The State of the Palmetto Dunes Real Estate Market

THE STATE of the Palmetto Dunes Real Estate Market

January 2017

KEY METRICS 2016 in Review

Happy New Year!

Palmetto Dunes Plantation numbers were mixed in 2016: 48 homes closed, down from 52 in 2015. The total dollar volume of homes sold in 2016 though was $47.479M, down slightly from $48.032M in 2015. Supply and demand: there are currently 45 homes listed for sale with an average of 4 homes selling per month over the last twelve months. That translates into a 10.5-month supply, considered by industry experts to be a strong buyer’s market. As of January 16, 2017, there were two homes pending/under contract. In the lot realm, six lots closed in 2016 versus five in 2015, and there are two lots pending/under contract and 11 marketed for sale.

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 Palmetto Dunes

Historical Median Sales Price Rolling 12-Month Calculation

Inventory of Homes For Sale

Number of Closed Home Sales

10 56

On 12/31/15

On 12/31/16

$50,000,000 $40,000,000 $30,000,000

$20,000,000 $10,000,000 52

Total Value of Homes Closed

$48,032,025

1st Twelve Months of 2015 1st Twelve Months of 2016

$47,479,375

1 Twelve Months of 2015 1 Twelve Months of 2016 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

1500

2000

2500

Number of Homes Sold

3000

3194

3500

500

0 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:

Palmetto Dunes Hurricane Matthew Damage Survey Over the next few months we would like to invite you to participate in our “Palmetto Dunes Hurricane Matthew Damage Survey” where you can share your story and post-Matthew experiences. Participants will be entered to win a $100 SERG Gift Certificate. We will be reporting the results of this survey after they have been compiled. As so many in our community, we also had to remove a beautiful oak tree that was leaning toward our house and hanging over our son’s bedroom. After helping so many homeowners through the process of removing trees we were able to network with a company and save about 30’ of the base of the oak in our yard. We are looking forward to making several park benches using a homemade Alaskan Mill, to give back to the community as a reminder that life goes on and our plantation survived the wrath of Hurricane Matthew. We hope your New Year is off to a great start! To complete the survey, please go to: www.PalmettoDunesHurricaneMatthewDamageSurvey.info.

Palmetto Dunes Home Listings STATUS SUB-AREA 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 Active Active Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold

Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Inverness Side Mariners Side Inverness Side Mariners Side

ADDRESS

VIEW

12 Brigantine 12 Armada Street 9 Junket 19 Armada Street 11 Catboat 6 Armada 162 Mooring Buoy 4 Brigantine 164 Mooring Buoy 5 Junket 3 Galleon 54 Mooring Buoy 4 Ketch 3 Junket 4 Haul Away 6 Iron Clad 6 Flotilla 14 Port Tack 179 Mooring Buoy 9 High Water 29 Port Tack 44 Sea Lane 4 Catboat 167 Mooring Buoy 2 Lee Shore 11 Promontory Court 1 Armada Street 4 Galleon 5 Hunt Club Court 13 Sea Lane 142 Mooring Buoy 40 Starboard Tack 8 Cottage Court 14 Promontory Court 1 Cockle Court 6 Flagg Road 11 Saint George Road 3 Burns Court 53 Full Sweep 22 Promontory Court 6 Topside 19 Cartgate Drive 8 Flotilla 159 Mooring Buoy 119 Mooring Buoy 14 Hunt Club Court 2 Night Harbour 31 Swing About 16 Heath Drive 62 Mooring Buoy 19 Sea Lane 2 Shelley Court 6 High Water 3 Cockle Court 52 Full Sweep 54 Off Shore 30 Off Shore 8 High Water 74 Off Shore 6 Cottage Court 5 Flagg Road 2 Armada Street 4 Flagg Road 48 Full Sweep

Ocean Ocean Ocean Ocean Ocean Landscape, Wooded Ocean, Wooded Ocean Landscape, Pool Ocean Ocean, Wooded Landscape Ocean Wooded Lagoon Ocean, Pool Landscape, Pool Golf, Lagoon Lagoon Lagoon Lagoon Lagoon Landscape, Pool Lagoon, Pool Wooded Golf, Lagoon Wooded Landscape Landscape, Pool Golf Lagoon Lagoon, Pool Pool, Wooded Landscape, Pool Landscape, Pool Lagoon, River Landscape, Pool Lake Pool, Wooded Lake Wooded Ocean Lagoon, Pool Landscape, Pool Lagoon Wooded Lagoon, River Golf, Pool Landscape, Wooded Golf Pool, Wooded Golf, Lagoon Landscape, Pool Golf, Lagoon Golf Landscape Golf, Lagoon Golf Wooded Landscape, Pool Wooded Landscape, Pool Golf

YEAR APPROX. TOTAL LIST PRICE CLOSE PRICE FULL BATHS HALF BATHS BUILT SQ. FOOTAGE BEDROOMS 6 5 5 4 4 6 5 6 5 6 5 5 6 5 5 6 5 4 7 7 6 4 5 5 5 5 3 3 5 4 3 4 5 3 6 4 4 5 4 3 3 3 6 5 5 4 4 4 4 3 5 5 4 4 4 4 3 3 3 4 3 4 3 3

5 5 5 4 4 6 4 6 5 6 5 4 6 5 4 6 4 3 6 7 5 3 5 4 5 4 3 3 5 3 4 4 4 3 5 4 4 4 3 2 3 3 6 4 4 4 4 4 4 3 4 5 2 4 4 3 3 3 2 3 3 2 2 3

1 2 2 1 1 1 2 2 2 1 1 1 1 1 1 1 1 1 1 2 1 1 0 0 0 1 0 0 0 1 0 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 0 1 0 1 1 1 1 1 1 0 1 1 1 0 0 0 0 0

Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between September 1, 2016 and December 31, 2016

1981 2016 1994 1987 1971 2016 1990 2001 1979 1984 1993 2013 1992 1992 2002 1998 1990 1982 1998 1987 2006 1984 1989 1992 1994 1995 1979 1981 1999 1993 1975 1974 1994 1999 1981 1998 1983 1998 1974 1994 1989 1995 2002 2016 2014 2001 1979 2006 1988 1984 1973 2006 1986 1986 2016 1973 1991 1980 1973 1995 1981 1971 1980 1981

5,600 4,638 4,956 3,842 5,342 4,431 4,844 4,976 3,680 5,112 5,701 3,624 4,022 4,591 6,064 4,320 3,292 3,173 5,158 4,604 5,802 2,680 4,012 2,923 3,005 4,081 2,477 2,252 3,870 3,062 2,100 3,092 2,542 2,538 2,846 2,749 3,435 2,894 2,497 2,873 2,452 1,956 5,885 4,144 4,083 3,634 4,188 3,221 2,637 2,466 2,704 3,002 2,520 2,812 3,015 3,678 2,838 2,400 2,130 3,040 2,460 2,292 1,702 2,097

$4,950,000 $4,500,000 $4,450,000 $3,549,000 $3,500,000 $2,795,000 $2,295,000 $2,095,000 $1,995,000 $1,899,000 $1,875,000 $1,795,000 $1,795,000 $1,695,000 $1,695,000 $1,690,000 $1,549,000 $1,490,000 $1,399,000 $1,399,000 $1,395,000 $1,395,000 $1,295,000 $1,295,000 $1,275,000 $1,249,500 $1,175,000 $1,050,000 $995,000 $975,000 $895,000 $895,000 $799,900 $769,000 $759,000 $749,000 $729,000 $699,900 $679,000 $649,900 $649,000 $619,000 $3,995,000 $1,995,000 $1,795,000 $995,000 $995,000 $899,900 $849,000 $809,000 $849,000 $793,000 $795,000 $749,000 $729,000 $693,000 $695,000 $639,000 $639,900 $659,000 $625,000 $592,500 $575,000 $299,000

----------------------------------------------------------------------------------------$1,660,000 $950,000 $900,000 $850,000 $810,000 $800,000 $795,000 $775,000 $765,000 $735,000 $695,000 $675,000 $650,000 $632,000 $625,000 $600,000 $578,500 $565,000 $549,000 $299,000

Our international reach finds home buyers.

Continents

37 Countries

700+

Shops

7,000+

Advisors

International buyers have invested more than $92 billion in U.S. homes (Source: 2014 Profile of International Home Buying Activity). Today’s real estate professionals need to demonstrate international expertise and have the proven ability to promote their properties to buyers worldwide. Engel & Völkers is a revolutionary global brand with more than 700 brokerages and 7,000 advisors in highly desirable markets including the United States, Canada and Europe.

A global real estate network with buyer referrals from national and international markets such as Atlanta, New York Metro Area, Canada and Europe.

Industry-leading technology tools that reach home buyers and sellers online where 92% of people begin their home search. Source: National Association of Realtors

At Engel & Völkers Hilton Head Island - Bluffton, we are committed to bringing that same revolutionary approach to the Palmetto Dunes real estate market. Our goal is to provide unrivaled service in the residential real estate market as we bring qualified buyers from around the world to unique properties throughout the Lowcountry. Only the most dedicated and professional advisors, with an exclusive clientele built from years of experience, are a part of our brand. By combining the local market expertise of our seasoned team with an exceptional global network, we are able to find buyers for our deserving clients. We believe that discretion is the cornerstone of any trustworthy relationship and that protecting the interests of our clients is a point of honor. At Engel & Völkers, we firmly count on innovation, co-operation, professionalism and reliability to drive success. Our culture of expertise and passion is shared through our proprietary technology which leverages the full power of our network for the clients we serve. In this way, we are truly connected. Let us make the right connections for you. We look forward to working with you closely to examine your real estate goals before developing a strategy to obtain them. Please contact us to schedule a brief introductory meeting and complimentary home valuation.

COMMUNITY The Clarke Team is your Palmetto Dunes Specialist. We live here, we sell homes here and we bring our buyers here, to the Island’s best kept secret. SPECIALIST We currently have two clients wishing for a home in Palmetto Dunes with one potential neighbor looking for a home between $800,000 - $1,200,000 with view on the 11 mile lagoon and as close to the beach as possible. The second is looking for a home with 3 bedrooms/bonus room (they have three children) between $750,000 and $950,000. If you, or anyone you know, is thinking of selling their home, please give us a call. We have a buyer for you! For an instant home evaluation please go to www.palmettodunesinstanthomevaluation.info or contact us at 843-290-5828.

PRSRT STD US POSTAGE PAID Permit 73 Hilton Head Is., SC

Larry and Karen Clarke, Clarke Team Real Estate Advisors

Engel & Völkers Hilton Head Island - Bluffton

Telephone • 843-290-5828 Email • clarketeam@evusa.com Website • www.clarketeam.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.