We're pleased to say the real estate market on Hilton Head Island continues to do well and is showing signs of confidence as we progress through the year. When compared to the same time period as last year, some market segments on the island are performing well with closed sales and appreciation while other segments are doing what they can to hold on to the gains from the previous year.
Island-wide, home sales are moving at a brisk pace with closed sales up 18.6 percent. However, the median sales price has dipped slightly by 1.9 percent to $530,000.
The villa market on Hilton Head Island is having a great year with closed sales up 5.5 percent and the median sales price appreciating by 10.5 percent to $243,000.
Home sales in Sea Pines are 8.4 percent ahead of last year and the median sales price of $696,800 is just barely positive with .3 percent gain. That's wonderful news considering last year the median sales price of a home in Sea Pines increased by 15.1 percent. Part of this can be attributed to the great year our oceanfront market is having. To learn more about the oceanfront market in Sea Pines, please read my latest blog post.
The number of villas sold in Sea Pines is dead even with last year but the median sales price has increased 11.3 percent. That's the biggest gain in appreciation we've seen since 2012-2013. Of noteworthy importance, our new median sales price of $410,000 has finally broken above $400k level for the first time since 2008.
For details on the year-to-date numbers from MLS, for each area of the island, the island as a whole and off-island communities, please click on links to the information in PDF format below:
The Sea Pines Resort has published their Resort Guide for Fall and Winter 2018 - 2019. You'll be amazed at the variety of activities they've orchestrated for y'all to enjoy! For details on all the fun, please visit the Resort Guide here.
Should you have questions about our real estate market or if you would like more information on properties you find interesting, please contact David Love on his cell phone: 843-290-5644.
It's our privilege to be of service to you and your family!
David and Kathy
Sea Pines Real Estate at The Beach Club