WEEKLY MARKET PULSE
by Chris Sanders, Client Market Advisor
April 6, 2015
Collins Group Realty is pleased to provide you with this week’s edition of Market Pulse; a quick summary identifying a few of the local real estate “highlights” and trends, in an effort to bring your attention to some of what specifically caught our attention last week.
- Year to date; the first week of April 2015 had the highest number of listings added to the market in a single week. This was due (in part) to a surge of Hilton Head Island villa listings as well an increased number of Bluffton lot listings. The assortment of new listings came to market in a mixed variety, including;
- 10 Sea Pines homes listed for sale last week; 70% of these listings priced over $1,000,000.
- A block of 10 villas listed in The Oaks, all priced below $70,000.
- 10 Shipyard villas listed in the $200,000 to $350,000 price range.
- 11 Palmetto Dunes villas listed in the $300,000 to $750,000 price range.
- 7 lots listed in Hampton Lake; 6 of which being a developer package release with a builder/buyer in hand (1 DOM).
- Although not a record setting week, closed sales activity was solid once again with 68 sales reported last week in the MLS.
- It was the third strongest (single) week for closed residential sales (YTD) in 2015.
- The “Off Plantation” Bluffton markets represented a third of the reported area home sales.
- 88% of the villa sales were on Hilton Head, most of which being beach oriented.
- 112 pending and contingent sales were reported in the MLS last week (73 homes, 20 villas and 19 lots).
- Sea Pines and Hilton Head Plantation led this category with 9 and 7 ratified contracts respectively.
- Forest Beach, Palmetto Dunes, Hampton Hall and Heritage at New Riverside each had 4 contracts reported last week.
- Three different Stable Gate homes in Moss Creek all pended in the same week.
- A home in Ashton Cove was placed under contract after just 3 days!
- Middleton Place had a listing move to contingent status in less than a week.
- And after nearly 2 years on the market, an oceanfront Singleton Beach home pulled in a buyer!
As was the case last year, the 2015 real estate market in the Low Country continues to have multiple identities. Some neighborhoods have limited inventory with demand putting upward pressure on prices, while other areas have just the opposite scenario stalling market recovery. Collins Group Realty will continue to monitor and track all of our local markets, so please call us anytime we can research a specific property or market segment just for YOU! Thank you for choosing Collins Group Realty as your local real estate resource.
Hilton Head: 843-341-6300 Bluffton: 843-837-6700
Primary Data source: Hilton Head MLS (DATA IS BELIEVED TO BE ACCURATE BUT IS NOT GUARANTEED)