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Welcome to the Collins Group Realty September 2012 Market Update

October 22, 2012

Hello Perfect Weather! It’s that magical time of year here on Hilton Head Island when the temperature dips into the 50’s at night and then rises back to an ideal low-70’s during the day. Those temperatures combined with crisp, clean, low-humidity air make for an amazing opportunity to enjoy just about any outdoor activity.

As the temps have cooled down, so has the market over the past month or so, resulting in a mixed array of statistics through September 2012. New listings are down, which is typical for September, and yet we can expect this to spike up again through October. Closed sales dropped, reflecting the slow down in pending sales in July/August. Days on market took a little hop up, but that stat has been “bouncy” all year, while reflecting an impressive overall decline from the past 2 years. Most notably, the average sales price spiked HUGELY in September, demonstrating that the market is getting more and more confident in purchasing higher price point properties across the market area.

Given that the election is just a couple of weeks away, we are finding some buyers are holding off on pulling the trigger until they have a better sense of the future based on the results of the election. As such, we are hopeful that November and December might actually be better-than-usual months this year. We will keep you posted… Thanks for your time and interest in our read on the market. Have a great Halloween!

Best-

Chip

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