THE STATE
of the Sea Pines Harbour Town Golf Course Real Estate Market
January 2017
KEY METRICS 2016 in Review
Sea Pines Harbour Town Golf Course Homes* Sales Up
Homes sales in the Harbour Town Golf Course neighborhoods for 2016 are up compared to 2015. The number of closed homes are up to 49 compared to 40 a year ago and the dollar volume is up to $31.6M from $30.3M. Supply and demand: there are currently home 25 homes listed for sale with an average of 4.08 selling per month over the last twelve months. That translates into a 6.1-month supply, considered by industry experts to be a balanced market, neither a buyer’s market or seller’s market. Thus, there is little price appreciation or depreciation pressure. As of January 7th, 2016, there were three homes pending/under contract. The graph below represents the Harbour Town Golf neighborhood market.
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. *Harbour Town Golf Course Homes are those homes located in the following neighborhoods surrounding the Harbour Town Golf Course: Baynard Cove, Baynard Oaks, Greenwood Forest, Harleston Green, Heritage Woods, and St. Andrews Place.
All MLS All of Sea Pines Detached
Historical Median Sales Price Rolling 12-Month Calculation
Inventory of Homes For Sale 30 24
Number of Closed Home Sales 60
$35,000,000
50
$30,000,000
$20,000,000
30
12
$15,000,000
20
6
$10,000,000
10
$5,000,000 40
25
0
On 12/31/16
0
$25,000,000
40
18
Total Value of Homes Closed
49
1 Twelve Months of 2015 1 Twelve Months of 2016 st
st
$30,300,000
0
$31,600,000
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.
2016 Sales At An All Time High
KEY TRENDS
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
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.
Sea Pines Harbour Town Golf Course 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 Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
13 Wagon Road 17 Marsh Drive 63 Baynard Cove Road 102 Baynard Cove Road 47 Baynard Cove Road 58 Heritage Road 6 Sylvan Lane 37 Heritage Road 40 Baynard Park Road 46 Baynard Cove Road 25 Battery Road 85 Plantation Drive 9 Heritage Road 22 Red Oak Road 52 Heritage Road 20 Gunnery Lane 11 Gunnery Lane 2 Fern Court 37 Red Oak Road 19 Columbine Lane 8 Turnberry Lane 26 Turnberry Lane 4 Sylvan Lane 8 Gunnery Lane 4 Sweet Gum Lane 14 Dewberry Lane 18 Marsh Drive 12 Fern Court 10 Forest Drive 52 Baynard Park Road 2 Cannon Row 23 Wagon Road 11 Heritage Court 32 Baynard Cove Road 1 E Garrison Place 1 Deer Run Lane 5 Dewberry Lane 29 Deer Run Lane 2 Deer Run Road 71 Forest Drive 4 Columbine Lane 9 Hollyberry Lane
Lake, Pool Golf, Sound Deep Water, Lagoon Golf, Pool Marsh, River Golf, Lagoon Lagoon, Landscape Golf Golf, Sound Wooded Golf Golf Golf, Lagoon Golf Golf Lagoon Lagoon, Pool Landscape Pool, Wooded Lagoon, Landscape Golf Golf Lagoon Landscape, Pool Landscape, Wooded Wooded Lagoon, Pool Wooded Wooded Landscape Lagoon, Pool Lagoon Landscape, Wooded Wooded Wooded Landscape, Wooded Landscape, Wooded Lagoon Landscape Wooded Wooded Landscape, Wooded
Active - On the Market Pending - Under Contract Sold - Closed Between October 1, 2016 and December 31, 2016
TOTAL YEAR APPROX. FULL BATHS HALF BATHS FURNISHED LIST PRICE CLOSE PRICE BEDROOMS BUILT SQ. FOOTAGE 5 5 1 2008 4,560 No $2,395,000 --6 5 1 2002 6,236 Yes $2,380,000 --3 3 2 1975 5,224 No $2,149,000 --6 5 2 2007 5,917 Yes $1,799,000 --4 3 0 1972 2,947 Yes $1,495,000 --4 4 0 1976 4,244 No $1,475,000 --4 4 2 2007 4,929 Yes $1,389,000 --4 4 1 1979 4,195 No $1,379,900 --4 3 1 1982 3,970 No $1,250,000 --4 5 1 1991 4,947 No $1,249,000 --4 3 1 1979 3,215 Yes $1,200,000 --5 5 2 1976 5,650 No $1,125,000 --3 3 0 1978 2,852 Yes $950,000 --5 3 1 1988 3,763 Yes $949,900 --4 3 1 1978 2,991 Yes $895,000 --4 3 0 1973 2,654 Yes $849,000 --4 5 1 1973 3,376 Yes $799,000 --4 4 0 1977 2,720 No $699,000 --3 2 1 1983 2,450 Yes $699,000 --3 3 1 2004 2,651 Yes $699,000 --4 3 1 1973 3,298 No $695,000 --4 3 1 1977 2,250 No $649,000 --3 3 0 1974 2,019 Yes $649,000 --4 3 0 1979 2,067 Yes $644,000 --3 2 0 1987 1,802 No $519,000 --3 2 1 1979 1,876 No $439,900 --4 5 1 1978 4,300 No $1,449,000 --3 3 0 1982 2,196 Yes $529,000 --4 2 3 1974 2,106 No $399,000 --4 4 1 2012 4,954 Yes $2,450,000 $2,300,000 4 4 0 1972 3,163 Yes $1,100,000 $1,005,000 4 4 1 1972 2,600 Yes $937,900 $910,000 5 4 1 1973 3,559 No $899,000 $850,000 4 4 0 1980 2,754 No $565,000 $507,500 3 2 1 1979 1,986 No $559,000 $519,500 3 3 0 1976 2,561 No $554,000 $500,500 3 2 0 1980 2,084 No $549,900 $525,000 3 3 0 1984 2,057 No $549,000 $535,000 3 2 0 1972 2,174 No $529,000 $490,000 3 2 1 1991 2,152 No $459,900 $453,900 3 2 0 1979 1,945 No $399,000 $380,000 2 2 1 1978 1,444 No $399,000 $399,000
Definitions for Listings
Our international reach finds home buyers. 5
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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 Sea Pines 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 SPECIALIST Considering listing your home? Contact me for a complimentary home
value consultation and let me show you how we utilize our digital presence and tailored platforms to sell your home for maximum value.
Judy Flanagan, 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: 843-415-3119 Email: judy.flanagan@evusa.com Website: www.judyflanagan.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.
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