WEEKLY MARKET PULSE
by Chris Sanders, Client Market Advisor
March 9, 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.
- Area real estate priced over $1,000,000 saw solid activity last week with 4 closed sales, 8 pending or contingent sales and 15 listings added at this particular pricing tier. Homes, lots and villas all had million dollar activity reported last week…noteworthy;
- 2 oceanfront Sea Pines homes went under contract, each being $3.5 million listings.
- 2 additional oceanfront homes went under contract in the Bradley Beach and Forest Beach neighborhoods.
- A deep water Dawtaw Island property on the Morgan River attracted a buyer after only 2 months on the market, listed at $1,299,000.
- Pre-spring LISTING SURGE! Last week there were 179 residential properties added to the local real estate marketplace. In fact, the number of single family homes brought to market during the previous 7 days was nearly DOUBLE the 12 week average with 124 listings. Incoming villa and lot listings on the other hand generally followed suit with their 12 week averages, at 33 and 22 new listings (respectively).
- Off island, Sun City led the charge with 15 homes brought to market.
- On island, Hilton Head Plantation dominated the category with 18 listings added.
- 17% of the Hilton Head listings introduced last week were priced over $1,000,000.
- Only 4% of ALL the listings added last week (homes, villas and lots) were bank owned or short sale offerings.
- Following the strongest week of the year for ratified contract activity, the number of pending and contingent sales dropped back just slightly (last week) with contracts written for 104 properties. This 12% drop off the prior week was still the third BEST week of pending sales since the start of 2015. Fortunately the number of closed sales actually increased to a 12 WEEK HIGH with 71 closed sales (53 homes, 11 villas and 7 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 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)