December 2016

Found 3 blog entries for December 2016.

Mortgage rates finally went up, and there may be more where that came from. Although residential real estate has been preparing for this inevitability for some time, certain price points may become unreachable for some eager buyers if rates continue to rise at a steady clip. For the 12-month period spanning December 2015 through November 2016, Pending Sales in the Hilton Head region were up 2.7 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 13.9 percent. 

 The overall Median Sales Price was up 6.5 percent to $292,899. The property type with the largest price gain was the Condos / Villas segment, where prices increased 8.3 percent to $208,000. The price range that tended to sell

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by The KCM Crew

A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.

It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest month for real estate. What is surprising, though, is that listing during the winter came in second!

“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”

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