1st Quarter - Hilton Head Island, SC - Palmetto Dunes Market Report

1st Quarter – Hilton Head Island, SC - Palmetto Dunes Market Report

It’s time to take a look at what’s happening in a little corner of the Hilton Head Island, SC market. Palmetto Dunes is divided by William Hilton Parkway, the major thoroughfare of the island. On one side is Shelter Cove (on the Broad Creek with a marina and harbor) and on the other side is Palmetto Dunes with direct ocean access.

The properties that will be highlighted in this market report are relative to the villas in both Palmetto Dunes as well as across the street in Shelter Cove. There are differences in price range for the obvious reasons of size and location but the constant is that whether you buy on the Palmetto Dunes side or the Shelter Cove side, you have the use of all of the resources and amenities of the entire community.

I’ve accomplished this market report before but thought that it might be helpful to understand some particulars. The following villa enclaves are on the Palmetto Dunes (ocean) side:

Inverness Village Villas

Queens Grant

St. Andrews Commons

Turnberry Village Villas

On the Shelter Cove side:

Anchorage

Captains Quarters

Harbourside I

Harbourside II

Main Sail

Newport

Tradewinds

Yacht Club Villas

Now to make sense of the elaborate market report; of the active properties as an aggregate the minimum list price is $173,900 for a 1 bedroom in St. Andrews. This translates to $168.55/square foot though we really don’t depend on that measure. The highest list price at the moment is $925,000 for a Main Sail (direct waterfront) for a price/square foot of $409.97. Now you see why we don’t depend on these. The average price for an active property in this metric is basically $378,238.

Of the 13 pending properties, the average list price is $287,600 – with an average list price/square foot of $211.72. and of the 32 properties that have closed, the average list price was $329,728 and average closed price was $313,057. This indicates that the interest is in that middle price point.

So here’s the general graphic showing all of the closings up through the end of March, 2016.  CLICK HERE FOR SPECIFIC LISTINGS in the Palmetto Dunes/Shelter Cove area. (by the way you'll also see additional listings on the ocean side)