There are all kinds of mixed messages floating around in the news about real estate. Some people wonder if we’re nearing another recession or housing bubble. Others report a continuous rise in the number of pending sales or maybe even that we don’t have enough new construction. It’s important, too, to realize how different the Hilton Head market can be in comparison to the rest of the US. And taking it even further, how different the market can be even just from one community to another.
So we thought it might be helpful to weigh in on what we think will steer the 2019 real estate market right here in the Hilton Head / Bluffton area. We’ll share a few each week throughout the month of March. Contact us if you have questions or would like to discuss these ideas further.
Downsizing…
This trend is in full-swing across a surprisingly broad age range as the merits of efficient, less-maintenance living are being realized by empty-nesters and retirees ages 50 and up. For many, it’s the most critical move of their lives, and we expect to see this drive a high volume of transactions in the 2019 marketplace.
Condition, Condition, Condition…
While HGTV has shown the way to creative renovation trends, many buyers in the Lowcountry market seem to be hesitant to take on a large renovation project. As such, properties that are new, newer, or recently renovated are capturing a lot of buyer attention, often commanding a premium in pricing. Likewise, properties that are in need of varying levels of updating could require a thoughtful strategy regarding condition and pricing in order to navigate the marketing and sale process successfully.
Listing Volume…
Look for 2019 to be a robust year for new listings to hit the market due to overall improved market conditions, an increase in local-moves, as well as an uptick in retirees relocating out of the area to be closer to family, avoid storm-related hassles, etc.
Check back here next Friday for a few more…
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