Real Estate Matters
Hilton Head and Bluffton Real Estate Market Updates
With sales increasing and inventory decreasing, we are heading in the right direction for sure. If you have been wondering if the time is right to list your property for sale or upsize/downsize into a new property, we are here to help.
Below is a brief market report for the Lowcountry. Should you have any questions or would like a more detailed market report for a specific community, we are here to help. Please contact us and share your questions and thoughts.
New Listings: 550 new listings came on the market in April. This was an 11.6% decrease from April 2014.
Pending Sales: 289 sales went pending in April. This was a 12.1% increase from April 2014.
Closed Sales: 324 properties closed in April. This was an increase of .3% from April 2014
Average Sales Price: The average sales price for April was $382,586 which was up 12.3% from April 2014.
Inventory Levels: Inventory levels for April were down 8.9% from last year to 2,480.
As we enter into the traditional selling season, there is great evidence of bustle. Lenders and Realtors are working diligently to keep up with the demand. Rental prices continue to rise which may cause some to think twice before locking into a lease instead of a purchase. It’s a relief to see the real estate market preforming so well these days. We are looking forward to a healthy selling season!
As a Real Estate leader on the Island, Foundation Realty will help you obtain market information and establish the probable value of your property. If you foresee a change in your Hilton Head Island or Bluffton ownership on the horizon, acting sooner rather than later is a wise decision. Please e-mail us at Support@FoundationRealtyTeam.com or call us at (843)686-4002.