THE STATE
Our international reach finds home buyers.
of the Wexford Real Estate Market 5
February 2018
Continents
33
KEY METRICS
Countries
750
+
January 2018 in Review
Shops
In Wexford Plantation, three homes closed in the first month of 2018, compared to just one home closing the same time last year. January’s 2018 total dollar volume was $2.805K, up from $1.825K in January 2017. Supply and demand: as of February 5th, 2018, there are 35 Wexford homes listed for sale with an average of 1.83 homes selling per month over the last six months. That translates into a 19.13-month supply, considered by industry experts to be a strong buyer’s market. There are two homes under contract in Wexford.
9,000+
Advisors
International buyers have invested more than $92 billion in U.S. homes (Source: 2014 Profile of International Home Buying Activity). Today’s real estate professionals need to demonstrate international expertise and have the proven ability to promote their properties to buyers worldwide. Engel & Völkers is a revolutionary global brand with more than 750 brokerages and 9,000 advisors in highly desirable markets including the United States, Canada and Europe. A global real estate network with buyer referrals from national and international markets such as Atlanta, New York Metro Area, Canada and Europe.
3
$795,000
95.93%
331
Total Sales
Median Price
Sale to List Price
Median Days on Market
Industry-leading technology tools that reach home buyers and sellers online where 92% of people begin their home search. Source: National Association of Realtors
At Engel & Völkers Hilton Head Island - Bluffton, we are committed to bringing that same revolutionary approach to the Wexford real estate market. Our goal is to provide unrivaled service in the residential real estate market as we bring qualified buyers from around the world to unique properties throughout the Lowcountry. Only the most dedicated and professional advisors, with an exclusive clientele built from years of experience, are a part of our brand. By combining the local market expertise of our seasoned team with an exceptional global network, we are able to find buyers for our deserving clients.
Hilton Head Island Real Estate Market Overview ACTIVE LISTINGS ON HILTON HEAD ISLAND
We believe that discretion is the cornerstone of any trustworthy relationship and that protecting the interests of our clients is a point of honor. At Engel & Völkers, we firmly count on innovation, co-operation, professionalism and reliability to drive success. Our culture of expertise and passion is shared through our proprietary technology which leverages the full power of our network for the clients we serve. In this way, we are truly connected. Let us make the right connections for you. We look forward to working with you closely to examine your real estate goals before developing a strategy to obtain them.
591
Please contact me to schedule a brief introductory meeting and complimentary home valuation.
How’s the Hilton Head Island Real Estate Market Doing?
YTD Hilton Head Island Home Sales YTD Through January 31 for Each Year
COMMUNITY SPECIALIST Linda Rudd is your Wexford Specialist having previously lived, and been an active member, in the community
for over ten years. Just in the last year, she has had four home sales in Wexford. Please contact her if you’d like a no-obligation home evaluation.
PRSRT STD US POSTAGE PAID Permit 73
Linda Rudd Real Estate Advisor, Team Leader
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
Telephone • 843-816-5522 Email • linda.rudd@evusa.com Website • www.lindaruddteam.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.
Local Postal Customer
Year
Number of Homes Sold
Median Price
2013
38
$567,000
2014
53
$490,000
2015
45
$535,000
2016
62
$447,500
2017
54
$504,000
2018
64
$496,000
The Hilton Head Island housing market in January 2018 enjoyed its best year since the beginning of the recession. More homes sold in January 2018 than in any January since 2005, according to statistics from the Hilton Head Area Multiple Listing Service. As you can see from the chart to the left sales on the Island are up 10 homes sold (19%) over January 2017. The median price however did drop an insignificant 1.6% compared to January 2017 but is 42% below the peak set in 2006. With today’s historically low interest rates and prices still way below the peak, it is an extraordinary time to invest in real estate on the Island.
This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2018 through February 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.
Wexford Home Listings ADDRESS
Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Sold Sold Sold Sold Sold
63 Bridgetown Road 19 Knightsbridge Lane 60 Wicklow Drive 13 Bridgetown Road 56 Yorkshire Drive 60 Yorkshire Drive 9 Cambridge Circle 2 Wexford On The Green 2 Wicklow Drive 12 Castlebridge Court 8 Wexford Club Drive 22 Wexford Drive 10 Harrogate Drive 22 Wexford On The Green 3 Wicklow Drive 27 Bridgetown Road 18 Harrogate Drive 9 Wexford on the Green 42 Bridgetown Road 48 Bridgetown Road 44 Yorkshire Drive 30 Wexford Drive 19 Coventry Lane 50 Yorkshire Drive 25 Wexford Circle 9 Wexford Club Drive 34 Bridgetown Road 3 Wexford Drive E 10 Wexford On The Green 11 Yorkshire Drive 27 Yorkshire Drive 45 Wexford On The Green 57 Wexford On The Green 15 Wexford On The Green 13 Wexford On The Green 40 Wexford Club Drive 6 Coventry Lane 4 Plumbridge Lane 41 Wicklow Drive 21 Yorkshire Drive 9 Bridgetown Road 6 Cambridge Circle
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between November 1, 2017 and January 1, 2018
KEY TRENDS
Freddie Mac Mortgage Rates - 30 Year Fixed Rate Source: Freddie Mac, January 2018
The Impact Staging Your Home Has on Sales Price
KEY TRENDS
Source: Keeping Current Matters, January 2018
To Stage...or Not to Stage? That is the Question! The National Association of Realtors surveyed their members and released the findings of their Annual Profile of Home Staging.
TOP findings from seller’s agents Living Room
25% 50%
of sellers paid to have their homes staged before listing of staged homes saw a 1-10% increase in dollar value offers from buyers
TOP findings from BUYEr’s agents
77% 40% 38% 44%
said staging made it easier for home buyers to visualize the home as their own of buyers were more willing to visit a home they saw online if it was staged
TOP ROOMS TO STAGE TO ATTRACT BUYERS
STATUS
TOTAL APPROX. YEAR VIEW FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT Golf, Harbor 5 6 0 7,196 2003 $2,699,000 --Golf, Harbor 5 5 1 5,752 2015 $2,595,000 --Golf 6 6 2 8,346 2004 $1,995,000 --Deep Water, Harbor 4 4 1 4,400 1987 $1,995,000 --Deep Water, Marsh 5 6 1 7,111 2000 $1,925,000 --Golf, Marsh 4 5 0 4,579 2006 $1,895,000 --Deep Water, Harbor 4 4 1 5,300 1991 $1,875,000 --Harbor, Marsh 4 5 1 6,366 2002 $1,840,000 --Golf, Pool 5 6 1 5,082 2017 $1,795,000 --Harbor 5 5 1 5,182 2003 $1,600,000 --Harbor 3 3 2 3,519 2000 $1,599,000 --Golf 5 4 1 5,752 2006 $1,595,000 --Golf, Lagoon/Canal 5 5 1 4,900 1992 $1,399,000 --Deep Water 7 7 1 8,465 2007 $1,225,000 --Golf, Pool 4 4 1 4,811 2000 $1,134,000 --Deep Water, Harbor 4 4 1 5,010 1986 $1,095,000 --Golf 4 3 1 4,750 2005 $979,000 --Harbor, Pool 4 3 1 3,824 2007 $979,000 --Golf, Landscape 5 4 2 4,404 1995 $974,000 --Golf, Pool 4 5 1 3,815 1984 $954,000 --Golf, Lagoon/Canal 5 5 1 4,607 2000 $952,000 --Golf 4 4 1 4,682 1993 $829,000 --Lagoon/Canal, Marsh 4 5 1 4,115 2006 $829,000 --Deep Water, Golf 3 3 2 3,840 1996 $799,000 --Golf 5 5 1 4,104 1984 $799,000 --Golf, Lagoon/Canal 4 4 1 3,555 2001 $799,000 --Golf 4 5 1 5,276 1991 $734,000 --Lagoon/Canal, Wooded 3 3 2 3,400 2000 $719,000 --Harbor 3 3 2 2,600 1990 $695,000 --Golf 3 3 1 3,116 1985 $675,000 --Golf 4 3 1 3,200 1985 $649,000 --Golf, Marsh 3 4 2 3,214 2007 $599,000 --Golf, Marsh 4 4 1 3,283 2006 $599,000 --Harbor, Landscape 3 3 1 3,297 2000 $559,000 --Golf, Harbor 3 3 1 2,101 2000 $389,990 --Harbor 5 4 1 4,704 1983 $699,000 --Marsh 3 3 0 2,323 1990 $595,000 --Harbor 4 4 3 6,293 2006 $2,995,000 $2,500,000 Golf 4 5 2 6,200 2016 $1,545,000 $1,445,000 Golf, Lagoon/Canal 4 4 1 4,136 1985 $795,000 $795,000 Harbor 3 2 1 2,576 1984 $589,000 $565,000 Deep Water, Harbor 3 4 1 3,180 1992 $495,000 $495,000
Master Bedroom
Kitchen
saw positive impact on home value if the home is decorated to a buyer’s taste saw an increase of 1-10% in dollar value offers on a staged home Dining Room
2018
Some Highlights: • The National Association of Realtors surveyed their members and released the findings of their Annual Profile of Home Staging
2015
2016
2017
• 50% of staged homes saw a 1-10% increase in dollar value offers from buyers
ACTUAL PROJECTED RATE
2015 Q1
2015 Q2
2015 Q3
2015 Q4
2016 Q1
2016 Q2
2016 Q3
2016 Q4
2017 Q1
2017 Q2
2017 Q3
2017 Q4
2018 Q1
2018 Q2
2018 Q3
2018 Q4
3.7%
3.8%
4.0%
3.9%
3.7%
3.6%
3.5%
3.8%
4.2%
4.0%
3.9%
3.9%
4.1%
4.3%
4.4%
4.6%
How Did We Finish 2017? New-home sales are at the highest level in a decade. Sales of previously owned homes are at the highest level in more than a decade. Starts of single-family homes are the strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.
• 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own • The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room
Wexford Home Listings ADDRESS
Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Pending Pending Sold Sold Sold Sold Sold
63 Bridgetown Road 19 Knightsbridge Lane 60 Wicklow Drive 13 Bridgetown Road 56 Yorkshire Drive 60 Yorkshire Drive 9 Cambridge Circle 2 Wexford On The Green 2 Wicklow Drive 12 Castlebridge Court 8 Wexford Club Drive 22 Wexford Drive 10 Harrogate Drive 22 Wexford On The Green 3 Wicklow Drive 27 Bridgetown Road 18 Harrogate Drive 9 Wexford on the Green 42 Bridgetown Road 48 Bridgetown Road 44 Yorkshire Drive 30 Wexford Drive 19 Coventry Lane 50 Yorkshire Drive 25 Wexford Circle 9 Wexford Club Drive 34 Bridgetown Road 3 Wexford Drive E 10 Wexford On The Green 11 Yorkshire Drive 27 Yorkshire Drive 45 Wexford On The Green 57 Wexford On The Green 15 Wexford On The Green 13 Wexford On The Green 40 Wexford Club Drive 6 Coventry Lane 4 Plumbridge Lane 41 Wicklow Drive 21 Yorkshire Drive 9 Bridgetown Road 6 Cambridge Circle
Definitions for Listings Active - On the Market Pending - Under Contract Sold - Closed Between November 1, 2017 and January 1, 2018
KEY TRENDS
Freddie Mac Mortgage Rates - 30 Year Fixed Rate Source: Freddie Mac, January 2018
The Impact Staging Your Home Has on Sales Price
KEY TRENDS
Source: Keeping Current Matters, January 2018
To Stage...or Not to Stage? That is the Question! The National Association of Realtors surveyed their members and released the findings of their Annual Profile of Home Staging.
TOP findings from seller’s agents Living Room
25% 50%
of sellers paid to have their homes staged before listing of staged homes saw a 1-10% increase in dollar value offers from buyers
TOP findings from BUYEr’s agents
77% 40% 38% 44%
said staging made it easier for home buyers to visualize the home as their own of buyers were more willing to visit a home they saw online if it was staged
TOP ROOMS TO STAGE TO ATTRACT BUYERS
STATUS
TOTAL APPROX. YEAR VIEW FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT Golf, Harbor 5 6 0 7,196 2003 $2,699,000 --Golf, Harbor 5 5 1 5,752 2015 $2,595,000 --Golf 6 6 2 8,346 2004 $1,995,000 --Deep Water, Harbor 4 4 1 4,400 1987 $1,995,000 --Deep Water, Marsh 5 6 1 7,111 2000 $1,925,000 --Golf, Marsh 4 5 0 4,579 2006 $1,895,000 --Deep Water, Harbor 4 4 1 5,300 1991 $1,875,000 --Harbor, Marsh 4 5 1 6,366 2002 $1,840,000 --Golf, Pool 5 6 1 5,082 2017 $1,795,000 --Harbor 5 5 1 5,182 2003 $1,600,000 --Harbor 3 3 2 3,519 2000 $1,599,000 --Golf 5 4 1 5,752 2006 $1,595,000 --Golf, Lagoon/Canal 5 5 1 4,900 1992 $1,399,000 --Deep Water 7 7 1 8,465 2007 $1,225,000 --Golf, Pool 4 4 1 4,811 2000 $1,134,000 --Deep Water, Harbor 4 4 1 5,010 1986 $1,095,000 --Golf 4 3 1 4,750 2005 $979,000 --Harbor, Pool 4 3 1 3,824 2007 $979,000 --Golf, Landscape 5 4 2 4,404 1995 $974,000 --Golf, Pool 4 5 1 3,815 1984 $954,000 --Golf, Lagoon/Canal 5 5 1 4,607 2000 $952,000 --Golf 4 4 1 4,682 1993 $829,000 --Lagoon/Canal, Marsh 4 5 1 4,115 2006 $829,000 --Deep Water, Golf 3 3 2 3,840 1996 $799,000 --Golf 5 5 1 4,104 1984 $799,000 --Golf, Lagoon/Canal 4 4 1 3,555 2001 $799,000 --Golf 4 5 1 5,276 1991 $734,000 --Lagoon/Canal, Wooded 3 3 2 3,400 2000 $719,000 --Harbor 3 3 2 2,600 1990 $695,000 --Golf 3 3 1 3,116 1985 $675,000 --Golf 4 3 1 3,200 1985 $649,000 --Golf, Marsh 3 4 2 3,214 2007 $599,000 --Golf, Marsh 4 4 1 3,283 2006 $599,000 --Harbor, Landscape 3 3 1 3,297 2000 $559,000 --Golf, Harbor 3 3 1 2,101 2000 $389,990 --Harbor 5 4 1 4,704 1983 $699,000 --Marsh 3 3 0 2,323 1990 $595,000 --Harbor 4 4 3 6,293 2006 $2,995,000 $2,500,000 Golf 4 5 2 6,200 2016 $1,545,000 $1,445,000 Golf, Lagoon/Canal 4 4 1 4,136 1985 $795,000 $795,000 Harbor 3 2 1 2,576 1984 $589,000 $565,000 Deep Water, Harbor 3 4 1 3,180 1992 $495,000 $495,000
Master Bedroom
Kitchen
saw positive impact on home value if the home is decorated to a buyer’s taste saw an increase of 1-10% in dollar value offers on a staged home Dining Room
2018
Some Highlights: • The National Association of Realtors surveyed their members and released the findings of their Annual Profile of Home Staging
2015
2016
2017
• 50% of staged homes saw a 1-10% increase in dollar value offers from buyers
ACTUAL PROJECTED RATE
2015 Q1
2015 Q2
2015 Q3
2015 Q4
2016 Q1
2016 Q2
2016 Q3
2016 Q4
2017 Q1
2017 Q2
2017 Q3
2017 Q4
2018 Q1
2018 Q2
2018 Q3
2018 Q4
3.7%
3.8%
4.0%
3.9%
3.7%
3.6%
3.5%
3.8%
4.2%
4.0%
3.9%
3.9%
4.1%
4.3%
4.4%
4.6%
How Did We Finish 2017? New-home sales are at the highest level in a decade. Sales of previously owned homes are at the highest level in more than a decade. Starts of single-family homes are the strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.
• 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own • The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room
THE STATE
Our international reach finds home buyers.
of the Wexford Real Estate Market 5
February 2018
Continents
33
KEY METRICS
Countries
750
+
January 2018 in Review
Shops
In Wexford Plantation, three homes closed in the first month of 2018, compared to just one home closing the same time last year. January’s 2018 total dollar volume was $2.805K, up from $1.825K in January 2017. Supply and demand: as of February 5th, 2018, there are 35 Wexford homes listed for sale with an average of 1.83 homes selling per month over the last six months. That translates into a 19.13-month supply, considered by industry experts to be a strong buyer’s market. There are two homes under contract in Wexford.
9,000+
Advisors
International buyers have invested more than $92 billion in U.S. homes (Source: 2014 Profile of International Home Buying Activity). Today’s real estate professionals need to demonstrate international expertise and have the proven ability to promote their properties to buyers worldwide. Engel & Völkers is a revolutionary global brand with more than 750 brokerages and 9,000 advisors in highly desirable markets including the United States, Canada and Europe. A global real estate network with buyer referrals from national and international markets such as Atlanta, New York Metro Area, Canada and Europe.
3
$795,000
95.93%
331
Total Sales
Median Price
Sale to List Price
Median Days on Market
Industry-leading technology tools that reach home buyers and sellers online where 92% of people begin their home search. Source: National Association of Realtors
At Engel & Völkers Hilton Head Island - Bluffton, we are committed to bringing that same revolutionary approach to the Wexford real estate market. Our goal is to provide unrivaled service in the residential real estate market as we bring qualified buyers from around the world to unique properties throughout the Lowcountry. Only the most dedicated and professional advisors, with an exclusive clientele built from years of experience, are a part of our brand. By combining the local market expertise of our seasoned team with an exceptional global network, we are able to find buyers for our deserving clients.
Hilton Head Island Real Estate Market Overview ACTIVE LISTINGS ON HILTON HEAD ISLAND
We believe that discretion is the cornerstone of any trustworthy relationship and that protecting the interests of our clients is a point of honor. At Engel & Völkers, we firmly count on innovation, co-operation, professionalism and reliability to drive success. Our culture of expertise and passion is shared through our proprietary technology which leverages the full power of our network for the clients we serve. In this way, we are truly connected. Let us make the right connections for you. We look forward to working with you closely to examine your real estate goals before developing a strategy to obtain them.
591
Please contact me to schedule a brief introductory meeting and complimentary home valuation.
How’s the Hilton Head Island Real Estate Market Doing?
YTD Hilton Head Island Home Sales YTD Through January 31 for Each Year
COMMUNITY SPECIALIST Linda Rudd is your Wexford Specialist having previously lived, and been an active member, in the community
for over ten years. Just in the last year, she has had four home sales in Wexford. Please contact her if you’d like a no-obligation home evaluation.
PRSRT STD US POSTAGE PAID Permit 73
Linda Rudd Real Estate Advisor, Team Leader
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
Telephone • 843-816-5522 Email • linda.rudd@evusa.com Website • www.lindaruddteam.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.
Local Postal Customer
Year
Number of Homes Sold
Median Price
2013
38
$567,000
2014
53
$490,000
2015
45
$535,000
2016
62
$447,500
2017
54
$504,000
2018
64
$496,000
The Hilton Head Island housing market in January 2018 enjoyed its best year since the beginning of the recession. More homes sold in January 2018 than in any January since 2005, according to statistics from the Hilton Head Area Multiple Listing Service. As you can see from the chart to the left sales on the Island are up 10 homes sold (19%) over January 2017. The median price however did drop an insignificant 1.6% compared to January 2017 but is 42% below the peak set in 2006. With today’s historically low interest rates and prices still way below the peak, it is an extraordinary time to invest in real estate on the Island.
This information is based on data provided by Multiple Listing Service of Hilton Head Island, Inc. (“HHIMLS”) for the period January 2018 through February 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.