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    CGR Weekly Market Pulse – January 26, 2015

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    WEEKLY MARKET PULSE
    by Chris Sanders, Client Market Advisor
    January 26, 2015

    Collins Group Realty is pleased to provide you with this week’s edition of Market Pulse; a “brief” report that identifies a few of the local real estate “highlights” from the prior week, in an effort to bring your attention to some of what specifically caught our attention.

    2015 has started off quite active, and fortunately we are seeing pending and closed sales essentially keep pace with new listing inventory.  In general, we have a fairly balanced local marketplace; with a 7.54 month supply of homes for sale on the island and a 4.95 month supply of homes for sale off the island.  Below is a snap shot from last week’s activity;

    • LISTING INVENTORY: 135 new residential listings were added to the market last week.
      • This is the fourth consecutive week with an increasing number of new listings, as sellers seem to be positioning for the upcoming spring.
      • 57 new listings were reported on Hilton Head Island last week; 28 homes, 24 villas and 5 lots.
      • 78 new listings were reported “off island” last week; 60 homes, 3 villas and 15 lots
      • Only 2% of the listings added last week were “REO” (bank owned) properties.

     

    • PENDING SALES: 103 sales contracts were ratified last week.
      • This is the fourth consecutive week with an increasing number of pending sales.
      • Hilton Head had 49 properties go under contract; homes (26), villas (21) and lots (2).
      • The Greater Bluffton area reported 44 contracts; homes (36), villas (0) and lots (8).
      • There were an additional 10 contracts ratified last week outside of Beaufort County, and reported in our local MLS (from the Jasper, Hampton and Ridgeland markets).

     

    • CLOSED SALES: 40 properties closed during the past 7 days.
      • The average sale price on Hilton Head last week was $656,934 (homes).
      • The average sale price off island last week was $195,671 (homes).
      • The average sale price for a “villa” last week was $241,136, and 74% of the villa sales were on listings from the under $250,000 price category.

     

    Lastly, we hope you will take a glance at the CGR 2014/2015 Market Report that is “hot off the press”!  It offers a full recap of 2014, including great data/graphs, plus our thoughts/outlook on 2015…enjoy!

    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!  843-341-6300.   www.collinsgrouprealty.com

    Primary Data source: Hilton Head MLS (DATA IS BELIEVED TO BE ACCURATE BUT IS NOT GUARANTEED)

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