N M E A W R T K O E T
THE STATE of the Palmetto Dunes Real Estate Market
June 2017 KEY METRICS
May 2017 in Review
Palmetto Dunes’ sales in the first five months of 2017 are comparable to last year: 15 homes closed this year compared to 18 homes last year. The first five months’ total dollar volume of homes sold in 2017 was $19,252,500, down from $20,997,400 in 2016. Supply and demand: there are currently 73 homes listed for sale with an average of 3.00 homes selling per month over the past five months. That translates into a 24-month supply, considered by industry experts to be a Buyers market. As of June 15th, 2017, there were eight homes pending/under contract. In the lot realm, six lots closed this year compared to only two in the first five months of 2016. Additionally, there is one lot pending/under contract and 14 lots marketed for sale.
Direct Oceanfront Views Await You! This beautiful 1st-floor villa offers breathtaking views of the Atlantic Ocean. Fabulous open floor plan with family room, dining area, breakfast nook, and kitchen. The kitchen has stainless steel appliances and granite counters. Luxury vinyl floors throughout main living area, travertine in the bathrooms, and carpet in bedrooms. Private balcony off the bedroom and family rooms. Hampton Place Villas offers residents two oceanfront swimming pools with sun decks, a spa, a fitness center, and a grill area. Under garage parking and private locked storage for your convenience. It’s a great investment property and can generate $85,000 - $90,000 of rental income a year.
47 Ocean Lane, Suite 5108, Palmetto Dunes (Hampton Place Villas)
How’s the Hilton Head Island - Bluffton Real Estate Market? 3
3
Bedrooms
Bathrooms
1,971 Htd. Square Feet
$1,275,000
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+
The Hilton Head Island-Bluffton housing market continues to be on fire, setting the all-time record for the first five 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 five months’ record of 1,059 homes sold. In the first five months of 2017 though, 1,282 homes were sold. In other positive news, home values in just the first five months of 2017 were up 3.4% over 2016 prices, but still 24.7% below the peak set in 2005. If the record-setting pace of sales continues, we could see an annual appreciation rate in the neighborhood of 7%, meaning that a $500,000 home a year from now could sell for $535,000. 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, Detached
Historical Median Sales Price Rolling 12-Month Calculation
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 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.hiltonheadhomevalues.com or contact us at 843-290-5828.
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.
PRSRT STD US POSTAGE PAID Permit 73
Inventory of Homes For Sale
Number of Closed Home Sales
Total Value of Homes Closed
100
20
$25,000,000
80
16
$20,000,000
60
12
$15,000,000
40
8
$10,000,000
20
4
$5,000,000
Hilton Head Is., SC
64
0
On 05/31/16
73
On 05/31/17
18
0
1st Five Months of 2016
15
1st Five Months of 2017
0
$20,997,400
$19,252,500
1st Five Months of 2016
1st Five 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 June 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.
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 Active Active Pending Pending Pending Pending Pending Pending Pending Pending 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 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 Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness 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 Mariners 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
ADDRESS
VIEW
8 & 6 & 4 Galleon 9 Highrigger 12 Brigantine 9 Catboat 9 Junket 17 Armada Street 11 Dinghy 10 Highrigger 11 Catboat 19 Armada Street 6 Armada 11 Sea Lane 5 Junket 162 Mooring Buoy 164 Mooring Buoy 176 Mooring Buoy 4 Ketch 3 Junket 1 Eastwind 3 Flotilla 14 Port Tack 1 Night Harbour 6 Flotilla 9 High Water 44 Sea Lane 48 Sea Lane 6 Dinghy 4 Haul Away 4 Catboat 167 Mooring Buoy 29 Port Tack 2 Lee Shore 1 Armada Street 19 Port Tack 144 Mooring Buoy 2 Rum Row 7 Slack Tide 136 Mooring Buoy 42 Mooring Buoy 39 Full Sweep 44 Mooring Buoy 142 Mooring Buoy 122 Mooring Buoy 13 Sea Lane 75 Off Shore 40 Starboard Tack 81 Port Tack 5 Midstream 35 Full Sweep 6 Topside 32 Off Shore 5 Hunt Club Court 15 Promontory Court 4 Ginger Beer Court 5 Cockle Court 8 Cottage Court 14 Promontory Court 1 Cockle Court 22 Heath Drive 11 Saint George Road 7 Ginger Beer Court 22 Promontory Court 12 Promontory Court 8 Saint George Road 19 Cartgate Drive 3 Galleon 6 Iron Clad 54 Mooring Buoy 3 Lookout 34 Sea Lane 18 Full Sweep 3 Full Sweep 5 Off Shore 12 Armada Street 8 Flotilla 9 Iron Clad 159 Mooring Buoy 4 Brigantine 179 Mooring Buoy 5 Burns Court 46 Haul Away 50 Haul Away 6 Flagg Road 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 Golf, Pool Ocean Ocean, Wooded Landscape, Pool Golf, Lagoon Ocean Wooded Landscape Landscape Golf, Lagoon Golf, Pool Landscape, Pool Lagoon Lagoon Lagoon Landscape, Wooded Lagoon Landscape, Pool Lagoon, Pool Golf, Lagoon Wooded Wooded Golf Pool, Wooded Lagoon, Pool Golf, Lagoon Pool, Wooded Landscape, Pool Lagoon, Lake Landscape Landscape Golf Lagoon, Pool Lagoon Lagoon Lagoon, Pool Lake Lake Golf Landscape, Pool Golf, Lagoon Landscape, Pool Lagoon Lagoon, Pool Pool, Wooded Landscape, Pool Golf, Pool Lagoon, River Golf Pool, Wooded Landscape, Wooded Golf Wooded Ocean, Wooded Ocean, Pool Landscape Golf, Lagoon Lagoon Golf, Lagoon Lake, Pool Lagoon Ocean Ocean Ocean Lagoon, Pool Ocean Lagoon Golf Lagoon, Pool Lagoon Landscape, Pool Lake Landscape, Pool Golf, Pool Landscape, Wooded Golf Lagoon, Pool
TOTAL YEAR APPROX. FULL BATHS HALF BATHS BEDROOMS BUILT SQ. FOOTAGE 10 10 1 1978 9,514 5 6 0 1999 4,633 6 5 1 1981 5,600 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 1995 4,992 4 4 1 1971 5,342 4 4 1 1987 3,842 6 6 1 2016 4,431 5 5 2 2005 7,056 6 6 1 1984 5,112 5 4 2 1990 4,844 5 5 2 1979 3,680 5 6 2 1980 4,561 6 6 1 1992 4,022 5 5 1 1992 4,591 5 4 1 1984 3,038 5 5 0 1981 3,966 4 3 1 1982 3,173 6 6 1 1981 3,487 5 4 1 1990 3,292 7 7 2 1987 4,604 4 3 1 1984 2,680 6 4 0 1988 5,087 4 4 1 1983 2,710 5 4 1 2002 6,064 5 5 0 1989 4,012 5 4 0 1992 2,923 6 5 1 1974 5,802 5 5 0 1994 3,005 3 3 0 1979 2,477 4 3 1 1972 3,239 3 3 0 1973 2,132 5 4 0 1975 3,916 4 3 1 2003 3,263 3 3 0 1981 2,505 4 4 0 1979 2,361 4 4 1 2003 3,411 5 4 0 1979 2,600 3 4 0 1975 2,100 4 4 0 1970 2,648 4 3 1 1993 3,062 4 4 0 2000 3,000 4 4 0 1974 3,840 3 3 0 1995 2,438 3 3 0 1981 2,064 4 4 0 1987 2,543 3 3 0 1989 2,452 3 2 1 1986 1,818 5 5 0 1999 3,870 4 4 0 1982 2,506 5 4 2 2000 3,968 3 3 1 1994 2,842 5 4 0 1994 2,542 3 3 1 1999 2,538 6 5 0 1981 2,846 4 4 0 1981 2,500 4 4 1 1983 3,435 3 3 0 1983 2,407 3 2 1 1994 2,873 3 2 1 1985 2,330 3 2 0 1976 1,820 3 3 0 1995 1,956 5 5 1 1993 5,701 6 6 1 1998 4,320 5 4 1 2013 3,624 7 6 1 2006 5,179 5 3 1 1976 2,768 3 3 0 1979 2,515 4 4 1 1988 3,160 3 2 1 1990 2,521 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 7 6 1 1998 5,158 4 4 1 1992 3,236 4 3 0 1999 2,818 4 4 1 1989 3,409 4 4 1 1998 2,749 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 $4,895,000 $4,695,000 $4,299,000 $4,150,000 $3,995,000 $3,899,000 $3,895,000 $3,300,000 $3,250,000 $2,795,000 $2,250,000 $1,999,000 $1,995,000 $1,995,000 $1,895,000 $1,795,000 $1,695,000 $1,495,000 $1,495,000 $1,490,000 $1,489,000 $1,439,000 $1,399,000 $1,395,000 $1,395,000 $1,395,000 $1,299,000 $1,295,000 $1,295,000 $1,295,000 $1,275,000 $1,175,000 $1,150,000 $1,100,000 $999,000 $995,000 $989,500 $969,900 $919,000 $899,500 $895,000 $895,000 $849,500 $834,900 $825,000 $799,000 $725,000 $689,000 $649,000 $499,900 $995,000 $939,900 $899,000 $849,000 $799,900 $769,000 $759,000 $755,000 $729,000 $724,000 $649,900 $649,900 $629,000 $599,000 $1,695,000 $1,650,000 $1,649,000 $1,199,900 $995,000 $899,000 $714,000 $699,000 $4,500,000 $3,995,000 $2,995,000 $1,995,000 $1,795,000 $1,399,000 $1,075,000 $995,000 $905,000 $749,000 $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 $1,250,000 $970,000 $970,000 $885,000 $727,500 $660,000 $610,000 $605,000 $440,000 $425,000 $376,000
APPROX. LOT SIZE (ACRES) Active Mariners Side 15 Brigantine Ocean 0.3626 Active Mariners Side 6 Night Harbour Ocean 0.3111 Active Mariners Side 9 Long Boat Ocean 0.3101 Active Mariners Side 4 Flotilla Ocean 0.3434 Active Mariners Side 3 Long Boat Ocean 0.3902 Active Mariners Side 2 Junket Landscape 0.3634 Active Mariners Side 126 Mooring Buoy Wooded 0.3557 Active Mariners Side 38 Sea Lane Lagoon 0.5281 Active Inverness Side 6 Strath Court Lagoon 0.2634 Active Mariners Side 5 Rum Row Golf 0.4585 Active Inverness Side 2 Promontory Court Landscape, Wooded 0.5782 Active Inverness Side 1 Promontory Court Golf 0.5921 Active Mariners Side 86 Port Tack Lagoon, Lake 0.542 Active Inverness Side 16 Cartgate Drive Wooded 0.2783 Pending Mariners Side 48 Off Shore Golf 0.4568 Sold Mariners Side 6 Brigantine Landscape 0.3454 Sold Mariners Side 5 Cat Boat Wooded 0.3915 Sold Mariners Side 3 Port Tack Lagoon 0.51 Sold Mariners Side 20 Starboard Tack Lagoon 0.4921 Sold Mariners Side 13 Full Sweep Lake 0.4277 Sold Mariners Side 40 Swing About Golf, Landscape 0.5036
STATUS SUB-AREA
ADDRESS
VIEW
LIST PRICE CLOSE PRICE $3,769,000 $2,999,000 $2,890,000 $1,599,000 $950,000 $799,000 $775,000 $669,000 $499,000 $289,000 $279,000 $275,000 $269,000 $249,900 $199,900 $807,000 $790,000 $550,000 $332,000 $250,000 $225,000
------------------------------$807,000 $790,000 $550,000 $332,000 $250,000 $225,000
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between March 1, 2017 and May 31, 2017
Monthly Mortgage Payment on a Median Priced Home in the U.S. (1990-Today) $1,305
$1,300 $1,250
KEY TRENDS
Source: KeepingCurrentMatters.com, June 2017
$1,350 $1,245
$1,200
$1,184
$1,150 $1,100 $1,050 $1,000 $950
$939
$900 $850 $800
$778
$750 $700 $650 $600
$664
2006
Palmetto Dunes Home Listings
1990
1995
2000
2005
2010
2015
Today
Joint Center for Housing Studies, Harvard University and The National Association of Realtors
Home affordability is still at record levels. Except for the recession years, the mortgage payment on a median priced home in America is lower today than it has been since 1990. Isn’t it amazing that your monthly mortgage payment on a median priced home is substantially less than it was in 1990! What a great time to purchase a home! Or invest in a second home or rental property! However, prices are rising and interest rates are expected to rise, so time is of the essence for those looking to purchase a home, condo or vacation property.
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 Active Active Pending Pending Pending Pending Pending Pending Pending Pending 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 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 Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness Side Inverness 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 Mariners 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
ADDRESS
VIEW
8 & 6 & 4 Galleon 9 Highrigger 12 Brigantine 9 Catboat 9 Junket 17 Armada Street 11 Dinghy 10 Highrigger 11 Catboat 19 Armada Street 6 Armada 11 Sea Lane 5 Junket 162 Mooring Buoy 164 Mooring Buoy 176 Mooring Buoy 4 Ketch 3 Junket 1 Eastwind 3 Flotilla 14 Port Tack 1 Night Harbour 6 Flotilla 9 High Water 44 Sea Lane 48 Sea Lane 6 Dinghy 4 Haul Away 4 Catboat 167 Mooring Buoy 29 Port Tack 2 Lee Shore 1 Armada Street 19 Port Tack 144 Mooring Buoy 2 Rum Row 7 Slack Tide 136 Mooring Buoy 42 Mooring Buoy 39 Full Sweep 44 Mooring Buoy 142 Mooring Buoy 122 Mooring Buoy 13 Sea Lane 75 Off Shore 40 Starboard Tack 81 Port Tack 5 Midstream 35 Full Sweep 6 Topside 32 Off Shore 5 Hunt Club Court 15 Promontory Court 4 Ginger Beer Court 5 Cockle Court 8 Cottage Court 14 Promontory Court 1 Cockle Court 22 Heath Drive 11 Saint George Road 7 Ginger Beer Court 22 Promontory Court 12 Promontory Court 8 Saint George Road 19 Cartgate Drive 3 Galleon 6 Iron Clad 54 Mooring Buoy 3 Lookout 34 Sea Lane 18 Full Sweep 3 Full Sweep 5 Off Shore 12 Armada Street 8 Flotilla 9 Iron Clad 159 Mooring Buoy 4 Brigantine 179 Mooring Buoy 5 Burns Court 46 Haul Away 50 Haul Away 6 Flagg Road 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 Golf, Pool Ocean Ocean, Wooded Landscape, Pool Golf, Lagoon Ocean Wooded Landscape Landscape Golf, Lagoon Golf, Pool Landscape, Pool Lagoon Lagoon Lagoon Landscape, Wooded Lagoon Landscape, Pool Lagoon, Pool Golf, Lagoon Wooded Wooded Golf Pool, Wooded Lagoon, Pool Golf, Lagoon Pool, Wooded Landscape, Pool Lagoon, Lake Landscape Landscape Golf Lagoon, Pool Lagoon Lagoon Lagoon, Pool Lake Lake Golf Landscape, Pool Golf, Lagoon Landscape, Pool Lagoon Lagoon, Pool Pool, Wooded Landscape, Pool Golf, Pool Lagoon, River Golf Pool, Wooded Landscape, Wooded Golf Wooded Ocean, Wooded Ocean, Pool Landscape Golf, Lagoon Lagoon Golf, Lagoon Lake, Pool Lagoon Ocean Ocean Ocean Lagoon, Pool Ocean Lagoon Golf Lagoon, Pool Lagoon Landscape, Pool Lake Landscape, Pool Golf, Pool Landscape, Wooded Golf Lagoon, Pool
TOTAL YEAR APPROX. FULL BATHS HALF BATHS BEDROOMS BUILT SQ. FOOTAGE 10 10 1 1978 9,514 5 6 0 1999 4,633 6 5 1 1981 5,600 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 1995 4,992 4 4 1 1971 5,342 4 4 1 1987 3,842 6 6 1 2016 4,431 5 5 2 2005 7,056 6 6 1 1984 5,112 5 4 2 1990 4,844 5 5 2 1979 3,680 5 6 2 1980 4,561 6 6 1 1992 4,022 5 5 1 1992 4,591 5 4 1 1984 3,038 5 5 0 1981 3,966 4 3 1 1982 3,173 6 6 1 1981 3,487 5 4 1 1990 3,292 7 7 2 1987 4,604 4 3 1 1984 2,680 6 4 0 1988 5,087 4 4 1 1983 2,710 5 4 1 2002 6,064 5 5 0 1989 4,012 5 4 0 1992 2,923 6 5 1 1974 5,802 5 5 0 1994 3,005 3 3 0 1979 2,477 4 3 1 1972 3,239 3 3 0 1973 2,132 5 4 0 1975 3,916 4 3 1 2003 3,263 3 3 0 1981 2,505 4 4 0 1979 2,361 4 4 1 2003 3,411 5 4 0 1979 2,600 3 4 0 1975 2,100 4 4 0 1970 2,648 4 3 1 1993 3,062 4 4 0 2000 3,000 4 4 0 1974 3,840 3 3 0 1995 2,438 3 3 0 1981 2,064 4 4 0 1987 2,543 3 3 0 1989 2,452 3 2 1 1986 1,818 5 5 0 1999 3,870 4 4 0 1982 2,506 5 4 2 2000 3,968 3 3 1 1994 2,842 5 4 0 1994 2,542 3 3 1 1999 2,538 6 5 0 1981 2,846 4 4 0 1981 2,500 4 4 1 1983 3,435 3 3 0 1983 2,407 3 2 1 1994 2,873 3 2 1 1985 2,330 3 2 0 1976 1,820 3 3 0 1995 1,956 5 5 1 1993 5,701 6 6 1 1998 4,320 5 4 1 2013 3,624 7 6 1 2006 5,179 5 3 1 1976 2,768 3 3 0 1979 2,515 4 4 1 1988 3,160 3 2 1 1990 2,521 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 7 6 1 1998 5,158 4 4 1 1992 3,236 4 3 0 1999 2,818 4 4 1 1989 3,409 4 4 1 1998 2,749 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 $4,895,000 $4,695,000 $4,299,000 $4,150,000 $3,995,000 $3,899,000 $3,895,000 $3,300,000 $3,250,000 $2,795,000 $2,250,000 $1,999,000 $1,995,000 $1,995,000 $1,895,000 $1,795,000 $1,695,000 $1,495,000 $1,495,000 $1,490,000 $1,489,000 $1,439,000 $1,399,000 $1,395,000 $1,395,000 $1,395,000 $1,299,000 $1,295,000 $1,295,000 $1,295,000 $1,275,000 $1,175,000 $1,150,000 $1,100,000 $999,000 $995,000 $989,500 $969,900 $919,000 $899,500 $895,000 $895,000 $849,500 $834,900 $825,000 $799,000 $725,000 $689,000 $649,000 $499,900 $995,000 $939,900 $899,000 $849,000 $799,900 $769,000 $759,000 $755,000 $729,000 $724,000 $649,900 $649,900 $629,000 $599,000 $1,695,000 $1,650,000 $1,649,000 $1,199,900 $995,000 $899,000 $714,000 $699,000 $4,500,000 $3,995,000 $2,995,000 $1,995,000 $1,795,000 $1,399,000 $1,075,000 $995,000 $905,000 $749,000 $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 $1,250,000 $970,000 $970,000 $885,000 $727,500 $660,000 $610,000 $605,000 $440,000 $425,000 $376,000
APPROX. LOT SIZE (ACRES) Active Mariners Side 15 Brigantine Ocean 0.3626 Active Mariners Side 6 Night Harbour Ocean 0.3111 Active Mariners Side 9 Long Boat Ocean 0.3101 Active Mariners Side 4 Flotilla Ocean 0.3434 Active Mariners Side 3 Long Boat Ocean 0.3902 Active Mariners Side 2 Junket Landscape 0.3634 Active Mariners Side 126 Mooring Buoy Wooded 0.3557 Active Mariners Side 38 Sea Lane Lagoon 0.5281 Active Inverness Side 6 Strath Court Lagoon 0.2634 Active Mariners Side 5 Rum Row Golf 0.4585 Active Inverness Side 2 Promontory Court Landscape, Wooded 0.5782 Active Inverness Side 1 Promontory Court Golf 0.5921 Active Mariners Side 86 Port Tack Lagoon, Lake 0.542 Active Inverness Side 16 Cartgate Drive Wooded 0.2783 Pending Mariners Side 48 Off Shore Golf 0.4568 Sold Mariners Side 6 Brigantine Landscape 0.3454 Sold Mariners Side 5 Cat Boat Wooded 0.3915 Sold Mariners Side 3 Port Tack Lagoon 0.51 Sold Mariners Side 20 Starboard Tack Lagoon 0.4921 Sold Mariners Side 13 Full Sweep Lake 0.4277 Sold Mariners Side 40 Swing About Golf, Landscape 0.5036
STATUS SUB-AREA
ADDRESS
VIEW
LIST PRICE CLOSE PRICE $3,769,000 $2,999,000 $2,890,000 $1,599,000 $950,000 $799,000 $775,000 $669,000 $499,000 $289,000 $279,000 $275,000 $269,000 $249,900 $199,900 $807,000 $790,000 $550,000 $332,000 $250,000 $225,000
------------------------------$807,000 $790,000 $550,000 $332,000 $250,000 $225,000
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between March 1, 2017 and May 31, 2017
Monthly Mortgage Payment on a Median Priced Home in the U.S. (1990-Today) $1,305
$1,300 $1,250
KEY TRENDS
Source: KeepingCurrentMatters.com, June 2017
$1,350 $1,245
$1,200
$1,184
$1,150 $1,100 $1,050 $1,000 $950
$939
$900 $850 $800
$778
$750 $700 $650 $600
$664
2006
Palmetto Dunes Home Listings
1990
1995
2000
2005
2010
2015
Today
Joint Center for Housing Studies, Harvard University and The National Association of Realtors
Home affordability is still at record levels. Except for the recession years, the mortgage payment on a median priced home in America is lower today than it has been since 1990. Isn’t it amazing that your monthly mortgage payment on a median priced home is substantially less than it was in 1990! What a great time to purchase a home! Or invest in a second home or rental property! However, prices are rising and interest rates are expected to rise, so time is of the essence for those looking to purchase a home, condo or vacation property.
N M E A W R T K O E T
THE STATE of the Palmetto Dunes Real Estate Market
June 2017 KEY METRICS
May 2017 in Review
Palmetto Dunes’ sales in the first five months of 2017 are comparable to last year: 15 homes closed this year compared to 18 homes last year. The first five months’ total dollar volume of homes sold in 2017 was $19,252,500, down from $20,997,400 in 2016. Supply and demand: there are currently 73 homes listed for sale with an average of 3.00 homes selling per month over the past five months. That translates into a 24-month supply, considered by industry experts to be a Buyers market. As of June 15th, 2017, there were eight homes pending/under contract. In the lot realm, six lots closed this year compared to only two in the first five months of 2016. Additionally, there is one lot pending/under contract and 14 lots marketed for sale.
Direct Oceanfront Views Await You! This beautiful 1st-floor villa offers breathtaking views of the Atlantic Ocean. Fabulous open floor plan with family room, dining area, breakfast nook, and kitchen. The kitchen has stainless steel appliances and granite counters. Luxury vinyl floors throughout main living area, travertine in the bathrooms, and carpet in bedrooms. Private balcony off the bedroom and family rooms. Hampton Place Villas offers residents two oceanfront swimming pools with sun decks, a spa, a fitness center, and a grill area. Under garage parking and private locked storage for your convenience. It’s a great investment property and can generate $85,000 - $90,000 of rental income a year.
47 Ocean Lane, Suite 5108, Palmetto Dunes (Hampton Place Villas)
How’s the Hilton Head Island - Bluffton Real Estate Market? 3
3
Bedrooms
Bathrooms
1,971 Htd. Square Feet
$1,275,000
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+
The Hilton Head Island-Bluffton housing market continues to be on fire, setting the all-time record for the first five 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 five months’ record of 1,059 homes sold. In the first five months of 2017 though, 1,282 homes were sold. In other positive news, home values in just the first five months of 2017 were up 3.4% over 2016 prices, but still 24.7% below the peak set in 2005. If the record-setting pace of sales continues, we could see an annual appreciation rate in the neighborhood of 7%, meaning that a $500,000 home a year from now could sell for $535,000. 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, Detached
Historical Median Sales Price Rolling 12-Month Calculation
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 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.hiltonheadhomevalues.com or contact us at 843-290-5828.
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.
PRSRT STD US POSTAGE PAID Permit 73
Inventory of Homes For Sale
Number of Closed Home Sales
Total Value of Homes Closed
100
20
$25,000,000
80
16
$20,000,000
60
12
$15,000,000
40
8
$10,000,000
20
4
$5,000,000
Hilton Head Is., SC
64
0
On 05/31/16
73
On 05/31/17
18
0
1st Five Months of 2016
15
1st Five Months of 2017
0
$20,997,400
$19,252,500
1st Five Months of 2016
1st Five 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 June 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.