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Real Estate Blog

Annual Report on the Hilton Head Housing Market

Straight from the source: Take a look at this report from the Hilton Head Area Association of Realtors.

2023 was a challenging year for the U.S. housing market:

"Mortgage rates hit a 2-decade high, housing inventory remained at historic lows, and sales prices continued to climb nationwide, putting homeownership out of reach for many consumers. Housing affordability remained a top concern for homebuyers, and for good reason: mortgage payments are up significantly from 2022, with a number of homeowners now spending more than 30% of their income on their monthly payment. As a result, sales of previously owned homes remained sluggish throughout the year, while the shortage of existing-home inventory

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Bill True and Berkshire Hathaway HomeServices Hilton Head Bluffton Realty are pleased to offer these professional and dynamic 60-second market updates for our clients.  The videos touch on 5 key components of market activity:  Active Inventory, Median Listing Price, Days on the Market, Median Sales Price, Units Sold.  

60 Second Video Reports

  1. Sea Pines
  2. Palmetto Dunes & Shelter Cove 
  3. Forest Beach
  4. Shipyard 
  5. Folly Field, Hilton Head          
  6. Hilton Head Plantation
  7. Windmill Harbour
  8. Long Cove 
  9. Hilton Head Condos ($250K+)
  10. Hilton Head Luxury Homes          
  11. Bluffton   
  12. Oldfield 
  13. Sun City
  14. Latitude Margaritaville           
  15. Bluffton Luxury Homes   

My goal with these fact-based videos is to share with my clients and

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Bill True and Berkshire Hathaway HomeServices Hilton Head Bluffton Realty are pleased to offer these professional and dynamic 60-second market updates for our clients.  The videos touch on 5 key components of market activity:  Active Inventory, Median Listing Price, Days on the Market, Median Sales Price, Units Sold.  

60 Second Video Reports

  1. Sea Pines
  2. Palmetto Dunes & Shelter Cove 
  3. Forest Beach
  4. Shipyard 
  5. Folly Field, Hilton Head          
  6. Hilton Head Plantation
  7. Windmill Harbour
  8. Long Cove 
  9. Hilton Head Condos ($250K+)
  10. Hilton Head Luxury Homes          
  11. Bluffton   
  12. Oldfield 
  13. Sun City
  14. Latitude Margaritaville           
  15. Bluffton Luxury Homes   

My goal with these fact-based videos is to share with my clients and

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When I started the research for this blog, I didn't realize how many ramps were managed by Beaufort County Department of Public works.  I focused on the location of Beaufort County, the heart of the South Carolina Lowcountry, and quickly realized that the twenty-five boat ramps are spread across the twenty-two rivers and creeks that run through Beaufort County.

My next challenge was how to present such a large quantity of information that would be not only useful to my readers but would be in a format that would allow the boater or potential boater quick access to detailed information on each of the facilities. Here, Beaufort County is the hero. The Beaufort County, Department of Public Works maintains a database of relevant information and even

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Bluffton SC Bluffton SC was recently featured in an article on NYTimes.com about being one of 6 emerging towns for Shore living, and the competition was worldwide.  It's easy to fall in love with Bluffton SC.  When you're ready to call Bluffton home, give me a call.  Search Bluffton Real Estate HERE

 

Read the full article from NYTimes.com HERE

Bluffton: A State of Mind.

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January 2020 Market Reports

As the cost of renting continues to increase, consumers have more incentive to lock in their housing costs by purchasing a home. The latest CoreLogic Single-Family Rent Index report released this month saw the cost of renting single-family homes, including condos, up 3% in November 2019 versus November 2018. According to CoreLogic’s data, single-family rents started climbing in 2010 and have stabilized around an annualized rate of 3% since early 2019. For the 12-month period spanning February 2019 through January 2020, Pending Sales in the Hilton Head region were up 8.7 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 17.4 percent.

The overall Median Sales Price was up 3.5

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The 2019 housing market was fueled by the overall strength of the economy across most of the country. The stock markets reached new highs throughout the year, improving the asset bases of millions of Americans. Unemployment rates fell to 50-year lows, while wages increased, creating new home buyers. Mortgage rates also declined significantly from 2018, helping to offset affordability stresses caused by continued price appreciation nationally.  ***More Info below Graph***

Year End Report

 

With a strong economy and low mortgage rates, buyer activity has been strong. However, most markets are being constrained by inventory levels that are still below historical norms. With supply and demand continuing to favor sellers, prices continue to rise.

 

With 10

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Nov 2019 Market Report

In November, the Federal Reserve reduced its benchmark rate for the third time this year. This action was widely anticipated by the market. Mortgage rates have remained steady this month and are still down more than 1 percent from last year at this time. Residential new construction activity continues to rise nationally. The U.S. Commerce Department reports that new housing permits rose 5% in October to a new 12-year high of 1.46 million units.

New Listings were down 10.3 percent to 478. Pending Sales increased 10.5 percent to 412. Inventory shrank 11.2 percent to 2,120 units.

Prices moved lower as Median Sales Price was down 5.4 percent to $304,990. Days on Market increased 5.2 percent to 141 days. Months Supply of Inventory was down 18.2

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October market reports 2019

In October, mortgage rates increased slightly from the three-year lows seen in September. While the Federal Reserve reduced the federal-funds target rate by .25%, this decline was widely expected and largely factored into mortgage rates already, which are still approximately 1% lower than this time last year. Fannie Mae is predicting that continued low rates, and possibly lower rates, are expected in 2020.

New Listings were down 0.1 percent to 673. Pending Sales increased 18.2 percent to 500. Inventory shrank 9.6 percent to 2,166 units.

Prices moved higher as Median Sales Price was up 4.9 percent to $350,270. Days on Market increased 10.5 percent to 147 days. Months Supply of Inventory was down 16.4 percent to 4.6 months, indicating that demand

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With the kids back in school and the weather cooling, the housing market begins its annual cooldown as well. Nationally, buyer and seller activity remained strong, buoyed by low mortgage rates and a strong economy. The market fundamentals suggest no significant changes from recent trends, other than the seasonally tempered pace we see this time of year. As we move into the final three months of 2019, buyers will find fewer homes coming on the market, but also less competition for those homes.

September 2019 Market Overview

New Listings were up 7.9 percent to 476. Pending Sales increased 41.8 percent to 451. Inventory shrank 8.6 percent to 2,133 units. Prices moved higher as Median Sales Price was up 4.8 percent to $325,000. Days on Market increased 8.5 percent to 141 days.

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