THE STATE
SPECTACULAR HOMES, LOTS AND LAND
of the May River - River Side Real Estate Market
September 2017 KEY METRICS 72 Brams Point Road, Spanish Wells
86 Rose Dhu Creek Plantation Drive, Rose Dhu Creek Plantation
The First Eight Months of 2017 in Review
4 Bedrooms | 4 Bathrooms | 4,400 Htd. SqFt | Deep Water View | $3,499,000 4 Bedrooms | 4.5 Bathrooms | 5,563 Htd. SqFt | Landscape View | $999,000 In May River-River Side, 20 homes closed, compared to 24 in 2016. The first eight months’ total dollar volume of homes sold in 2017 was $10.750M, slightly down from $12.015M in 2016. Supply and demand: there are currently 17 homes listed for sale with an average of 3 homes selling per month over the last six months. That translates into a 5.67-month supply, considered by industry experts to be a seller’s market. As of September 14, 2017, there were 10 homes pending. In the lot realm, 17 lots closed in the first eight months of 2017 versus 23 during the same time last year. There is currently one lot pending.
27 Yorkshire Drive, Wexford Plantation
2 Derby Court, Rose Dhu Creek Plantation
4 Bedrooms | 4.5 Bathrooms | 4,781 Htd. SqFt | Landscape View | $1,295,000 All MLS Bluffton/Off-Plantation
Historical Median Sales Price Rolling 12-Month Calculation
C
O UN N D T E R R A C T
4 Bedrooms | 3.5 Bathrooms | 3,200 Htd. SqFt | Golf View | $649,000
How’s the Hilton Head Island - Bluffton Real Estate Market Doing? The Hilton Head Island-Bluffton housing market continues to be on fire, setting the all-time record for the first eight months of any year in the history of our area, according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, home sales in 2005 set a new first eight months’ record of 1,824 homes sold. In the first eight months of 2017 though, 2,317 homes were sold, a dramatic 27% increase. In other positive news, home values in just the first eight months of 2017 were up 2.2% over 2016 prices, but still 26% 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.
56 Habour Passage, Windmill Habour - FOR SALE OR TRADE Land/Lot | 0.31 Acres | Harbor View | $529,000
22 Castle Point Road, Bluffton - May River
3 Bedrooms | 4 Bathrooms | 2,400 Htd. SqFt | Deep Water View | $1,500,000
COMING SOON
LOCAL RESIDENTIAL LOTS
84 Ulmer Road Bed & Breakfast Downtown Bluffton
378 Old Palmetto Bluff Road Palmetto Bluff
5 Old Oak Road Oldfield
29 Oxen Lane Rose Hill - Estate Side
9 Bedrooms | 10 Bathrooms | 7,260 Htd. SqFt | $1,299,000
4 Bedrooms | 3.5 Bathrooms | 3,608 Htd. SqFt | $849,000
Landscape View | 5.75 Acres | $435,000
25 Rawstrom Drive Bluffton - Off Plantation
Wooded View | 2 Acres | $139,000
Inventory of Homes For Sale
Number of Closed Home Sales
Total Value of Homes Closed
25
25
$15,000,000
20
20
$12,000,000
15
15
$9,000,000
10
10
$6,000,000
5
5
$3,000,000
Wooded View | 1.67 Acres | $145,000
PHENOMENAL LAND TRACTS 702 Belfield Drive Ridgeland, Jasper County
625 Fording Island Road Okatie, Beaufort County
Wooded View | 241 Acres | $996,625
Wooded View | 160 Acres | $320,000 PRSRT STD US POSTAGE PAID Permit 73
Nickey Maxey, Real Estate Advisor
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: 843-247-0001 Email: nickey.maxey@evusa.com Website: www.nickeymaxey.evusa.com ©2017 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.
Local Postal Customer
24
17
0
On 08/31/17
0
1st Eight Months of 2016
20
1st Eight Months of 2017
$12,015,000
0
$10,750,000
1st Eight Months of 2016 1 Eight Months of 2017 st
This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2017 through September 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.
May River Home Listings STATUS
ADDRESS
VIEW
Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold
34 Myrtle Island Lane 113 Gascoigne Bluff Road 16 Sweet Grass Lane 67 Pine View Drive 2 Derby Court 55 Rose Dhu Creek Plantation Drive 11 Shults Road 44 Myrtle Island Road 34 Minuteman Drive 86 Rose Dhu Creek Plantation Drive 2 Crystal Beach Circle 5797 Yaupon Road 222 Goethe Road 4 Fisherman Lane 5753 Guilford Place 4 Nandina Court 12 Tabby Shell Road 163 Gascoigne Bluff Road 22 Castle Point Road 23 Ulmer Drive 29 Rose Dhu Drive 37 Pine View Drive 22 Kirk Bluff Road 5852 Ginkgo Lane 29 Pine View Dr 5818 Ginkgo Lane 11 Robertson Street 6837 Browns Bluff Lane 31 Pine View Drive 27 Albert Ln 7 Redbud Way 5747 Guilford Place 30 Tabby Shell Road 50 Wharf St
Deep Water, River Deep Water, River Landscape, Wooded Deep Water Landscape Landscape, River Landscape Deep Water, River Deep Water, River Landscape River Landscape Landscape Wooded Landscape Landscape, Wooded Landscape Deep Water, River Deep Water Deep Water Marsh, River Deep Water, River River Landscape, Wooded Landscape, Wooded Landscape, Wooded Landscape Deep Water Deep Water, River Deep Water Wooded Landscape, Wooded Landscape, Wooded Landscape, Wooded
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 6 5 2 4,681 2003 $2,395,000 --3 3 0 3,200 1995 $1,775,000 --4 4 1 4,475 2015 $1,395,000 --6 5 2 4,545 2003 $1,295,000 --4 4 1 4,781 2006 $1,295,000 --6 5 1 6,150 2007 $1,250,000 --3 2 0 1,668 1957 $1,250,000 --3 2 1 2,680 2003 $1,195,000 --5 4 1 6,000 2006 $1,145,000 --4 4 1 5,563 2006 $999,000 --4 3 0 2,480 1995 $850,000 --4 3 1 2,686 2010 $649,000 --4 3 1 2,850 2017 $570,000 --4 4 0 2,569 1999 $499,900 --3 2 0 1,516 2017 $479,000 --5 3 1 2,991 2014 $464,000 --3 2 1 2,600 2008 $449,000 --4 3 1 4,480 2004 $1,950,000 --3 4 0 2,400 2014 $1,500,000 --5 4 0 3,945 1957 $1,150,000 --4 3 1 3,584 1974 $899,000 --3 3 1 2,850 1985 $770,900 --4 4 0 3,600 1993 $699,000 --3 2 1 2,450 2014 $689,000 --5 4 1 4,000 1978 $674,500 --2 2 1 2,287 2014 $518,500 --3 1 1 1,176 2012 $189,000 --2 2 0 1,836 2009 $1,000,000 $1,000,000 3 2 1 3,032 1988 $840,000 $840,000 3 2 0 2,336 2004 $556,500 $556,500 5 3 1 3,026 2015 $485,000 $485,000 3 2 0 1,838 2016 $450,000 $450,000 3 2 1 1,687 2014 $390,000 $390,000 3 2 0 1,152 2012 $162,100 $162,100
May River Lot Listings STATUS Active Active Active Active Active Active Active Active Pending Sold Sold Sold Sold Sold Sold
ADDRESS 100 Goethe Road 75 Rose Dhu Creek Plantation Drive 31 Rose Dhu Creek Plantation Drive 65 Rose Dhu Creek Plantation Drive 5738 Guilford Place 63 Rose Dhu Creek Plantation Drive 43 Rose Dhu Creek Plantation Drive 25 Rawstrom DR 10 Wharf Street 10 Guerrard Avenue 45 Verdier Cove Road 5758 Guilford Place 16 Kitty Road 5752 Guilford Place 6 Redbud Lane
VIEW LIST PRICE CLOSE PRICE Landscape, Wooded $269,999 --Landscape, River $189,550 --Landscape, Marsh $159,900 --Landscape, Marsh $149,000 --Landscape, Wooded $149,000 --Lagoon/Canal, Wooded $148,800 --Landscape, River $144,000 --Wooded $139,000 --Wooded $75,000 --Landscape $268,800 $268,800 Wooded $215,000 $215,000 Landscape $135,000 $135,000 Wooded $128,500 $128,500 Landscape $120,000 $120,000 Wooded $84,000 $84,000
KEY TRENDS
How Supply and Demand Impacts Real Estate Values Source: NAR Existing Home Sales, Realtors Confidence Index
The concept of supply and demand is a simple one. The best time to sell something is when supply of that item is low and demand for that item is high! This guarantees that the price paid for that item increases as supply lowers. This is exactly what’s happening in today’s U.S. real estate market! According to the National Association of Realtors (NAR) latest Existing Home Sales Report: Sales in the U.S. are now at a seasonally adjusted annual rate of 5.44 million
14,904 HOMES SELL EVERY DAY
Impact of Inventory on Home Prices
Months Supply of Inventory Over the Last 12 Months
Greater than 7 months
4.5
4.5
4.4 4.1
4.0 3.6
3.8
3.8
FEB
MAR
4.2
4.2
4.2
MAY
JUN
JUL
3.5
Between 6-7 months
BUYER’S MARKET NEUTRAL MARKET
Less than 6 months
There has not been a 6-month supply of inventory since
Prices will only APPRECIATE WITH INFLATION
SELLER’S MARKET
August 2012
Prices will DEPRECIATE
Prices will APPRECIATE AUG
SEP
OCT
NOV
JAN
DEC
APR
July marked the 65th consecutive month of year-over-year price appreciation as the median price rose to
$258,300!
Buyer Demand Outpacing Seller Supply WA
ME
VT
ID
NY
WI
SD
MI
NV
IL UT CO
CA
IN
MO
KS
WV VA
OK NM
TX
NV
DC
UT CO
IN
MO
KS
AZ
OK NM
DE MD
WV VA
KY
SC MS
TX
DC
NC
AR
GA
FL
CT NJ
OH
TN
LA
AK
IL
CA
SC AL
RI PA
IA
NE
NC
AR MS
MI
WY
DE MD
KY
NY
WI
SD
NJ
OH
TN AZ
ID
CT
PA
IA
NE
NH MA
MN OR
RI
WY
ME
VT ND
MT
NH MA
MN OR
WA
ND
MT
AL
GA
LA FL
AK
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between June 1, 2017 and August 30, 2017
Weak
Weak
Stable
Stable
Strong HI
Very Strong
Strong HI
Very Strong
May River Home Listings STATUS
ADDRESS
VIEW
Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Pending Pending Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold
34 Myrtle Island Lane 113 Gascoigne Bluff Road 16 Sweet Grass Lane 67 Pine View Drive 2 Derby Court 55 Rose Dhu Creek Plantation Drive 11 Shults Road 44 Myrtle Island Road 34 Minuteman Drive 86 Rose Dhu Creek Plantation Drive 2 Crystal Beach Circle 5797 Yaupon Road 222 Goethe Road 4 Fisherman Lane 5753 Guilford Place 4 Nandina Court 12 Tabby Shell Road 163 Gascoigne Bluff Road 22 Castle Point Road 23 Ulmer Drive 29 Rose Dhu Drive 37 Pine View Drive 22 Kirk Bluff Road 5852 Ginkgo Lane 29 Pine View Dr 5818 Ginkgo Lane 11 Robertson Street 6837 Browns Bluff Lane 31 Pine View Drive 27 Albert Ln 7 Redbud Way 5747 Guilford Place 30 Tabby Shell Road 50 Wharf St
Deep Water, River Deep Water, River Landscape, Wooded Deep Water Landscape Landscape, River Landscape Deep Water, River Deep Water, River Landscape River Landscape Landscape Wooded Landscape Landscape, Wooded Landscape Deep Water, River Deep Water Deep Water Marsh, River Deep Water, River River Landscape, Wooded Landscape, Wooded Landscape, Wooded Landscape Deep Water Deep Water, River Deep Water Wooded Landscape, Wooded Landscape, Wooded Landscape, Wooded
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 6 5 2 4,681 2003 $2,395,000 --3 3 0 3,200 1995 $1,775,000 --4 4 1 4,475 2015 $1,395,000 --6 5 2 4,545 2003 $1,295,000 --4 4 1 4,781 2006 $1,295,000 --6 5 1 6,150 2007 $1,250,000 --3 2 0 1,668 1957 $1,250,000 --3 2 1 2,680 2003 $1,195,000 --5 4 1 6,000 2006 $1,145,000 --4 4 1 5,563 2006 $999,000 --4 3 0 2,480 1995 $850,000 --4 3 1 2,686 2010 $649,000 --4 3 1 2,850 2017 $570,000 --4 4 0 2,569 1999 $499,900 --3 2 0 1,516 2017 $479,000 --5 3 1 2,991 2014 $464,000 --3 2 1 2,600 2008 $449,000 --4 3 1 4,480 2004 $1,950,000 --3 4 0 2,400 2014 $1,500,000 --5 4 0 3,945 1957 $1,150,000 --4 3 1 3,584 1974 $899,000 --3 3 1 2,850 1985 $770,900 --4 4 0 3,600 1993 $699,000 --3 2 1 2,450 2014 $689,000 --5 4 1 4,000 1978 $674,500 --2 2 1 2,287 2014 $518,500 --3 1 1 1,176 2012 $189,000 --2 2 0 1,836 2009 $1,000,000 $1,000,000 3 2 1 3,032 1988 $840,000 $840,000 3 2 0 2,336 2004 $556,500 $556,500 5 3 1 3,026 2015 $485,000 $485,000 3 2 0 1,838 2016 $450,000 $450,000 3 2 1 1,687 2014 $390,000 $390,000 3 2 0 1,152 2012 $162,100 $162,100
May River Lot Listings STATUS Active Active Active Active Active Active Active Active Pending Sold Sold Sold Sold Sold Sold
ADDRESS 100 Goethe Road 75 Rose Dhu Creek Plantation Drive 31 Rose Dhu Creek Plantation Drive 65 Rose Dhu Creek Plantation Drive 5738 Guilford Place 63 Rose Dhu Creek Plantation Drive 43 Rose Dhu Creek Plantation Drive 25 Rawstrom DR 10 Wharf Street 10 Guerrard Avenue 45 Verdier Cove Road 5758 Guilford Place 16 Kitty Road 5752 Guilford Place 6 Redbud Lane
VIEW LIST PRICE CLOSE PRICE Landscape, Wooded $269,999 --Landscape, River $189,550 --Landscape, Marsh $159,900 --Landscape, Marsh $149,000 --Landscape, Wooded $149,000 --Lagoon/Canal, Wooded $148,800 --Landscape, River $144,000 --Wooded $139,000 --Wooded $75,000 --Landscape $268,800 $268,800 Wooded $215,000 $215,000 Landscape $135,000 $135,000 Wooded $128,500 $128,500 Landscape $120,000 $120,000 Wooded $84,000 $84,000
KEY TRENDS
How Supply and Demand Impacts Real Estate Values Source: NAR Existing Home Sales, Realtors Confidence Index
The concept of supply and demand is a simple one. The best time to sell something is when supply of that item is low and demand for that item is high! This guarantees that the price paid for that item increases as supply lowers. This is exactly what’s happening in today’s U.S. real estate market! According to the National Association of Realtors (NAR) latest Existing Home Sales Report: Sales in the U.S. are now at a seasonally adjusted annual rate of 5.44 million
14,904 HOMES SELL EVERY DAY
Impact of Inventory on Home Prices
Months Supply of Inventory Over the Last 12 Months
Greater than 7 months
4.5
4.5
4.4 4.1
4.0 3.6
3.8
3.8
FEB
MAR
4.2
4.2
4.2
MAY
JUN
JUL
3.5
Between 6-7 months
BUYER’S MARKET NEUTRAL MARKET
Less than 6 months
There has not been a 6-month supply of inventory since
Prices will only APPRECIATE WITH INFLATION
SELLER’S MARKET
August 2012
Prices will DEPRECIATE
Prices will APPRECIATE AUG
SEP
OCT
NOV
JAN
DEC
APR
July marked the 65th consecutive month of year-over-year price appreciation as the median price rose to
$258,300!
Buyer Demand Outpacing Seller Supply WA
ME
VT
ID
NY
WI
SD
MI
NV
IL UT CO
CA
IN
MO
KS
WV VA
OK NM
TX
NV
DC
UT CO
IN
MO
KS
AZ
OK NM
DE MD
WV VA
KY
SC MS
TX
DC
NC
AR
GA
FL
CT NJ
OH
TN
LA
AK
IL
CA
SC AL
RI PA
IA
NE
NC
AR MS
MI
WY
DE MD
KY
NY
WI
SD
NJ
OH
TN AZ
ID
CT
PA
IA
NE
NH MA
MN OR
RI
WY
ME
VT ND
MT
NH MA
MN OR
WA
ND
MT
AL
GA
LA FL
AK
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between June 1, 2017 and August 30, 2017
Weak
Weak
Stable
Stable
Strong HI
Very Strong
Strong HI
Very Strong
THE STATE
SPECTACULAR HOMES, LOTS AND LAND
of the May River - River Side Real Estate Market
September 2017 KEY METRICS 72 Brams Point Road, Spanish Wells
86 Rose Dhu Creek Plantation Drive, Rose Dhu Creek Plantation
The First Eight Months of 2017 in Review
4 Bedrooms | 4 Bathrooms | 4,400 Htd. SqFt | Deep Water View | $3,499,000 4 Bedrooms | 4.5 Bathrooms | 5,563 Htd. SqFt | Landscape View | $999,000 In May River-River Side, 20 homes closed, compared to 24 in 2016. The first eight months’ total dollar volume of homes sold in 2017 was $10.750M, slightly down from $12.015M in 2016. Supply and demand: there are currently 17 homes listed for sale with an average of 3 homes selling per month over the last six months. That translates into a 5.67-month supply, considered by industry experts to be a seller’s market. As of September 14, 2017, there were 10 homes pending. In the lot realm, 17 lots closed in the first eight months of 2017 versus 23 during the same time last year. There is currently one lot pending.
27 Yorkshire Drive, Wexford Plantation
2 Derby Court, Rose Dhu Creek Plantation
4 Bedrooms | 4.5 Bathrooms | 4,781 Htd. SqFt | Landscape View | $1,295,000 All MLS Bluffton/Off-Plantation
Historical Median Sales Price Rolling 12-Month Calculation
C
O UN N D T E R R A C T
4 Bedrooms | 3.5 Bathrooms | 3,200 Htd. SqFt | Golf View | $649,000
How’s the Hilton Head Island - Bluffton Real Estate Market Doing? The Hilton Head Island-Bluffton housing market continues to be on fire, setting the all-time record for the first eight months of any year in the history of our area, according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, home sales in 2005 set a new first eight months’ record of 1,824 homes sold. In the first eight months of 2017 though, 2,317 homes were sold, a dramatic 27% increase. In other positive news, home values in just the first eight months of 2017 were up 2.2% over 2016 prices, but still 26% 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.
56 Habour Passage, Windmill Habour - FOR SALE OR TRADE Land/Lot | 0.31 Acres | Harbor View | $529,000
22 Castle Point Road, Bluffton - May River
3 Bedrooms | 4 Bathrooms | 2,400 Htd. SqFt | Deep Water View | $1,500,000
COMING SOON
LOCAL RESIDENTIAL LOTS
84 Ulmer Road Bed & Breakfast Downtown Bluffton
378 Old Palmetto Bluff Road Palmetto Bluff
5 Old Oak Road Oldfield
29 Oxen Lane Rose Hill - Estate Side
9 Bedrooms | 10 Bathrooms | 7,260 Htd. SqFt | $1,299,000
4 Bedrooms | 3.5 Bathrooms | 3,608 Htd. SqFt | $849,000
Landscape View | 5.75 Acres | $435,000
25 Rawstrom Drive Bluffton - Off Plantation
Wooded View | 2 Acres | $139,000
Inventory of Homes For Sale
Number of Closed Home Sales
Total Value of Homes Closed
25
25
$15,000,000
20
20
$12,000,000
15
15
$9,000,000
10
10
$6,000,000
5
5
$3,000,000
Wooded View | 1.67 Acres | $145,000
PHENOMENAL LAND TRACTS 702 Belfield Drive Ridgeland, Jasper County
625 Fording Island Road Okatie, Beaufort County
Wooded View | 241 Acres | $996,625
Wooded View | 160 Acres | $320,000 PRSRT STD US POSTAGE PAID Permit 73
Nickey Maxey, Real Estate Advisor
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: 843-247-0001 Email: nickey.maxey@evusa.com Website: www.nickeymaxey.evusa.com ©2017 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.
Local Postal Customer
24
17
0
On 08/31/17
0
1st Eight Months of 2016
20
1st Eight Months of 2017
$12,015,000
0
$10,750,000
1st Eight Months of 2016 1 Eight Months of 2017 st
This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2017 through September 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.