WEEKLY MARKET PULSE
by Chris Sanders, Client Market Advisor
February 2, 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.
Whether you were prepared or not prepared, January 2015 is now a memory and we witnessed some SOLID real estate activity worthy of reporting. Market data that begins to paint an optimistic picture, and consistent with the 2015 outlook in our State of the Market publication.
- VILLA sales began the year strong! When January 2014 is compared against January 2015;
- The number of villa sales INCREASED by 20%
- The median sale price last month was 30% higher and the average sale price was 26% higher than reported in January 2014.
- The “high” villa sale reported last month JUMPED from $699,000 to $795,000.
- And lastly… January 2015 TRUMPED January 2014 with far more villa sales OVER $300,000.
- January 2015 did not yield quite as many home sales, yet prices last month did notably BEAT what was reported in January 2014;
- The median sale price on Hilton Head Island last month was 9% higher, while the average sale price was 6% higher than reported in January 2014.
- The median sale price OFF ISLAND last month was 28% higher than January 2014, while the average (home) sale price off island was a WHOPPING 50% higher (due in part to 2 Palmetto Bluff sales in January 2015 totaling $7,000,000.)
- The number of January 2015 LOT sales may not have been as robust as the prior year; however, both the median and average sales price for an unimproved residential home site INCREASED when January 2015 is compared against January 2014, see below;
- January 2014: 50 sales. Median sale price $56,500 / Average sale price $91,617
- January 2015: 27 sales. Median sale price $75,000 / Average sale price $158,900
- LAST WEEK’S MLS STATS (01/26/2015 – 02/01/2015)
- 146 new listings (80 homes / 32 villas / 34 lots)
- 111 pending sales (90 homes / 17 villas / 4 lots)
- 49 closed sales (33 homes / 7 villas / 9 lots)
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 www.collinsgrouprealty.com
Primary Data source: Hilton Head MLS (DATA IS BELIEVED TO BE ACCURATE BUT IS NOT GUARANTEED)