THE STATE of the Rose Hill Real Estate Market
May 2018
KEY METRICS
First Four Months of 2018 in Review
In Rose Hill: Golf and Estate Side, 16 homes closed in the first four months of 2018, which is almost the same amount as the 18 that closed during the same period last year. So far, the total dollar volume of 2018 is $6,436,944, down from $7,578,792 in 2017. Supply and demand: as of May 1st, 2018, there are 25 Rose Hill: Golf and Estate Side homes listed for sale with an average of 4 homes selling per month over the last six months. That translates into a 6.25-month supply, considered by industry experts to be a buyer’s market. There are six homes under contract in Rose Hill: Golf and Estate Side.
16
$331,500
95.67%
104
Total Sales
Median Price
Sale to List Price
Median Days on Market
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
716 How’s the Bluffton Real Estate Market Doing?
YTD Greater Bluffton Home Sales YTD Through April 30 for Each Year
Year
Number of Homes Sold
Median Price
2013
448
$226,000
2014
395
$245,000
2015
474
$255,000
2016
562
$273,000
2017
570
$295,000
2018
654
$302,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first four 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 four months of homes sales on the Mainland, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2006 at 341 sales. As you can see in the chart to the left, in first four months of 2018, 654 homes were sold, almost doubling the pre-recession peak! As the demand for the Mainland continues to outpace supply, the median price has risen 2.4% 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 May 2, 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 TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT Active 5 Ghost Pony Road Wooded 8 8 1 10,500 2002 $1,400,000 --Active 19 Martingale E Lagoon 4 4 3 9,620 1994 $1,350,000 --Active 76 Plantation House Drive Landscape, Pool 5 5 2 4,574 2001 $899,000 --Active 10 Hackamore Drive Landscape 4 3 1 4,288 1985 $898,000 --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 2 Amberly Landscape, Wooded 5 5 1 4,270 1991 $815,000 --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 $703,000 --Active 4 Windlass Court Lagoon 4 3 1 3,013 2017 $695,000 --Active 2 Rosebud Drive Landscape 4 3 1 4,346 1996 $685,000 --Active 38 Fairway Drive Golf 4 3 1 3,200 1990 $629,000 --Active 2 Mirabell Court Landscape 4 3 1 3,580 1996 $595,000 --Active 4 Mirabell Court Lake 4 3 0 3,233 2001 $579,000 --Active 204 Whiteoaks Circle Golf 4 3 1 3,682 2004 $499,000 --Active 1 Greenwood Drive Golf, Lagoon 4 3 1 3,372 1984 $444,900 --Active 234 Club Gate Golf 4 3 1 3,801 2007 $437,000 --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 4 Greenwood Drive Landscape 3 2 0 1,960 1988 $385,000 --Active 13 Pipers Pond Road Lagoon, Landscape 3 2 1 2,007 1991 $359,000 --Active 20 Greenwood Court Golf 3 3 0 1,959 1989 $329,000 --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 $289,000 --Active 36 Whiteoaks Circle Golf, Lagoon 3 2 0 2,240 1993 $285,000 --Pending 53 Whiteoaks Circle Landscape 4 3 1 2,600 1999 $449,000 --Pending 9 Kirk Court Landscape 4 2 1 3,715 1996 $399,000 --Pending 278 Club Gate Landscape 4 3 0 2,171 2017 $354,900 --Pending 23 Sorrelwood Lane Lagoon 3 2 0 1,860 2001 $319,900 --Pending 18 Wood Eden Lane Golf, Lagoon 3 2 0 1,706 1995 $299,999 --Pending 19 Coventry Court Golf, Lagoon 3 2 1 1,860 1989 $295,000 --Sold 12 Greenwood Drive Golf 4 4 1 3,100 2017 $549,900 $525,000 Sold 2 Sweetgum Lane Landscape 4 4 1 2,649 2017 $467,205 $460,000 Sold 39 Whiteoaks Circle Lagoon, Landscape 3 3 0 2,779 1991 $435,500 $424,000 Sold 5 Sorrelwood Lane Wooded 4 4 0 2,398 2017 $435,000 $435,000 Sold 34 Pipers Pond Road Golf 4 3 0 2,300 2004 $379,900 $366,950 Sold 36 Pipers Pond Road Golf 3 2 0 1,937 1992 $359,000 $340,000 Sold 10 Fair Hope Lane Landscape, Wooded 3 2 0 1,690 1996 $329,000 $315,000 Sold 9 Fair Hope Lane Landscape, Wooded 3 2 1 2,014 1996 $320,000 $310,000 Sold 4 Crabtree Lane Landscape, Wooded 3 2 0 1,724 1995 $319,500 $298,000 Sold 18 Coventry Court Lagoon 3 2 0 1,874 1989 $299,000 $290,000 Sold 244 Whiteoaks Circle Golf 3 2 2 1,870 1986 $285,000 $272,000 Sold 4 Wood Eden Lane Lagoon 2 2 0 1,482 1983 $239,000 $235,000
STATUS
ADDRESS
VIEW
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2018 and April 30, 2018
Giving You The EDGE™- Smart Marketing, Extensive Exposure and Tailored Strategies to Sell Your Home Global reach with boutique style is what you can expect when working with Engel & Völkers here and around the world - and we’ve sharpened our EDGE. Committed to delivering the highest level of customer service, we provide Extensive Domestic & Global Exposure (EDGE) designed to maximize exposure of your listing to qualified, targeted buyers worldwide with the utmost care and competency. • Highly trusted strategic online and mobile marketing partners with a combined 500 million website and mobile views per month • A global network spanning more than 30 countries with 9,000 Advisors in 750 shops around the world • White-glove professionalism and local market expertise of your dedicated Advisor Let us provide the EDGE you need to sell your home. Contact Thomas Kersey for a complimentary, no-obligation home valuation.
How Much Has Your Home Value Increased Over the Last Year?
KEY TRENDS
Source: Keeping Current Matters, May 2018
9.3%
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.7% year-over-year.
8.5%
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
7% 5.4%
The chart to the left shows the four price ranges from the report, as well as each one’s year-over-year growth from February 2017 to February 2018 (the latest data available). It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor that determines how much your home has appreciated over the course of the last year. Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.
LOW PRICE
KEY TRENDS
LOW TO MIDDLE PRICE
MIDDLE TO MODERATE PRICE
BOTTOM LINE
HIGH PRICE
If you are planning to list your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range.
30-Year Fixed-Rate Mortgage Rates Source: Freddie Mac, May 2018
4.5
4.9 4.6
2018 Q4
2018 Q3
2018 Q2
FOOD FOR THOUGHT buyers thought they could wait forever because rates were going to stay low forever. They’re starting to realize that if they’re going to buy, they should probably buy now. Rick Palacios Jr., DIRECTOR OF RESEARCH John Burns Real Estate Consulting
2017 - Today actual interest rates
Where they’re going in 2018
N M E A W R T K O E T
Our Portfolio of Fine Homes in Rose Hill
Classic Regal Southern Estate With this truly exquisite Rose Hill retreat, “perfect” comes to mind as does “impeccable design”. Its truly stunning curb appeal, achieved by unique neo-classical architecture and a three-and-a-half acre lushly landscaped domain with wraparound lagoon, certainly sets the stage for an exquisite interior of superior quality. Step inside and be transported to another time and place all reminiscent of a bygone era of Southern sophistication. The estate features an open floor plan, massive and intricate millwork, Viking stainless steel appliances, hardwood floors and high ceilings. The master suite and bathroom boasts 1,050 square feet of luxury. An equestrian dream, this property has been approved for stable and horses and riding trails abound. 19 Martingale East, Rose Hill Plantation
4 Bedrooms | 4 Full & 3 Half Bathrooms | 9,620 Htd. SqFt • 3.2 Acres | $1,350,000
N M E A W R T K O E T
True Lowcountry Custom Home With a brick rocking chair front porch and sitting on 1.5 acres, this home boasts extensive millwork and architectural features throughout. It offers a great room with a coffered ceiling, a wood carved fireplace, a family room with bayed window, a large formal dining room, and a gourmet kitchen with custom cabinetry, gas cook top, granite counters, stainless steel appliances, and a double pantry with a huge windowed area. The master suite features a spa-like bath and large, custom walk-in closet. The second floor has two bedrooms with bathrooms, a loft area, and a huge bonus room. Additional touches include an oversized two-car garage and a huge laundry room. Entertain on the brick patio! 2 Rosebud Drive, Rose Hill Plantation 5 Bedrooms | 3.5 Bathrooms | 4,346 Htd. SqFt $685,000
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.
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