We're pleased to let you know the real estate market on Hilton Head Island experienced another year of measured growth and stability through 2018. The market didn't appear to favor either the buyer or the seller as both sides were sensitive to price and value. The exception to this could be found in new home construction which continues to show solid demand. Buyers also had a clear preference for renovated homes and villas in turnkey condition.
Sales of homes on Hilton Head Island were stong in 2018 with an increase in transactions of 16.8 percent but the median sales price dipped slightly by .2 percent to finish out the year at $534,000.
Villa sales islandwide ticked up 1.1 percent from the previous year while the median sales price increased 6.7 percent to $242,500.
The number of homes sold in Sea Pines increased 9.8 percent as the median sales price drifted up .4 percent to $705,000. It was a very good year considering we held onto the impressive 15 percent gain in the median sales price from 2017.
Villa sales in Sea Pines had an interesting year. The median sales price increased 9.3 percent to $395,000 but the number of villas sold declined by 9.8 percent.
For a comprehensive review of the 2018 MLS year-over-year sales data for communities both on and off the island, please click on the links below:
To gain a broader understanding of the real estate market on Hilton Head Island, please read my latest blog post; "Why Robert J. Shiller is Wrong About HHI Home Pricing."
Hilton Head Island continues to captivate visitors with our sublime natural beauty and our world-class recreational outdoor activities. The island received several noteworthy awards in 2018:
- Conde Nast Traveler voted Hilton Head Island, "Best Island in the U.S." for the third year in a row.
- Travel + Leisure Magazine's 2018 World's Best Awards voted Hilton Head Island, "#1 Island in the Continental U.S.'
- The Town of Hilton Head Island was certified as the first Public Audubon Sustainable Community in South Carolina by Audubon International
We begin the year on a positive note from the Town of Hilton Head Island. Good fiscal stewardship has resulted in Standard & Poor's recently upgrading the Town's bond ratings.
If you're thinking of buying or selling real estate on Hilton Head Island, please let our passion for service help you to achieve your goals in 2019.
Happy New Year!