We're pleased to report the real estate market on Hilton Head Island is firing on all cylinders a year into the pandemic. The 1st Quarter MLS sales data illustrates the strength of our local market. While demand remains near all time highs, there is a growing sense of frustration with buyers as they compete for new listings. Sellers, on the other hand, are trying to gauge the most opportune time to come to the market while dealing with the replacement question? With inventory so scarce, it's difficult to see how the market will change much through the summer.
Home sales around the Island jumped 60.0%, year-over-year, and the median sales price appreciated 26.8% to $760,500.
Island-wide, villas sales increased 57.6%, year-over-year, and the median sales price rose 11.6% to $286,750.
The housing market in Sea Pines is red hot with sales up 102.1%, year-over-year, and the median sales price catapulting 66.2% to $1,100,000. From our perspective, it's probably closer to say homes have appreciated 20% to 30%, plus improvements. For the record book, on average, a home has sold every day since the beginning of the year. During this time, inventory has shrunk 79.4% and the daily number of homes listed for sale is now averaging 22 out of 3,800 available homes.
For a comprehensive review of the 1st Quarter Hilton Head Island MLS 2021 sales data, for communities both on and off the Island, please click the links below:
2021 Q1 REAL ESTATE MARKET REPORTS BY COMMUNITY
2021 Q1 REAL ESTATE MARKET OVERVIEW
It's springtime on Hilton Head and nesting birds and blossoms can be seen everywhere! You can feel rejuvenation in the air with burgeoning new home construction and businesses booming across the Island. It's a wonderful time to plant your roots into our sandy soil!
If you're planning a trip to Sea Pines, and looking for fun things to do, please check out The Sea Pines Resort Guide for Spring.
Stay safe and enjoy your spring,
THE LOVE FAMILY
LoveofHiltonHeadIsland.com
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