Hilton Head Island, SCWe went through a double whammy real estate market these last few years on Hilton Head Island. Double whammies happen when buyer confidence is low and listing inventory is high.  The only way to sell property in a double whammy market is to offer property at compelling prices. Hopefully that is all changing in 2o17.

 

Hilton Head Island’s inventories are dropping

Hilton Head’s new listings were down 4.3% over the last year.  It is important to note that we are now seeing a drop of inventory.   While the great recession shelved a lot of inventory for later on, we have now eaten through much of it.  Continued declines in the number of homes available could push out potential buyers who cannot compete with the higher prices later in the year if this trend continues.

Hilton Head Buyer confidence is Increasing

Hilton Head pending sales increased 33.9% in the last year.  Consumer confidence is at its highest level since July 2001.  We can feel this in our real estate offices.  Agents are busy as buyers make purchasing decisions even at what is typically a slower selling season on Hilton Head Island.

Hilton Head Prices are low

Prices are just 1% up in the last year on Hilton Head Island. That is because of the double whammy of high inventories and low consumer confidence.  This has held back Hilton Head prices in the last several years.  Keep in mind that when inventories tighten on an Island that is 97% developed, it has effect directly on price.

Why Buy Real Estate Now on Hilton Head

The number one reason to buy real estate on our beautiful Island is because you love it!   We also have interviewed many of our clients and the only regret they have had in buying is they did not do it sooner.  If you would like to get started, let one of our agents know today and we will begin the search for you.  You can also search yourself and be sure to check out our featured properties!

 

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