THE STATE
SPECTACULAR HOMES, LOTS AND LAND
of the Spanish Wells 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 Spanish Wells, nine homes closed so far in 2017; four homes closed this time the year before. The first eight months’ total dollar volume of 2017 was $13.644M, an increase compared to $4.630M in 2016. Supply and demand: there are currently nine homes listed for sale with an average of 1.33 homes selling per month over the last six months. That translates into a 6.77-month supply, considered by industry experts to be a buyer’s market. As of September 14, 2017, there were four homes pending. In the lot realm, one lot closed in the first eight months of 2017, the same amount as 2016. There are currently three lots pending in Spanish Wells.
27 Yorkshire Drive, Wexford Plantation
4 Bedrooms | 3.5 Bathrooms | 3,200 Htd. SqFt | Golf View | $649,000
2 Derby Court, Rose Dhu Creek Plantation
4 Bedrooms | 4.5 Bathrooms | 4,781 Htd. SqFt | Landscape View | $1,295,000
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. All MLS Spanish Wells
C
O UN N D T E R R A C T
Historical Median Sales Price Rolling 12-Month Calculation
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 84 Ulmer Road Bed & Breakfast Downtown Bluffton
9 Bedrooms | 10 Bathrooms | 7,260 Htd. SqFt | $1,299,000
5 Old Oak Road Oldfield
4 Bedrooms | 3.5 Bathrooms | 3,608 Htd. SqFt | $849,000
LOCAL RESIDENTIAL LOTS 378 Old Palmetto Bluff Road Palmetto Bluff
Landscape View | 5.75 Acres | $435,000
25 Rawstrom Drive Bluffton - Off Plantation
Wooded View | 2 Acres | $139,000
29 Oxen Lane Rose Hill - Estate Side
Inventory of Homes For Sale
9 7
702 Belfield Drive Ridgeland, Jasper County
625 Fording Island Road Okatie, Beaufort County
30
Wooded View | 241 Acres | $996,625
Wooded View | 160 Acres | $320,000
20
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
Local Postal Customer
$12,000,000
8
40
PHENOMENAL LAND TRACTS
©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.
Total Value of Homes Closed $15,000,000
10
50
Wooded View | 1.67 Acres | $145,000
Telephone: 843-247-0001 Email: nickey.maxey@evusa.com Website: www.nickeymaxey.evusa.com
Number of Closed Home Sales
$9,000,000
6 5
$6,000,000
4 3
12
0
$3,000,000
2
10
On 08/31/16
7
On 08/31/17
1 0
4
9
1st Eight Months of 2016
1st Eight Months of 2017
$4,630,000
0
$13,644,000
1st Eight Months of 2016 1st Eight 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 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.
Spanish Wells Home Listings STATUS
ADDRESS
VIEW
Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold
54 Brams Point Road 16 Widewater Road 30 Widewater Road 72 Brams Point Rd 32 Widewater Road 4 Mcintosh Rd 33 Brams Point Road 33 Widewater Road 6 Mcintosh Road 24 Widewater Road 27 Brams Point Rd 52 Widewater Rd 13 Brams Point Road 64 Brams Point Road 51 Brams Point Road 38 Spanish Pointe Drive 40 Spanish Pointe Drive 15 Brams Point Road 15 Mcintosh Road 13 Widewater Road
Deep Water, Sound Deep Water Deep Water Deep Water, Sound Deep Water, Marsh Golf, Pool Golf, Lagoon/Canal Golf, Lagoon/Canal Golf Deep Water Golf, Lagoon/Canal Deep Water, Pool Golf, Lagoon/Canal Deep Water Deep Water, River Deep Water, Marsh Deep Water, Marsh Golf, Lagoon/Canal Golf, Lagoon/Canal Golf, Landscape
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 4 4 1 6,671 2004 $4,295,000 --4 5 1 7,296 1996 $4,250,000 --5 5 1 6,488 2000 $3,999,999 --4 4 0 4,400 1989 $3,499,000 --5 5 2 7,301 1988 $1,849,000 --5 5 1 4,568 2005 $995,000 --5 5 1 4,661 1989 $949,000 --4 5 0 3,815 1990 $849,000 --3 3 1 3,642 1996 $699,997 --4 4 1 5,992 1999 $2,300,000 --5 4 1 4,120 1991 $929,000 --4 3 1 4,769 1994 $875,000 --3 3 2 5,693 1994 $599,000 --6 6 2 6,888 2016 $4,200,000 $4,200,000 5 5 3 7,682 2005 $2,600,000 $2,600,000 5 4 3 5,281 1997 $1,617,000 $1,617,000 4 4 1 3,632 1992 $845,000 $845,000 4 4 1 5,000 1995 $837,500 $837,500 5 4 1 4,714 1995 $640,000 $640,000 5 4 1 3,472 1994 $630,000 $630,000
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
ADDRESS 738 Spanish Wells Road 48 Widewater Road 10 Orista Place 12 Mcintosh Road 4 Brams Point Road 70 Brams Point Road 1 Brams Point Road
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
Spanish Wells Lot Listings STATUS Active Active Active Active Pending Pending Pending
KEY TRENDS
How Supply and Demand Impacts Real Estate Values
VIEW LIST PRICE CLOSE PRICE Deep Water $1,295,000 --Deep Water, River $937,500 --Golf, Wooded $210,000 --Golf $195,000 --Deep Water, Sound $1,599,000 --Deep Water $1,495,000 --Deep Water $1,200,000 ---
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between June 1, 2017 and August 30, 2017
An App That Moves You
TECH FOCUS
There has not been a 6-month supply of inventory since
With the app, users have 24/7 access to homes for sale in their neighborhood and beyond. Users can search for homes based on their current location or by simply adding an address, city or zip code.
Prices will APPRECIATE AUG
To enjoy the EV Real Estate experience visit http://app.evrealestate.com/ evhiltonheadisland and feel free to share with friends and family. If you have any questions or would like to speak about your real estate goals, feel free to contact us directly or through EV Real Estate.
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
NV
DC
UT CO
MO
KS
AZ
OK NM
WV VA
DC
NC SC
MS TX
CT DE MD
KY
AR
GA
FL
AL
GA
LA FL
AK
Weak
Weak
Stable
Stable
Strong HI
IN
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
TX
For sellers, the app allows you to view your listing exactly how potential buyers see it, in addition to comparable listings in your market. You can share your listing via text or email from the app to increase exposure.
Prices will DEPRECIATE
Prices will only APPRECIATE WITH INFLATION
SELLER’S MARKET
August 2012
The Engel & Völkers Mobile Real Estate Strategy Did you know that the majority of real estate related searches happen on mobile devices? To meet the needs of today’s mobile clientele, Engel & Völkers offers the EV Real Estate app to help you get your listing directly into the hands of potential buyers. The easy-to-use app provides users across North America with access to all homes for sale with the details they need to help make their real estate move. No matter where our clients are, we’ve got them covered!
NEUTRAL MARKET
Less than 6 months
Very Strong
Strong HI
Very Strong
Spanish Wells Home Listings STATUS
ADDRESS
VIEW
Active Active Active Active Active Active Active Active Active Pending Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold
54 Brams Point Road 16 Widewater Road 30 Widewater Road 72 Brams Point Rd 32 Widewater Road 4 Mcintosh Rd 33 Brams Point Road 33 Widewater Road 6 Mcintosh Road 24 Widewater Road 27 Brams Point Rd 52 Widewater Rd 13 Brams Point Road 64 Brams Point Road 51 Brams Point Road 38 Spanish Pointe Drive 40 Spanish Pointe Drive 15 Brams Point Road 15 Mcintosh Road 13 Widewater Road
Deep Water, Sound Deep Water Deep Water Deep Water, Sound Deep Water, Marsh Golf, Pool Golf, Lagoon/Canal Golf, Lagoon/Canal Golf Deep Water Golf, Lagoon/Canal Deep Water, Pool Golf, Lagoon/Canal Deep Water Deep Water, River Deep Water, Marsh Deep Water, Marsh Golf, Lagoon/Canal Golf, Lagoon/Canal Golf, Landscape
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 4 4 1 6,671 2004 $4,295,000 --4 5 1 7,296 1996 $4,250,000 --5 5 1 6,488 2000 $3,999,999 --4 4 0 4,400 1989 $3,499,000 --5 5 2 7,301 1988 $1,849,000 --5 5 1 4,568 2005 $995,000 --5 5 1 4,661 1989 $949,000 --4 5 0 3,815 1990 $849,000 --3 3 1 3,642 1996 $699,997 --4 4 1 5,992 1999 $2,300,000 --5 4 1 4,120 1991 $929,000 --4 3 1 4,769 1994 $875,000 --3 3 2 5,693 1994 $599,000 --6 6 2 6,888 2016 $4,200,000 $4,200,000 5 5 3 7,682 2005 $2,600,000 $2,600,000 5 4 3 5,281 1997 $1,617,000 $1,617,000 4 4 1 3,632 1992 $845,000 $845,000 4 4 1 5,000 1995 $837,500 $837,500 5 4 1 4,714 1995 $640,000 $640,000 5 4 1 3,472 1994 $630,000 $630,000
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
ADDRESS 738 Spanish Wells Road 48 Widewater Road 10 Orista Place 12 Mcintosh Road 4 Brams Point Road 70 Brams Point Road 1 Brams Point Road
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
Spanish Wells Lot Listings STATUS Active Active Active Active Pending Pending Pending
KEY TRENDS
How Supply and Demand Impacts Real Estate Values
VIEW LIST PRICE CLOSE PRICE Deep Water $1,295,000 --Deep Water, River $937,500 --Golf, Wooded $210,000 --Golf $195,000 --Deep Water, Sound $1,599,000 --Deep Water $1,495,000 --Deep Water $1,200,000 ---
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between June 1, 2017 and August 30, 2017
An App That Moves You
TECH FOCUS
There has not been a 6-month supply of inventory since
With the app, users have 24/7 access to homes for sale in their neighborhood and beyond. Users can search for homes based on their current location or by simply adding an address, city or zip code.
Prices will APPRECIATE AUG
To enjoy the EV Real Estate experience visit http://app.evrealestate.com/ evhiltonheadisland and feel free to share with friends and family. If you have any questions or would like to speak about your real estate goals, feel free to contact us directly or through EV Real Estate.
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
NV
DC
UT CO
MO
KS
AZ
OK NM
WV VA
DC
NC SC
MS TX
CT DE MD
KY
AR
GA
FL
AL
GA
LA FL
AK
Weak
Weak
Stable
Stable
Strong HI
IN
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
TX
For sellers, the app allows you to view your listing exactly how potential buyers see it, in addition to comparable listings in your market. You can share your listing via text or email from the app to increase exposure.
Prices will DEPRECIATE
Prices will only APPRECIATE WITH INFLATION
SELLER’S MARKET
August 2012
The Engel & Völkers Mobile Real Estate Strategy Did you know that the majority of real estate related searches happen on mobile devices? To meet the needs of today’s mobile clientele, Engel & Völkers offers the EV Real Estate app to help you get your listing directly into the hands of potential buyers. The easy-to-use app provides users across North America with access to all homes for sale with the details they need to help make their real estate move. No matter where our clients are, we’ve got them covered!
NEUTRAL MARKET
Less than 6 months
Very Strong
Strong HI
Very Strong
THE STATE
SPECTACULAR HOMES, LOTS AND LAND
of the Spanish Wells 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 Spanish Wells, nine homes closed so far in 2017; four homes closed this time the year before. The first eight months’ total dollar volume of 2017 was $13.644M, an increase compared to $4.630M in 2016. Supply and demand: there are currently nine homes listed for sale with an average of 1.33 homes selling per month over the last six months. That translates into a 6.77-month supply, considered by industry experts to be a buyer’s market. As of September 14, 2017, there were four homes pending. In the lot realm, one lot closed in the first eight months of 2017, the same amount as 2016. There are currently three lots pending in Spanish Wells.
27 Yorkshire Drive, Wexford Plantation
4 Bedrooms | 3.5 Bathrooms | 3,200 Htd. SqFt | Golf View | $649,000
2 Derby Court, Rose Dhu Creek Plantation
4 Bedrooms | 4.5 Bathrooms | 4,781 Htd. SqFt | Landscape View | $1,295,000
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. All MLS Spanish Wells
C
O UN N D T E R R A C T
Historical Median Sales Price Rolling 12-Month Calculation
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 84 Ulmer Road Bed & Breakfast Downtown Bluffton
9 Bedrooms | 10 Bathrooms | 7,260 Htd. SqFt | $1,299,000
5 Old Oak Road Oldfield
4 Bedrooms | 3.5 Bathrooms | 3,608 Htd. SqFt | $849,000
LOCAL RESIDENTIAL LOTS 378 Old Palmetto Bluff Road Palmetto Bluff
Landscape View | 5.75 Acres | $435,000
25 Rawstrom Drive Bluffton - Off Plantation
Wooded View | 2 Acres | $139,000
29 Oxen Lane Rose Hill - Estate Side
Inventory of Homes For Sale
9 7
702 Belfield Drive Ridgeland, Jasper County
625 Fording Island Road Okatie, Beaufort County
30
Wooded View | 241 Acres | $996,625
Wooded View | 160 Acres | $320,000
20
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
Local Postal Customer
$12,000,000
8
40
PHENOMENAL LAND TRACTS
©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.
Total Value of Homes Closed $15,000,000
10
50
Wooded View | 1.67 Acres | $145,000
Telephone: 843-247-0001 Email: nickey.maxey@evusa.com Website: www.nickeymaxey.evusa.com
Number of Closed Home Sales
$9,000,000
6 5
$6,000,000
4 3
12
0
$3,000,000
2
10
On 08/31/16
7
On 08/31/17
1 0
4
9
1st Eight Months of 2016
1st Eight Months of 2017
$4,630,000
0
$13,644,000
1st Eight Months of 2016 1st Eight 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 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.