THE STATE
Our international reach finds buyers.
of the Wexford Real Estate Market
March 2018
KEY METRICS
February 2018 in Review
In Wexford Plantation, three homes closed in the first two months of 2018, compared to the four homes that closed during the same time last year. January and February 2018’s total dollar volume was $2.805M, down compared to $4.762M in 2017. Supply and demand: as of March 2nd, 2018, there are 35 Wexford homes listed for sale with an average of 1.33 homes selling per month over the last six months. That translates into a 26.32-month supply, considered by industry experts to be a very strong buyer’s market. There are three homes under contract in Wexford.
At Engel & Völkers Hilton Head Island - Bluffton, we are committed to bringing a 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. 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. We look forward to working with you closely to examine your real estate goals before developing a strategy to obtain them.
3
$795,000
95.93%
331
Total Sales
Median Price
Sale to List Price
Median Days on Market
Please contact me to schedule a brief introductory meeting and complimentary home valuation. ™
Extensive Domestic & Global Exposure (EDGE )
TECH FOCUS
Smart Marketing, Extensive Exposure, and Tailored Strategies to Sell Your Home
Hilton Head Island Real Estate Market Overview ACTIVE LISTINGS ON HILTON HEAD ISLAND
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.
618
• Highly trusted strategic online and mobile marketing partners with a combined 500 million website and mobile views per month
YTD Hilton Head Island Home Sales
• A global network spanning more than 30 countries with 9,000 Advisors in 750 shops around the world
YTD Through February 28 for Each Year
• White-glove professionalism and local market expertise of your dedicated Advisor Let us provide the EDGE you need to sell your home.
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.
How’s the Hilton Head Island Real Estate Market Doing?
Local Postal Customer
Year
Number of Homes Sold
Median Price
2013
85
$509,000
2014
98
$493,000
2015
97
$522,000
2016
108
$516,000
2017
100
$527,000
2018
129
$510,000
In 2018 the Hilton Head Island housing market enjoyed its best first two months since the beginning of the recession. More homes sold in first two months of 2018 than in any year 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 29% from 2017. The median price however did drop 3.2% but is still 34% below the peak set in 2006. The median price of homes selling in the US is at its highest ever. It is expected that Island prices in the next several years will also rise into record-setting territory. Thus, with prices still way below the peak and today’s historically low interest rates, it is an exceptional 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 March 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
Source: Hilton Head Multiple Listing Service, March 2018
Median Price of Homes Sold Each Year
Median Prices of Homes Sold Hilton Head Island/Bluffton 2005-2017
$500,000 $430,000
$400,000
$378,000 $383,000 $333,000
$325,000
$300,000
$283,000
$322,000 $305,000
$253,000
$280,000
$266,000 $259,000
$275,000
$200,000 17
20
16
20
15
20
14
20
13
20
12
20
11
20
10
20
09
20
08
20
07
Golf, Harbor Golf, Harbor Golf Deep Water, Harbor Deep Water, Marsh Harbor Golf, Marsh Deep Water, Harbor Harbor, Marsh Golf, Pool Golf, River Harbor Golf Harbor Golf, Lagoon Deep Water Golf, Pool Deep Water, Harbor Harbor, Pool Golf, Landscape Golf Golf, Pool Golf Golf Lagoon, Marsh Golf Golf, Lagoon Golf Harbor Golf Deep Water, Marsh Golf, Marsh Golf, Marsh Golf, Harbor Golf, Lagoon Harbor Marsh Harbor Golf Golf, Lagoon Harbor Deep Water, Harbor
20
63 Bridgetown Road 19 Knightsbridge Lane 60 Wicklow Drive 13 Bridgetown Road 56 Yorkshire Drive 21 Plumbridge Lane 60 Yorkshire Drive 9 Cambridge Circle 2 Wexford On The Green 2 Wicklow Drive 52 Yorkshire Drive 12 Castlebridge Court 22 Wexford Drive 8 Wexford Club Drive 10 Harrogate Drive 22 Wexford On The Green 3 Wicklow Drive 27 Bridgetown Road 9 Wexford on the Green 42 Bridgetown Road 18 Harrogate Drive 48 Bridgetown Road 8 Bridgetown Road 30 Wexford Drive 19 Coventry Lane 25 Wexford Circle 9 Wexford Club Drive 34 Bridgetown Road 10 Wexford On The Green 11 Yorkshire Drive 20 Wexford On The Green 45 Wexford On The Green 57 Wexford On The Green 13 Wexford On The Green 44 Yorkshire Drive 40 Wexford Club Drive 6 Coventry Lane 4 Plumbridge Lane 41 Wicklow Drive 21 Yorkshire Drive 9 Bridgetown Road 6 Cambridge Circle
06
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 Pending Sold Sold Sold Sold Sold
20
VIEW
05
ADDRESS
KEY TRENDS
Home Prices Are On Their Way Up 3.4% Over The Previous Year!
20
STATUS
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 5 6 0 7,196 2003 $2,699,000 --5 5 1 5,752 2015 $2,595,000 --6 6 2 8,346 2004 $1,995,000 --4 4 1 4,400 1987 $1,995,000 --5 6 1 7,111 2000 $1,990,000 --4 4 3 4,762 1986 $1,929,000 --4 5 0 4,579 2006 $1,895,000 --4 4 1 5,300 1991 $1,875,000 --4 5 1 6,366 2002 $1,840,000 --5 6 1 5,082 2017 $1,795,000 --5 5 1 5,696 1995 $1,749,000 --5 5 1 5,182 2003 $1,600,000 --5 4 1 5,752 2006 $1,595,000 --3 3 2 3,519 2000 $1,399,000 --5 5 1 4,900 1992 $1,349,000 --7 7 1 8,465 2007 $1,225,000 --4 4 1 4,811 2000 $1,132,000 --4 4 1 5,010 1986 $1,095,000 --4 3 1 3,824 2007 $979,000 --5 4 2 4,404 1995 $974,000 --4 3 1 4,750 2005 $949,000 --4 5 1 3,815 1984 $899,000 --5 5 1 4,575 1987 $899,000 --4 4 1 4,682 1993 $829,000 --4 5 1 4,115 2006 $819,000 --5 5 1 4,104 1984 $799,000 --4 4 1 3,555 2001 $799,000 --4 5 1 5,276 1991 $729,000 --3 3 2 2,600 1990 $695,000 --3 3 1 3,116 1985 $675,000 --4 4 1 3,526 1994 $675,000 --3 4 2 3,214 2007 $599,000 --4 4 1 3,283 2006 $599,000 --3 3 1 2,101 2000 $389,990 --5 5 1 4,607 2000 $919,000 --5 4 1 4,704 1983 $699,000 --3 3 0 2,323 1990 $595,000 --4 4 3 6,293 2006 $2,995,000 $2,500,000 4 5 2 6,200 2016 $1,545,000 $1,445,000 4 4 1 4,136 1985 $795,000 $795,000 3 2 1 2,576 1984 $589,000 $565,000 3 4 1 3,180 1992 $495,000 $495,000
Because of the sustained improvement of the last seven years in the number of sales, the median price of homes, according to MLS data, is on the way up. The median price of homes sold in 2017 was 3.4% over 2016. The good news is that homes are still 23% below the Pre-Recession peak set in 2005.
How Much Does Waiting To Buy Your Next Home Cost You?
KEY TRENDS
Source: Keeping Current Matters, March 2018
Definitions for Listings
KEY TRENDS
Four Reasons to Sell Your Home This Spring
Active - On the Market Pending - Under Contract Sold - Closed Between December 1, 2017 and February 28, 2018
Source: Keeping Current Matters, March 2018
#1 - BUYER DEMAND WILL REMAIN 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 42 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 4.3% 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 - IT’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!
Date Today 2019
Mortgage
Interest Rate*
$500,000 4.0% $521,000 4.9% DIFFERENCE IN MONTHLY PAYMENT $378.01
P&I** $2,387.08 $2,765.09
*Average Commitment Rate Per Freddie Mac. **Principle and Interest Payment
Wexford Home Listings
Source: Hilton Head Multiple Listing Service, March 2018
Median Price of Homes Sold Each Year
Median Prices of Homes Sold Hilton Head Island/Bluffton 2005-2017
$500,000 $430,000
$400,000
$378,000 $383,000 $333,000
$325,000
$300,000
$283,000
$322,000 $305,000
$253,000
$280,000
$266,000 $259,000
$275,000
$200,000 17
20
16
20
15
20
14
20
13
20
12
20
11
20
10
20
09
20
08
20
07
Golf, Harbor Golf, Harbor Golf Deep Water, Harbor Deep Water, Marsh Harbor Golf, Marsh Deep Water, Harbor Harbor, Marsh Golf, Pool Golf, River Harbor Golf Harbor Golf, Lagoon Deep Water Golf, Pool Deep Water, Harbor Harbor, Pool Golf, Landscape Golf Golf, Pool Golf Golf Lagoon, Marsh Golf Golf, Lagoon Golf Harbor Golf Deep Water, Marsh Golf, Marsh Golf, Marsh Golf, Harbor Golf, Lagoon Harbor Marsh Harbor Golf Golf, Lagoon Harbor Deep Water, Harbor
20
63 Bridgetown Road 19 Knightsbridge Lane 60 Wicklow Drive 13 Bridgetown Road 56 Yorkshire Drive 21 Plumbridge Lane 60 Yorkshire Drive 9 Cambridge Circle 2 Wexford On The Green 2 Wicklow Drive 52 Yorkshire Drive 12 Castlebridge Court 22 Wexford Drive 8 Wexford Club Drive 10 Harrogate Drive 22 Wexford On The Green 3 Wicklow Drive 27 Bridgetown Road 9 Wexford on the Green 42 Bridgetown Road 18 Harrogate Drive 48 Bridgetown Road 8 Bridgetown Road 30 Wexford Drive 19 Coventry Lane 25 Wexford Circle 9 Wexford Club Drive 34 Bridgetown Road 10 Wexford On The Green 11 Yorkshire Drive 20 Wexford On The Green 45 Wexford On The Green 57 Wexford On The Green 13 Wexford On The Green 44 Yorkshire Drive 40 Wexford Club Drive 6 Coventry Lane 4 Plumbridge Lane 41 Wicklow Drive 21 Yorkshire Drive 9 Bridgetown Road 6 Cambridge Circle
06
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 Pending Sold Sold Sold Sold Sold
20
VIEW
05
ADDRESS
KEY TRENDS
Home Prices Are On Their Way Up 3.4% Over The Previous Year!
20
STATUS
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 5 6 0 7,196 2003 $2,699,000 --5 5 1 5,752 2015 $2,595,000 --6 6 2 8,346 2004 $1,995,000 --4 4 1 4,400 1987 $1,995,000 --5 6 1 7,111 2000 $1,990,000 --4 4 3 4,762 1986 $1,929,000 --4 5 0 4,579 2006 $1,895,000 --4 4 1 5,300 1991 $1,875,000 --4 5 1 6,366 2002 $1,840,000 --5 6 1 5,082 2017 $1,795,000 --5 5 1 5,696 1995 $1,749,000 --5 5 1 5,182 2003 $1,600,000 --5 4 1 5,752 2006 $1,595,000 --3 3 2 3,519 2000 $1,399,000 --5 5 1 4,900 1992 $1,349,000 --7 7 1 8,465 2007 $1,225,000 --4 4 1 4,811 2000 $1,132,000 --4 4 1 5,010 1986 $1,095,000 --4 3 1 3,824 2007 $979,000 --5 4 2 4,404 1995 $974,000 --4 3 1 4,750 2005 $949,000 --4 5 1 3,815 1984 $899,000 --5 5 1 4,575 1987 $899,000 --4 4 1 4,682 1993 $829,000 --4 5 1 4,115 2006 $819,000 --5 5 1 4,104 1984 $799,000 --4 4 1 3,555 2001 $799,000 --4 5 1 5,276 1991 $729,000 --3 3 2 2,600 1990 $695,000 --3 3 1 3,116 1985 $675,000 --4 4 1 3,526 1994 $675,000 --3 4 2 3,214 2007 $599,000 --4 4 1 3,283 2006 $599,000 --3 3 1 2,101 2000 $389,990 --5 5 1 4,607 2000 $919,000 --5 4 1 4,704 1983 $699,000 --3 3 0 2,323 1990 $595,000 --4 4 3 6,293 2006 $2,995,000 $2,500,000 4 5 2 6,200 2016 $1,545,000 $1,445,000 4 4 1 4,136 1985 $795,000 $795,000 3 2 1 2,576 1984 $589,000 $565,000 3 4 1 3,180 1992 $495,000 $495,000
Because of the sustained improvement of the last seven years in the number of sales, the median price of homes, according to MLS data, is on the way up. The median price of homes sold in 2017 was 3.4% over 2016. The good news is that homes are still 23% below the Pre-Recession peak set in 2005.
How Much Does Waiting To Buy Your Next Home Cost You?
KEY TRENDS
Source: Keeping Current Matters, March 2018
Definitions for Listings
KEY TRENDS
Four Reasons to Sell Your Home This Spring
Active - On the Market Pending - Under Contract Sold - Closed Between December 1, 2017 and February 28, 2018
Source: Keeping Current Matters, March 2018
#1 - BUYER DEMAND WILL REMAIN 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 42 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 4.3% 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 - IT’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!
Date Today 2019
Mortgage
Interest Rate*
$500,000 4.0% $521,000 4.9% DIFFERENCE IN MONTHLY PAYMENT $378.01
P&I** $2,387.08 $2,765.09
*Average Commitment Rate Per Freddie Mac. **Principle and Interest Payment
THE STATE
Our international reach finds buyers.
of the Wexford Real Estate Market
March 2018
KEY METRICS
February 2018 in Review
In Wexford Plantation, three homes closed in the first two months of 2018, compared to the four homes that closed during the same time last year. January and February 2018’s total dollar volume was $2.805M, down compared to $4.762M in 2017. Supply and demand: as of March 2nd, 2018, there are 35 Wexford homes listed for sale with an average of 1.33 homes selling per month over the last six months. That translates into a 26.32-month supply, considered by industry experts to be a very strong buyer’s market. There are three homes under contract in Wexford.
At Engel & Völkers Hilton Head Island - Bluffton, we are committed to bringing a 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. 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. We look forward to working with you closely to examine your real estate goals before developing a strategy to obtain them.
3
$795,000
95.93%
331
Total Sales
Median Price
Sale to List Price
Median Days on Market
Please contact me to schedule a brief introductory meeting and complimentary home valuation. ™
Extensive Domestic & Global Exposure (EDGE )
TECH FOCUS
Smart Marketing, Extensive Exposure, and Tailored Strategies to Sell Your Home
Hilton Head Island Real Estate Market Overview ACTIVE LISTINGS ON HILTON HEAD ISLAND
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.
618
• Highly trusted strategic online and mobile marketing partners with a combined 500 million website and mobile views per month
YTD Hilton Head Island Home Sales
• A global network spanning more than 30 countries with 9,000 Advisors in 750 shops around the world
YTD Through February 28 for Each Year
• White-glove professionalism and local market expertise of your dedicated Advisor Let us provide the EDGE you need to sell your home.
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.
How’s the Hilton Head Island Real Estate Market Doing?
Local Postal Customer
Year
Number of Homes Sold
Median Price
2013
85
$509,000
2014
98
$493,000
2015
97
$522,000
2016
108
$516,000
2017
100
$527,000
2018
129
$510,000
In 2018 the Hilton Head Island housing market enjoyed its best first two months since the beginning of the recession. More homes sold in first two months of 2018 than in any year 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 29% from 2017. The median price however did drop 3.2% but is still 34% below the peak set in 2006. The median price of homes selling in the US is at its highest ever. It is expected that Island prices in the next several years will also rise into record-setting territory. Thus, with prices still way below the peak and today’s historically low interest rates, it is an exceptional 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 March 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.