $795,000 --5 5 1 4,279 2007 $769,900 --5 5 2 5,500 2012 $749,000 --4 4 1 3,510 2017 $749,000 --5 5 1 5,300 1999 $729,000 --5 5 1 4,018 2001 $725,000 --3 2 2 3,612 2016 $719,000 --5 5 1 4,015 2000 $659,000 --4 4 0 3,449 1998 $649,000 --4 4 1 3,702 1998 $599,000 --4 4 0 3,330 2015 $579,000 --4 4 1 3,000 2017 $549,000 --4 3 0 2,531 2007 $519,900 --4 3 0 3,075 2003 $519,900 --4 4 1 3,443 2001 $489,000 --3 3 1 3,013 2000 $440,000 --4 4 0 2,466 2001 $347,000 --5 4 0 2,511 1999 $339,000 --5 4 1 5,100 2017 $1,295,000 --3 3 1 3,935 1999 $849,000 --3 3 1 4,221 2003 $799,900 --4 3 1 4,298 2002 $749,000 --4 4 1 3,814 1999 $729,000 --4 3 1 3,679 1999 $699,000 --4 4 0 3,797 2012 $649,000 --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 1 3,512 2001 $349,000 --4 4 1 4,154 2007 $750,000 $725,000 4 4 1 3,423 2008 $749,000 $729,000 4 4 1 3,874 2001 $599,000 $545,000 4 4 1 3,276 1999 $549,000 $500,000 4 5 1 4,333 2001 $549,000 $530,000 4 4 1 3,679 2000 $549,000 $549,000 5 5 0 2,511 1996 $510,000 $465,000 4 5 1 3,653 2001 $495,000 $446,500 4 3 1 2,825 1997 $449,000 $390,000 3 3 1 3,446 2000 $429,000 $415,000 4 4 0 3,324 2007 $425,500 $405,000 3 3 0 3,546 1998 $299,900 $305,100
How Much Has Your Home Value Increased Over the Last Year?
KEY TRENDS
Source: Keeping Current Matters, May 2018
9.3%
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.7% year-over-year.
8.5%
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
7% 5.4%
The chart to the left shows the four price ranges from the report, as well as each one’s year-over-year growth from February 2017 to February 2018 (the latest data available). It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor that determines how much your home has appreciated over the course of the last year. Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.
LOW PRICE
KEY TRENDS
LOW TO MIDDLE PRICE
MIDDLE TO MODERATE PRICE
BOTTOM LINE
HIGH PRICE
If you are planning to list your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range.
30-Year Fixed-Rate Mortgage Rates Source: Freddie Mac, May 2018
4.5
4.9 4.6
2018 Q4
2018 Q3
2018 Q2 Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2018 and April 30, 2018
FOOD FOR THOUGHT buyers thought they could wait forever because rates were going to stay low forever. They’re starting to realize that if they’re going to buy, they should probably buy now. Rick Palacios Jr., DIRECTOR OF RESEARCH John Burns Real Estate Consulting
2017 - Today actual interest rates
Where they’re going in 2018
THE STATE
N M E A W R T K O E T
IM P
R PR O I V C E E M E
N
C O S M O IN O G N
T
Our Portfolio of Fine Properties in Belfair
of the Belfair Real Estate Market May 2018
KEY METRICS
S
O L
$465,000
95.18%
234
Total Sales
Median Price
Sale to List Price
Median Days on Market
Greater Bluffton Real Estate Market Overview
D
L O S
13
4 Bedrooms | 4.5 Bathrooms | 3,423 Htd. SqFt | $729,000
L
D
D L O
In Belfair, 13 homes closed in the first four months of 2018, compared to seven homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $6,454,604, up compared to $4,113,998 for the same period in 2017. Supply and demand: as of May 1st, 2018, there are 31 Belfair homes listed for sale with an average of 3.67 homes selling per month over the last six months. That translates into a 8.45-month supply, considered by industry experts to be a buyer’s market. There are 12 homes under contract in Belfair.
24 Belmeade Drive, Belfair
O
S
18 W Cottage Circle, Belfair
4 Bedrooms | 4.5 Bathrooms | 3,874 Htd. SqFt | $545,000 5 Bedrooms | 5 Bathrooms | 2,511 Htd. SqFt | $465,000
S
4 Bedrooms | 4 Bathrooms | 2,466 Htd. SqFt | $347,000
D
D
D O L S
280 Bamberg Drive, Belfair
35 Newberry Court, Belfair
O L
51 Manchester Court, Belfair
4 Bedrooms | 3.5 Bathrooms | 3,700 Htd. SqFt | $659,000 4 Bedrooms | 3 Bathrooms | 3,075 Htd. SqFt | $519,900
S
217 Summerton Drive, Belfair
First Four Months of 2018 in Review
ACTIVE LISTINGS IN GREATER BLUFFTON
716 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 April 30 for Each Year
Year
Number of Homes Sold
Median Price
2013
448
$226,000
2014
395
$245,000
2015
474
$255,000
2016
562
$273,000
2017
570
$295,000
2018
654
$302,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first four 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 four months of homes sales on the Mainland, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2006 at 341 sales. As you can see in the chart to the left, in first four months of 2018, 654 homes were sold, almost doubling the pre-recession peak! As the demand for the Mainland continues to outpace supply, the median price has risen 2.4% 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 May 2, 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.