THE STATE of the Leamington Real Estate Market
January 2017 KEY METRICS 2016 in Review
Happy New Year!
Leamington Plantation numbers were mixed in 2016: 18 homes closed, down from 24 in 2015. The total dollar volume of homes sold in 2016 was $17.926M, down from $20.425M in 2015. Supply and demand: there are currently 13 homes listed for sale with an average of 1.5 homes selling per month over the last twelve months. That translates into a 8.67-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, one lot closed in 2016 versus one in 2015 with four 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 Leamington
Historical Median Sales Price Rolling 12-Month Calculation
Inventory of Homes For Sale
Number of Closed Home Sales
Total Value of Homes Closed
20
50
$25,000,000
16
40
$20,000,000
12
30
$15,000,000
8
20
$10,000,000
4
10
$5,000,000
E
SC
17
0
On 12/31/15
24
13
On 12/31/16
0
$20,425,294
18
1st Twelve Months of 2015 1st Twelve Months of 2016
0
$17,926,000
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:
Leamington Hurricane Matthew Damage Survey Over the next few months we would like to invite you to participate in our “Leamington 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.LeamingtonHurricaneMatthewDamageSurvey.info.
Leamington Home Listings STATUS
ADDRESS
VIEW
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
122 S Shore Drive 160 S Shore Drive 1 Fairway Court 2 Niblick Court 7 Merion Court 73 Leamington Lane 51 Heath Court W 18 Leamington Lane 17 Interlochen Drive 86 Leamington Lane 11 Brassie Court 4 S Shore Drive 62 Leamington Lane 144 S Shore Drive 8 Arthur Hills Court 15 Leamington Lane 2 End Court 5 Arthur Hills Court 49 Queens Way 86 S Shore Drive 98 Leamington Lane 4 Covington Park 54 Leamington Lane 8 S Shore Drive 77 Leamington Lane 71 Leamington Lane 88 Leamington Lane 41 S Shore Court 12 Queens Way 11 Interlochen Drive 5 Benty Court
Ocean Ocean Golf, Lagoon Lagoon, Landscape Golf Golf, Landscape Golf Golf Landscape, Pool Golf, Lagoon Golf Golf, Lagoon Golf Ocean Golf, Lagoon Lagoon, Pool Lagoon Golf, Lagoon Golf Landscape Lagoon Lagoon Golf Golf, Lagoon Golf, Landscape Golf, Lagoon Golf Lagoon Landscape, Wooded Landscape Golf, Lagoon
YEAR APPROX. TOTAL LIST PRICE CLOSE PRICE FULL BATHS HALF BATHS BUILT SQ. FOOTAGE BEDROOMS 6 5 5 5 4 4 4 4 5 4 3 4 3 5 5 4 4 5 4 4 4 4 3 4 4 4 4 4 3 3 3
6 5 5 3 4 4 4 3 4 3 2 3 3 5 4 5 3 4 3 4 3 4 3 3 4 3 3 4 3 3 3
0 1 1 1 1 0 0 0 1 0 0 1 1 1 1 0 1 1 1 1 0 0 0 0 0 1 0 0 0 0 0
Leamington Lot Listings STATUS Active Active Active Active Sold
ADDRESS 12 Brassie Court 50 Leamington Lane 12 Leamington Lane 42 Leamington Lane 50 Heath Court W
VIEW LIST PRICE CLOSE PRICE Lagoon $329,000 --Golf $419,500 --Golf, Landscape $399,000 --Golf, Lagoon $419,500 --Lagoon $369,000 $325,000
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between January 1, 2016 and December 31, 2016
2002 1999 1999 2002 2006 1992 1990 1989 2002 1996 1991 2015 1987 2001 2001 1997 2014 1989 2005 2006 1993 1989 1991 1994 2001 1994 1993 1994 2000 1996 1983
5,477 3,912 6,122 3,459 4,204 3,400 4,335 2,788 3,400 3,071 2,056 3,000 3,054 4,596 4,730 4,599 3,970 4,300 4,083 3,125 3,739 3,692 2,663 3,133 3,135 3,145 2,888 3,378 2,707 2,143 2,091
$3,495,000 $2,695,000 $1,275,000 $911,000 $899,000 $864,000 $849,000 $849,000 $825,000 $749,000 $575,000 $1,219,000 $499,000 $2,690,000 $1,299,000 $1,250,000 $1,149,000 $1,249,900 $1,149,000 $1,095,000 $1,049,000 $1,049,000 $849,900 $875,000 $844,000 $799,000 $779,000 $795,000 $699,000 $644,000 $599,900
--------------------------$2,500,000 $1,194,000 $1,192,500 $1,175,000 $1,175,000 $1,025,000 $1,000,000 $1,000,000 $995,000 $901,000 $865,000 $800,000 $750,000 $739,500 $730,000 $689,000 $605,000 $590,000
Our international reach finds home buyers. 5
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 Leamington 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 Leamington Specialist. We live here, we sell homes here and we bring our buyers here, to the Island’s best kept secret. We SPECIALIST currently have two clients wishing for a home in Leamington. The first potential neighbor is 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 kids) 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.leamingtoninstanthomevaluation.info or contact us at 843-290-5828.
PRSRT STD US POSTAGE PAID Permit 73
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.
Hilton Head Is., SC