THE STATE
Our Portfolio of Fine Homes in Wexford
of the Wexford Real Estate Market
April 2018
KEY METRICS
First Quarter of 2018 in Review
In Wexford Plantation, four homes closed in the first quarter of 2018, compared to the five homes which closed during the same period last year. So far, in the first three months of 2018, the total dollar volume was $3,675,000, down compared to $5,804,500 in 2017. Supply and demand: as of April 2nd, 2018, there are 32 Wexford homes listed for sale with an average of 1.33 homes selling per month over the last six months. That translates into a 24.06-month supply, considered by industry experts to be a very strong buyer’s market. There are five homes under contract in Wexford.
4
$832,500
95.30%
464
Total Sales
Median Price
Sale to List Price
Median Days on Market
Hilton Head Island Real Estate Market Overview ACTIVE LISTINGS ON HILTON HEAD ISLAND
636 A Singular Property Sequestered in the premier harbor setting of a private golf club community, this spectacular property makes a captivating statement throughout. The impressive street presence, enhanced by circular-drive drama on an expansive home site, sets the stage for this wonderfully designed home. Lush landscaping and cul-de-sac privacy add further appeal. The engaging open floor plan masterfully couples soaring ceilings with endless glass creating a sunlit ambiance on the mesmerizing 180° golf vista. A premium view. Updated throughout and featuring an enduring architectural style, this upscale, yet understated, spacious home shows like a model perfectly fitting our envied island lifestyle. It showcases beautiful baths: lovely granite; stainless steel appliances; gleaming hardwood; stone; designer tile; great master suite; private covered guest-deck. Nestled in the seclusion afforded by a spectacular view, the dramatic pool and multi-level deck setting, complete with pool bath, crowns this exceptional property. How could it get any better? It actually does as this boater’s dream is located just a stone’s throw from the famous beaches of Hilton Head Island. 48 Bridgetown Road, Wexford 4 Bedrooms | 5.5 Bathrooms | 3,815 Htd. SqFt | $899,000 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
How’s the Hilton Head Island Real Estate Market Doing?
YTD Hilton Head Island Home Sales YTD Through March 31 for Each Year
Year
Number of Homes Sold
Median Price
2013
149
$470,000
2014
169
$485,000
2015
181
$531,000
2016
183
$500,000
2017
177
$520,000
2018
211
$532,000
In 2018 the Hilton Head Island housing market enjoyed its best first quarter in 13 years, according to statistics from the Hilton Head Area Multiple Listing Service. As you can see from the chart to the left, the number of sales in the first quarter are up to 211, a 19% increase from 2017. The median price is also up, 2.2% above the 2017 first quarter median price, but is still 28% 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 April 4, 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 STATUS
ADDRESS
VIEW
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 Pending Pending Sold Sold Sold Sold
63 Bridgetown Road 21 Plumbridge Lane 60 Wicklow Drive 60 Yorkshire Drive 56 Yorkshire Drive 2 Wexford On The Green 2 Wicklow Drive 22 Wexford Drive 12 Castlebridge Court 10 Harrogate Drive 22 Wexford On The Green 3 Wicklow Drive 8 Wexford Club Drive 27 Bridgetown Road 9 Wexford on the Green 42 Bridgetown Road 18 Harrogate Drive 48 Bridgetown Road 8 Bridgetown Road 19 Coventry Lane 30 Wexford Drive 25 Wexford Circle 9 Wexford Club Drive 50 Yorkshire Drive 34 Bridgetown Road 2 Coventry Lane 40 Wexford Club Drive 10 Wexford On The Green 11 Yorkshire Drive 45 Wexford On The Green 57 Wexford On The Green 13 Wexford On The Green 19 Knightsbridge Lane 13 Bridgetown Road 52 Yorkshire Drive 20 Wexford On The Green 6 Coventry Lane 41 Wicklow Drive 44 Yorkshire Drive 21 Yorkshire Drive 9 Bridgetown Road
Golf, Harbor Harbor Golf Golf, Marsh Deep Water, Marsh Deep Water, Harbor Golf, Pool Golf Harbor Golf, Lagoon Deep Water Golf, Pool Harbor Deep Water, Harbor Harbor, Pool Golf, Landscape Golf Golf, Pool Golf Lagoon, Marsh Golf Golf Golf, Lagoon Golf, Marsh Golf Marsh Harbor Harbor Golf Golf, Marsh Golf, Marsh Golf, Harbor Golf, Harbor Deep Water, Harbor Golf, River Deep Water, Marsh Marsh Golf Golf, Lagoon Golf, Lagoon Harbor
KEY TRENDS
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 5 6 0 7,196 2003 $2,699,000 --4 4 3 4,762 1986 $1,967,000 --6 6 2 8,346 2004 $1,945,000 --4 5 0 4,579 2006 $1,895,000 --5 6 1 7,111 2000 $1,890,000 --4 5 1 6,366 2002 $1,840,000 --5 6 1 5,082 2017 $1,795,000 --5 4 1 5,752 2006 $1,595,000 --5 5 1 5,182 2003 $1,550,000 --5 5 1 4,900 1992 $1,349,000 --7 7 1 8,465 2007 $1,225,000 --4 4 1 4,811 2000 $1,124,999 --3 3 2 3,519 2000 $1,099,000 --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 5 1 4,115 2006 $819,000 --4 4 1 4,682 1993 $799,000 --5 5 1 4,104 1984 $799,000 --4 4 1 3,555 2001 $799,000 --4 3 2 3,840 1996 $749,000 --4 5 1 5,276 1991 $729,000 --3 3 1 2,742 2001 $725,000 --5 4 1 4,704 1983 $699,000 --3 3 2 2,600 1990 $695,000 --3 3 1 3,116 1985 $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 5,752 2015 $2,395,000 --4 4 1 4,400 1987 $1,995,000 --5 5 1 5,696 1995 $1,749,000 --4 4 1 3,526 1994 $675,000 --3 3 0 2,323 1990 $595,000 --4 5 2 6,200 2016 $1,545,000 $1,445,000 5 5 1 4,607 2000 $919,000 $870,000 4 4 1 4,136 1985 $795,000 $795,000 3 2 1 2,576 1984 $589,000 $565,000
Definitions for Listings
Rising Mortgage Rates Do Not Lead to Falling Home Prices
Active - On the Market Pending - Under Contract Sold - Closed Between January 1, 2018 and March 31, 2018
Home Equity Growing Across America Source: Keeping Current Matters, March 2018
Forecasted Year Over Year % Change in Price by State KEY TAKEAWAYS WA 4.9%
VT (6.2%) ND 2.5%
MT 3.1% OR 5.7%
ID 4.0%
NV 7.8%
UT 3.8%
CA 9.1%
AZ 6.0%
CO 5.2%
+11%
IL 4.8%
4.8%
KY 3.8% 2.9%
OK 3.0%
TX 2.1%
WV 4.0%
PRICES* RATES
The graph on the right, based on data from the Insight Report, reveals what happened to home prices the last six times mortgage rates rose by at least 1%.
+3%
DC (3.7%)
2. You can also see that the equity in your house might be more than you think.
NC 3.8% SC 4.0%
AL 4.4%
3. CoreLogic, the leading provider of real estate data and analytics, is forecasting a year-over-year 4.3% level of appreciation across the country.
GA 3.8%
LA 2.6% FL 6.4%
AK 4.7%
UNITED STATES 4.3%
4. Now is the perfect time to sell, buy and/or invest as the market is strong.
< 0.0% 0.0% to 1.9% 2.0% to 3.9% 4.0% to 5.9%
HI 5.1%
> 6.0%
Actual Year Over Year % Change in Price by State WA 12.0%
VT (4.1%) ND 5.4%
MT 6.2% OR 6.9%
ID 10.7% WY 3.3% NV 11.0%
CA 8.2%
UT 10.7%
CO 8.0%
MN 5.7%
WI 5.9%
SD 4.3% IA 3.8%
NE 5.3% KS 3.9% OK 1.7%
NM 3.5%
IL 3.5%
OH 6.2%
IN 5.3%
6.6%
ME 8.1% NH (5.8%) MA (6.2%) RI (8.2%)
PA 3.8%
KY 5.6%
WV 5.0%
VA 2.7%
CT (1.9%) NJ (3.5%) DE (3.9%) MD (3.6%) DC (2.5%)
NC 5.5%
TN
SC 5.3%
AR 3.5% MS 3.8%
TX 5.7%
NY 5.3%
MI 7.1%
MO 5.6%
AL 4.4%
GA 5.8%
LA 5.1% FL 5.8%
AK 1.6%
UNITED STATES 6.6%
+7%
They went on to reveal that the Freddie Mac National House Price Index is “unresponsive to movements in interest rates. In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”
1. You can see that the real estate market is very strong across the whole country.
CT (6.1%) NJ (5.3%) DE (3.9%) MD (4.1%)
VA 4.1%
TN
AR 4.5% MS 3.1%
These two maps are very insightful for a number of reasons:
NH (5.8%) MA (4.7%) RI (3.4%)
PA 4.6% OH 4.2%
IN
ME 5.7%
NY 4.8%
MI 6.0%
MO 4.6%
KS 4.1%
NM 3.7%
6.3%
+13%
WI 4.1%
IA 4.1%
NE 3.9%
AZ
+13%
MN 3.4%
SD 3.5%
WY 3.1%
Source: Keeping Current Matters, March 2018
Many people believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect supply. Freddie Mac published an Insight Report titled Nowhere to Go but Up? How Increasing Mortgage Rates Could Affect Housing and from that report they said:“For current homeowners, the decision to buy a new home is typically linked to their decision to sell their current home...Because of this link, the financing costs of the existing mortgage are part of the homeowners decision of whether and when to move. Once financing costs for a new mortgage rise above the rate borrowers are paying for their current mortgage, borrowers would have to give up below-market financing to sell their home. Instead, they may choose to delay both the sale of their existing home and the purchase of a new home to maintain the advantageous financing.”
KEY TRENDS
< 0.0% 0.0% to 1.9% 2.0% to 3.9%
+2%
4.0% to 5.9%
10/1993 to 12/1994
01/1996 to 11/1996
10/1995 to 05/2005
06/2003 to 06/2004
06/2006 to 07/2006
11/2012 to 12/2013
+2.38%
+1.20%
+1.81%
+1.06%
+1.18%
+1.11%
*SEASONALLY ADJUSTED RATE BETWEEN START AND END DATES
HI 3.9%
> 6.0%
Wexford Home Listings STATUS
ADDRESS
VIEW
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 Pending Pending Sold Sold Sold Sold
63 Bridgetown Road 21 Plumbridge Lane 60 Wicklow Drive 60 Yorkshire Drive 56 Yorkshire Drive 2 Wexford On The Green 2 Wicklow Drive 22 Wexford Drive 12 Castlebridge Court 10 Harrogate Drive 22 Wexford On The Green 3 Wicklow Drive 8 Wexford Club Drive 27 Bridgetown Road 9 Wexford on the Green 42 Bridgetown Road 18 Harrogate Drive 48 Bridgetown Road 8 Bridgetown Road 19 Coventry Lane 30 Wexford Drive 25 Wexford Circle 9 Wexford Club Drive 50 Yorkshire Drive 34 Bridgetown Road 2 Coventry Lane 40 Wexford Club Drive 10 Wexford On The Green 11 Yorkshire Drive 45 Wexford On The Green 57 Wexford On The Green 13 Wexford On The Green 19 Knightsbridge Lane 13 Bridgetown Road 52 Yorkshire Drive 20 Wexford On The Green 6 Coventry Lane 41 Wicklow Drive 44 Yorkshire Drive 21 Yorkshire Drive 9 Bridgetown Road
Golf, Harbor Harbor Golf Golf, Marsh Deep Water, Marsh Deep Water, Harbor Golf, Pool Golf Harbor Golf, Lagoon Deep Water Golf, Pool Harbor Deep Water, Harbor Harbor, Pool Golf, Landscape Golf Golf, Pool Golf Lagoon, Marsh Golf Golf Golf, Lagoon Golf, Marsh Golf Marsh Harbor Harbor Golf Golf, Marsh Golf, Marsh Golf, Harbor Golf, Harbor Deep Water, Harbor Golf, River Deep Water, Marsh Marsh Golf Golf, Lagoon Golf, Lagoon Harbor
KEY TRENDS
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 5 6 0 7,196 2003 $2,699,000 --4 4 3 4,762 1986 $1,967,000 --6 6 2 8,346 2004 $1,945,000 --4 5 0 4,579 2006 $1,895,000 --5 6 1 7,111 2000 $1,890,000 --4 5 1 6,366 2002 $1,840,000 --5 6 1 5,082 2017 $1,795,000 --5 4 1 5,752 2006 $1,595,000 --5 5 1 5,182 2003 $1,550,000 --5 5 1 4,900 1992 $1,349,000 --7 7 1 8,465 2007 $1,225,000 --4 4 1 4,811 2000 $1,124,999 --3 3 2 3,519 2000 $1,099,000 --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 5 1 4,115 2006 $819,000 --4 4 1 4,682 1993 $799,000 --5 5 1 4,104 1984 $799,000 --4 4 1 3,555 2001 $799,000 --4 3 2 3,840 1996 $749,000 --4 5 1 5,276 1991 $729,000 --3 3 1 2,742 2001 $725,000 --5 4 1 4,704 1983 $699,000 --3 3 2 2,600 1990 $695,000 --3 3 1 3,116 1985 $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 5,752 2015 $2,395,000 --4 4 1 4,400 1987 $1,995,000 --5 5 1 5,696 1995 $1,749,000 --4 4 1 3,526 1994 $675,000 --3 3 0 2,323 1990 $595,000 --4 5 2 6,200 2016 $1,545,000 $1,445,000 5 5 1 4,607 2000 $919,000 $870,000 4 4 1 4,136 1985 $795,000 $795,000 3 2 1 2,576 1984 $589,000 $565,000
Definitions for Listings
Rising Mortgage Rates Do Not Lead to Falling Home Prices
Active - On the Market Pending - Under Contract Sold - Closed Between January 1, 2018 and March 31, 2018
Home Equity Growing Across America Source: Keeping Current Matters, March 2018
Forecasted Year Over Year % Change in Price by State KEY TAKEAWAYS WA 4.9%
VT (6.2%) ND 2.5%
MT 3.1% OR 5.7%
ID 4.0%
NV 7.8%
UT 3.8%
CA 9.1%
AZ 6.0%
CO 5.2%
+11%
IL 4.8%
4.8%
KY 3.8% 2.9%
OK 3.0%
TX 2.1%
WV 4.0%
PRICES* RATES
The graph on the right, based on data from the Insight Report, reveals what happened to home prices the last six times mortgage rates rose by at least 1%.
+3%
DC (3.7%)
2. You can also see that the equity in your house might be more than you think.
NC 3.8% SC 4.0%
AL 4.4%
3. CoreLogic, the leading provider of real estate data and analytics, is forecasting a year-over-year 4.3% level of appreciation across the country.
GA 3.8%
LA 2.6% FL 6.4%
AK 4.7%
UNITED STATES 4.3%
4. Now is the perfect time to sell, buy and/or invest as the market is strong.
< 0.0% 0.0% to 1.9% 2.0% to 3.9% 4.0% to 5.9%
HI 5.1%
> 6.0%
Actual Year Over Year % Change in Price by State WA 12.0%
VT (4.1%) ND 5.4%
MT 6.2% OR 6.9%
ID 10.7% WY 3.3% NV 11.0%
CA 8.2%
UT 10.7%
CO 8.0%
MN 5.7%
WI 5.9%
SD 4.3% IA 3.8%
NE 5.3% KS 3.9% OK 1.7%
NM 3.5%
IL 3.5%
OH 6.2%
IN 5.3%
6.6%
ME 8.1% NH (5.8%) MA (6.2%) RI (8.2%)
PA 3.8%
KY 5.6%
WV 5.0%
VA 2.7%
CT (1.9%) NJ (3.5%) DE (3.9%) MD (3.6%) DC (2.5%)
NC 5.5%
TN
SC 5.3%
AR 3.5% MS 3.8%
TX 5.7%
NY 5.3%
MI 7.1%
MO 5.6%
AL 4.4%
GA 5.8%
LA 5.1% FL 5.8%
AK 1.6%
UNITED STATES 6.6%
+7%
They went on to reveal that the Freddie Mac National House Price Index is “unresponsive to movements in interest rates. In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”
1. You can see that the real estate market is very strong across the whole country.
CT (6.1%) NJ (5.3%) DE (3.9%) MD (4.1%)
VA 4.1%
TN
AR 4.5% MS 3.1%
These two maps are very insightful for a number of reasons:
NH (5.8%) MA (4.7%) RI (3.4%)
PA 4.6% OH 4.2%
IN
ME 5.7%
NY 4.8%
MI 6.0%
MO 4.6%
KS 4.1%
NM 3.7%
6.3%
+13%
WI 4.1%
IA 4.1%
NE 3.9%
AZ
+13%
MN 3.4%
SD 3.5%
WY 3.1%
Source: Keeping Current Matters, March 2018
Many people believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect supply. Freddie Mac published an Insight Report titled Nowhere to Go but Up? How Increasing Mortgage Rates Could Affect Housing and from that report they said:“For current homeowners, the decision to buy a new home is typically linked to their decision to sell their current home...Because of this link, the financing costs of the existing mortgage are part of the homeowners decision of whether and when to move. Once financing costs for a new mortgage rise above the rate borrowers are paying for their current mortgage, borrowers would have to give up below-market financing to sell their home. Instead, they may choose to delay both the sale of their existing home and the purchase of a new home to maintain the advantageous financing.”
KEY TRENDS
< 0.0% 0.0% to 1.9% 2.0% to 3.9%
+2%
4.0% to 5.9%
10/1993 to 12/1994
01/1996 to 11/1996
10/1995 to 05/2005
06/2003 to 06/2004
06/2006 to 07/2006
11/2012 to 12/2013
+2.38%
+1.20%
+1.81%
+1.06%
+1.18%
+1.11%
*SEASONALLY ADJUSTED RATE BETWEEN START AND END DATES
HI 3.9%
> 6.0%
THE STATE
Our Portfolio of Fine Homes in Wexford
of the Wexford Real Estate Market
April 2018
KEY METRICS
First Quarter of 2018 in Review
In Wexford Plantation, four homes closed in the first quarter of 2018, compared to the five homes which closed during the same period last year. So far, in the first three months of 2018, the total dollar volume was $3,675,000, down compared to $5,804,500 in 2017. Supply and demand: as of April 2nd, 2018, there are 32 Wexford homes listed for sale with an average of 1.33 homes selling per month over the last six months. That translates into a 24.06-month supply, considered by industry experts to be a very strong buyer’s market. There are five homes under contract in Wexford.
4
$832,500
95.30%
464
Total Sales
Median Price
Sale to List Price
Median Days on Market
Hilton Head Island Real Estate Market Overview ACTIVE LISTINGS ON HILTON HEAD ISLAND
636 A Singular Property Sequestered in the premier harbor setting of a private golf club community, this spectacular property makes a captivating statement throughout. The impressive street presence, enhanced by circular-drive drama on an expansive home site, sets the stage for this wonderfully designed home. Lush landscaping and cul-de-sac privacy add further appeal. The engaging open floor plan masterfully couples soaring ceilings with endless glass creating a sunlit ambiance on the mesmerizing 180° golf vista. A premium view. Updated throughout and featuring an enduring architectural style, this upscale, yet understated, spacious home shows like a model perfectly fitting our envied island lifestyle. It showcases beautiful baths: lovely granite; stainless steel appliances; gleaming hardwood; stone; designer tile; great master suite; private covered guest-deck. Nestled in the seclusion afforded by a spectacular view, the dramatic pool and multi-level deck setting, complete with pool bath, crowns this exceptional property. How could it get any better? It actually does as this boater’s dream is located just a stone’s throw from the famous beaches of Hilton Head Island. 48 Bridgetown Road, Wexford 4 Bedrooms | 5.5 Bathrooms | 3,815 Htd. SqFt | $899,000 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
How’s the Hilton Head Island Real Estate Market Doing?
YTD Hilton Head Island Home Sales YTD Through March 31 for Each Year
Year
Number of Homes Sold
Median Price
2013
149
$470,000
2014
169
$485,000
2015
181
$531,000
2016
183
$500,000
2017
177
$520,000
2018
211
$532,000
In 2018 the Hilton Head Island housing market enjoyed its best first quarter in 13 years, according to statistics from the Hilton Head Area Multiple Listing Service. As you can see from the chart to the left, the number of sales in the first quarter are up to 211, a 19% increase from 2017. The median price is also up, 2.2% above the 2017 first quarter median price, but is still 28% 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 April 4, 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.