The State of the Palmetto Dunes Real Estate Market- August 2017

THE STATE of the Palmetto Dunes Real Estate Market

August 2017 KEY METRICS

The First Seven Months of 2017 in Review

Palmetto Dunes’ first seven months of 2017 sales are down slightly compared to last year: 23 homes closed this year compared to 25 homes last year. The first seven months’ total dollar volume of homes sold in 2017 was $29,848,500, up from $27,705,875 in 2016. Supply and demand: there are currently 74 homes listed for sale with an average of 3.29 homes selling per month over the past seven months. That translates into a 22-month supply, considered by industry experts to be a buyer’s market. As of July 15th, 2017, there were 11 homes pending/under contract. In the lot realm, seven lots closed this year compared to only three sales in the first seven months of 2016. Additionally, there are three lots pending/under contract and 14 lots marketed for sale. Million Dollar Views Located on a quiet cul-de-sac in Leamington Plantation, between the 11-mile lagoon and the 2nd and 3rd holes of the Arthur Hills Golf Course, is this magnificent home. Its grand front entrance welcomes you while plentiful windows drench your feet in sunlight as you sashay through the formal living room and dining room down the hallway to the back of the house. The family room adjoins an oversized kitchen with a breakfast nook and extra large island. Whether you enjoy watching the golfers exaggerate their handicap or admiring the herons soar over the lagoon, the year-round Carolina Room is your personal oasis. Abundant storage holds every woman’s treasures, and the oversized garage makes for the perfect ‘man-cave.’ This picturesque home is framed by lush landscaping and a wrap-around deck.

22 Arthur Hills Court, Palmetto Dunes

How’s the Hilton Head Island - Bluffton Real Estate Market?

4

3.5

Bedrooms

Bathrooms

3,500 Htd. Square Feet

The Hilton Head Island-Bluffton housing market continues to be on fire, setting the all-time record for the first seven 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 seven months’ record of 1,572 homes sold. In the first seven months of 2017 though, 1,991 homes were sold, a dramatic 27% increase. In other positive news, home values in just the first seven months of 2017 were up 2.5% over 2016 prices, but still 25% 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.

$985,000 All MLS Palmetto Dunes, Detached

Historical Median Sales Price Rolling 12-Month Calculation

Our international reach finds home buyers. 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 750 brokerages and 9,000 advisors in highly desirable markets including the United States, Canada and Europe.

5

Continents

33 Countries

750+

Shops

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. 9,000+

Advisors

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.

COMMUNITY SPECIALIST

New to Leamington / Palmetto Dunes Plantation - 22 Arthur Hills Court! Just under 3,500 square feet, and located on the end of one of the nicest steets in the community, this four bedroom, three bathroom home boasts gorgeous long lagoon and golf views of hole 2 and 3 on the Arthur Hill golf course. If you have friends or family looking for a home in Leamington please give us a call!

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 ©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.

Inventory of Homes For Sale

Number of Closed Home Sales

100

40

80

32

60

24

40

16

20

8

Total Value of Homes Closed $30,000,000 $25,000,000 $20,000,000 $15,000,000

PRSRT STD US POSTAGE PAID Permit 73

Hilton Head Is., SC

68

0

On 07/31/16

74

On 07/31/17

$10,000,000 $5,000,000 25

0

$27,705,875

23

1st Seven Months of 2016 1st Seven Months of 2017

0

$29,848,500

1st Seven Months of 2016 1st Seven Months of 2017

This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2017 through August 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.

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 Active Active Active Active 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 Pending Sold Sold Sold 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 Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness 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 Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Inverness 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 Mariners Side Mariners Side Inverness Side Mariners Side Mariners Side Mariners Side Inverness Side Mariners Side Inverness Side Mariners Side Mariners Side

ADDRESS

VIEW

8 & 6 & 4 Galleon 12 Brigantine 9 Highrigger 9 Catboat 9 Junket 17 Armada Street 11 Dinghy 8 Night Harbour 19 Armada Street 11 Catboat 6 Armada 5 Junket 164 Mooring Buoy 176 Mooring Buoy 4 Ketch 3 Junket 14 Port Tack 6 Flotilla 1 Night Harbour 44 Sea Lane 1 Eastwind 3 Flotilla 6 Dinghy 4 Haul Away 167 Mooring Buoy 29 Port Tack 2 Lee Shore 4 Catboat 9 High Water 1 Armada Street 19 Port Tack 144 Mooring Buoy 7 Slack Tide 5 Hunt Club Court 136 Mooring Buoy 42 Mooring Buoy 39 Full Sweep 36 Starboard Tack 4 Ginger Beer Court 15 Promontory Court 142 Mooring Buoy 40 Starboard Tack 8 Cottage Court 13 Sea Lane 122 Mooring Buoy 81 Port Tack 6 Cottage Court 14 Promontory Court 22 Heath Drive 1 Cockle Court 11 Saint George Road 5 Midstream 75 Port Tack 37 Swing About 7 Ginger Beer Court 35 Full Sweep 6 Topside 12 Promontory Court 12 Sea Lane 22 Promontory Court 21 Full Sweep 19 Cartgate Drive 32 Off Shore 10 Highrigger 11 Sea Lane 162 Mooring Buoy 54 Mooring Buoy 48 Sea Lane 44 Mooring Buoy 75 Off Shore 5 Cockle Court 28 Port Tack 8 Saint George Road 56 Port Tack 12 Armada Street 8 Flotilla 9 Iron Clad 159 Mooring Buoy 4 Brigantine 3 Galleon 6 Iron Clad 179 Mooring Buoy 3 Lookout 5 Burns Court 46 Haul Away 34 Sea Lane 50 Haul Away 18 Full Sweep 6 Flagg Road 3 Full Sweep 5 Off Shore 53 Full Sweep 3 Burns Court 8 Swing About 12 Promontory Court 56 Full Sweep 84 Port Tack

Ocean, Tennis Court Ocean Ocean Ocean Ocean Ocean Ocean Ocean Ocean Ocean Landscape, Wooded Ocean Landscape, Pool Golf, Lagoon/Canal Ocean Wooded Golf, Lagoon/Canal Landscape, Pool Golf, Pool Lagoon/Canal Landscape Landscape Landscape, Wooded Lagoon/Canal Lagoon/Canal, Pool Golf, Lagoon/Canal Wooded Landscape, Pool Lagoon/Canal Wooded Golf Pool, Wooded Golf, Lagoon/Canal Landscape, Pool Pool, Wooded Landscape, Pool Lagoon/Canal, Lake Lagoon/Canal Landscape, Pool Golf, Lagoon/Canal Lagoon/Canal Lagoon/Canal, Pool Golf Landscape Lagoon/Canal Landscape Pool, Wooded Golf, Pool Landscape, Pool Lagoon/Canal, River Lagoon/Canal, Pool Lagoon/Canal Lagoon/Canal Golf Lake Lake Landscape, Wooded Lagoon/Canal Pool, Wooded Lake, Pool Wooded Golf Ocean Golf, Pool Ocean, Wooded Landscape Lagoon/Canal Landscape Lagoon/Canal, Pool Lagoon/Canal Lagoon/Canal, Pool Golf Lake Ocean Ocean Ocean Lagoon/Canal, Pool Ocean Ocean, Wooded Ocean, Pool Lagoon/Canal Golf, Lagoon/Canal Golf Lagoon/Canal, Pool Lagoon/Canal Lagoon/Canal Golf, Lagoon/Canal Landscape, Pool Lake, Pool Lagoon/Canal Lake Landscape, Pool Golf, Pool Landscape, Wooded Golf Lagoon/Canal, Pool

TOTAL YEAR APPROX. FULL BATHS HALF BATHS BEDROOMS BUILT SQ. FOOTAGE 10 10 1 1978 9,514 6 5 1 1981 5,600 5 6 0 1999 4,633 5 5 3 2004 5,500 5 5 2 1994 4,956 5 5 0 1992 4,916 6 6 1 1989 4,560 5 5 1 1994 3,700 4 4 1 1987 3,842 4 4 1 1971 5,342 6 6 1 2016 4,431 6 6 1 1984 5,112 5 5 2 1979 3,680 5 6 2 1980 4,561 6 6 1 1992 4,022 5 5 1 1992 4,591 4 3 1 1982 3,173 5 4 1 1990 3,292 6 6 1 1981 3,487 4 3 1 1984 2,680 5 4 1 1984 3,038 5 5 0 1981 3,966 4 4 1 1983 2,710 5 4 1 2002 6,064 5 4 0 1992 2,923 6 5 1 1974 5,802 5 5 0 1994 3,005 5 5 0 1989 4,012 7 7 2 1987 4,604 3 3 0 1979 2,477 4 3 1 1972 3,239 3 3 0 1973 2,132 4 3 1 2003 3,263 5 5 0 1999 3,870 3 3 0 1981 2,505 4 4 0 1979 2,361 4 4 1 2003 3,411 5 4 0 2005 3,163 5 4 2 2000 3,968 4 4 0 1982 2,506 3 4 0 1975 2,100 4 4 0 1974 3,840 5 4 0 1994 2,542 4 3 1 1993 3,062 4 4 0 1970 2,648 3 3 0 1995 2,438 4 3 0 1995 3,040 3 3 1 1999 2,538 4 4 0 1981 2,500 6 5 0 1981 2,846 4 4 1 1983 3,435 3 3 0 1981 2,064 3 2 1 1984 2,237 4 3 0 1983 2,430 3 3 0 1983 2,407 4 4 0 1987 2,543 3 3 0 1989 2,452 3 2 1 1985 2,330 4 3 1 1982 2,512 3 2 1 1994 2,873 3 2 0 1980 2,034 3 3 0 1995 1,956 3 2 1 1986 1,818 5 5 1 1995 4,992 5 5 2 2005 7,056 5 4 2 1990 4,844 5 4 1 2013 3,624 6 4 0 1988 5,087 5 4 0 1979 2,600 4 4 0 2000 3,000 3 3 1 1994 2,842 4 3 0 1989 2,362 3 2 0 1976 1,820 3 3 1 1986 2,240 5 5 2 2016 4,638 6 6 1 2002 5,885 6 6 2 1980 5,335 5 4 1 2016 4,144 6 6 2 2001 4,976 5 5 1 1993 5,701 6 6 1 1998 4,320 7 6 1 1998 5,158 7 6 1 2006 5,179 4 4 1 1992 3,236 4 3 0 1999 2,818 5 3 1 1976 2,768 4 4 1 1989 3,409 3 3 0 1979 2,515 4 4 1 1998 2,749 4 4 1 1988 3,160 3 2 1 1990 2,521 4 3 1 1974 2,497 5 4 1 1998 2,894 3 2 0 2000 2,111 3 3 0 1985 2,330 3 2 0 1982 1,958 4 3 2 1973 3,648

Palmetto Dunes Lot Listings LIST PRICE CLOSE PRICE $6,950,000 $4,695,000 $4,595,000 $4,299,000 $4,150,000 $3,995,000 $3,799,000 $3,388,000 $3,250,000 $3,100,000 $2,795,000 $1,999,000 $1,995,000 $1,895,000 $1,749,000 $1,695,000 $1,490,000 $1,439,000 $1,399,000 $1,395,000 $1,395,000 $1,395,000 $1,349,000 $1,299,000 $1,295,000 $1,295,000 $1,275,000 $1,195,000 $1,190,000 $1,175,000 $1,100,000 $1,100,000 $995,000 $995,000 $989,500 $954,900 $909,000 $899,900 $899,000 $899,000 $895,000 $799,900 $799,900 $799,500 $799,000 $799,000 $769,990 $769,000 $749,000 $745,000 $729,000 $699,999 $699,000 $699,000 $699,000 $688,000 $649,000 $644,900 $629,000 $629,000 $588,900 $569,000 $499,900 $3,895,000 $2,250,000 $1,995,000 $1,639,000 $1,395,000 $899,500 $832,900 $775,000 $729,485 $629,000 $399,000 $4,500,000 $3,995,000 $2,995,000 $1,995,000 $1,795,000 $1,695,000 $1,650,000 $1,399,000 $1,199,900 $1,075,000 $995,000 $995,000 $905,000 $899,000 $749,000 $714,000 $699,000 $679,000 $665,000 $649,000 $489,000 $429,000 $399,000

----------------------------------------------------------------------------------------------------------------------------------------------------$4,235,000 $3,850,000 $2,750,000 $1,845,000 $1,680,000 $1,600,000 $1,585,000 $1,250,000 $1,225,000 $970,000 $970,000 $930,000 $885,000 $875,000 $727,500 $680,000 $675,000 $660,000 $610,000 $605,000 $440,000 $425,000 $376,000

STATUS SUB-AREA Active Active Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold

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

ADDRESS 15 Brigantine 6 Night Harbour 9 Long Boat 4 Flotilla 3 Long Boat 2 Junket 126 Mooring Buoy 38 Sea Lane 6 Strath Court 2 Promontory Court 1 Promontory Court 86 Port Tack 17 Heath Drive 16 Cartgate Drive 107 Mooring Buoy 79 Mooring Buoy 5 Rum Row 6 Brigantine 5 Cat Boat 3 Port Tack 20 Starboard Tack 13 Full Sweep 40 Swing About 48 Off Shore

APPROX. LOT SIZE (ACRES) Ocean 0.3626 Ocean 0.3111 Ocean 0.3101 Ocean 0.3434 Ocean 0.3902 Landscape 0.32 Wooded 0.3557 Lagoon/Canal 0.5281 Lagoon/Canal 0.2634 Landscape, Wooded 0.5782 Golf 0.5921 Lagoon/Canal, Lake 0.542 Wooded 0.2784 Wooded 0.2783 Wooded 0.5129 Wooded 0.5126 Golf 0.4585 Landscape 0.3454 Wooded 0.3915 Lagoon/Canal 0.51 Lagoon/Canal 0.4921 Lake 0.4277 Golf, Landscape 0.5036 Golf 0.4568 VIEW

Definitions for Listings

LIST PRICE CLOSE PRICE $3,769,000 $2,999,000 $2,890,000 $1,299,000 $950,000 $770,000 $770,000 $649,000 $499,000 $279,000 $275,000 $264,000 $250,000 $249,900 $629,000 $575,000 $289,000 $807,000 $790,000 $550,000 $332,000 $250,000 $225,000 $185,000

Active - On the Market Pending - Under Contract Sold - Closed Between May 1, 2017 and July 31, 2017

----------------------------------$807,000 $790,000 $550,000 $332,000 $250,000 $225,000 $185,000

A decade after the Great Recession, the housing market is rebounding. House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale. - SEAN BECKETTI, FREDDIE MAC CHIEF ECONOMIST

Don’t Miss Out On This Historic Opportunity • Home prices around the country are higher than ever. • Unlike the rest of the country, home prices in the Hilton Head Island-Bluffton area are still 25% below the “higher-than-ever” prices. • Interest rates are at near-record-lows. • The timing is excellent to move to, or invest in, real estate in the Hilton Head Island-Bluffton area!