Is Hilton Head set for Recovery?
The signs on Hilton Head Island
Blooming azaleas, buyer appointments, phones ringing and multiple offers are all signs that Hilton Head is clearly in recovery. Although, the recovery will be more of a campaign than a flip of a switch, it is now taking place. Sellers are finally listening to their agents, buyers are finally stepping up to these properties with confidence and it is now GAME ON.
April Sales on Hilton Head improved
April is a critical sales month for Hilton Head Island and last year it simply did not happen. This year my company(of 100+ agents) saw some staggering results. Dunes Marketing Group saw sales jump 44% over last year and we were only off 2006 sales total numbers by 15%. This does not account for the volume differences of yester~years selling prices, but it clearly shows the market will react to proper pricing.
Year Transactions Volume Average
2010 70 $ 31,100,000 $ 444,000
2009 35 $ 13,800,000 $ 394,000
2008 46 $ 30,500,000 $ 663,000
2007 46 $ 17,600,000 $ 383,000
2006 81 $ 39,000,000 $ 481,500
2005 105 $ 67,300,000 $ 641,000
Who can help you recover on Hilton Head?
Buyers and sellers of real estate still have some challenges ahead. If you are a seller and you are overpriced, the recovery will not solve your problems. If you are a buyer and think that you should get 20% off a properly priced property, chances are you will be dissapointed. We have all learned in the last few years, market is determined by both buyer and seller, NOT ONE OR THE OTHER!
Real estate Market Trends on Hilton Head Island
The months ahead in real estate on Hilton Head include inventory reduction, pricing corrections on overpriced properties, stabilizing values and less negotiation for buyers. Based on our monthly market trends for Hilton Head Island, the market is correcting, but to throw caution in the air, buyers and sellers need to choose a full time Hilton Head Realtor.
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