THE STATE of the Rose Hill Real Estate Market
October 2018
KEY METRICS
First Nine Months of 2018 in Review
In Rose Hill: Golf and Estate Side, 29 homes closed in the first nine months of 2018, compared to 41 homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $11,902,850, down compared to $16,303,300 during the same period last year. Supply and demand: as of October 1st, 2018, there are 40 Rose Hill homes listed for sale with an average of 3.2 homes selling per month over the last nine months. That translates into a 12.5-month supply, considered by industry experts to be a strong buyer’s market. There are six homes under contract in Rose Hill and there are currently 21 lots for sale. 13 lots have sold in the last nine months and one is under contract.
29
$340,000
96.19%
113
Total Sales
Median Price
Sale to List Price
Median Days on Market
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
706 How’s the Bluffton Real Estate Market Doing?
YTD Greater Bluffton Home Sales YTD Through September 30 for Each Year
Year
Number of Homes Sold
Median Price
2013
1,185
$226,000
2014
1,080
$245,000
2015
1,321
$258,000
2016
1,539
$280,000
2017
1,563
$290,000
2018
1,743
$298,000
In 2018 the Greater Bluffton housing market continues to be on fire, again setting the record for the all-time best first three quarters, according to statistics from the Hilton Head Island-Bluffton Area Multiple Listing Service. In the boom years prior to The Great Recession, the first three quarters sales in Greater Bluffton, which includes all of southern Beaufort County except Hilton Head and Daufuskie Islands, peaked in 2005 at 874 sales. As you can see in the chart to the left, in the first three quarters of 2018 1,743 homes were sold, almost doubling the pre-recession peak. As the demand for Greater Bluffton continues to outpace supply, the median price has risen 2.8% from last year to an all-time high. With increasing demand for Greater Bluffton real estate 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 October 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 31 Rose Hill Drive Deep Water 5 6 1 5,900 2004 $1,599,000 --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 4 Queen Crescent Lagoon, Landscape 4 5 0 4,500 1994 $1,175,000 --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 76 Plantation House Drive Landscape, Pool 5 7 2 4,574 2001 $859,000 --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 $679,000 --Active 9 Belfair Point Drive Marsh 4 4 1 3,514 1999 $679,000 --Active 8 Kirk Court Wooded 4 3 1 3,870 1989 $650,000 --Active 2 Glenn Road Wooded 4 5 1 2,721 1983 $630,000 --Active 13 Greenwood Court Golf 4 4 0 3,572 2018 $599,000 --Active 2 Mirabell Court Landscape 4 4 1 3,580 1996 $570,000 --Active 6 Amberly Landscape 4 3 0 3,772 1994 $569,000 --Active 4 Mirabell Court Lake 4 3 0 3,233 2001 $559,000 --Active 43 Fairway Drive Golf 3 3 0 2,300 2018 $549,900 --Active 13 Little Johns Retreat Golf, Lagoon 4 5 1 4,143 2006 $529,900 --Active 187 Whiteoaks Circle Wooded 4 4 1 2,760 2014 $518,900 --Active 34 Whiteoaks Circle Golf, Lagoon 4 4 1 2,682 2000 $485,000 --Active 29 Whiteoaks Cir Golf, Landscape 4 4 1 2,971 1998 $439,900 --Active 167 Whiteoaks Circle Landscape, Wooded 3 3 1 2,660 1999 $439,000 --Active 234 Club Gate Golf 4 4 1 3,801 2007 $424,900 --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 10 Coventry Court Golf, Wooded 3 4 1 2,493 2001 $389,000 --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 6 Sorrelwood Lane Golf 3 2 0 2,178 2000 $349,900 --Active 296 Club Gate Wooded 4 3 0 1,851 2018 $349,900 --Active 13 Pipers Pond Road Lagoon, Landscape 3 3 1 2,007 1991 $349,900 --Active 193 Whiteoaks Circle Wooded 3 3 1 2,013 1994 $349,900 --Active 177 Whiteoaks Circle Wooded 3 2 0 2,200 2000 $349,000 --Active 2 Sorrelwood Lane Wooded 4 3 0 1,851 2018 $334,900 --Active 20 Coventry Court Golf, Lagoon 3 2 0 1,970 1993 $333,900 --Active 2 Wood Eden Court Golf, Lagoon 3 2 0 2,308 1984 $319,900 --$229,900 --Active 1 Peppertree Lane Landscape 3 2 0 1,345 1995 Pending 192 Whiteoaks Circle Golf, Lagoon 3 3 1 2,220 2018 $494,900 --Pending 19 Fairway Drive Golf 3 2 0 2,257 1997 $399,000 --Pending 276 Club Gate Wooded 3 3 1 2,694 2016 $396,999 --Pending 48 Pipers Pond Road Golf 4 3 0 2,226 2001 $359,000 --Pending 3 Whiteoaks Circle Golf 3 3 1 2,128 1984 $359,000 --Pending 11 Coventry Court Golf 3 3 1 2,470 1992 $335,000 --Sold 14 Ghost Pony Road Landscape 4 5 2 4,569 1995 $795,000 $775,000 Sold 7 Kirk Court Landscape, Wooded 4 4 1 3,282 2002 $697,000 $697,000 Sold 190 Whiteoaks Circle Golf, Lagoon 3 4 1 2,500 2018 $529,900 $529,900 Sold 227 Club Gate Landscape 3 3 1 2,148 2008 $359,000 $359,000 Sold 2 Pipers Pond Road Golf, Lagoon 3 2 0 1,619 1998 $289,000 $282,000 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 July 1, 2018 and September 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.
KEY TRENDS
Average Home Equity Gained Year-Over-Year Source: Keeping Current Matters, October 2018
WA $44K
ND $12K
MT $20K OR $16K
ID $25K
CA $51K
MN $14K
WI $10K
SD WY $3K
NV $31K
ME
VT
UT $28K
AZ $15K
IA $5K
NE $7K CO $22K
OK $2K
$8K
VA $6K
WV KY $8K
$12K
CT ($4K) NJ ($14K) DE ($9K) MD ($9K) DC ($3K)
NC $9K
TN SC $9K
AR $5K MS
TX $9K
RI ($19K) PA $6K OH $10K
IN
MO $10K
KS $13K
NM $8K
MI $11K
IL $6K
NH ($10K) MA ($24K)
NY $9K
AL $5K
GA $12K
LA $3K FL $13K
AK $2K
UNITED STATES $16,300
Insufficient Data < $3K $4K to $7K $8K to $14K
HI $33K
> $15K
Did you know that home equity is increasing across the United States by an average of $16,300? This means that more Americans are able to use that equity when they sell their current home to buy their dream home or use it to invest in a vacation property!
KEY TRENDS
Four Reasons to Sell Your Home This Fall Source: Keeping Current Matters, October 2018
#1 - BUYER DEMAND IS STILL 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 29 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 5.1% 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 - ITâ&#x20AC;&#x2122;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!
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
Beautifully wooded equestrian lot on the Estate Side of Rose Hill Plantation surrounded by common area land and equestrian trails. This beautiful 1.69 acre lot is located just down the street from the Rose Hill Equestrian Center and Polo Grounds. Beautiful mature trees and total privacy make this an ideal lot for building your dream home. Rose Hill does not have a time limit on construction for this lot so buy it now, while the market is heating up, and hold on to it until you are ready to build. 15 Ghost Pony Road, Rose Hill Plantation Land/Lot | Wooded | 1.69 Acres | $152,000 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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