WEEKLY MARKET PULSE
by Chris Sanders, Client Market Advisor
April 28, 2015
Collins Group Realty is pleased to provide you with this week’s edition of Market Pulse; a quick overview identifying a few of local real estate “highlights”, in an effort to bring your attention to some of what specifically caught our attention last week.
LISTING INVENTORY: 126 new residential listings added to local markets during the past week.
RATIFIED CONTRACTS: 122 residential properties went to pending or contingent status last week.
CLOSED SALES: 68 residential properties closed last week, the majority (50) being single family homes.
QUICK OBSERVATIONS from last week…
It was a SOLID week for some of our luxury markets, with a significant number of high priced inventory movement reported.
• A ratified contract came in on a $4,799,000 oceanfront home in Palmetto Dunes. A CGR listing!
• A ratified contract also came in on $3,850,000 beach house in Sea Pines. Another CGR listing!
• After just 7 days on the market, a $1,349,000 golf oriented listing in Leamington went pending.
• Oldfield hit the radar last week with a pending sale on a $1,240,000 listing.
• A $2,790,000 oceanfront home in North Forest Beach CLOSED after almost 2 years on the market.
• A high end Hilton Head Plantation CLOSED at $1,175,000 after a year on the market.
• A new Wexford townhome overlooking Broad Creek CLOSED at $1,174,000 after only 3 months!
• A 5th row Port Royal home CLOSED at $1,100,000.
• A golf oriented home in Colleton River CLOSED at $980,000.
Villa activity continues…
• 13 villas closed last week, including a 2 bedroom Seascape (South Forest Beach) that sold for full price after just 3 days on the market.
• 20 villa listings moved to pending or contingent status last week, including a two bedroom villa
in The Colony at The Crescent that pended in just 41 days! A CGR listing.
• Only 28 villa listings came on the market last week, most (24) being in the Hilton Head markets.
Hampton Lake’s big announcement last week was the release of the new “Phase 3” expansion.
• Horizontal infrastructure appears to be underway.
• 135 new homesites have been platted out; views of the lake, wooded wetlands and interior lots.
• Initial pricing for these new lots is between $94,900 and $199,900.
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!
Primary Data source: Hilton Head MLS (DATA IS BELIEVED TO BE ACCURATE BUT IS NOT GUARANTEED)