WEEKLY MARKET PULSE
by Chris Sanders, Client Market Advisor
February 16, 2015
Collins Group Realty is pleased to provide you with this week’s edition of Market Pulse; a quick snapshot summary identifying a few of the local real estate “highlights”, in an effort to bring your attention to some of what specifically caught our attention last week.
- Buyers appear to be responding well right now to the “new listings” in many of our area markets. Last week alone, 41% of the homes and 39% of the villas placed under contract were on the market for LESS than 30 days!
- The luxury markets (listings over $1,000,000) added 14 homes into the inventory mix last week. Interestingly however, 80% of these “new” listings were actually re-listed properties as opposed to first time listings. It appears that a good number of sellers are taking advantage of a new opportunity to re-list these high-end properties amongst a more optimistic market climate.
- Momentum within our local real estate markets continued into the fifth straight week, with sales contracts reported for 94 residential properties (homes, villas and lots) in just the past 7 days! Coming off three straight weeks with over 100 ratified contracts, the cumulative 2015 (pending sale) unit volume is notably better than the last two months of 2014. Buyers however remain quite cognizant of market prices and tend to focus on listings considered “in-line” with recent activity.
- Considering all the local markets represented in our MLS, the number of (home) listings remained fairly constant for the fifth consecutive week. The villa market on the other hand had somewhat of a different week with a surge of new listings reported (47). It appears as if more sellers are beginning to emerge in order to catch the wave of springtime villa buyers. Among the most compelling of the new listings last week, was (of course) Collins Group Realty’s introduction of 202 Turtle Lane Club at $1,595,000! Click here for more details!
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 office: 843-341-6300
Bluffton office: 843-837-6700
Visit our website: http://www.CollinsGroupRealty.com
Primary Data source: Hilton Head MLS (DATA IS BELIEVED TO BE ACCURATE BUT IS NOT GUARANTEED)