Hilton Head Island Real Estate Market Trends – South Carolina

News for Hilton Head Island, SC - September 17th, 2011 1:23pm
Boomers , Even if retirement is years away . Now is the time to buy , prices are at 2002 pricing on Hilton Head Island and Interest rates are at 60 year lows . With the housing market in a mess , you can find renters for your new retirement home until you are ready to take it over .

News for Hilton Head Island, SC - March 18th, 2011 10:39am
Market activity may appear to be low in year to year comparisions with the expiration of the tax credit. We knew this was coming. Several other themes warrant attention before we dig into the numbers. First, we've had several months in a row of private job growth. Second, interest rates, in concert with food and energy costs, are rising. Third, the anticipation of rising rates often motivates buyers. A recovery looms. Now, let's take a look at those numbers.New Listings in the Hilton Head region decreased 9.5 percent from last February to 465 new homes. Meanwhile, Pending Sales increased 27.1 percent to arrive at 253 contracts written. This meant inventory levels decreased 14.9 percent from last year to reach 2,988 active listings.Prices slid a bit — the February Median Sales Price of $188,200 decreased 12.5 percent. Negotiations moved toward buyers as Percent of List Price Received at Sale decreased 0.5 percent to 93.8 percent. The absorption rate decreased 27.1 percent as Months Supply of Inventory checked in at 13.1 months.The national average interest rate was 5.23 percent on a 30-year fixed. The U.S. government would like to play second fiddle to the private sector in the mortgage market. Shifting the risk burden makes fiscal sense but could threaten an already fragile recovery. The Center for Responsible Lending states that it would take 14 years for the typical American family to save enough money for a 20 percent downpayment, based on national average home prices. All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Powere... [ + Read Full Article ]

News for Hilton Head Island, SC - January 25th, 2011 6:03pm
2010 was a good year to get rid of some inventory. Sales were up over 13% across the market . The prices are still dropping since some inventory has been sitting awhile and the sellers are realizing they need to drop their prices or take the home off the market.
As your local Real Estate Expert I can differentiate between a good buy and a home that is just priced to high for to long. The general consensus is we are at or near the bottom everyone has been looking for . Time to jump in to the pool before prices go up and interest rates start rising.

News for Hilton Head Island, SC - September 20th, 2010 4:01pm
We have had a great summer , tourism was up 20% , If you ever wanted to buy this fall is the time , the buiyers and investors are out looking . Call me for details about any plantation or community