WEEKLY MARKET PULSE
by Chris Sanders, Client Market Advisor
May 26, 2015
Collins Group Realty is pleased to provide you with this week’s edition of Market Pulse; a quick overview identifying a few of the local real estate “highlights”, in an effort to bring your attention to some of what specifically hit our market activity radar last week…
- HOTSHEET SUMMARY FROM THE PRIOR WEEK:
LISTINGS: 171 listings were added to our local markets last week.
CONTRACTS: 134 residential properties moved to pending or contingent status.
SALES: 75 closed sales were reported last week.
- Buyers were out with their pens and checkbooks in the days leading up to Memorial Day!!! Contingent and pending sales spiked last week with a 21% increase over the preceding week. This surge in ratified sales contracts was led by activity in the Bluffton area markets.
- 60% of the pending sales last week came off Bluffton area listings.
- 87% of these pending / contingent Bluffton sales were priced under $400,000.
- Approximately half of the pending sales last week were listed less than 60 days.
- Pending villa sales on Hilton Head increased 23% over the prior week with 27 ratified contracts, including 10 villa listings priced over $300,000.
- 9 unimproved lots pended last week, including several homesites that have been on the market for quite some time:
- Two lots at the end of Kirby Lane overlooking Jarvis Creek (rural Hilton Head Island) sold together after almost 9 months on the market.
- Two Hampton Hall lots pended last week, one of which finally selling after 2 years on the market.
- A half-acre lot on the golf side of Rose Hill pended last week after more than 8 years on the market.
- Ironically it only took 13 days to pull in a buyer for a 6.8 acre home site in the historical area of Daufuskie Island.
- And finally, we are pleased to report a few notable high dollar sales that have recently closed, including:
- 131 Fort Walker Drive that sold for $2,140,000! This was a Collins Group listing that sold for more than the 2011 sale. Great new data point for the Port Royal market!
- 11 Cassina Lane (oceanfront in South Forest Beach), selling for $1,850,000.
- 28 Baynard Cove Road in Sea Pines at $1,617,000.
- 65 Bridgetown Road (on the Wexford harbor) at $1,225,000.
As always, thank you for choosing Collins Group Realty as your local real estate resource. Our team of professionals is available for you 24/7, and we are always honored and appreciative when we receive your referrals. Please call us anytime we can be of service or research a specific property or area just for YOU!
Hilton Head: 843-341-6300 Bluffton: 843-837-6700 World: http://www.CollinsGroupRealty.com
Primary Data source: Hilton Head MLS (DATA IS BELIEVED TO BE ACCURATE BUT IS NOT GUARANTEED)