THE STATE
Our Portfolio of Fine Colleton River Homes N M E A W R T K O E T
of the Colleton River Real Estate Market
August 2018
KEY METRICS
First Seven Months of 2018 in Review
In Colleton River, 13 homes closed in the first seven months of 2018, compared to 20 homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $11,352,500, down compared to $17,419,150 during the same period last year. Supply and demand: as of August 1st, 2018, there are 35 Colleton River homes listed for sale with an average of 1.9 homes selling per month over the last seven months. That translates into a 18.4-month supply, considered by industry experts to be a very strong buyer’s market. There are three homes under contract in Colleton River and there are currently 32 lots for sale. Seven lots have sold in the last seven months and three are under contract.
13
$775,000
93.83%
190
Total Sales
Median Price
Sale to List Price
Median Days on Market
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
690 Designed by a master, this unique architectural achievement showcases beautiful craftsmanship with custom cabinetry and trim throughout. An engaging open floor plan is enhanced by exceptional wood floors and uniquely couples soaring designer ceilings with endless glass to create a truly welcoming ambiance. No expense was spared creating the ideal kitchen, a genuine chef’s delight, which includes high-end stainless steel appliances. Luxuriate in a master suite done to the nines or sit back, relax and experience the ultimate home theatre. A tranquil marsh/golf vista from the wrap-around deck offers ultimate privacy. This home is a paramount property. 21 Hanover Way, Colleton River 5 Bedrooms | 6.5 Bathrooms | 6,367 Htd. SqFt | $1,280,000
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 July 31 for Each Year
Year
Number of Homes Sold
Median Price
2013
896
$229,000
2014
817
$245,000
2015
992
$258,000
2016
1,142
$277,000
2017
1,201
$288,000
2018
1,345
$299,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first seven 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 seven months sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2005 at 652 sales. As you can see in the chart to the left, in the first seven months of 2018 1,345 homes were sold, more than 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 August 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 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 Sold Sold Sold Sold Sold Sold Sold
28 Seven Oaks Drive 91 Inverness Drive 5 High Ponds Lane 121 Inverness Drive 87 Oak Tree Road 165 Inverness Drive 21 Mulberry Road 12 Turnberry Way 7 Laurel Hill Court 14 Wedgewood Circle 30 Middleton Gardens Place 26 Hampton Lane 50 Oak Tree Road 21 Hanover Way 26 Inverness Drive 53 Hawthorne Road 12 Bayley Road 15 Hanover Way 16 Spring Hill Court 4 Mansfield Circle 5 Laurel Hill Court 4 Laurel Hill Court 9 Stoney Park Lane 6 Whitehall Drive 7 Kittansett Court 26 Middleton Gardens Place 4 Spring Hill Court 1 Spring Hill Court 44 Colleton River Drive 9 Hanover Way 55 Colleton River Drive 36 Hawthorne Road 3 Hawthorne Road 19 Hawthorne Road 15 Ashley Hall Drive 29 Mulberry Road 24 Ballybunion Way 9 Magnolia Blossom Drive 4 Middleton Gardens Place 17 Middleton Gardens Place 6 Somerset Point 75 Inverness Drive 50 Hawthorne Road 23 Hampton Lane 7 Millbrook Court
Deep Water, River Deep Water Deep Water Deep Water, River Deep Water, Marsh Deep Water, Ocean Marsh, Sound Marsh, River Golf, Marsh Marsh Deep Water, Marsh Marsh Lake Marsh Golf Deep Water, Marsh Lagoon Golf, Marsh Deep Water, Golf Golf, Lagoon Golf, Marsh Golf, Landscape Marsh Golf, Lagoon Golf, Lagoon Golf, Marsh Golf, Lagoon Golf, Lagoon Golf Marsh Golf, Lagoon Golf, Marsh Golf, Wooded Golf, Lagoon Golf, Lagoon Marsh, River Golf, Lagoon Golf Golf, Marsh Marsh, River Golf, Marsh Lake Lagoon Golf, Lagoon Golf
The Number One Reason to Put Your House on the Market Today!
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 6 13 7 20,100 2004 $9,000,000 --4 5 1 7,003 2009 $3,295,000 --5 6 2 7,944 1997 $2,900,000 --5 7 1 6,666 2007 $2,499,000 --4 6 2 6,628 2000 $2,495,000 --4 6 1 5,436 2011 $2,099,000 --4 6 2 5,500 2012 $1,899,000 --5 6 1 6,175 1999 $1,495,000 --5 6 2 5,161 1995 $1,490,000 --4 5 1 4,443 1999 $1,400,000 --4 6 1 4,903 1996 $1,399,000 --5 6 1 6,013 2007 $1,299,000 --4 5 1 3,987 2016 $1,290,000 --5 7 1 6,367 2001 $1,280,000 --3 4 1 4,250 2018 $1,259,000 --5 5 1 5,904 2003 $1,249,000 --6 7 1 5,580 2002 $1,199,000 --4 5 1 5,064 2008 $1,150,000 --5 6 1 4,569 1994 $1,049,000 --4 5 1 5,048 2005 $999,900 --4 5 0 4,088 1995 $899,900 --4 4 1 3,409 2016 $895,000 --4 6 1 3,898 2000 $885,000 --4 5 1 4,000 2012 $875,000 --4 5 1 4,200 2000 $850,000 --4 5 1 4,250 1999 $849,000 --4 5 1 5,543 1995 $820,000 --5 6 1 4,702 2000 $799,900 --4 4 0 3,354 2000 $795,000 --4 4 0 3,252 1993 $729,000 --4 5 1 3,242 1994 $699,000 --4 4 0 3,845 1995 $699,000 --4 5 1 3,963 2004 $679,900 --4 5 1 4,278 2008 $650,000 --3 4 1 3,898 1997 $549,000 --4 5 1 5,075 2006 $1,499,999 --5 6 2 5,820 2005 $1,100,000 --3 4 1 3,720 1999 $749,000 --4 5 1 5,218 2017 $1,425,000 $1,375,000 4 5 1 5,392 2002 $1,315,000 $1,315,000 4 5 1 3,900 2016 $1,300,000 $1,300,000 4 5 1 4,120 2004 $849,000 $778,500 4 5 1 4,406 2000 $739,000 $739,000 3 4 1 3,732 1994 $575,000 $530,000 4 5 1 3,237 2016 $549,900 $500,000
Source: Keeping Current Matters, August 2018
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true. The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In fact, the inventory of homes for sale had fallen year-over-year for 36 consecutive months before posting a modest 0.5% gain last month and has had an upward impact on home prices.
NAR’s Chief Economist Lawrence Yun had this to say, “It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels. Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.” The few houses that are on the market are selling fast! According to NAR’s Realtors Confidence Index, properties were typically on the market for 26 days. Bottom Line - If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market!
KEY TRENDS
Americans Rank Real Estate as the Best Investment for Five Years Running!
Source: Gallup via Keeping Current Matters, August 2018
35%
34%
34% Real Estate
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between April 1, 2018 and July 31, 2018
Giving You The 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.
30%
• 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.
26% STOCKS
25% 20%
19% 17%
17% GOLD
15% 10%
34% REAL ESTATE 26% STOCK MARKET 17% GOLD
15% SAVINGS 14%
• 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
KEY TRENDS
2011
2012
2013
2014
2015
2016
2017
2018
15% SAVINGS ACCOUNT
Real estate has come a long way since 2011, when 34% of Americans favored gold as the best investment. Of the four listed above real estate is the only investment you can live in. Generations also agree that real estate is the best investment! Millenials - 29% | Generation X - 37% | Baby Boomers - 34%
Colleton River 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 Sold Sold Sold Sold Sold Sold Sold
28 Seven Oaks Drive 91 Inverness Drive 5 High Ponds Lane 121 Inverness Drive 87 Oak Tree Road 165 Inverness Drive 21 Mulberry Road 12 Turnberry Way 7 Laurel Hill Court 14 Wedgewood Circle 30 Middleton Gardens Place 26 Hampton Lane 50 Oak Tree Road 21 Hanover Way 26 Inverness Drive 53 Hawthorne Road 12 Bayley Road 15 Hanover Way 16 Spring Hill Court 4 Mansfield Circle 5 Laurel Hill Court 4 Laurel Hill Court 9 Stoney Park Lane 6 Whitehall Drive 7 Kittansett Court 26 Middleton Gardens Place 4 Spring Hill Court 1 Spring Hill Court 44 Colleton River Drive 9 Hanover Way 55 Colleton River Drive 36 Hawthorne Road 3 Hawthorne Road 19 Hawthorne Road 15 Ashley Hall Drive 29 Mulberry Road 24 Ballybunion Way 9 Magnolia Blossom Drive 4 Middleton Gardens Place 17 Middleton Gardens Place 6 Somerset Point 75 Inverness Drive 50 Hawthorne Road 23 Hampton Lane 7 Millbrook Court
Deep Water, River Deep Water Deep Water Deep Water, River Deep Water, Marsh Deep Water, Ocean Marsh, Sound Marsh, River Golf, Marsh Marsh Deep Water, Marsh Marsh Lake Marsh Golf Deep Water, Marsh Lagoon Golf, Marsh Deep Water, Golf Golf, Lagoon Golf, Marsh Golf, Landscape Marsh Golf, Lagoon Golf, Lagoon Golf, Marsh Golf, Lagoon Golf, Lagoon Golf Marsh Golf, Lagoon Golf, Marsh Golf, Wooded Golf, Lagoon Golf, Lagoon Marsh, River Golf, Lagoon Golf Golf, Marsh Marsh, River Golf, Marsh Lake Lagoon Golf, Lagoon Golf
The Number One Reason to Put Your House on the Market Today!
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 6 13 7 20,100 2004 $9,000,000 --4 5 1 7,003 2009 $3,295,000 --5 6 2 7,944 1997 $2,900,000 --5 7 1 6,666 2007 $2,499,000 --4 6 2 6,628 2000 $2,495,000 --4 6 1 5,436 2011 $2,099,000 --4 6 2 5,500 2012 $1,899,000 --5 6 1 6,175 1999 $1,495,000 --5 6 2 5,161 1995 $1,490,000 --4 5 1 4,443 1999 $1,400,000 --4 6 1 4,903 1996 $1,399,000 --5 6 1 6,013 2007 $1,299,000 --4 5 1 3,987 2016 $1,290,000 --5 7 1 6,367 2001 $1,280,000 --3 4 1 4,250 2018 $1,259,000 --5 5 1 5,904 2003 $1,249,000 --6 7 1 5,580 2002 $1,199,000 --4 5 1 5,064 2008 $1,150,000 --5 6 1 4,569 1994 $1,049,000 --4 5 1 5,048 2005 $999,900 --4 5 0 4,088 1995 $899,900 --4 4 1 3,409 2016 $895,000 --4 6 1 3,898 2000 $885,000 --4 5 1 4,000 2012 $875,000 --4 5 1 4,200 2000 $850,000 --4 5 1 4,250 1999 $849,000 --4 5 1 5,543 1995 $820,000 --5 6 1 4,702 2000 $799,900 --4 4 0 3,354 2000 $795,000 --4 4 0 3,252 1993 $729,000 --4 5 1 3,242 1994 $699,000 --4 4 0 3,845 1995 $699,000 --4 5 1 3,963 2004 $679,900 --4 5 1 4,278 2008 $650,000 --3 4 1 3,898 1997 $549,000 --4 5 1 5,075 2006 $1,499,999 --5 6 2 5,820 2005 $1,100,000 --3 4 1 3,720 1999 $749,000 --4 5 1 5,218 2017 $1,425,000 $1,375,000 4 5 1 5,392 2002 $1,315,000 $1,315,000 4 5 1 3,900 2016 $1,300,000 $1,300,000 4 5 1 4,120 2004 $849,000 $778,500 4 5 1 4,406 2000 $739,000 $739,000 3 4 1 3,732 1994 $575,000 $530,000 4 5 1 3,237 2016 $549,900 $500,000
Source: Keeping Current Matters, August 2018
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true. The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In fact, the inventory of homes for sale had fallen year-over-year for 36 consecutive months before posting a modest 0.5% gain last month and has had an upward impact on home prices.
NAR’s Chief Economist Lawrence Yun had this to say, “It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels. Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.” The few houses that are on the market are selling fast! According to NAR’s Realtors Confidence Index, properties were typically on the market for 26 days. Bottom Line - If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market!
KEY TRENDS
Americans Rank Real Estate as the Best Investment for Five Years Running!
Source: Gallup via Keeping Current Matters, August 2018
35%
34%
34% Real Estate
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between April 1, 2018 and July 31, 2018
Giving You The 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.
30%
• 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.
26% STOCKS
25% 20%
19% 17%
17% GOLD
15% 10%
34% REAL ESTATE 26% STOCK MARKET 17% GOLD
15% SAVINGS 14%
• 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
KEY TRENDS
2011
2012
2013
2014
2015
2016
2017
2018
15% SAVINGS ACCOUNT
Real estate has come a long way since 2011, when 34% of Americans favored gold as the best investment. Of the four listed above real estate is the only investment you can live in. Generations also agree that real estate is the best investment! Millenials - 29% | Generation X - 37% | Baby Boomers - 34%
THE STATE
Our Portfolio of Fine Colleton River Homes N M E A W R T K O E T
of the Colleton River Real Estate Market
August 2018
KEY METRICS
First Seven Months of 2018 in Review
In Colleton River, 13 homes closed in the first seven months of 2018, compared to 20 homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $11,352,500, down compared to $17,419,150 during the same period last year. Supply and demand: as of August 1st, 2018, there are 35 Colleton River homes listed for sale with an average of 1.9 homes selling per month over the last seven months. That translates into a 18.4-month supply, considered by industry experts to be a very strong buyer’s market. There are three homes under contract in Colleton River and there are currently 32 lots for sale. Seven lots have sold in the last seven months and three are under contract.
13
$775,000
93.83%
190
Total Sales
Median Price
Sale to List Price
Median Days on Market
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
690 Designed by a master, this unique architectural achievement showcases beautiful craftsmanship with custom cabinetry and trim throughout. An engaging open floor plan is enhanced by exceptional wood floors and uniquely couples soaring designer ceilings with endless glass to create a truly welcoming ambiance. No expense was spared creating the ideal kitchen, a genuine chef’s delight, which includes high-end stainless steel appliances. Luxuriate in a master suite done to the nines or sit back, relax and experience the ultimate home theatre. A tranquil marsh/golf vista from the wrap-around deck offers ultimate privacy. This home is a paramount property. 21 Hanover Way, Colleton River 5 Bedrooms | 6.5 Bathrooms | 6,367 Htd. SqFt | $1,280,000
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 July 31 for Each Year
Year
Number of Homes Sold
Median Price
2013
896
$229,000
2014
817
$245,000
2015
992
$258,000
2016
1,142
$277,000
2017
1,201
$288,000
2018
1,345
$299,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first seven 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 seven months sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2005 at 652 sales. As you can see in the chart to the left, in the first seven months of 2018 1,345 homes were sold, more than 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 August 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.