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Real Estate Blog

August Market Report 2019

As the summer draws to a close, multiple opposing factors and trends are competing to define the direction of the real estate market. After the Federal Reserve lowered its benchmark interest rate on July 31, 30-year mortgage rates continued to decline, approaching all-time lows last seen in 2016. Yet most experts agree these reductions are unlikely to bring sufficient relief, at least in the short term, for first-time home buyers. The lack of affordable inventory and the persistence of historically high housing prices continue to affect the housing market, leading to lower-than-expected existing home sales at the national level.

New Listings were down 11.0 percent to 600. Pending Sales increased 16.2 percent to 510. Inventory shrank 6.5 percent to

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In July, the U.S. economic expansion that began in June 2009 became the longest in the nation's history, marking 121 straight months of gross domestic product growth and surpassing the 120-month expansion from 1991 to 2001. The average rate of growth during this expansion has been a milder 2.3 percent per year compared to 3.6 percent during the 1990s. Although the economy should continue to perform well for the rest of 2019, most economists see a mild recession on the horizon.

July 2019 Hilton Head Area Market Reports

New Listings were up 3.9 percent to 561. Pending Sales increased 8.3 percent to 536. Inventory grew 0.4 percent to 2,237 units.

Prices moved higher as Median Sales Price was up 11.9 percent to $330,000. Days on Market increased 16.3 percent to 143 days. Months Supply of

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Hilton Head beach sunset

Research has uncovered the fact that our beloved Hilton Head Island, South Carolina’s ocean beaches had been a much-visited destination ten-thousand years ago, similar to their place in the hearts of our residents and visitors today.

We twenty-first century humans embrace ‘our’ Hilton Head of today; vacation getaway, beautiful weather, and an ocean fronted by twelve miles of beautiful sandy beaches.

People travel long distances in 2019 to experience and enjoy these terrific features.

People traveled long distances ten thousand years ago, in 8000 BC, to experience and enjoy these terrific features.

Of the 29 Native American tribes that inhabited, what today is known as South Carolina, it is believed that members of all groups visited the

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June 2019 Market Reports

As was widely expected, the Federal Reserve did not change the target range for the federal funds rate – currently set at 2.25 to 2.5 percent – during their June meeting. Although the economy is still performing well due to factors such as low unemployment and solid retail sales, uncertainty remains regarding trade tensions, slowed manufacturing and meek business investments.

New Listings were down 5.0 percent to 587. Pending Sales increased 21.4 percent to 533. Inventory remained flat at 2,326. Prices moved higher as Median Sales Price was up 7.1 percent to $330,000. Days on Market increased 3.1 percent to 133 days. Months Supply of Inventory was down 5.5 percent to 5.2 months, indicating that demand increased relative to supply.

In terms of

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Celebrating Independence Day 2019—July 4th

Battle to regain control of much of South Carolina

Combined Continental Army and State Militia Forces Under the Command of Major General Nathanael Greene Battle to Regain Control of Much of South Carolina

South Carolina was outraged over British tax policies in the 1760s that violated what they saw as their constitutional right to "no taxation without representation". So, Merchants joined the boycott against buying British products.

Declaration of Independence

When the London government harshly punished Massachusetts for the Boston Tea Party, South Carolina's leaders joined 11 other colonies (except Georgia) in forming the Continental Congress.

When the British attacked Lexington and Concord in the spring of 1775 and were beaten back by the Massachusetts Patriots, South

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At this point in the year, we are getting a good sense for how the housing market is likely to perform for the foreseeable future. And although it is not a particularly exciting forecast, it is a desirable one. Markets across the country are regulating toward a middle ground between buyers and sellers. While it remains true that sales prices are running higher and that inventory options are relatively low, buyers are beginning to find wiggle room at some price points and geographies.

May Market Report 2019

New Listings were up 3.7 percent to 694. Pending Sales increased 9.7 percent to 601. Inventory grew 3.4 percent to 2,363 units.

Prices moved higher as Median Sales Price was up 0.5 percent to $321,500. Days on Market held steady at 136. Months Supply of Inventory

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For much of the country, the first quarter of 2019 provided several disruptive weather patterns that contributed to less foot traffic toward potential home sales. Coupled with low affordability, higher prices and an inventory situation in its infancy of recovering from record lows – not to mention several more days of wintry weather in April – slower sales persisted across most residential real estate markets.  However, buyers are beginning to return in force this spring. For well-priced homes in desirable locations, competition is fierce.

 

April 2019 Market Reports

New Listings were down 1.6 percent to 662. Pending Sales increased 7.3 percent to 588. Inventory grew 4.8 percent to 2,403 units.  Prices moved higher as Median Sales Price was up 2.4 percent to $319,250.

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When I began the research for this article, I had no idea the number of boat launching ramps maintained by Beaufort County, Department of Public Works.

Then, 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

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In addition to the quandary of ongoing housing price increases and affordability concerns in many U.S. markets, the first quarter of 2019 saw a fair share of adverse weather as well. Sales totals were mixed across the nation and sometimes dependent on what was a persistent wintry mix, especially in the Great Plains, Midwest and Northeast. Meanwhile, new listings and total homes for sale have been trending lower in year-over-year comparisons in many areas, and last year's marks were already quite low.March 2019 Market Reports

New Listings were down 3.4 percent to 748. Pending Sales decreased 2.3 percent to 553. Inventory grew 7.4 percent to 2,433 units.

Prices moved higher as Median Sales Price was up 8.7 percent to $325,000. Days on Market increased 0.7 percent to 139 days.

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The Hilton Head Island Region of the South Carolina Lowcountry has won awards over the last ten years for its ever-improving status as the destination in the United States if you want to play golf.

From Golf Magazine designating Hilton Head among the top five golf havens for retirees, to Golf Digest recently ranking it in seven of the eight top categories for golf destinations in its “Top 10 Best Courses” listing. Add to those impressive honors the International Association of Golf Tour Operators (IAGTO) recognition as the Sustainable Golf Destination of the Year and you will have zeroed in on the choice location to visit, or better yet, to become a resident of, if golf is your passion.

I’ll define the Hilton Head Island Region as the geography

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