Hilton Head Market Update July 2o15:
North end and Bluffton brokers are busy! Because baby boomers are rushing into their retirement after sitting on the fence through the recession! South End Brokers are busier too. Summer visitors are finally grabbing up the best properties and locking in on low interest rates before they leave town.
Resort properties on Hilton Head are selling too. End users, not investors or rental folk are buying these properties near the beach.
Good news in the over $1 million priced properties! 6 sold in the last 6 days. The ghost market may finally be coming to an end as the $750k plus properties come alive. Smart buyers are sticking their toes in the over $1 million dollar market and are being rewarded with great properties, great prices and even some great negotiation.
Land sales on the Island continues to run quiet. Why? Because, potential land buyers are scooping up homes for less than building a new one with better financing too boot.
In all, inventory is replacing itself every day. This is holding prices in check for the time being. Keep in mind, we do live on an Island with a limited finite resource of land(now 97% developed). The number of sales off Island double the Island which shows the epicenter of activity has moved from Hilton Head to Bluffton.
It’s still all about location and timing. Baby boomers just want to be warm and wet and are buying as close to the Ocean as their money will get them! Happy Summer, Ya’ll!
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