THE STATE of the Rose Hill Real Estate Market
August 2018
KEY METRICS
First Seven Months of 2018 in Review
In Rose Hill: Golf and Estate Side, 25 homes closed in the first seven months of 2018, compared to 34 homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $10,034,950, down compared to $13,453,800 during the same period last year. Supply and demand: as of August 1st, 2018, there are 36 Rose Hill homes listed for sale with an average of 3.6 homes selling per month over the last seven months. That translates into a 10-month supply, considered by industry experts to be a strong buyer’s market. There are five homes under contract in Rose Hill and there are currently 22 lots for sale. 11 lots have sold in the last seven months and two are under contract.
25
$340,000
95.74%
113
Total Sales
Median Price
Sale to List Price
Median Days on Market
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
690 How’s the Bluffton Real Estate Market Doing?
YTD Greater Bluffton Home Sales YTD Through July 31 for Each Year
Year
Number of Homes Sold
Median Price
2013
896
$229,000
2014
817
$245,000
2015
992
$258,000
2016
1,142
$277,000
2017
1,201
$288,000
2018
1,345
$299,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first seven 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 seven months sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2005 at 652 sales. As you can see in the chart to the left, in the first seven months of 2018 1,345 homes were sold, more than doubling the pre-recession peak. As the demand for Greater Bluffton continues to outpace supply, the median price has risen 3.8% 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 August 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 TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT Active 5 Ghost Pony Road Wooded 8 9 1 10,500 2002 $1,400,000 --Active 19 Martingale E Lagoon 4 7 3 9,620 1994 $1,350,000 --Active 76 Plantation House Drive Landscape, Pool 5 7 2 4,574 2001 $899,000 --Active 10 Hackamore Drive Landscape 4 4 1 4,288 1985 $898,000 --Active 20 Martingale E Wooded 4 6 3 5,486 1992 $895,000 --Active 6 Longview Lane Deep Water, Wooded 4 4 1 3,840 2000 $799,900 --Active 2 Amberly Landscape, Wooded 5 6 1 4,270 1991 $755,000 --Active 51 Spartina Crescent Landscape 6 6 1 4,000 2002 $739,000 --Active 9 Kirk Court Landscape, Wooded 4 5 1 3,715 1996 $699,900 --Active 197 Rose Hill Way Lagoon 4 4 1 3,737 2005 $699,000 --Active 9 Belfair Point Drive Marsh 4 4 1 3,514 1999 $694,900 --Active 2 Rosebud Drive Landscape 4 4 1 4,346 1996 $675,000 --Active 16 Rosebud Drive Lagoon, Wooded 4 4 1 3,383 2001 $659,000 --Active 38 Fairway Drive Golf 4 4 1 3,200 1990 $614,900 --Active 2 Mirabell Court Landscape 4 4 1 3,580 1996 $585,000 --Active 4 Mirabell Court Lake 4 3 0 3,233 2001 $579,000 --Active 13 Little Johns Retreat Golf, Lagoon 4 5 1 4,143 2006 $564,900 --Active 34 Whiteoaks Circle Golf, Lagoon 3 4 1 2,682 2000 $489,000 --Active 234 Club Gate Golf 4 4 1 3,801 2007 $429,000 --Active 1 Sweetgum Lane Wooded 3 3 1 2,800 1999 $420,000 --Active 282 Club Gate Landscape 3 2 0 1,900 2018 $399,000 --Active 276 Club Gate Wooded 3 3 1 2,694 2016 $396,999 --Active 4 Greenwood Drive Landscape 3 2 0 1,960 1988 $385,000 --Active 69 Whiteoaks Circle Wooded 3 3 1 2,312 1988 $375,000 --Active 3 Whiteoaks Circle Golf 3 3 1 2,128 1984 $369,000 --Active 48 Pipers Pond Road Golf 4 3 0 2,226 2001 $359,000 --Active 13 Pipers Pond Road Lagoon, Landscape 3 3 1 2,007 1991 $359,000 --Active 6 Sorrelwood Lane Golf 3 2 0 2,178 2000 $354,900 --Active 177 Whiteoaks Circle Wooded 3 2 0 2,200 2000 $353,000 --Active 296 Club Gate Wooded 4 3 0 1,851 2018 $349,900 --Active 2 Sorrelwood Lane Wooded 4 3 0 1,851 2018 $345,165 --Active 20 Coventry Court Golf, Lagoon 3 2 0 1,970 1993 $334,900 --Active 20 Greenwood Court Golf 3 3 0 1,959 1989 $329,000 --Active 34 Sorrelwood Lane Landscape 3 2 0 1,676 2002 $289,900 --Active 1 Peppertree Lane Landscape 3 2 0 1,345 1995 $239,900 --Pending 7 Kirk Court Landscape, Wooded 4 4 1 3,282 2002 $697,000 --Pending 190 Whiteoaks Circle Golf, Lagoon 3 4 1 2,500 2018 $529,900 --Pending 192 Whiteoaks Circle Golf, Lagoon 3 3 1 2,220 2018 $494,900 --Pending 227 Club Gate Landscape 3 3 1 2,148 2008 $359,000 --Pending 2 Pipers Pond Road Golf, Lagoon 3 2 0 1,619 1998 $289,000 --Sold 14 Ghost Pony Road Landscape 4 5 2 4,569 1995 $795,000 $775,000 Sold 204 Whiteoaks Circle Golf 4 4 1 3,682 2004 $499,000 $480,000 Sold 53 Whiteoaks Circle Landscape 4 4 1 2,600 1999 $449,000 $424,000 Sold 1 Greenwood Drive Golf, Lagoon 4 4 1 3,372 1984 $444,900 $425,000 Sold 278 Club Gate Landscape 4 3 0 2,171 2017 $354,900 $340,000 Sold 23 Sorrelwood Lane Lagoon 3 2 0 1,860 2001 $319,900 $312,000 Sold 36 Whiteoaks Circle Golf, Lagoon 3 2 0 2,240 1993 $285,000 $292,000
STATUS
ADDRESS
VIEW
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between April 1, 2018 and July 31, 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.
The Number One Reason to Put Your House on the Market Today!
Source: Keeping Current Matters, August 2018
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true. The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In fact, the inventory of homes for sale had fallen year-over-year for 36 consecutive months before posting a modest 0.5% gain last month and has had an upward impact on home prices.
KEY TRENDS
NAR’s Chief Economist Lawrence Yun had this to say, “It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels. Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.” The few houses that are on the market are selling fast! According to NAR’s Realtors Confidence Index, properties were typically on the market for 26 days. Bottom Line - If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market!
KEY TRENDS
Americans Rank Real Estate as the Best Investment for Five Years Running!
Source: Gallup via Keeping Current Matters, August 2018
35%
34%
34% Real Estate
30% 26% STOCKS
25% 20%
19% 17%
17% GOLD
15%
26% STOCK MARKET 17% GOLD
15% SAVINGS 14%
10%
34% REAL ESTATE
2011
2012
2013
2014
2015
2016
2017
2018
15% SAVINGS ACCOUNT
Real estate has come a long way since 2011, when 34% of Americans favored gold as the best investment. Of the four listed above real estate is the only investment you can live in. Generations also agree that real estate is the best investment! Millenials - 29% | Generation X - 37% | Baby Boomers - 34%
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
2 Rosebud Drive, Rose Hill Plantation
4 Bedrooms |3.5 Bathrooms | 4,346 Htd. SqFt | $675,000
COMMUNITY SPECIALIST
15 Ghost Pony Road, Rose Hill Plantation
Land/Lot | Wooded | 1.69 Acres SqFt | $152,000
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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