WEEKLY MARKET PULSE
by Chris Sanders, Client Market Advisor
March 23, 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.
HOME MARKETS: We saw another active week for single family home listings, but the overall housing supply did creep up just a bit…
- 120 homes were brought to market last week; 42 on the Island and 78 off the Island.
- 68 pending or contingent sales were reported on top of 35 closed sales.
- 71% of last week’s off Island listings were priced UNDER $350,000.
- 93% of last week’s Hilton Head listings were priced OVER $350,000.
- Interestingly, we saw a few homes sell last week OVER list price; including a renovated home in Hilton Head Plantation that sold over asking price after only 3 days on the market.
VILLA MARKETS: Compared to the prior week, fewer villas came on the market during the past 7 days; however the number of pending villa sales held strong for the third consecutive week, with 29 ratified villa contracts reported.
- Currently the majority of pending villa sales are concentrated in the Forest Beach area, and last week 6 more Forest Beach (villa) listings went under contract.
- Many Bluffton condominium developments continue to be in high demand amongst limited inventory. Areas such as Bridgepointe Condominiums, Plantation Point and the Reserve at Woodbridge are some of the hottest areas. The average sale price to list price in these specific markets is 98% and HALF of the sales in these developments sold at or OVER full asking price.
LOT MARKETS: The majority of new (lot) listings last week were in the Bluffton markets, while only moderate sales activity was reported.
- Almost a third of the pending lot sales reported into the MLS last week were on Daufuskie Island.
- One of the few remaining Point Comfort Plantation lots (Hilton Head Island) closed last week; 7 Nautilas Road sold for $275,000.
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
Primary Data source: Hilton Head MLS (DATA IS BELIEVED TO BE ACCURATE BUT IS NOT GUARANTEED)