June 2018 Hilton Head/Bluffton Market Report

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    Hey y’all!

    Okay…that’s a little casual Lowcountry lingo for you, but it is Summer after all!

    The market continues to perform VERY nicely on both side of the bridge.  Closed sales are up 16% over this time last year, and newly-pending sales are up 13%… both of which are adding continued consumer confidence in many segments and price points of the marketplace.

    Average and median sales prices bumped up again in June, with a WHOPPER increase in the average sales price of real estate closed in June 2018 vs. June 2017, recording a 12.7% jump year-over-year.

    With this momentum in the market, more sellers are entering the marketplace, so we’ve actually seen a 10% increase in new listings this year over last.  Quite a few of those are selling quickly, resulting in a 9.2% drop in the average time it takes a listing to sell this year vs. last.

    Just for a little more fun news, to make sure we are taking care of the people who take care of our clients, we had our first annual CGR Vendor Appreciation Lunch this month.  Plumbers, painters, electricians, and the like, enjoyed a delicious BBQ lunch on us as our way to say THANKS for all they do to make our clients’ lives a little easier.

    Watch this short video for the 2018 mid-year real estate market update. We appreciate your business and hope you’ve had a great first half of 2018. – Chip


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