THE STATE of the Colleton River Real Estate Market
January 2017 KEY METRICS 2016 in Review
Happy New Year!
Colleton River Plantation Club’s numbers were mixed in 2016: 22 homes closed, down from 25 in 2015. The total dollar volume of homes sold in 2016 though was $21.343M, up from $18.826M in 2015. Supply and demand: there are currently 32 homes listed for sale with an average of .7 homes selling per month over the last six months. That translates into a 45.7-month supply, considered by industry experts to be a strong buyer’s market. As of January 11, 2017, there were no homes pending/under contract. In the lot realm, 18 lots closed in 2016 versus 13 in 2015, and there are four lots pending/under contract.
How’s the Hilton Head Island - Bluffton Real Estate Market? The Hilton Head Island-Bluffton housing market is on fire. Home sales continue to set all-time records according to statistics from the Hilton Head Area Multiple Listing Service, which includes Hilton Head Island, Bluffton, Okatie, Daufuskie Island, Hardeeville and parts of Beaufort and Ridgeland. In the Boom Years of 2004-2006 prior to The Great Recession, home sales in 2005 set a new annual record of 2631 homes sold. In 2016, though, that record was shattered with 3194 homes sold, the highest year on record. In other positive news, home values in 2016 have appreciated 5.6% from last year. However, they are still 25.1% below the peak set in 2005. With today’s historically low interest rates and prices still way below the peak, it is an extraordinary time to purchase real estate in our area.
s
0
All MLS Colleton River
Historical Median Sales Price Rolling 12-Month Calculation
ms
0
Inventory of Homes For Sale 35 30
Number of Closed Home Sales
Total Value of Homes Closed
40
$25,000,000
32
$20,000,000
24
$15,000,000
16
$10,000,000
25 20 15
E
10
C
8
5 28
0
On 12/31/15
$5,000,000 25
32
On 12/31/16
0
22
1 Twelve Months of 2015 1 Twelve Months of 2016 st
st
$18,826,000
0
$21,343,000
1 Twelve Months of 2015 1 Twelve Months of 2016 st
st
This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2016 through January 10, 2017. 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.
2016 Sales At An All Time High
This has been the best year for home sales...ever! Homes Sold Each Year, 2005-2016 Hilton Head Island/Bluffton
2683
3010
2737
2354
2053
1782
1600
1917
1588
2031
2631
1000
20
20
1500
20
20
2000
20
2500
20
Number of Homes Sold
3000
3194
3500
500
0 16
20
15
20
14
13
12
20
11
20
10
20
09
08
07
06
05
20
KEY TRENDS
Home sales in the Hilton Head Island-Bluffton area in 2016 were the best ever according to historical MLS records.
As depicted in the chart, 3194 homes sold in 2016 far surpassing even the pre-recession peak year of 2005. For the first time ever in the Hilton Head Island-Bluffton area, over 3100 homes were purchased, a new all-time record. If there was ever a good time to sell your house, now is one of those times since the market is so strong. If you want to sell, call your Engel & Völkers Advisor today to get it on the market. Your Engel & Völkers Advisor will not merely list your home, he/she will actually “launch” it with a passionate, aggressive digital marketing plan. There’s nothing like an Engel & Völkers launch!
The Matthew Effect:
Will It Effect Homes Values in Hilton Head and Bluffton? No. While there may be a slight decrease in home sales for a month or two, overall we anticipate minimal impact to what has been a very strong real estate market. Sellers may experience tougher negotiations on price or more questions about their home’s integrity, but there are many things a home seller can do to position their property effectively in the market to maximize value. If your home was not impacted by Hurricane Matthew, or has been repaired to the same or better than before, you should expect to sell if priced right. We have prepared a number of ‘Matthew Effect’ strategies for home sellers that we would be happy to share with you. Feel free to contact me at any time. My information is on the back of this report, or you can download a copy at HiltonHeadBluffton.evusa.com in the Resources section.
Colleton River Home Listings
TOTAL YEAR APPROX. FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS BUILT SQ. FOOTAGE Active 87 Oak Tree Road Deep Water, Marsh 4 6 2 2000 6,628 $3,750,000 --Active 42 Magnolia Blossom Drive Deep Water, River 4 7 1 1995 7,060 $2,450,000 --Active 165 Inverness Drive Deep Water 4 6 1 2011 5,436 $2,395,000 --Active 14 Somerset Point Golf, River 5 7 1 2009 5,860 $1,795,000 --Active 29 Mulberry Road Marsh, River 4 5 1 2006 5,075 $1,699,000 --Active 14 Wedgewood Circle Deep Water, Marsh 5 6 1 1999 6,500 $1,650,000 --Active 17 Middleton Gardens Place Marsh, River 4 5 1 2002 5,392 $1,595,000 --Active 19 Middleton Gardens Place Marsh 4 6 2 2008 5,563 $1,495,000 --Active 94 Inverness Drive Golf, Lagoon 4 5 1 2016 4,200 $1,239,000 --Active 2 Double Eagle Drive Golf, Lagoon 4 5 1 2003 4,720 $1,140,000 --Active 38 Whitehall Drive Marsh 4 5 1 2010 4,350 $1,079,000 --Active 24 Inverness Drive Golf, Lagoon 4 5 1 2016 3,519 $999,000 --Active 4 Honors Court Golf, River 4 5 0 2002 4,451 $995,000 --Active 9 Stoney Park Lane Marsh 4 6 1 2000 3,898 $975,000 --Active 4 Fairfield Court Golf, Lagoon 4 4 1 2000 4,719 $949,000 --Active 6 Brenton Court Marsh, River 5 6 1 2000 5,400 $939,000 --Active 26 Middleton Gardens Place Marsh 4 5 1 1999 4,250 $895,000 --Active 71 Inverness Drive Lagoon, Pool 4 5 0 2001 5,237 $889,000 --Active 50 Inverness Drive Golf, Wooded 4 5 1 2011 4,656 $849,900 --Active 53 Colleton River Drive Golf 5 6 1 1996 2,540 $799,000 --Active 55 Colleton River Drive Golf, Lagoon 4 5 1 1994 3,242 $799,000 --Active 8 Ballybunion Way Golf 4 5 1 2006 4,300 $749,900 --Active 6 Double Eagle Drive Lagoon 5 6 1 2003 4,578 $749,000 --Active 35 Hawthorne Road Golf, Lagoon 3 4 1 1999 4,176 $745,000 --Active 5 Spring Hill Court Golf, Lake 5 5 0 1999 3,928 $699,000 --Active 7 Middleton Gardens Place Golf, Lagoon 4 4 1 1993 3,800 $679,000 --Active 17 Magnolia Blossom Drive Golf 4 5 1 1995 4,185 $649,900 --Active 7 Millbrook Court Golf 4 5 1 2016 3,237 $639,000 --Active 21 Ashley Hall Drive Golf, Lagoon 4 4 1 1994 3,890 $549,000 --Active 15 Ashley Hall Drive Lagoon 3 4 1 1997 3,898 $549,000 --Active 35 Colleton River Drive Golf, Marsh 3 4 1 2006 2,772 $529,000 --Sold 15 Spring Hill Court Golf, Lake 5 5 0 1993 4,648 $599,000 $580,000
STATUS
ADDRESS
VIEW
Colleton River Lot Listings STATUS 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
ADDRESS 93 Inverness Drive 147 Inverness Drive 157 Inverness Drive 10 Turnberry Way 14 Turnberry Way 12 Hampton Lane 162 Inverness Drive 109 Inverness Drive 30 Hampton Lane 30 Magnolia Blossom Dr 6 High Ponds Lane 11 Hanover Way 49 Magnolia Blossom Drive 13 Hanover Way 36 Whitehall Drive 35 Magnolia Blossom Drive 32 Hampton Lane 14 Ballybunion Way 7 Mackays Point 58 Inverness Drive 30 Inverness Drive 5 Kittansett Court 7 Magnolia Blossom Drive 2 Mansfield Circle 8 Laurel Hill Court 7 Retreat Drive
VIEW LIST PRICE CLOSE PRICE Marsh $1,300,000 --Marsh $850,000 --Marsh $800,000 --Marsh $399,900 --Marsh, River $349,000 --Deep Water, River $325,000 --Golf, River $269,000 --Deep Water $219,000 --Marsh, Sound $199,900 --Lagoon, Wooded $199,900 --Lagoon, Wooded $195,000 --Golf, Marsh $169,000 --Golf, River $149,000 --Golf, Marsh $149,000 --Golf, Marsh $129,000 --Golf $89,000 --Landscape, Marsh $74,700 --Golf $30,000 --Golf, Lake $30,000 --Golf $29,000 --Golf, Lagoon $25,000 --Golf, Lagoon $25,000 --Golf $25,000 --Lagoon $25,000 --Golf $24,900 --Golf, Lagoon $20,000 ---
STATUS Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Sold Sold Sold Sold
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between October 1, 2016 and December 31, 2016
ADDRESS 8 Mansfield Circle 34 Hampton Lane 4 Drayton Hall 8 Whitehall Drive 4 Middleburg Court 13 Hawthorne Road 15 Bayley Road 18 Hawthorne Road 3 Retreat Drive 25 Whitehall Drive 18 Bayley Road 6 Edgefield Lane 19 Colleton River Drive 90 Inverness Drive 3 Brenton Court 4 Hanover Way 10 Kittansett Court 3 Middleburg Court 4 High Ponds Lane 15 Hampton Lane 36 Magnolia Blossom Drive 41 Inverness Drive 49 Hawthorne Road 26 Bayley Road 27 Ashley Hall Drive 6 Bayley Road
VIEW Golf, Lagoon Wooded Golf Golf, Lagoon Golf Golf Golf, Lagoon Golf, Lagoon Golf, Lagoon Golf Marsh Golf, Lagoon Golf Golf, Lagoon Lagoon Golf Golf, Lagoon Golf, Lagoon Lake, Wooded Golf, Lagoon Wooded Lake River Golf, Marsh Lagoon Wooded
LIST PRICE CLOSE PRICE $19,900 --$19,000 --$19,000 --$14,500 --$10,000 --$9,900 --$9,500 --$5,000 --$1 --$1 --$1 --$1 --$1 --$1 --$1 --$1 --$1 --$1 --$295,000 --$25,000 --$5,000 --$1 --$399,000 $350,000 $99,900 $60,000 $1 $100 $1 $1
Our Portfolio of Fine Homes for Sale in Colleton River
A Boater’s Paradise This is one of the Hilton Head area’s finest waterfront estates. Sitting on a 1.2 acre high bluff lot with a commanding pristine Colleton River view, this Lee & Miller architectural masterpiece features recently installed dazzling Saturnia flooring, sculptured spaces, soaring ceilings, and expansive windows. Indulge in its extraordinary curved glass staircase, mahogany pub room and wine cellar, free form pool and spa, two offices, an elevator, and a sprawling master bedroom suite with a sitting room, fireplace, and his & her luxury bathrooms. A deepwater dock complete with a boat lift is currently under construction. Opulence is extended with a full apartment attached. 42 Magnolia Blossom Drive, Colleton River Plantation
A Private Oasis Impeccable detail and design! Elite home with a 180° marsh vista upgraded throughout with a beautifully decorated open floor plan. Large deck affords entertaining to the max. High-end kitchen, resort-quality guest suites, hardwood flooring. 6 Brenton Court, Colleton River Plantation
4
6.5
Bedrooms
Bathrooms
Ultimate Retreat Beautifully built, the sunny interior flows out to the pool and patio sitting on a lagoon to golf vista. A unique and functional design with evident quality through5,400 out. Upscale kitchen with stainless steel appliances. Blissful master suite and ensuite. $939,000 35 Hawthorne Road, Colleton River Plantation
7,060 Htd. Square Feet
$2,450,000
5
5.5
3
3.5
Bedrooms
Bathrooms
Bedrooms
Bathrooms
Htd. Square Feet
COMMUNITY SPECIALIST The Linda Rudd Team is your Colleton River Specialist. We’ve
brought buyers to, and sold, over 24 properties in the community. Please contact us if you’d like a no-obligation home valuation.
$745,000
4,176 Htd. Square Feet
PRSRT STD US POSTAGE PAID Permit 73
Linda Rudd, Real Estate Advisor, Team Leader
Hilton Head Is., SC
Telephone: 843-816-5522 • linda.rudd@evusa.com
Rick Turner Telephone: 843-816-0796 • rick.turner@evusa.com
Local Postal Customer
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.hiltonheadislandbluffton.evusa.com ©2016 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.