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    October 2014 Market Pulse

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    We hope you had a Happy Halloween!

    After a “scary” start to the year with a sluggish 1st quarter, it has been a nice “treat” to see things pick-up across the third quarter.  This positive trend has continued in October, where the median sale price spiked almost 19% when compared against the prior month of September!

    As an added plus, interest rates continue to be VERY favorable for buyers, and lenders are having good success rates in underwriting new mortgage loan applications.   And in related news, the volume of “distressed sales” continues to be on the decline in our area with 39% fewer bank owned sales (REO), and  57% fewer reported short sales.  Lower interest rates provide incentives for the buyer, while fewer bank owned listings favors sellers!

    We remain optimistic for what the final quarter of 2014 will provide for the Hilton Head Island and Bluffton real estate markets.  The weather in October has been nearly PERFECT, and we are already starting to get calls and emails from clients “up-north” that have begun to have a reminder of what last winter was like.  A good many of our buyer-clients and prospects are suggesting that if this winter is as bad as the last, they are DEFINITELY making plans to move South for good!

    And, lastly, with the international real estate market-place heating up, we are excited that there have been approximately 40,000 visits on www.CollinsGroupRealty.com in October alone, reaching an audience from over 140 countries throughout the world!!

    Here’s hoping your October was great…and that you are looking forward to the upcoming holiday season!

    For additional insight into the overall Hilton Head Island/Bluffton SC real estate market, trends, and analysis or for in-depth statistics on an individual plantation or community, please contact Broker/Client Market Advisor Chris Sanders at 843-341-6300 or email Chris@CollinsGroupRealty.com

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