THE STATE of the Wexford Real Estate Market
January 2017 KEY METRICS 2016 in Review
Wexford Sales Up!
Wexford’s numbers in 2016 continue to compare favorably with last year: 28 homes closed in 2016 versus 20 in 2015. The total dollar volume of homes sold in 2016 was $33.462M, up from $18.880M in 2015. Supply and demand: there are currently 30 homes listed for sale with an average of 2.3 homes selling per month over the last six months. That translates into a 13-month supply, considered by industry experts to be a strong buyer’s market. As of January 11, 2017, there were four homes pending/under contract. In the lot realm, six lots closed in 2016 equal to six in 2015; there is currently one lot 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.
All MLS Wexford
Historical Median Sales Price Rolling 12-Month Calculation
Inventory of Homes For Sale
Number of Closed Home Sales
50
40
40
32
30
24
20
16
10
8
Total Value of Homes Closed $35,000,000
$30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000
41
0
On 12/31/15
On 12/31/16
$5,000,000 20
30
0
28
1st Twelve Months of 2015 1st Twelve Months of 2016
$18,880,000
0
$33,462,000
1st Twelve Months of 2015 1st Twelve Months of 2016
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.
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
2016 Sales At An All Time High
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.
Wexford Home Listings
TOTAL YEAR APPROX. FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS BUILT SQ. FOOTAGE Active 5 Knightsbridge Lane Harbor 5 8 1 1999 9,000 $3,639,000 --Active 3 Castlebridge Court Golf, Harbor 6 7 1 2001 8,442 $3,099,000 --Active 4 Plumbridge Lane Harbor 4 7 3 2006 6,293 $2,995,000 --Active 63 Bridgetown Road Golf, Harbor 5 6 0 2003 7,196 $2,699,000 --Active 19 Knightsbridge Lane Golf, Harbor 5 6 1 2015 5,752 $2,595,000 --Active 2 Wexford On The Green Harbor, Marsh 4 6 1 2002 6,366 $1,950,000 --Active 21 Plumbridge Lane Harbor 4 7 3 1986 4,762 $1,897,000 --Active 8 Wexford Club Drive Harbor 3 5 2 2000 3,519 $1,895,000 --Active 51 Wicklow Drive Golf, Landscape 4 8 3 2005 7,078 $1,849,000 --Active 22 Wexford Drive Golf 5 5 1 2006 5,752 $1,695,000 --Active 23 Wexford Drive Golf, Lagoon 4 7 2 2005 6,286 $1,399,000 --Active 31 Bridgetown Road Deep Water, Harbor 5 6 0 1985 5,274 $1,395,000 --Active 29 Oxford Drive Lagoon 5 6 1 2003 5,596 $1,350,000 --Active 10 Harrogate Drive Golf, Lagoon 5 6 1 1992 4,900 $1,349,000 --Active 22 Wexford On The Green Deep Water 7 8 1 2007 8,465 $1,349,000 --Active 44 Yorkshire Drive Golf, Lagoon 5 6 1 2000 4,607 $1,150,000 --Active 3 Wicklow Lane Golf, Pool 4 5 1 2000 4,811 $1,149,900 --Active 57 Yorkshire Drive Golf, Pool 4 5 1 1988 4,500 $1,149,000 --Active 21 Harrogate Drive Golf 5 8 2 1992 6,485 $1,049,000 --Active 30 Wexford Drive Golf 4 5 1 1993 4,682 $999,000 --Active 18 Harrogate Drive Golf 4 4 1 2005 4,750 $995,000 --Active 9 Wexford On The Green Harbor, Pool 4 4 1 2007 3,824 $989,000 --Active 6 Cambridge Circle Deep Water, Harbor 3 5 1 1992 3,180 $895,000 --Active 12 Yorkshire Drive Lagoon 4 7 2 1986 6,079 $810,000 --Active 34 Bridgetown Road Golf 4 6 1 1991 5,276 $789,000 --Active 9 Bridgetown Road Harbor 3 3 1 1984 2,576 $749,000 --Active 3 Wexford Drive E Lagoon, Wooded 3 5 2 2000 3,400 $749,000 --Active 10 Yorkshire Drive Golf, Lagoon 4 4 0 1994 3,659 $689,000 --Active 48 Wexford On The Green Deep Water 3 4 1 1990 2,878 $599,000 --Active 53 Wexford On The Green Golf, Marsh 3 4 2 1998 2,075 $409,900 --Pending 19 Bridgetown Road Deep Water, Harbor 4 5 1 1986 4,525 $1,999,000 --Pending 3 Plumbridge Lane Harbor 5 6 1 1990 6,395 $1,950,000 --Pending 24 Yorkshire Drive Golf, Lagoon 4 5 1 1996 4,571 $849,000 --Pending 11 Wexford On The Green Harbor 4 4 1 2004 3,414 $334,900 --Sold 23 Bridgetown Road Harbor, Pool 5 6 1 2000 5,276 $1,699,000 $1,600,000 Sold 34 Yorkshire Drive Golf, Lagoon 4 5 1 2009 6,300 $1,549,000 $1,365,000 Sold 19 Wicklow Drive Golf, Lagoon 4 5 1 2004 5,800 $1,495,000 $1,440,000 Sold 5 Harrogate Drive Golf, Lagoon 4 6 1 2003 5,081 $1,249,000 $1,195,000 Sold 54 Wexford Club Drive Harbor 4 4 1 1998 4,193 $1,150,000 $1,050,000 Sold 26 Wexford Drive Golf 4 5 1 1990 4,600 $979,500 $945,000 Sold 17 Yorkshire Drive Golf 4 4 0 1988 3,946 $382,000 $322,000
STATUS
ADDRESS
VIEW
Wexford 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 Pending
ADDRESS 21 Knightsbridge Lane 3 Bridgetown Road 15 Bridgetown Road 17 Oxford Drive 23 Oxford Drive 58 Wicklow Drive 42 Wicklow Drive 4 Harrogate Drive 27 Wexford Drive 50 Wicklow Drive 21 Oxford Drive 11 Wexford Drive 15 Wexford Drive 47 Wexford on the Green 8 Coventry Lane 51 Wexford on the Green 59 Wexford on the Green 41 Wexford On The Green 7 Roxbury Circle 49 Wexford On The Green 8 Fairfax Lane 6 Berkshire Court 6 Wexford Drive
VIEW LIST PRICE CLOSE PRICE Deep Water, Harbor $775,000 --Harbor $549,000 --Harbor $495,000 --Lagoon $255,000 --Lagoon $235,000 --Golf $235,000 --Golf $235,000 --Golf, Lagoon $229,000 --Golf, Lagoon $225,000 --Golf $185,000 --Lagoon $184,900 --Lagoon $179,000 --Lagoon $147,500 --Golf $125,000 --Marsh $125,000 --Marsh $125,000 --Marsh $110,000 --Golf, Marsh $110,000 --Lagoon $89,000 --Marsh $69,900 --Lagoon $49,900 --Lagoon $38,000 --Golf $149,900 ---
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between October 1, 2016 and December 31, 2016
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Our Portfolio of Fine Homes Sold in Wexford
4
4.5
Bedrooms
Bathrooms
4,600 Htd. Square Feet
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An Absolute Gem This immaculate home boasts picture-perfect street appeal with architectural style and lush landscaping. The art glass entry sets the pace in this sun-filled home completely updated throughout. Shows like a model with granite, stainless steel appliances, hardwood, travertine, soaring ceilings, and two master bedrooms with fireplaces. The spacious floor plan features three guest bedrooms with ensuite stone-enhanced baths. The kitchen, topped with dining area and grill, opens to the family room and custom bar. Luxuriate in the master suite with a Carrera marble bath floor or in the mahogany office with curved glass window-wall. The covered patio and shimmering pool offer resort-style island living with a park-like view of Arnold Palmer champion golf. 26 Wexford Drive, Wexford Plantation
Just Like New Featuring a flawless floor plan, this home offers a resort-like master bedroom, private office, and bonus room. The kitchen with granite and double islands opens up to a breakfast nook and family room. The lagoon and 8th fairway mesmerize from the terrace and swimming pool. 19 Wicklow Drive, Wexford Plantation
4
4.5
Bedrooms
Bathrooms
No Expense Spared With golf and water views, this home offers luxury details including coffered ceilings, built-ins, artist painted sections, and a dramatic two-story family room with fireplace. The kitchen boasts Viking appliances while the covered patio looks onto the pool with Jacuzzi. 5 Harrogate Drive, Wexford Plantation
5,800 Htd. Square Feet
COMMUNITY SPECIALIST Linda Rudd is your Wexford Specialist having previously lived, and been an active member, in the
community for over ten years. Just in the last few months, she has had three home sale transactions in Wexford. Please contact her if you’d like a no-obligation home evaluation.
4
5.5
Bedrooms
Bathrooms
5,081 Htd. Square Feet
PRSRT STD US POSTAGE PAID Permit 73
Linda Rudd Real Estate Advisor, Team Leader
Hilton Head Is., SC
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 • 843-816-5522 Email • linda.rudd@evusa.com 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.