THE STATE of the The Haven Real Estate Market
N M E A W R T K O E T
N M E A W R T K O E T
Our Portfolio of Fine Homes in The Haven
May 2018
KEY METRICS
34 Grovesview Avenue, The Haven
In The Haven at New Riverside, eight homes closed in the first four months of 2018, compared to five which closed during the same period in 2017. The total dollar volume so far in 2018 is $2,220,000, compared to $1,614,400 in 2017, which includes new construction. Supply and demand: as of May 1st, 2018, there are 12 Haven homes listed for sale with an average of 2.5 homes selling per month over the last six months. That translates into a 2.75-month supply, considered by industry experts to be a strong seller’s market! There are 18 homes under contract in the Haven.
20 Whitepoint Gardens Way, The Haven
3 Bedrooms | 2.5 Bathrooms | 2,752 Htd. SqFt | $449,500
O UN N D T E R R A C T
3 Bedrooms | 3 Bathrooms | 2,741 Htd. SqFt | $376,900
First Four Months of 2018 in Review
$388,500
97.45%
112
Total Sales
Median Price
Sale to List Price
Median Days on Market
C
8
C U O N N D T E R R A C T
C U O N N D T E R R A C T
11 Rolling River Drive, The Haven
2 Bedrooms | 2 Bathrooms | 2,288 Htd. SqFt | $349,000
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
O UN N D T E R R A C T
4 Evening Tide Way, The Haven
C
50 Blackstone River Road, The Haven
2 Bedrooms | 2.5 Bathrooms | 1,913 Htd. SqFt | $334,900 2 Bedrooms | 2 Bathrooms | 1,913 Htd. SqFt | $322,500
716 How’s the Bluffton Real Estate Market Doing?
YTD Greater Bluffton Home Sales YTD Through April 30 for Each Year
10 Blackstone River Road, The Haven
2 Bedrooms | 2 Bathrooms | 1,886 Htd. SqFt | $345,000
COMMUNITY SPECIALIST
57 Grovesview Avenue, The Haven
2 Bedrooms | 2 Bathrooms | 1,755 Htd. SqFt | $324,900
26 Abbotsbury Place, The Haven
2 Bedrooms | 2 Bathrooms | 1,904 Htd. SqFt | $315,000
Cheryl Kenton is your Haven Real Estate Specialist. Rated the #1 Listing and Selling Agent in The Haven, not only am I your specialist, I’m your neighbor! 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. It is my mission to put The Haven on the map!
Cheryl Kenton, 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 • 843-540-4572 Email • cheryl.kenton@evusa.com Website • www.cherylkenton.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
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.
The Haven Home Listings STATUS Active Active Active Active Active Active
TOTAL APPROX. YEAR ADDRESS VIEW FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT --29 Weeping Willow Drive Lagoon, Wooded 3 2 0 2,036 2016 $449,900 --20 Whitepoint Gardens Way Lagoon, Wooded 3 2 1 2,752 2008 $449,500 --10 Basswood Court Landscape, Wooded 3 2 0 2,466 2008 $394,900 --9 Abbotsbury Place Wooded 3 2 0 2,464 2007 $389,900 --20 Rolling River Drive Lagoon 3 3 1 2,858 2008 $385,000 --34 Groveview Avenue Wooded 3 3 0 1,886 2013 $376,900
Active 7 Tree Rose Place Active 24 Groveview Avenue Active 62 Evening Tide Way Active 3 Groveview Avenue Active 50 Blackstone River Road Active 4 Evening Tide Way Pending 14 Waxwing Court Pending 26 Heathrow Avenue Pending 28 Cedars Edge Court Pending 10 Ocoee Drive Pending 15 Sweet Pea Place Pending 77 Heathrow Avenue Pending 30 Heathrow Avenue Pending 81 Groveview Avenue Pending 11 Rolling River Drive Pending 10 Blackstone River Road Pending 19 Heathrow Avenue Pending 8 Dawn Redwood Court Pending 14 Sweet Pea Place Pending 2 Blackstone River Road Pending 57 Groveview Avenue Pending 21 Heathrow Avenue Pending 78 Heathrow Avenue Pending 26 Abbotsbury Place Pending 41 Gatewood Lane Sold 12 Sweet Pea Place Sold 17 Heathrow Avenue Sold 7 Sweet Pea Place Sold 23 Heathrow Avenue Sold 33 Gatewood Lane Sold 10 Groveview Avenue Sold 75 Heathrow Avenue Sold 79 Heathrow Avenue Sold 74 Heathrow Avenue
How Much Has Your Home Value Increased Over the Last Year? Source: Keeping Current Matters, May 2018
9.3%
3
3
0
2,741
2010
$371,000
Wooded Wooded Wooded
2 3 3
2 3 3
0 0 0
2,136 2,504 2,487
2012 2011 2012
$365,000 $360,000 $354,500
Lagoon Landscape, Wooded
2 2
2 2
0 0
1,913 1,913
2007 2008
$334,900 $322,500
Wooded Lagoon
3 3
3 3
1 1
3,269 3,469
2015 2018
$489,900 $414,915
Lagoon, Wooded Landscape
3 2
3 2
0 1
2,676 2,562
2015 2018
$409,000 $384,165
Landscape
2
2
0
2,736
2018
$377,865
---
Landscape
2
2
0
1,961
2018
$368,490
Lagoon Wooded
2 2
2 2
1 0
2,772 2,053
2018 2014
$368,115 $365,990
-----
Lagoon, Wooded Lagoon Landscape Landscape Wooded Lagoon, Landscape Landscape Landscape Wooded Lake, Wooded Landscape Lagoon Landscape Lagoon Landscape Wooded Wooded Lagoon Landscape Wooded
2 2 2 2 2 3 2 2 2 2 2 3 3 3 3 2 3 2 3 2
2 2 2 2 2 2 2 2 2 2 2 3 3 3 3 2 2 2 3 2
0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 0 1
2,288 1,886 2,536 1,961 1,755 2,098 1,755 1,876 1,776 1,904 1,776 3,449 3,449 3,469 3,449 2,536 2,449 2,772 2,677 2,562
2009 2008 2018 2013 2018 2008 2014 2018 2018 2007 2018 2017 2017 2017 2018 2016 2012 2018 2017 2017
$349,000 $345,000 $343,890 $339,900 $338,615 $334,900 $324,900 $321,465 $315,415 $315,000 $278,240 $474,190 $458,915 $445,565 $436,040 $425,000 $412,000 $411,090 $409,515 $408,615
$474,190 $458,915 $445,565 $436,040 $417,500 $398,000 $411,090 $409,515 $408,615
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%
-----
Lagoon
KEY TRENDS
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
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.
-------------------------
Sold Sold
10 Sweet Pea Place 5 Gatewood Lane
Lagoon Lagoon
2 3
2 3
1 0
2,736 2,473
2017 2015
$400,265 $394,000
$400,265 $386,680
Sold
20 Heathrow Avenue
Lagoon
2
2
0
2,173
2017
$385,919
$385,919
Sold Sold
8 Sweet Pea Place
Lagoon
2
2
0
1,876
2017
$361,890
$361,890
Sold
6 Waxwing Court 4 Baybridge Court
Wooded Lagoon, Wooded
3 3
2 2
0 0
2,050 2,017
2016 2008
$339,000 $324,000
$335,000 $314,000
Sold
81 Heathrow Avenue
Lagoon
2
2
0
1,859
2018
$311,890
$311,890
Sold Sold
22 Heathrow Avenue
Lagoon
2
2
0
1,755
2018
$308,365
$308,365
54 Ocoee Drive
Lagoon
3
2
0
1,656
2015
$289,900
$282,500
KEY TRENDS
30-Year Fixed-Rate Mortgage Rates Source: Freddie Mac, May 2018
4.5
4.9 4.6
2018 Q4
2018 Q3
2018 Q2
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2018 and April 30, 2018
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
The Haven Home Listings STATUS Active Active Active Active Active Active
TOTAL APPROX. YEAR ADDRESS VIEW FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT --29 Weeping Willow Drive Lagoon, Wooded 3 2 0 2,036 2016 $449,900 --20 Whitepoint Gardens Way Lagoon, Wooded 3 2 1 2,752 2008 $449,500 --10 Basswood Court Landscape, Wooded 3 2 0 2,466 2008 $394,900 --9 Abbotsbury Place Wooded 3 2 0 2,464 2007 $389,900 --20 Rolling River Drive Lagoon 3 3 1 2,858 2008 $385,000 --34 Groveview Avenue Wooded 3 3 0 1,886 2013 $376,900
Active 7 Tree Rose Place Active 24 Groveview Avenue Active 62 Evening Tide Way Active 3 Groveview Avenue Active 50 Blackstone River Road Active 4 Evening Tide Way Pending 14 Waxwing Court Pending 26 Heathrow Avenue Pending 28 Cedars Edge Court Pending 10 Ocoee Drive Pending 15 Sweet Pea Place Pending 77 Heathrow Avenue Pending 30 Heathrow Avenue Pending 81 Groveview Avenue Pending 11 Rolling River Drive Pending 10 Blackstone River Road Pending 19 Heathrow Avenue Pending 8 Dawn Redwood Court Pending 14 Sweet Pea Place Pending 2 Blackstone River Road Pending 57 Groveview Avenue Pending 21 Heathrow Avenue Pending 78 Heathrow Avenue Pending 26 Abbotsbury Place Pending 41 Gatewood Lane Sold 12 Sweet Pea Place Sold 17 Heathrow Avenue Sold 7 Sweet Pea Place Sold 23 Heathrow Avenue Sold 33 Gatewood Lane Sold 10 Groveview Avenue Sold 75 Heathrow Avenue Sold 79 Heathrow Avenue Sold 74 Heathrow Avenue
How Much Has Your Home Value Increased Over the Last Year? Source: Keeping Current Matters, May 2018
9.3%
3
3
0
2,741
2010
$371,000
Wooded Wooded Wooded
2 3 3
2 3 3
0 0 0
2,136 2,504 2,487
2012 2011 2012
$365,000 $360,000 $354,500
Lagoon Landscape, Wooded
2 2
2 2
0 0
1,913 1,913
2007 2008
$334,900 $322,500
Wooded Lagoon
3 3
3 3
1 1
3,269 3,469
2015 2018
$489,900 $414,915
Lagoon, Wooded Landscape
3 2
3 2
0 1
2,676 2,562
2015 2018
$409,000 $384,165
Landscape
2
2
0
2,736
2018
$377,865
---
Landscape
2
2
0
1,961
2018
$368,490
Lagoon Wooded
2 2
2 2
1 0
2,772 2,053
2018 2014
$368,115 $365,990
-----
Lagoon, Wooded Lagoon Landscape Landscape Wooded Lagoon, Landscape Landscape Landscape Wooded Lake, Wooded Landscape Lagoon Landscape Lagoon Landscape Wooded Wooded Lagoon Landscape Wooded
2 2 2 2 2 3 2 2 2 2 2 3 3 3 3 2 3 2 3 2
2 2 2 2 2 2 2 2 2 2 2 3 3 3 3 2 2 2 3 2
0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 0 1
2,288 1,886 2,536 1,961 1,755 2,098 1,755 1,876 1,776 1,904 1,776 3,449 3,449 3,469 3,449 2,536 2,449 2,772 2,677 2,562
2009 2008 2018 2013 2018 2008 2014 2018 2018 2007 2018 2017 2017 2017 2018 2016 2012 2018 2017 2017
$349,000 $345,000 $343,890 $339,900 $338,615 $334,900 $324,900 $321,465 $315,415 $315,000 $278,240 $474,190 $458,915 $445,565 $436,040 $425,000 $412,000 $411,090 $409,515 $408,615
$474,190 $458,915 $445,565 $436,040 $417,500 $398,000 $411,090 $409,515 $408,615
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%
-----
Lagoon
KEY TRENDS
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
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.
-------------------------
Sold Sold
10 Sweet Pea Place 5 Gatewood Lane
Lagoon Lagoon
2 3
2 3
1 0
2,736 2,473
2017 2015
$400,265 $394,000
$400,265 $386,680
Sold
20 Heathrow Avenue
Lagoon
2
2
0
2,173
2017
$385,919
$385,919
Sold Sold
8 Sweet Pea Place
Lagoon
2
2
0
1,876
2017
$361,890
$361,890
Sold
6 Waxwing Court 4 Baybridge Court
Wooded Lagoon, Wooded
3 3
2 2
0 0
2,050 2,017
2016 2008
$339,000 $324,000
$335,000 $314,000
Sold
81 Heathrow Avenue
Lagoon
2
2
0
1,859
2018
$311,890
$311,890
Sold Sold
22 Heathrow Avenue
Lagoon
2
2
0
1,755
2018
$308,365
$308,365
54 Ocoee Drive
Lagoon
3
2
0
1,656
2015
$289,900
$282,500
KEY TRENDS
30-Year Fixed-Rate Mortgage Rates Source: Freddie Mac, May 2018
4.5
4.9 4.6
2018 Q4
2018 Q3
2018 Q2
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between February 1, 2018 and April 30, 2018
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
THE STATE of the The Haven Real Estate Market
N M E A W R T K O E T
N M E A W R T K O E T
Our Portfolio of Fine Homes in The Haven
May 2018
KEY METRICS
34 Grovesview Avenue, The Haven
In The Haven at New Riverside, eight homes closed in the first four months of 2018, compared to five which closed during the same period in 2017. The total dollar volume so far in 2018 is $2,220,000, compared to $1,614,400 in 2017, which includes new construction. Supply and demand: as of May 1st, 2018, there are 12 Haven homes listed for sale with an average of 2.5 homes selling per month over the last six months. That translates into a 2.75-month supply, considered by industry experts to be a strong seller’s market! There are 18 homes under contract in the Haven.
20 Whitepoint Gardens Way, The Haven
3 Bedrooms | 2.5 Bathrooms | 2,752 Htd. SqFt | $449,500
O UN N D T E R R A C T
3 Bedrooms | 3 Bathrooms | 2,741 Htd. SqFt | $376,900
First Four Months of 2018 in Review
$388,500
97.45%
112
Total Sales
Median Price
Sale to List Price
Median Days on Market
C
8
C U O N N D T E R R A C T
C U O N N D T E R R A C T
11 Rolling River Drive, The Haven
2 Bedrooms | 2 Bathrooms | 2,288 Htd. SqFt | $349,000
Greater Bluffton Real Estate Market Overview ACTIVE LISTINGS IN GREATER BLUFFTON
O UN N D T E R R A C T
4 Evening Tide Way, The Haven
C
50 Blackstone River Road, The Haven
2 Bedrooms | 2.5 Bathrooms | 1,913 Htd. SqFt | $334,900 2 Bedrooms | 2 Bathrooms | 1,913 Htd. SqFt | $322,500
716 How’s the Bluffton Real Estate Market Doing?
YTD Greater Bluffton Home Sales YTD Through April 30 for Each Year
10 Blackstone River Road, The Haven
2 Bedrooms | 2 Bathrooms | 1,886 Htd. SqFt | $345,000
COMMUNITY SPECIALIST
57 Grovesview Avenue, The Haven
2 Bedrooms | 2 Bathrooms | 1,755 Htd. SqFt | $324,900
26 Abbotsbury Place, The Haven
2 Bedrooms | 2 Bathrooms | 1,904 Htd. SqFt | $315,000
Cheryl Kenton is your Haven Real Estate Specialist. Rated the #1 Listing and Selling Agent in The Haven, not only am I your specialist, I’m your neighbor! 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. It is my mission to put The Haven on the map!
Cheryl Kenton, 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 • 843-540-4572 Email • cheryl.kenton@evusa.com Website • www.cherylkenton.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
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.