THE STATE of the Rose Hill Real Estate Market
September 2018
KEY METRICS
First Eight Months of 2018 in Review
In Rose Hill: Golf and Estate Side, 29 homes closed in the first eight months of 2018, compared to 37 homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $11,902,850, down compared to $14,542,800 during the same period last year. Supply and demand: as of September 1st, 2018, there are 40 Rose Hill homes listed for sale with an average of 3.6 homes selling per month over the last eight months. That translates into a 11.1-month supply, considered by industry experts to be a strong buyer’s market. There are two homes under contract in Rose Hill and there are currently 24 lots for sale. 13 lots have sold in the last eight months and none are under contract.
29
$340,000
96.19%
113
Total Sales
Median Price
Sale to List Price
Median Days on Market
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
725 How’s the Bluffton Real Estate Market Doing?
YTD Greater Bluffton Home Sales YTD Through August 31 for Each Year
Year
Number of Homes Sold
Median Price
2013
1,060
$229,000
2014
959
$245,000
2015
1,159
$259,000
2016
1,327
$280,000
2017
1,395
$287,000
2018
1,575
$299,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first eight 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 eight months sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2005 at 769 sales. As you can see in the chart to the left, in first eight months of 2018 1,575 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 4.2% 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 September 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.
Rose Hill: Golf and Estate Side 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 Active Active Active Active Active Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
5 Ghost Pony Road 19 Martingale E 10 Hackamore Drive 20 Martingale E 76 Plantation House Drive 6 Longview Lane 2 Amberly 51 Spartina Crescent 9 Kirk Court 197 Rose Hill Way 2 Glenn Road 9 Belfair Point Drive 2 Rosebud Drive 8 Kirk Court 16 Rosebud Drive 2 Mirabell Court 4 Mirabell Court 13 Little Johns Retreat 187 Whiteoaks Circle 34 Whiteoaks Circle 29 Whiteoaks Circle 167 Whiteoaks Circle 234 Club Gate 1 Sweetgum Lane 282 Club Gate 19 Fairway Drive 10 Coventry Court 4 Greenwood Drive 69 Whiteoaks Circle 3 Whiteoaks Circle 48 Pipers Pond Road 6 Sorrelwood Lane 296 Club Gate 13 Pipers Pond Road 193 Whiteoaks Circle 177 Whiteoaks Circle 2 Sorrelwood Lane 20 Coventry Court 34 Sorrelwood Lane 1 Peppertree Lane 192 Whiteoaks Circle 276 Club Gate 14 Ghost Pony Road 7 Kirk Court 190 Whiteoaks Circle 204 Whiteoaks Circle 53 Whiteoaks Circle 1 Greenwood Drive 227 Club Gate 278 Club Gate 23 Sorrelwood Lane 2 Pipers Pond Road 36 Whiteoaks Circle
Wooded Lagoon Landscape Wooded Landscape, Pool Deep Water, Wooded Landscape, Wooded Landscape Landscape, Wooded Lagoon Wooded Marsh Landscape Wooded Lagoon, Wooded Landscape Lake Golf, Lagoon Wooded Golf, Lagoon Golf, Landscape Landscape, Wooded Golf Wooded Landscape Golf Golf, Wooded Landscape Wooded Golf Golf Golf Wooded Lagoon, Landscape Wooded Wooded Wooded Golf, Lagoon Landscape Landscape Golf, Lagoon Wooded Landscape Landscape, Wooded Golf, Lagoon Golf Landscape Golf, Lagoon Landscape Landscape Lagoon Golf, Lagoon Golf, Lagoon
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 8 4 4 4 5 4 5 6 4 4 4 4 5 4 4 4 4 4 4 4 4 3 4 3 3 3 3 3 3 3 4 3 4 3 3 3 4 3 3 3 3 3 4 4 3 4 4 4 3 4 3 3 3
9 7 4 6 7 4 6 6 5 4 5 4 4 3 4 4 3 5 4 4 4 3 4 3 2 2 4 2 3 3 3 2 3 3 3 2 3 2 2 2 3 3 5 4 4 4 4 4 3 3 2 2 2
1 3 1 3 2 1 1 1 1 1 1 1 1 1 1 1 0 1 1 1 1 1 1 1 0 0 1 0 1 1 0 0 0 1 1 0 0 0 0 0 1 1 2 1 1 1 1 1 1 0 0 0 0
10,500 9,620 4,288 5,486 4,574 3,840 4,270 4,000 3,715 3,737 2,721 3,514 4,346 3,870 3,383 3,580 3,233 4,143 2,760 2,682 2,971 2,660 3,801 2,800 1,900 2,257 2,493 1,960 2,312 2,128 2,226 2,178 1,851 2,007 2,013 2,200 1,851 1,970 1,676 1,345 2,220 2,694 4,569 3,282 2,500 3,682 2,600 3,372 2,148 2,171 1,860 1,619 2,240
2002 1994 1985 1992 2001 2000 1991 2002 1996 2005 1983 1999 1996 1989 2001 1996 2001 2006 2014 2000 1998 1999 2007 1999 2018 1997 2001 1988 1988 1984 2001 2000 2018 1991 1994 2000 2018 1993 2002 1995 2018 2016 1995 2002 2018 2004 1999 1984 2008 2017 2001 1998 1993
$1,400,000 $1,350,000 $898,000 $895,000 $859,000 $799,900 $755,000 $739,000 $699,900 $699,000 $699,000 $679,000 $675,000 $675,000 $659,000 $585,000 $569,000 $549,900 $530,000 $489,000 $459,900 $439,000 $429,000 $420,000 $399,000 $399,000 $389,000 $385,000 $375,000 $369,000 $359,000 $354,900 $349,900 $349,900 $349,900 $349,000 $345,165 $334,900 $289,900 $239,900 $494,900 $396,999 $795,000 $697,000 $529,900 $499,000 $449,000 $444,900 $359,000 $354,900 $319,900 $289,000 $285,000
------------------------------------------------------------------------------------$775,000 $697,000 $529,900 $480,000 $424,000 $425,000 $359,000 $340,000 $312,000 $282,000 $292,000
Definitions for Listings ™
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. • 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 Thomas Kersey for a complimentary, no-obligation home valuation.
Active - On the Market Pending - Under Contract Sold - Closed Between May 1, 2018 and August 31, 2018
KEY TRENDS
Source: Hilton Head Multiple Listing Service MedianofPrices ofSold Homes Sold Median Prices Homes Head Island/Bluffton 1st Half Hilton Head Hilton Island/Bluffton 2005-2018 2005-2018 1st Half
$500,000$500,000 Median Price of Homes Sold Each Year
Each Year
Home Prices Are on Their Way Up! Up 4.5% in Just the First Six Months of 2018.
$440,000
$440,000
$419.000
$400,000$400,000
$419.000
$395,000
$331,000
$300,000$300,000
FOOD FOR THOUGHT
$395,000
$330,000
$331,000
home prices continue to rise across the country...with expectations for continued economic growth and further employment gains, the current run of rising prices is likely to continue.
$345,000 $330,000 $345,000
$323,000 $323,000 $260,000 $300,000 $260,000 $300,000 $278,000 $281,000 $278,000 $265,000 $281,000 $262,000 $265,000 $256,000 $262,000 $256,000
david m. blitzer, managing DIRECTOR & Chairman index committee s&p dow jones indices
05
20
20
18 20 17 20 1618 2020 1517 2020 6 1041 202 1315 2020 1214 2020 1113 2020 1012 20 0 2 0911 20 0 2 0810 20 0 2 0709 2020 0608 2020 0507 20 0 2 06
$200,000 $200,000
Because of the sustained improvement of the last nine 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 just the first half of 2018 was 4.5% over 2017. If the rapid pace of sales continue, we could see an annualized appreciation rate in the neighborhood of 5%. The good news is that homes are still bargain-priced at 22% below the Pre-Recession peak set in 2005. Avoid paying more next year! Those wanting to own real estate in the Hilton Head Island - Bluffton area may want to seriously consider buying now. If the appreciation rate hits 5% this year, the extra cost of waiting a year to buy a $500,000 home would be $25,000.
KEY TRENDS
The Cost Across Time: Average Interest Rate and Mortgage Payment Source: Freddie Mac
70’s
80’s
90’s
2000’s
8.86% $1,986
12.7% $2,707
8.12% $1,855
6.29% $1,546
TODAY 4.55% $1,274
Even with the projection that Interest Rates will increase by a half a point in the next 12 months, we are still well below historic numbers!
Lock in a low rate now! The average 30-year fixed mortgage rates and the approximate payment for a $250,000 mortgage. Payments are principal and interest only based on a $250,000 fully amoritizing mortgage.
Our Portfolio of Fine Homes in Rose Hill
Classic Regal Southern Estate With this truly exquisite Rose Hill retreat, “perfect” comes to mind as does “impeccable design”. Its truly stunning curb appeal, achieved by unique neo-classical architecture and a three-and-a-half acre lushly landscaped domain with wraparound lagoon, certainly sets the stage for an exquisite interior of superior quality. Step inside and be transported to another time and place all reminiscent of a bygone era of Southern sophistication. The estate features an open floor plan, massive and intricate millwork, Viking stainless steel appliances, hardwood floors and high ceilings. The master suite and bathroom boasts 1,050 square feet of luxury. An equestrian dream, this property has been approved for stable and horses and riding trails abound. 19 Martingale East, Rose Hill Plantation
4 Bedrooms | 4 Full & 3 Half Bathrooms | 9,620 Htd. SqFt • 3.2 Acres | $1,350,000
Beautifully wooded equestrian lot on the Estate Side of Rose Hill Plantation surrounded by common area land and equestrian trails. This beautiful 1.69 acre lot is located just down the street from the Rose Hill Equestrian Center and Polo Grounds. Beautiful mature trees and total privacy make this an ideal lot for building your dream home. Rose Hill does not have a time limit on construction for this lot so buy it now, while the market is heating up, and hold on to it until you are ready to build. 15 Ghost Pony Road, Rose Hill Plantation Land/Lot | Wooded | 1.69 Acres | $152,000 COMMUNITY SPECIALIST
Thomas Kersey is your Rose Hill Real Estate Specialist. Contact me for a complimentary home valuation and discover how I can increase your property’s visibility both nationally and internationally through Engel & Völkers global real estate network, unique digital platforms, social media presence, and local market expertise.
Thomas Kersey, Real Estate Advisor 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
Telephone • 843-258-5597 Email • thomas.kersey@evusa.com Website • www.thomaskersey.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.
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