THE STATE
Our Portfolio of Fine Colleton River Homes O UN N D T E R R A C T
of the Colleton River Real Estate Market
C
March 2018
KEY METRICS
February 2018 in Review
In Colleton River, only one home closed in the first two months of 2018; the same being true of this time last year. January and February 2018’s total dollar volume was $700K, about the same compared to $650K in 2017. Supply and demand: as of March 2nd, 2018, there are 30 Colleton River homes listed for sale with an average of 1.17 home selling per month over the last six months. That translates into a 25.64-month supply, considered by industry experts to be a very strong buyer’s market. There are currently three homes under contract in Colleton River.
$700,000
96.55%
39
Total Sales
Median Price
Sale to List Price
Median Days on Market
L
R PR O I V C E E M E
D
N
T
Top Quality and Golf Prestige Offered on a peaceful cul-de-sac street on a sweeping golf course vista is this exceptional home with extensive woodwork and trim. The kitchen is a “ten” with high-end cabinetry, a breakfast bar, granite counters, stainless steel appliances, a gas cooktop, a double oven, a wine closet and sunlit breakfast dining – open to the spacious family room. The bright family room is crowned with a brick-surround fireplace and views out to the pool and beyond. More entertaining options are available in the open dining room with a butler’s pantry and living room right off the family room. The master suite includes his ‘n hers baths and closets. An office, guest suites, 2nd laundry room, elevator, and a pool and spa are just a taste of the home’s amenities. 12 Ballybunion Way, Colleton River 4 Bedrooms | 5 Full and 2 Half Bathrooms | 6,500 Htd. SqFt | $1,199,500
1
IM
P
S
O
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
730 1 Spring Hill Court, Colleton River
4 Spring Hill Court, Colleton River
41 Colleton River Drive, Colleton River
5 Bedrooms | 5.5 Bathrooms | 4,702 Htd. SqFt | $835,000 4 Bedrooms | 4.5 Bathrooms | 5,543 Htd. SqFt | $860,000 4 Bedrooms | 4 Bathrooms | 3,800 Htd. SqFt | $700,000
COMMUNITY SPECIALIST
The Linda Rudd Team is your Colleton River Specialist. We’ve brought buyers to, and sold, over 35 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 Greater Bluffton Home Sales 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.
Colleton River Home Listings
Source: Hilton Head Multiple Listing Service, March 2018
Median Price of Homes Sold Each Year
Median Prices of Homes Sold Hilton Head Island/Bluffton 2005-2017
$500,000 $430,000
$400,000
$378,000 $383,000
$300,000
$283,000
$259,000
17
20
16
20
15
20
14
20
13
20
12
20
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!
11
#4 - IT’S TIME TO MOVE ON WITH YOUR LIFE
20
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.
10
#3 - THERE WILL NEVER BE A BETTER TIME TO MOVE UP
20
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.
09
#2 - there is less competition now
20
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!
08
#1 - BUYER DEMAND WILL REMAIN STRONG
$275,000
$200,000 20
Source: Keeping Current Matters, March 2018
$280,000
$266,000
How Much Does Waiting To Buy Your Next Home Cost You?
KEY TRENDS
Source: Keeping Current Matters, March 2018
Active - On the Market Pending - Under Contract Sold - Closed Between December 1, 2017 and February 28, 2018
Four Reasons to Sell Your Home This Spring
$322,000 $305,000
$253,000
Because of the sustained improvement of the last seven years in the number of sales, the median price of homes, according to MLS data, is on the way up. The median price of homes sold in 2017 was 3.4% over 2016. The good news is that homes are still 23% below the Pre-Recession peak set in 2005.
Definitions for Listings
KEY TRENDS
$333,000
$325,000
07
Deep Water Deep Water Marsh, Pool Deep Water, Marsh Deep Water, River Marsh, River Deep Water, Marsh Golf, Marsh Marsh Deep Water, Marsh Golf, Marsh Marsh, River Golf Golf, Marsh Lagoon, Lake Golf Marsh Golf, Lagoon Lake Golf, Lagoon Golf, Lagoon Golf, Lagoon Golf Golf Lagoon Marsh Golf, Lagoon Golf, Lagoon Golf Lagoon, Landscape Golf, Lagoon Golf Golf Golf Golf, Marsh Golf, Lagoon Golf Marsh, River
20
5 High Ponds Lane 91 Inverness Drive 121 Inverness Drive 87 Oak Tree Road 56 Magnolia Blossom Drive 29 Mulberry Road 30 Middleton Gardens Place 4 Middleton Gardens Place 14 Wedgewood Circle 53 Hawthorne Road 21 Hanover Way 17 Middleton Gardens Place 26 Inverness Drive 15 Hanover Way 5 Inverness Drive 82 Inverness Drive 9 Stoney Park Lane 4 Spring Hill Court 75 Inverness Drive 1 Spring Hill Court 54 Hawthorne Road 57 Magnolia Blossom Drive 44 Colleton River Drive 9 Magnolia Blossom Drive 50 Hawthorne Road 9 Hanover Way 55 Colleton River Drive 23 Hampton Lane 7 Millbrook Court 4 Fairfield Court 15 Ashley Hall Drive 12 Ballybunion Way 12 Lawsons Pond Court 8 Ballybunion Way 10 Spring Hill Court 7 Ballybunion Way 56 Inverness Drive 41 Colleton River Drive
06
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
20
VIEW
05
ADDRESS
KEY TRENDS
Home Prices Are On Their Way Up 3.4% Over The Previous Year!
20
STATUS
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 5 4 2 7,944 1997 $3,900,000 --4 4 1 7,003 2009 $3,295,000 --5 6 1 5,681 2007 $2,995,000 --4 4 2 6,628 2000 $2,950,000 --5 5 1 5,367 1996 $2,910,000 --4 4 1 5,075 2006 $1,499,999 --4 5 1 4,903 1996 $1,429,000 --4 4 1 5,218 2017 $1,425,000 --4 4 1 4,443 1999 $1,400,000 --5 4 1 5,904 2003 $1,399,000 --6 6 1 6,210 2001 $1,349,000 --4 4 1 5,392 2002 $1,349,000 --3 3 1 4,250 2018 $1,259,000 --4 4 1 5,064 2008 $1,224,000 --4 4 1 3,531 2017 $987,000 --4 4 1 4,452 2000 $895,000 --4 5 1 3,898 2000 $885,000 --4 4 1 5,543 1995 $860,000 --4 4 1 4,120 2004 $849,000 --5 5 1 4,702 2000 $835,000 --5 5 1 3,700 2013 $799,000 --5 5 0 4,515 1995 $795,000 --4 4 0 3,354 2000 $795,000 --3 3 1 3,720 1999 $749,000 --4 4 1 4,406 2000 $739,000 --4 4 0 3,252 1993 $729,000 --4 4 1 3,242 1994 $725,000 --3 3 1 3,732 1994 $649,000 --4 4 1 3,237 2016 $575,000 --4 3 1 4,719 2000 $529,000 --3 3 1 4,018 1997 $499,900 --4 5 2 6,500 2002 $1,199,500 --4 4 1 4,100 2015 $1,199,000 --4 4 1 4,300 2006 $699,900 --4 5 0 3,800 2011 $1,250,000 $1,150,000 4 5 1 6,426 2001 $1,195,000 $1,133,333 4 4 1 4,094 2004 $850,000 $850,000 4 4 0 3,800 1998 $725,000 $700,000
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
Colleton River Home Listings
Source: Hilton Head Multiple Listing Service, March 2018
Median Price of Homes Sold Each Year
Median Prices of Homes Sold Hilton Head Island/Bluffton 2005-2017
$500,000 $430,000
$400,000
$378,000 $383,000
$300,000
$283,000
$259,000
17
20
16
20
15
20
14
20
13
20
12
20
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!
11
#4 - IT’S TIME TO MOVE ON WITH YOUR LIFE
20
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.
10
#3 - THERE WILL NEVER BE A BETTER TIME TO MOVE UP
20
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.
09
#2 - there is less competition now
20
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!
08
#1 - BUYER DEMAND WILL REMAIN STRONG
$275,000
$200,000 20
Source: Keeping Current Matters, March 2018
$280,000
$266,000
How Much Does Waiting To Buy Your Next Home Cost You?
KEY TRENDS
Source: Keeping Current Matters, March 2018
Active - On the Market Pending - Under Contract Sold - Closed Between December 1, 2017 and February 28, 2018
Four Reasons to Sell Your Home This Spring
$322,000 $305,000
$253,000
Because of the sustained improvement of the last seven years in the number of sales, the median price of homes, according to MLS data, is on the way up. The median price of homes sold in 2017 was 3.4% over 2016. The good news is that homes are still 23% below the Pre-Recession peak set in 2005.
Definitions for Listings
KEY TRENDS
$333,000
$325,000
07
Deep Water Deep Water Marsh, Pool Deep Water, Marsh Deep Water, River Marsh, River Deep Water, Marsh Golf, Marsh Marsh Deep Water, Marsh Golf, Marsh Marsh, River Golf Golf, Marsh Lagoon, Lake Golf Marsh Golf, Lagoon Lake Golf, Lagoon Golf, Lagoon Golf, Lagoon Golf Golf Lagoon Marsh Golf, Lagoon Golf, Lagoon Golf Lagoon, Landscape Golf, Lagoon Golf Golf Golf Golf, Marsh Golf, Lagoon Golf Marsh, River
20
5 High Ponds Lane 91 Inverness Drive 121 Inverness Drive 87 Oak Tree Road 56 Magnolia Blossom Drive 29 Mulberry Road 30 Middleton Gardens Place 4 Middleton Gardens Place 14 Wedgewood Circle 53 Hawthorne Road 21 Hanover Way 17 Middleton Gardens Place 26 Inverness Drive 15 Hanover Way 5 Inverness Drive 82 Inverness Drive 9 Stoney Park Lane 4 Spring Hill Court 75 Inverness Drive 1 Spring Hill Court 54 Hawthorne Road 57 Magnolia Blossom Drive 44 Colleton River Drive 9 Magnolia Blossom Drive 50 Hawthorne Road 9 Hanover Way 55 Colleton River Drive 23 Hampton Lane 7 Millbrook Court 4 Fairfield Court 15 Ashley Hall Drive 12 Ballybunion Way 12 Lawsons Pond Court 8 Ballybunion Way 10 Spring Hill Court 7 Ballybunion Way 56 Inverness Drive 41 Colleton River Drive
06
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
20
VIEW
05
ADDRESS
KEY TRENDS
Home Prices Are On Their Way Up 3.4% Over The Previous Year!
20
STATUS
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 5 4 2 7,944 1997 $3,900,000 --4 4 1 7,003 2009 $3,295,000 --5 6 1 5,681 2007 $2,995,000 --4 4 2 6,628 2000 $2,950,000 --5 5 1 5,367 1996 $2,910,000 --4 4 1 5,075 2006 $1,499,999 --4 5 1 4,903 1996 $1,429,000 --4 4 1 5,218 2017 $1,425,000 --4 4 1 4,443 1999 $1,400,000 --5 4 1 5,904 2003 $1,399,000 --6 6 1 6,210 2001 $1,349,000 --4 4 1 5,392 2002 $1,349,000 --3 3 1 4,250 2018 $1,259,000 --4 4 1 5,064 2008 $1,224,000 --4 4 1 3,531 2017 $987,000 --4 4 1 4,452 2000 $895,000 --4 5 1 3,898 2000 $885,000 --4 4 1 5,543 1995 $860,000 --4 4 1 4,120 2004 $849,000 --5 5 1 4,702 2000 $835,000 --5 5 1 3,700 2013 $799,000 --5 5 0 4,515 1995 $795,000 --4 4 0 3,354 2000 $795,000 --3 3 1 3,720 1999 $749,000 --4 4 1 4,406 2000 $739,000 --4 4 0 3,252 1993 $729,000 --4 4 1 3,242 1994 $725,000 --3 3 1 3,732 1994 $649,000 --4 4 1 3,237 2016 $575,000 --4 3 1 4,719 2000 $529,000 --3 3 1 4,018 1997 $499,900 --4 5 2 6,500 2002 $1,199,500 --4 4 1 4,100 2015 $1,199,000 --4 4 1 4,300 2006 $699,900 --4 5 0 3,800 2011 $1,250,000 $1,150,000 4 5 1 6,426 2001 $1,195,000 $1,133,333 4 4 1 4,094 2004 $850,000 $850,000 4 4 0 3,800 1998 $725,000 $700,000
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
THE STATE
Our Portfolio of Fine Colleton River Homes O UN N D T E R R A C T
of the Colleton River Real Estate Market
C
March 2018
KEY METRICS
February 2018 in Review
In Colleton River, only one home closed in the first two months of 2018; the same being true of this time last year. January and February 2018’s total dollar volume was $700K, about the same compared to $650K in 2017. Supply and demand: as of March 2nd, 2018, there are 30 Colleton River homes listed for sale with an average of 1.17 home selling per month over the last six months. That translates into a 25.64-month supply, considered by industry experts to be a very strong buyer’s market. There are currently three homes under contract in Colleton River.
$700,000
96.55%
39
Total Sales
Median Price
Sale to List Price
Median Days on Market
L
R PR O I V C E E M E
D
N
T
Top Quality and Golf Prestige Offered on a peaceful cul-de-sac street on a sweeping golf course vista is this exceptional home with extensive woodwork and trim. The kitchen is a “ten” with high-end cabinetry, a breakfast bar, granite counters, stainless steel appliances, a gas cooktop, a double oven, a wine closet and sunlit breakfast dining – open to the spacious family room. The bright family room is crowned with a brick-surround fireplace and views out to the pool and beyond. More entertaining options are available in the open dining room with a butler’s pantry and living room right off the family room. The master suite includes his ‘n hers baths and closets. An office, guest suites, 2nd laundry room, elevator, and a pool and spa are just a taste of the home’s amenities. 12 Ballybunion Way, Colleton River 4 Bedrooms | 5 Full and 2 Half Bathrooms | 6,500 Htd. SqFt | $1,199,500
1
IM
P
S
O
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
730 1 Spring Hill Court, Colleton River
4 Spring Hill Court, Colleton River
41 Colleton River Drive, Colleton River
5 Bedrooms | 5.5 Bathrooms | 4,702 Htd. SqFt | $835,000 4 Bedrooms | 4.5 Bathrooms | 5,543 Htd. SqFt | $860,000 4 Bedrooms | 4 Bathrooms | 3,800 Htd. SqFt | $700,000
COMMUNITY SPECIALIST
The Linda Rudd Team is your Colleton River Specialist. We’ve brought buyers to, and sold, over 35 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 Greater Bluffton Home Sales 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.