THE STATE
O L
D
of the Rose Hill Real Estate Market
March 2018
S
S
O L
D
Our Portfolio of Fine Property Sales in Rose Hill
KEY METRICS
52 Rose Hill Drive, Rose Hill
58 Rose Hill Drive, Rose Hill
This home is unlike any other in Bluffton and is located just a short walk to the community dock and amenities. The lushly landscaped private pool and chipping green can be seen through the large unobstructed windows and very high ceilings with custom crown molding. Grand pillars support an impressive cat walk and hallway linking the owners quarters and office to the main house. A formal dining room and a large kitchen with new stainless appliances, granite, and custom cabinetry round out the home.
This stunningly renovated Estate home is the epitome of Lowcountry living. Situated on one of the most scenic 1+ acre lots in the community, it is just a short walk to the Colleton River dock, community pool and tennis facility. The Southern style front porch overlooks a quiet well-maintained front yard, while the rear of the home overlooks an expansive partially wooded yard and lagoon view. The open home boasts hardwood floors, an office, an updated kitchen, a fireplace, a wet bar, a Carolina room and more!
In Rose Hill: Golf and Estate Side, six homes closed in the first two months of 2018, which is almost the same amount as the seven that closed during the same time last year. January and February 2018’s total dollar volume was $2.938M, down compared to $3.232 in 2017. Supply and demand: as of March 2nd, 2018, there are 20 Rose Hill: Golf and Estate Side homes listed for sale with an average of 3.17 homes selling per month over the last six months. That translates into a 6.31-month supply, considered by industry experts to be a buyer’s market. There are 11 homes under contract in Rose Hill.
6
$366,500
93.67%
120
Total Sales
Median Price
Sale to List Price
Median Days on Market
O L S
S
O L
D
3 Bedrooms | 2.5 Bathrooms | 2,236 Htd. SqFt | $422,000 - Sold for original asking price!
D
5 Bedrooms | 4.5 Bathrooms | 3,642 Htd. SqFt | $663,500
February 2018 in Review
Greater Bluffton Real Estate Market Overview
9 Fair Hope Lane, Rose Hill
ACTIVE LISTINGS IN GREATER BLUFFTON
209 Whiteoaks Circle, Rose Hill - Brought the buyer!
3 Bedrooms | 2.5 Bathrooms | 2,014 Htd. SqFt | $320,000
3 Bedrooms | 2.5 Bathrooms | 2,200 Htd. SqFt | $370,000
Fabulous two-story home located at the end of a quiet cul-de-sac and overlooking beautiful open parkland. The home’s features include an entry foyer, living room, first-floor master suite, formal dining room, upgraded kitchen with Corian counters and stainless steel appliances, granite and tile in both full bathrooms, a huge screened-in patio, two-car garage with heated and cooled den/office (added using 1/4 of the garage space). Additional touches include storage over the garage and spray foam insulation.
With a new energy efficient HVAC system, this beautiful home boasts hardwood and detailed moldings in the main living area. The eat-in kitchen is updated with 54” maple cabinetry, granite, s/s appliances, a breakfast bar and pantry. The large great room has surround sound wiring, vaulted ceilings and a fireplace. The large master suite with tray ceilings offers a newly renovated bath, stand-alone shower and walk-in closet. There is also a 2nd floor bonus room with built-ins and half bath, a screened porch and patio!
COMMUNITY SPECIALIST Thomas Kersey is your Rose Hill Real Estate Specialist. Contact me for a complimentary home valuation and
discover how I can increase your property’s visibility both nationally and internationally through Engel & Völkers global real estate network, unique digital platforms, social media presence, and local market expertise.
Thomas Kersey, 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 • 843-258-5597 Email • thomas.kersey@evusa.com Website • www.thomaskersey.evusa.com ©2018 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
Hilton Head Is., SC
730 How’s the Bluffton Real Estate Market Doing?
YTD Greater Bluffton Home Sales YTD Through February 28 for Each Year
Year
Number of Homes Sold
Median Price
2013
195
$239,000
2014
178
$240,000
2015
198
$249,000
2016
229
$279,000
2017
237
$298,000
2018
265
$310,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first two months, according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, the first two months of homes sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2006 at 148 sales. As you can see in the chart to the left in first two months of 2018 though, 265 homes were sold, bettering the pre-recession peak by an extraordinary 79%! As the demand for Greater Bluffton continues to outpace supply, the median price has risen 4% from last year and is at an all-time high. With increasing demand and today’s historically low interest rates, it is an exceptional time to invest in real estate in our area. This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2018 through March 7, 2018. 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.
Rose Hill: Golf and Estate Side Home Listings
Source: Hilton Head Multiple Listing Service, March 2018
Median Price of Homes Sold Each Year
Median Prices of Homes Sold Hilton Head Island/Bluffton 2005-2017
$500,000 $430,000
$400,000
$378,000 $383,000 $333,000
$325,000
$300,000
$283,000
$322,000 $305,000
$253,000
$280,000
$266,000 $259,000
$275,000
$200,000 17
20
16
20
15
20
14
20
13
20
12
20
11
20
10
20
09
20
08
20
07
20
06
20
05
Because of the sustained improvement of the last seven years in the number of sales, the median price of homes, according to MLS data, is on the way up. The median price of homes sold in 2017 was 3.4% over 2016. The good news is that homes are still 23% below the Pre-Recession peak set in 2005.
How Much Does Waiting To Buy Your Next Home Cost You?
KEY TRENDS
Source: Keeping Current Matters, March 2018
Definitions for Listings
KEY TRENDS
KEY TRENDS
Home Prices Are On Their Way Up 3.4% Over The Previous Year!
20
TOTAL APPROX. YEAR STATUS ADDRESS VIEW FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT Active 20 Martingale E Wooded 4 3 3 5,486 1992 $895,000 --Active 6 Longview Lane Deep Water, Wooded 4 3 1 3,840 2000 $849,950 --Active 14 Ghost Pony Road Landscape 4 3 2 4,569 1995 $795,000 --Active 7 Kirk Court Landscape, Wooded 4 3 1 3,282 2002 $744,900 --Active 4 Windlass Court Lagoon 4 3 1 3,013 2017 $695,000 --Active 38 Fairway Drive Golf 4 3 1 3,200 1990 $639,000 --Active 2 Mirabell Court Landscape 4 3 1 4,275 1996 $599,000 --Active 4 Mirabell Court Lake 4 3 0 3,233 2001 $579,000 --Active 6 Amberly Landscape 4 3 0 3,772 1994 $549,000 --Active 204 Whiteoaks Circle Golf 4 3 1 3,682 2004 $499,000 --Active 234 Club Gate Golf 4 3 1 3,801 2007 $459,900 --Active 182 Sumter Square Lagoon 4 2 1 2,400 1999 $435,000 --Active 282 Club Gate Landscape 3 2 0 1,900 2018 $399,000 --Active 278 Club Gate Landscape 4 3 0 2,171 2017 $354,900 --Active 23 Sorrelwood Lane Lagoon 3 2 0 1,860 2001 $324,500 --Active 18 Wood Eden Lane Golf, Lagoon 3 2 0 1,706 1995 $299,999 --Active 34 Sorrelwood Lane Landscape 3 2 0 1,676 2002 $299,900 --Active 2 Pipers Pond Road Golf, Lagoon 3 2 0 1,619 1998 $299,900 --Active 19 Coventry Court Golf, Lagoon 3 2 1 1,860 1989 $295,000 --Active 4 Wood Eden Lane Lagoon 3 2 0 1,482 1983 $239,000 --Pending 53 Whiteoaks Circle Landscape 4 3 1 2,600 1999 $449,000 --Pending 39 Whiteoaks Circle Lagoon, Landscape 3 3 0 2,779 1991 $435,500 --Pending 9 Kirk Court Landscape 4 2 1 3,715 1996 $399,000 --Pending 34 Pipers Pond Road Golf 4 3 0 2,300 2004 $379,900 --Pending 36 Pipers Pond Road Golf 3 2 0 1,937 1992 $359,000 --Pending 10 Fair Hope Lane Landscape, Wooded 3 2 0 1,690 1996 $329,000 --Pending 9 Fair Hope Lane Landscape, Wooded 3 2 1 2,014 1996 $320,000 --Pending 18 Coventry Court Lagoon 3 2 0 1,874 1989 $299,000 --Pending 7 Fair Hope Lane Lagoon, Wooded 3 2 0 1,783 1997 $269,900 --Sold 3 Queen Crescent Landscape 4 4 1 5,257 2006 $1,249,000 $1,175,000 Sold 10 Kirk Court Wooded 5 3 0 3,595 1997 $599,000 $585,500 Sold 25 Martingale E Lagoon, Wooded 4 3 2 4,255 1989 $510,000 $410,000 Sold 2 Sweetgum Lane Landscape 4 4 1 2,649 2017 $467,205 $460,000 Sold 5 Sorrelwood Lane Wooded 4 4 0 2,398 2017 $435,000 $435,000 Sold 40 Fairway Drive Golf, Lagoon 3 2 1 2,568 1987 $396,900 $390,000 Sold 17 Coventry Court Golf 3 2 0 1,948 1989 $349,000 $323,000 Sold 4 Crabtree Lane Landscape, Wooded 3 2 0 1,724 1995 $319,500 $298,000 Sold 75 Whiteoaks Circle Wooded 3 2 1 2,464 1990 $319,000 $290,000 Sold 244 Whiteoaks Circle Golf 3 2 2 1,870 1986 $285,000 $272,000
Active - On the Market Pending - Under Contract Sold - Closed Between December 1, 2017 and February 28, 2018
Four Reasons to Sell Your Home This Spring Source: Keeping Current Matters, March 2018
#1 - BUYER DEMAND WILL REMAIN STRONG
Buyers are out in force looking for their dream homes! Buyers are often competing with one another for the listings that are available! According to the National Association of Realtors (NAR), the median days on market for a listing was only 42 days last month!
#2 - there is less competition now
Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
#3 - THERE WILL NEVER BE A BETTER TIME TO MOVE UP
Prices are projected to appreciate by 4.3% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in both down payment and mortgage payment, if you wait.
#4 - IT’S TIME TO MOVE ON WITH YOUR LIFE Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Perhaps the time has come for you and your family to move on and start living the life you desire!
Date Today 2019
Mortgage
Interest Rate*
$500,000 4.0% $521,000 4.9% DIFFERENCE IN MONTHLY PAYMENT $378.01
P&I** $2,387.08 $2,765.09
*Average Commitment Rate Per Freddie Mac. **Principle and Interest Payment
Rose Hill: Golf and Estate Side Home Listings
Source: Hilton Head Multiple Listing Service, March 2018
Median Price of Homes Sold Each Year
Median Prices of Homes Sold Hilton Head Island/Bluffton 2005-2017
$500,000 $430,000
$400,000
$378,000 $383,000 $333,000
$325,000
$300,000
$283,000
$322,000 $305,000
$253,000
$280,000
$266,000 $259,000
$275,000
$200,000 17
20
16
20
15
20
14
20
13
20
12
20
11
20
10
20
09
20
08
20
07
20
06
20
05
Because of the sustained improvement of the last seven years in the number of sales, the median price of homes, according to MLS data, is on the way up. The median price of homes sold in 2017 was 3.4% over 2016. The good news is that homes are still 23% below the Pre-Recession peak set in 2005.
How Much Does Waiting To Buy Your Next Home Cost You?
KEY TRENDS
Source: Keeping Current Matters, March 2018
Definitions for Listings
KEY TRENDS
KEY TRENDS
Home Prices Are On Their Way Up 3.4% Over The Previous Year!
20
TOTAL APPROX. YEAR STATUS ADDRESS VIEW FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT Active 20 Martingale E Wooded 4 3 3 5,486 1992 $895,000 --Active 6 Longview Lane Deep Water, Wooded 4 3 1 3,840 2000 $849,950 --Active 14 Ghost Pony Road Landscape 4 3 2 4,569 1995 $795,000 --Active 7 Kirk Court Landscape, Wooded 4 3 1 3,282 2002 $744,900 --Active 4 Windlass Court Lagoon 4 3 1 3,013 2017 $695,000 --Active 38 Fairway Drive Golf 4 3 1 3,200 1990 $639,000 --Active 2 Mirabell Court Landscape 4 3 1 4,275 1996 $599,000 --Active 4 Mirabell Court Lake 4 3 0 3,233 2001 $579,000 --Active 6 Amberly Landscape 4 3 0 3,772 1994 $549,000 --Active 204 Whiteoaks Circle Golf 4 3 1 3,682 2004 $499,000 --Active 234 Club Gate Golf 4 3 1 3,801 2007 $459,900 --Active 182 Sumter Square Lagoon 4 2 1 2,400 1999 $435,000 --Active 282 Club Gate Landscape 3 2 0 1,900 2018 $399,000 --Active 278 Club Gate Landscape 4 3 0 2,171 2017 $354,900 --Active 23 Sorrelwood Lane Lagoon 3 2 0 1,860 2001 $324,500 --Active 18 Wood Eden Lane Golf, Lagoon 3 2 0 1,706 1995 $299,999 --Active 34 Sorrelwood Lane Landscape 3 2 0 1,676 2002 $299,900 --Active 2 Pipers Pond Road Golf, Lagoon 3 2 0 1,619 1998 $299,900 --Active 19 Coventry Court Golf, Lagoon 3 2 1 1,860 1989 $295,000 --Active 4 Wood Eden Lane Lagoon 3 2 0 1,482 1983 $239,000 --Pending 53 Whiteoaks Circle Landscape 4 3 1 2,600 1999 $449,000 --Pending 39 Whiteoaks Circle Lagoon, Landscape 3 3 0 2,779 1991 $435,500 --Pending 9 Kirk Court Landscape 4 2 1 3,715 1996 $399,000 --Pending 34 Pipers Pond Road Golf 4 3 0 2,300 2004 $379,900 --Pending 36 Pipers Pond Road Golf 3 2 0 1,937 1992 $359,000 --Pending 10 Fair Hope Lane Landscape, Wooded 3 2 0 1,690 1996 $329,000 --Pending 9 Fair Hope Lane Landscape, Wooded 3 2 1 2,014 1996 $320,000 --Pending 18 Coventry Court Lagoon 3 2 0 1,874 1989 $299,000 --Pending 7 Fair Hope Lane Lagoon, Wooded 3 2 0 1,783 1997 $269,900 --Sold 3 Queen Crescent Landscape 4 4 1 5,257 2006 $1,249,000 $1,175,000 Sold 10 Kirk Court Wooded 5 3 0 3,595 1997 $599,000 $585,500 Sold 25 Martingale E Lagoon, Wooded 4 3 2 4,255 1989 $510,000 $410,000 Sold 2 Sweetgum Lane Landscape 4 4 1 2,649 2017 $467,205 $460,000 Sold 5 Sorrelwood Lane Wooded 4 4 0 2,398 2017 $435,000 $435,000 Sold 40 Fairway Drive Golf, Lagoon 3 2 1 2,568 1987 $396,900 $390,000 Sold 17 Coventry Court Golf 3 2 0 1,948 1989 $349,000 $323,000 Sold 4 Crabtree Lane Landscape, Wooded 3 2 0 1,724 1995 $319,500 $298,000 Sold 75 Whiteoaks Circle Wooded 3 2 1 2,464 1990 $319,000 $290,000 Sold 244 Whiteoaks Circle Golf 3 2 2 1,870 1986 $285,000 $272,000
Active - On the Market Pending - Under Contract Sold - Closed Between December 1, 2017 and February 28, 2018
Four Reasons to Sell Your Home This Spring Source: Keeping Current Matters, March 2018
#1 - BUYER DEMAND WILL REMAIN STRONG
Buyers are out in force looking for their dream homes! Buyers are often competing with one another for the listings that are available! According to the National Association of Realtors (NAR), the median days on market for a listing was only 42 days last month!
#2 - there is less competition now
Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
#3 - THERE WILL NEVER BE A BETTER TIME TO MOVE UP
Prices are projected to appreciate by 4.3% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in both down payment and mortgage payment, if you wait.
#4 - IT’S TIME TO MOVE ON WITH YOUR LIFE Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Perhaps the time has come for you and your family to move on and start living the life you desire!
Date Today 2019
Mortgage
Interest Rate*
$500,000 4.0% $521,000 4.9% DIFFERENCE IN MONTHLY PAYMENT $378.01
P&I** $2,387.08 $2,765.09
*Average Commitment Rate Per Freddie Mac. **Principle and Interest Payment
THE STATE
O L
D
of the Rose Hill Real Estate Market
March 2018
S
S
O L
D
Our Portfolio of Fine Property Sales in Rose Hill
KEY METRICS
52 Rose Hill Drive, Rose Hill
58 Rose Hill Drive, Rose Hill
This home is unlike any other in Bluffton and is located just a short walk to the community dock and amenities. The lushly landscaped private pool and chipping green can be seen through the large unobstructed windows and very high ceilings with custom crown molding. Grand pillars support an impressive cat walk and hallway linking the owners quarters and office to the main house. A formal dining room and a large kitchen with new stainless appliances, granite, and custom cabinetry round out the home.
This stunningly renovated Estate home is the epitome of Lowcountry living. Situated on one of the most scenic 1+ acre lots in the community, it is just a short walk to the Colleton River dock, community pool and tennis facility. The Southern style front porch overlooks a quiet well-maintained front yard, while the rear of the home overlooks an expansive partially wooded yard and lagoon view. The open home boasts hardwood floors, an office, an updated kitchen, a fireplace, a wet bar, a Carolina room and more!
In Rose Hill: Golf and Estate Side, six homes closed in the first two months of 2018, which is almost the same amount as the seven that closed during the same time last year. January and February 2018’s total dollar volume was $2.938M, down compared to $3.232 in 2017. Supply and demand: as of March 2nd, 2018, there are 20 Rose Hill: Golf and Estate Side homes listed for sale with an average of 3.17 homes selling per month over the last six months. That translates into a 6.31-month supply, considered by industry experts to be a buyer’s market. There are 11 homes under contract in Rose Hill.
6
$366,500
93.67%
120
Total Sales
Median Price
Sale to List Price
Median Days on Market
O L S
S
O L
D
3 Bedrooms | 2.5 Bathrooms | 2,236 Htd. SqFt | $422,000 - Sold for original asking price!
D
5 Bedrooms | 4.5 Bathrooms | 3,642 Htd. SqFt | $663,500
February 2018 in Review
Greater Bluffton Real Estate Market Overview
9 Fair Hope Lane, Rose Hill
ACTIVE LISTINGS IN GREATER BLUFFTON
209 Whiteoaks Circle, Rose Hill - Brought the buyer!
3 Bedrooms | 2.5 Bathrooms | 2,014 Htd. SqFt | $320,000
3 Bedrooms | 2.5 Bathrooms | 2,200 Htd. SqFt | $370,000
Fabulous two-story home located at the end of a quiet cul-de-sac and overlooking beautiful open parkland. The home’s features include an entry foyer, living room, first-floor master suite, formal dining room, upgraded kitchen with Corian counters and stainless steel appliances, granite and tile in both full bathrooms, a huge screened-in patio, two-car garage with heated and cooled den/office (added using 1/4 of the garage space). Additional touches include storage over the garage and spray foam insulation.
With a new energy efficient HVAC system, this beautiful home boasts hardwood and detailed moldings in the main living area. The eat-in kitchen is updated with 54” maple cabinetry, granite, s/s appliances, a breakfast bar and pantry. The large great room has surround sound wiring, vaulted ceilings and a fireplace. The large master suite with tray ceilings offers a newly renovated bath, stand-alone shower and walk-in closet. There is also a 2nd floor bonus room with built-ins and half bath, a screened porch and patio!
COMMUNITY SPECIALIST Thomas Kersey is your Rose Hill Real Estate Specialist. Contact me for a complimentary home valuation and
discover how I can increase your property’s visibility both nationally and internationally through Engel & Völkers global real estate network, unique digital platforms, social media presence, and local market expertise.
Thomas Kersey, 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 • 843-258-5597 Email • thomas.kersey@evusa.com Website • www.thomaskersey.evusa.com ©2018 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
Hilton Head Is., SC
730 How’s the Bluffton Real Estate Market Doing?
YTD Greater Bluffton Home Sales YTD Through February 28 for Each Year
Year
Number of Homes Sold
Median Price
2013
195
$239,000
2014
178
$240,000
2015
198
$249,000
2016
229
$279,000
2017
237
$298,000
2018
265
$310,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first two months, according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, the first two months of homes sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2006 at 148 sales. As you can see in the chart to the left in first two months of 2018 though, 265 homes were sold, bettering the pre-recession peak by an extraordinary 79%! As the demand for Greater Bluffton continues to outpace supply, the median price has risen 4% from last year and is at an all-time high. With increasing demand and today’s historically low interest rates, it is an exceptional time to invest in real estate in our area. This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2018 through March 7, 2018. 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.