We wanted to let you know the real estate market for the first quarter of this year, both on and off the island, shows great results when compared to this time last year. And if you'll remember, last year was a excellent year for us. Please see the links below for all the data that's provided by the Multiple Listing Service of Hilton Head Island and the Hilton Head Area Association of REALTORS®.
For the island as a whole, home sales were up 20.7 percent and the median price increased 4.6 percent to $530,000. All this activity has encouraged more homes to come to the market increasing our inventory by 18.8 percent. Villa sales were up 16.0 percentand the median price rose by 17.9 percent to $237,500. New inventory of villas on Hilton Head Island up-ticked by 4.4 percent.
Home sales in Sea Pines increased by 9.5 percent and the median price rose 7.3 percent to $657,500. It's encouraging to see new inventory increasing by 15.2 percent to give home buyers a few more good options to consider. Villa sales in Sea Pines were even, year-over-year, but the median price increased by 18.4 percent as our inventory of villas dropped by 14.4 percent.
2018 Q1 REAL ESTATE MARKET OVERVIEW
2018 Q1 REAL ESTATE MARKET REPORTS BY COMMUNITY
For questions on this information or to discuss the nuances of the market as it relates to different types of properties at various price levels, please contact us. It's a pleasure to delve deeper on the areas of interest to you.
The 50th anniversary of the PGA Tour playing the Harbour Town Golf Links was a smashing success and great fun was had by all who attended. Congratulations to Satoshi Kodaira for winning the RBC Heritage in dramatic fashion!
You might not be playing like the Pros at Harbour Town, but taking lessons at The Golf Learning Center at The Sea Pines Resort's Plantation Club can go a long way to improving your golf game. It's been named by LINKS Magazine as a Top 10 Golf School in the U.S.. For more information on this excellent and award winning facility, please read my blog post: Tee up your golf game at The Golf Learning Center!
If you're considering buying real estate on the island this year, there's a number of steps we can take ahead of time to preposition you for a successful purchase when the time is right. We look forward to helping you with our expertise in navigating the process of achieving your real estate goals.
Please give us a call to discuss how we can best be of service to you.
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