Hilton Head First Quarter 2013 Sales off to a Strong Start

CLOSED HOME STATS

Just to be clear, for these purposes, I'll use actually CLOSED homes since a contingent sale or pending sale is exciting but may or may not eventually actually close. From January to March, 148 homes closed - 19 of which were over $1million and 1 which was over $4million!

Though the average closed prices are down slightly from last year, $467,000 as opposed to $476,000 the news for buyers is that time is running out since the sale price to list price ratio is firming up from 93.5% to 95.1% and days on the market are at 96.  The National Association of Realtors statistics say that a 'normal' market consists of days on the market of 180 days. JUST A NOTE TO BUYERS- IT MAY LOOK LIKE THE PRICES ARE A BIT DOWN BUT THE SELECTION HAS BEEN GREATLY REDUCED.

 The location for the highest number of homes sold was in Sea Pines which posted 40 sales with Hilton Head Plantation closely behind with 33. TO CHECK OUT THE ACTIVE LISTINGS IN HILTON HEAD PLANTATION, PLEASE CLICK HERE.

CLOSED Villa Stats

 Hilton Head first quarter 2013 sales off to a strong start is particularly applicable to villas. 149 found new owners with average sale price of $225,000 as opposed to $149,900 for the same period last year. The sale price to list price was also slightly up from 92.9% to 93.2% - the only slightly disappointing news is with reference to days on the market which has extended from 70 in 2012 to 112 this year. However, again this still reflects a very solid market and trends positively towards a continued upswing eventually favoring sellers.

It is sometimes very difficult to translate the national news to what's local. Contact me on Google + for market reports on specific areas on Hilton Head.

The number of visitors on the island is up, bookings for short term rentals are up,  the number of building permits is up; all of which continues to mean it's a good time to buy.

For home or villa owners thinking of selling, there may not be a greater opportunity for you to sell.

Whether you are a potential buyer or a seller, if you have any questions about this report or would like a solid analysis, please contact me.