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    CGR Weekly Market Pulse – March 17, 2015

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    WEEKLY MARKET PULSE
    by Chris Sanders, Client Market Advisor
    March 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.

    • Over 100 properties went under contract for the 4th consecutive week. Leading the way with the most reported activity was;
      • Sea Pines: 8 homes went under contract, half being Club Course area listings.
      • Forest Beach: 7 pending villas reported, all being listings under $265,000.
      • Palmetto Dunes: 6 pending villas reported, half being Queens Grant listings.
      • Hilton Head Plantation: 5 pending homes reported, and 80% were priced under $450,000.
      • Sun City: 12 pending homes reported, with 75% selling in less than 90 days!

     

    • We witnessed another high volume listing week with 175 properties added to the local real estate marketplace, and Sea Pines represented the highest overall percentage. Last week, Sea Pines alone added 20 new listings to the market (11 homes, 8 villas and 1 lot). 
      • Sea Pines now has a 9 month supply of single family housing inventory.
      • However, there is just a 4 month supply of inventory in the Club Course area.
      • The most active price bracket in Sea Pines is still the $500,000 – $750,000 category, accounting for a third of the past year’s sales.

     

    • There was also some dirt to move last week, with 10 pending single family lot sales reported;
      • Half of the lots that pended last week were on Hilton Head, with the other half scattered all over Southern Beaufort County; specifically, Old Town Bluffton, Colleton River, Palmetto Bluff, Oldfield and Callawassie Island.
      • The pending lot sales on the island were also a bit spread out. Contracts were ratified for lots in Long Cove, Hilton Head Plantation, Oakview, Graham Lane and Bermuda Point!
      • 60% of the lots that went under contract last week were on the market for over 200 days, indicating that the market is starting to absorb some long-standing inventory.

     

    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)

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