WEEKLY MARKET PULSE
by Chris Sanders, Client Market Advisor
June 30, 2015
Collins Group Realty is pleased to provide you with this week’s edition of Market Pulse; a quick overview identifying a few of the local real estate “highlights”, in an effort to bring your attention to some of what specifically hit our radar last week…
HOTSHEET SUMMARY FROM LAST WEEK:
LISTINGS: 116 listings were added to our local markets last week.
CONTRACTS: 143 residential properties moved to pending or contingent status.
CLOSED SALES: 52 closed sales were reported last week.
- The number of contracts (contingent and pending sales) SPIKED last week. It was the most active week yet of 2015!
- There were 72 ratified contracts reported on Hilton Head Island last week, up 33% from the prior week.
- More properties went under contract last week than in any other week of the year.
- 14 listings OVER $1,000,000 moved to pending status last week alone.
- Sea Pines had an impressive week with 14 pending sales reported.
The total number of listings coming on the market dropped 12% last week due to fewer “new” listings in the greater Bluffton neighborhoods, while the number of pending home sales in Bluffton increased.
At least half of the closed home sales last week were reported as selling in less than 90 days, and more than 75% sold in less than 180 days, including…
- 3 homes in Hampton Hall in the $500,000 – $700,000 range.
- 2 homes in Berkeley Hall in the $750,000 – $850,000 range.
- 11 Bluffton area homes in the $150,000 – $300,000 range.
- And a $1,550,000 villa in Sea Pines, which happen to be a Collins Group Realty listing that sold in just over 2 months.
- 25 villas pended last week, continuing a steady flow of activity for that segment of the market, and nearly a third of these listings were priced OVER $400,000!
- And finally it looks as if Hilton Head Island (and Bluffton) will indeed be hosting a 70.3 mile IRONMAN race, starting in the fall of 2016 for a 5 year stretch. This race is expected to bring both some amazing athletes and global exposure to our area. Events such as this can’t help but have a positive impact on our local economy, including the area real estate markets!
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 World: http://www.CollinsGroupRealty.com
Primary Data source: Hilton Head MLS (DATA IS BELIEVED TO BE ACCURATE BUT IS NOT GUARANTEED)