THE STATE
Our international reach finds buyers.
of the Wexford Real Estate Market
September 2018
KEY METRICS
First Eight Months of 2018 in Review
In Wexford, 18 homes closed in the first eight months of 2018, compared to 14 homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $24,132,500, up compared to $16,797,600 during the same period last year. Supply and demand: as of September 1st, 2018, there are 33 Wexford homes listed for sale with an average of 2.3 homes selling per month over the last eight months. That translates into a 14.3-month supply, considered by industry experts to be a strong buyer’s market. There are three homes under contract in Wexford and there are currently 27 lots for sale. Four lots have sold in the last eight months and none are under contract.
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.
18
$1,335,000
94.63%
176
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.
609
• 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 August 31 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
556
$490,000
2014
548
$500,000
2015
602
$525,000
2016
593
$519,000
2017
620
$545,000
2018
722
$545,000
In 2018 the Hilton Head Island housing market enjoyed its best first eight months 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 first eight months home sales in 2018 are up to 722, a rather significant 16% increase from 2017. Home prices held steady at a median price of $545,000, the same as in 2017—both are at the highest we’ve seen in nine years since the Great Recession caused values to plummet. The median price of homes selling in the US is at its highest ever. With increasing demand 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 September 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
Definitions for Listings
2018 Home Sales at an All-Time High! Best 1st Half For Home Sales...Ever!
Active - On the Market Pending - Under Contract Sold - Closed Between May 1, 2018 and August 31, 2018
2011 1656
1585
1426
1284
1315
1135
1032
886
679
998
852
500
1115
1500 1332
Number of Homes Sold
2000
0 18 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 20 06 20 05 20
First Half of Each Year
Median Price of Homes Sold Each Year
Median Price of Homes Sold Each Year
$500,000$500,000 $440,000
$440,000
$419.000
$400,000$400,000
$419.000
$395,000
$331,000
$300,000$300,000
FOOD FOR THOUGHT
$395,000
$330,000
$331,000
home prices continue to rise across the country...with expectations for continued economic growth and further employment gains, the current run of rising prices is likely to continue.
$345,000 $330,000 $345,000
$323,000 $323,000 $260,000 $300,000 $260,000 $300,000 $278,000 $281,000 $278,000 $265,000 $281,000 $262,000 $265,000 $256,000 $262,000 $256,000
david m. blitzer, managing DIRECTOR & Chairman index committee s&p dow jones indices
$200,000 $200,000
Because of the sustained improvement of the last nine 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 just the first half of 2018 was 4.5% over 2017. If the rapid pace of sales continue, we could see an annualized appreciation rate in the neighborhood of 5%. The good news is that homes are still bargain-priced at 22% below the Pre-Recession peak set in 2005. Avoid paying more next year! Those wanting to own real estate in the Hilton Head Island - Bluffton area may want to seriously consider buying now. If the appreciation rate hits 5% this year, the extra cost of waiting a year to buy a $500,000 home would be $25,000.
KEY TRENDS
The Cost Across Time: Average Interest Rate and Mortgage Payment Source: Freddie Mac
70’s
80’s
90’s
2000’s
8.86% $1,986
12.7% $2,707
8.12% $1,855
6.29% $1,546
KEY TRENDS
Source: Hilton Head Multiple Listing Service
2500
1000
Source: Hilton Head Multiple Listing Service MedianofPrices ofSold Homes Sold Median Prices Homes Hilton Head Island/Bluffton 1st Half Hilton Head Island/Bluffton 2005-2018 2005-2018 1st Half
18 20 17 20 1618 20 0 2 1517 2020 6 1041 202 1315 20 0 2 1214 2020 1113 2020 1012 2020 0911 2020 0810 20 0 2 0709 20 0 2 0608 20 0 2 0507 2020 06
Harbor Harbor Deep Water, Harbor Golf Deep Water, Harbor Golf, Marsh Harbor Deep Water, Harbor Deep Water, Marsh Golf, Pool Harbor Harbor Golf Marsh, River Deep Water Golf, Lagoon Harbor, Pool Golf, Landscape Golf Golf Lagoon, Marsh Golf, Lagoon Golf, Wooded Lagoon Golf Marsh Golf, Wooded Harbor Harbor Golf, Marsh Golf, Marsh Golf Golf, Harbor Harbor Deep Water, Harbor Golf Harbor Golf, Harbor Harbor Deep Water, Harbor Deep Water, Harbor Golf, River Deep Water, Harbor Golf Golf, Lagoon Golf Golf Deep Water, Marsh Harbor, Landscape
KEY TRENDS
20
VIEW
38 Castlebridge Lane 5 Plumbridge Lane 22 Castlebridge Court 60 Wicklow Drive 65 Bridgetown Road 60 Yorkshire Drive 21 Plumbridge Lane 9 Cambridge Circle 56 Yorkshire Drive 54 Wicklow Drive 10 Castlebridge Court 12 Castlebridge Court 11 Harrogate Drive 11 Fairfax Lane 22 Wexford On The Green 28 Yorkshire Drive 9 Wexford on the Green 42 Bridgetown Road 18 Harrogate Drive 8 Bridgetown Road 19 Coventry Lane 9 Wexford Club Drive 6 Oxford Drive 31 Oxford Drive 34 Bridgetown Road 2 Coventry Lane 29 Harrogate Drive 10 Wexford On The Green 40 Wexford Club Drive 57 Wexford On The Green 45 Wexford On The Green 11 Yorkshire Drive 13 Wexford On The Green 8 Wexford Club Drive 27 Bridgetown Road 33 Wexford Club Drive 22 Plumbridge Lane 19 Knightsbridge Lane 18 Plumbridge Lane 13 Bridgetown Road 19 Bridgetown Road 52 Yorkshire Drive 2 Wexford On The Green 22 Wexford Drive 23 Wexford Drive 10 Bridgetown Road 30 Wexford Drive 20 Wexford On The Green 15 Wexford On The Green
05
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 Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
Home Prices Are on Their Way Up! Up 4.5% in Just the First Six Months of 2018.
20
STATUS
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 4 6 1 8,296 1988 $3,800,000 --6 8 1 6,401 2008 $2,679,000 --4 5 1 6,012 2001 $1,949,999 --6 8 2 8,346 2004 $1,945,000 --4 7 1 4,456 1986 $1,900,000 --4 5 0 4,579 2006 $1,895,000 --4 7 3 4,762 1986 $1,878,000 --4 5 1 5,300 1991 $1,875,000 --5 7 1 7,111 2000 $1,795,000 --5 6 1 5,500 2002 $1,700,000 --3 4 1 4,218 1998 $1,579,000 --5 6 1 5,182 2003 $1,550,000 --5 7 1 6,791 2006 $1,549,000 --6 6 0 5,375 2004 $1,350,000 --7 8 1 8,465 2007 $1,224,000 --4 5 1 3,851 1993 $1,195,000 --4 4 1 3,824 2007 $979,000 --5 6 2 4,404 1995 $974,000 --4 4 1 4,750 2005 $949,000 --5 6 1 4,575 1987 $899,000 --4 6 1 4,115 2006 $790,000 --4 5 1 3,555 2001 $789,000 --3 4 1 3,860 1991 $749,900 --5 6 1 4,921 1996 $749,000 --4 6 1 5,276 1991 $729,000 --3 4 1 2,742 2001 $725,000 --3 5 1 3,225 1989 $699,000 --3 5 2 2,600 1990 $689,000 --5 5 1 4,704 1983 $665,000 --4 5 1 3,283 2006 $599,000 --3 6 2 3,214 2007 $599,000 --3 4 1 3,150 1985 $599,000 --3 4 1 2,101 2000 $389,990 --3 5 2 3,519 2000 $1,099,000 --4 5 1 5,010 1986 $1,095,000 --4 5 1 4,150 2001 $979,500 --5 7 1 7,572 2002 $2,800,000 $2,800,000 5 6 1 5,752 2015 $2,395,000 $2,350,000 5 6 1 6,010 2000 $2,100,000 $2,065,000 $1,825,000 4 5 1 4,400 1987 $1,995,000 4 5 1 4,270 1986 $1,995,000 $1,995,000 5 6 1 5,696 1995 $1,749,000 $1,700,000 4 6 1 6,366 2002 $1,690,000 $1,550,000 5 5 1 5,752 2006 $1,595,000 $1,500,000 4 7 2 6,286 2005 $1,295,000 $1,225,000 5 6 1 4,606 2006 $1,095,000 $975,000 4 5 1 4,682 1993 $799,000 $755,000 4 5 1 3,526 1994 $675,000 $642,500 3 4 1 3,297 2000 $559,000 $520,000
Home sales in the Hilton Head Island-Bluffton area in the first half of 2018 were the best ever according to historical MLS records. As depicted in the chart to the left, 2,011 homes sold in the first half of 2018 far surpassing the pre-recession peak year of 2005. We are not aware of any markets in the US that have experienced a record-setting first half.
TODAY 4.55% $1,274
Even with the projection that Interest Rates will increase by a half a point in the next 12 months, we are still well below historic numbers!
Lock in a low rate now! The average 30-year fixed mortgage rates and the approximate payment for a $250,000 mortgage. Payments are principal and interest only based on a $250,000 fully amoritizing mortgage.
Wexford Home Listings
Definitions for Listings
2018 Home Sales at an All-Time High! Best 1st Half For Home Sales...Ever!
Active - On the Market Pending - Under Contract Sold - Closed Between May 1, 2018 and August 31, 2018
2011 1656
1585
1426
1284
1315
1135
1032
886
679
998
852
500
1115
1500 1332
Number of Homes Sold
2000
0 18 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 20 06 20 05 20
First Half of Each Year
Median Price of Homes Sold Each Year
Median Price of Homes Sold Each Year
$500,000$500,000 $440,000
$440,000
$419.000
$400,000$400,000
$419.000
$395,000
$331,000
$300,000$300,000
FOOD FOR THOUGHT
$395,000
$330,000
$331,000
home prices continue to rise across the country...with expectations for continued economic growth and further employment gains, the current run of rising prices is likely to continue.
$345,000 $330,000 $345,000
$323,000 $323,000 $260,000 $300,000 $260,000 $300,000 $278,000 $281,000 $278,000 $265,000 $281,000 $262,000 $265,000 $256,000 $262,000 $256,000
david m. blitzer, managing DIRECTOR & Chairman index committee s&p dow jones indices
$200,000 $200,000
Because of the sustained improvement of the last nine 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 just the first half of 2018 was 4.5% over 2017. If the rapid pace of sales continue, we could see an annualized appreciation rate in the neighborhood of 5%. The good news is that homes are still bargain-priced at 22% below the Pre-Recession peak set in 2005. Avoid paying more next year! Those wanting to own real estate in the Hilton Head Island - Bluffton area may want to seriously consider buying now. If the appreciation rate hits 5% this year, the extra cost of waiting a year to buy a $500,000 home would be $25,000.
KEY TRENDS
The Cost Across Time: Average Interest Rate and Mortgage Payment Source: Freddie Mac
70’s
80’s
90’s
2000’s
8.86% $1,986
12.7% $2,707
8.12% $1,855
6.29% $1,546
KEY TRENDS
Source: Hilton Head Multiple Listing Service
2500
1000
Source: Hilton Head Multiple Listing Service MedianofPrices ofSold Homes Sold Median Prices Homes Hilton Head Island/Bluffton 1st Half Hilton Head Island/Bluffton 2005-2018 2005-2018 1st Half
18 20 17 20 1618 20 0 2 1517 2020 6 1041 202 1315 20 0 2 1214 2020 1113 2020 1012 2020 0911 2020 0810 20 0 2 0709 20 0 2 0608 20 0 2 0507 2020 06
Harbor Harbor Deep Water, Harbor Golf Deep Water, Harbor Golf, Marsh Harbor Deep Water, Harbor Deep Water, Marsh Golf, Pool Harbor Harbor Golf Marsh, River Deep Water Golf, Lagoon Harbor, Pool Golf, Landscape Golf Golf Lagoon, Marsh Golf, Lagoon Golf, Wooded Lagoon Golf Marsh Golf, Wooded Harbor Harbor Golf, Marsh Golf, Marsh Golf Golf, Harbor Harbor Deep Water, Harbor Golf Harbor Golf, Harbor Harbor Deep Water, Harbor Deep Water, Harbor Golf, River Deep Water, Harbor Golf Golf, Lagoon Golf Golf Deep Water, Marsh Harbor, Landscape
KEY TRENDS
20
VIEW
38 Castlebridge Lane 5 Plumbridge Lane 22 Castlebridge Court 60 Wicklow Drive 65 Bridgetown Road 60 Yorkshire Drive 21 Plumbridge Lane 9 Cambridge Circle 56 Yorkshire Drive 54 Wicklow Drive 10 Castlebridge Court 12 Castlebridge Court 11 Harrogate Drive 11 Fairfax Lane 22 Wexford On The Green 28 Yorkshire Drive 9 Wexford on the Green 42 Bridgetown Road 18 Harrogate Drive 8 Bridgetown Road 19 Coventry Lane 9 Wexford Club Drive 6 Oxford Drive 31 Oxford Drive 34 Bridgetown Road 2 Coventry Lane 29 Harrogate Drive 10 Wexford On The Green 40 Wexford Club Drive 57 Wexford On The Green 45 Wexford On The Green 11 Yorkshire Drive 13 Wexford On The Green 8 Wexford Club Drive 27 Bridgetown Road 33 Wexford Club Drive 22 Plumbridge Lane 19 Knightsbridge Lane 18 Plumbridge Lane 13 Bridgetown Road 19 Bridgetown Road 52 Yorkshire Drive 2 Wexford On The Green 22 Wexford Drive 23 Wexford Drive 10 Bridgetown Road 30 Wexford Drive 20 Wexford On The Green 15 Wexford On The Green
05
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 Pending Pending Pending Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
Home Prices Are on Their Way Up! Up 4.5% in Just the First Six Months of 2018.
20
STATUS
TOTAL APPROX. YEAR FULL BATHS HALF BATHS LIST PRICE CLOSE PRICE BEDROOMS SQ. FOOTAGE BUILT 4 6 1 8,296 1988 $3,800,000 --6 8 1 6,401 2008 $2,679,000 --4 5 1 6,012 2001 $1,949,999 --6 8 2 8,346 2004 $1,945,000 --4 7 1 4,456 1986 $1,900,000 --4 5 0 4,579 2006 $1,895,000 --4 7 3 4,762 1986 $1,878,000 --4 5 1 5,300 1991 $1,875,000 --5 7 1 7,111 2000 $1,795,000 --5 6 1 5,500 2002 $1,700,000 --3 4 1 4,218 1998 $1,579,000 --5 6 1 5,182 2003 $1,550,000 --5 7 1 6,791 2006 $1,549,000 --6 6 0 5,375 2004 $1,350,000 --7 8 1 8,465 2007 $1,224,000 --4 5 1 3,851 1993 $1,195,000 --4 4 1 3,824 2007 $979,000 --5 6 2 4,404 1995 $974,000 --4 4 1 4,750 2005 $949,000 --5 6 1 4,575 1987 $899,000 --4 6 1 4,115 2006 $790,000 --4 5 1 3,555 2001 $789,000 --3 4 1 3,860 1991 $749,900 --5 6 1 4,921 1996 $749,000 --4 6 1 5,276 1991 $729,000 --3 4 1 2,742 2001 $725,000 --3 5 1 3,225 1989 $699,000 --3 5 2 2,600 1990 $689,000 --5 5 1 4,704 1983 $665,000 --4 5 1 3,283 2006 $599,000 --3 6 2 3,214 2007 $599,000 --3 4 1 3,150 1985 $599,000 --3 4 1 2,101 2000 $389,990 --3 5 2 3,519 2000 $1,099,000 --4 5 1 5,010 1986 $1,095,000 --4 5 1 4,150 2001 $979,500 --5 7 1 7,572 2002 $2,800,000 $2,800,000 5 6 1 5,752 2015 $2,395,000 $2,350,000 5 6 1 6,010 2000 $2,100,000 $2,065,000 $1,825,000 4 5 1 4,400 1987 $1,995,000 4 5 1 4,270 1986 $1,995,000 $1,995,000 5 6 1 5,696 1995 $1,749,000 $1,700,000 4 6 1 6,366 2002 $1,690,000 $1,550,000 5 5 1 5,752 2006 $1,595,000 $1,500,000 4 7 2 6,286 2005 $1,295,000 $1,225,000 5 6 1 4,606 2006 $1,095,000 $975,000 4 5 1 4,682 1993 $799,000 $755,000 4 5 1 3,526 1994 $675,000 $642,500 3 4 1 3,297 2000 $559,000 $520,000
Home sales in the Hilton Head Island-Bluffton area in the first half of 2018 were the best ever according to historical MLS records. As depicted in the chart to the left, 2,011 homes sold in the first half of 2018 far surpassing the pre-recession peak year of 2005. We are not aware of any markets in the US that have experienced a record-setting first half.
TODAY 4.55% $1,274
Even with the projection that Interest Rates will increase by a half a point in the next 12 months, we are still well below historic numbers!
Lock in a low rate now! The average 30-year fixed mortgage rates and the approximate payment for a $250,000 mortgage. Payments are principal and interest only based on a $250,000 fully amoritizing mortgage.
THE STATE
Our international reach finds buyers.
of the Wexford Real Estate Market
September 2018
KEY METRICS
First Eight Months of 2018 in Review
In Wexford, 18 homes closed in the first eight months of 2018, compared to 14 homes which closed during the same period in 2017. So far in 2018, the total dollar volume was $24,132,500, up compared to $16,797,600 during the same period last year. Supply and demand: as of September 1st, 2018, there are 33 Wexford homes listed for sale with an average of 2.3 homes selling per month over the last eight months. That translates into a 14.3-month supply, considered by industry experts to be a strong buyer’s market. There are three homes under contract in Wexford and there are currently 27 lots for sale. Four lots have sold in the last eight months and none are under contract.
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.
18
$1,335,000
94.63%
176
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.
609
• 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 August 31 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
556
$490,000
2014
548
$500,000
2015
602
$525,000
2016
593
$519,000
2017
620
$545,000
2018
722
$545,000
In 2018 the Hilton Head Island housing market enjoyed its best first eight months 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 first eight months home sales in 2018 are up to 722, a rather significant 16% increase from 2017. Home prices held steady at a median price of $545,000, the same as in 2017—both are at the highest we’ve seen in nine years since the Great Recession caused values to plummet. The median price of homes selling in the US is at its highest ever. With increasing demand 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 September 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.