Welcome to the Collins Group Realty May 2011 Market Update | Hilton Head Real Estate

Last Updated June 24th, 2011

Happy Summer!

This has been a particularly fun week for CGR as we were just honored with the Island Packet’s Readers’ Choice Award for Best Real Estate Company, and I was proud to be selected as the Best Realtor for the second year in a row. We owe these honors to folks like you who make it known how much you value our efforts, services and resources. So, our thanks go out to YOU!

Speaking of resources, we always love delivering the Collins Group Realty Market Pulse because we know it is “rich content” for our readers. In fact, one client of ours told me last month that he relies on this report to help guide the financial direction of his local landscaping company – how cool is that?!!

When it comes to updating you on the market through May, we continue to have good news to report. The number of new listings year-to-date compared to this time in 2010 is down 10%. Considering the drop in new listings coming on the market and combining that with a 23% increase in the number of Closed sales this month over May 2010, it is great to report that the months’-supply of properties on the market is a full 17% below where we were a year ago!

Everyone would love to be able to pinpoint the exact bottom of the market, but it is absolutely impossible. The best anyone can do is buy “in the bottom”, which is that period of time when indicators suggest conditions are ripe for the market to start “coming back.” Perhaps the “bottom” could last for some period of time – certainly more than just a week, of course. And as confidence builds that we are actually in the bottom, the sooner a recovery self-actualizes.

At CGR, we are doing all we can to instill that confidence to help Hilton Head/Bluffton return to stronger market conditions.

Happy reading/studying…and, as always, let us know how we can be of service to you OR to someone you know!

Thanks!

Chip Collins
Owner/Broker-in-Charge