The Hilton Head Homes Blog - Hilton Head Island Real Estate

January 2019 Market Reports

Despite a strong U.S. economy, historically low unemployment and steady wage growth, home sales began to slow across the nation late last year. Blame was given to a combination of high prices and a steady stream of interest rate hikes by the Federal Reserve. This month, the Fed responded to the growing affordability conundrum. In a move described as a patient approach to further rate changes, the Fed did not increase rates during January 2019.

New Listings were up 23.9 percent to 611. Pending Sales increased 16.5 percent to 430. Inventory grew 10.0 percent to 2,262 units.

Prices were stable as Median Sales Price decreased slightly to $327,993. Days on Market decreased 8.5 percent to 140 days. Months Supply of Inventory remained flat at 5.1

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December 2018 Market Reports

Home prices were consistently up again in most markets in 2018 but at reduced levels compared to recent years. High demand for few homes for sale fueled price increases, but evidence is mounting that inventory will finally improve in 2019. This may apply some downward pressure on prices for beleaguered home buyers. A fourth interest rate hike by the Federal Reserve in 2018 spooked the stock market to close out the year. The Fed has indicated that the number of rate increases in 2019 will be halved, which may be of little comfort to an already compressed consumer.

New Listings were up 2.8 percent to 336. Pending Sales increased 1.0 percent to 289. Inventory grew 5.9 percent to 2,231 units, the eleventh consecutive month of year-over-year…

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Welcome Susie Castellini to Berkshire Hathaway HomeServices Hilton Head Bluffton Realty!

We are excited to welcome Susie Castellini to the Hilton Head office of Berkshire Hathaway HomeServices Hilton Head Bluffton Realty!  Originally from the Cincinnati Ohio area, Susie's love for the Lowcountry started back in the late 70's when she vacationed here with her parents as a child.  Now she is lucky to call Hilton Head home and raise her children here.  

Being a "people-person" has helped Susie with her real estate career.  Her dedication to her clients, effective communication, and local knowledge have been beneficial to her clients buying and selling property in the area.  

Learn more about Susie HERE

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November 2018 Market Reports

The booming U.S. economy continues to prop up home sales and new listings in much of the nation, although housing affordability remains a concern. Historically, housing is still relatively affordable. Although Freddie Mac recently reported that the 30-year fixed rate is at its highest average in seven years, reaching 4.94 percent, average rates were 5.97 percent ten years ago, 6.78 percent 20 years ago and 10.39 percent 30 years ago. Nevertheless, affordability concerns are causing a slowdown in home price growth in some markets, while price reductions are becoming more common.

New Listings were up 11.0 percent to 533. Pending Sales increased 1.0 percent to 396. Inventory grew 4.6 percent to 2,309 units.

Prices were still soft as Median Sales Price…

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October 2018 Market Reports

If the last few months are an indication of the temperature of housing markets across the country, a period of relative calm can be expected during the last three months of the year. A trend of market balance is emerging as we approach the end of 2018. Prices are still rising in most areas, and the number of homes for sale is still low, but there is a general shrinking of year-over-year percentage change gaps in sales, inventory and prices.

New Listings were up 17.2 percent to 674. Pending Sales increased 2.8 percent to 446. Inventory grew 2.6 percent to 2,327 units. Prices moved higher as Median Sales Price was up 5.5 percent to $334,060. Days on Market decreased 9.5 percent to 134 days. Months Supply of Inventory was down 10.2 percent to 5.3…

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How to Choose a House When You’re Downsizing

Whether you have lived in your current home for decades or only a year, as you get older, you may find that you have too much space.  Additionally, thanks to stairs, slippery floors, and poor central air or heating, your old home may no longer suit your needs.  As a result, many seniors are increasingly choosing to downsize.  The process of selling and buying a home is always difficult, but it can be made much easier with proper planning.  Here are some strategies that can help.

 Choose a house that accommodates your medical needs

The most critical step is choosing a house that will accommodate your unique medical needs while also suiting your design preferences.  For instance, if you have trouble with your legs, hips, or ankles, you may not want to…

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August 2018 Market Reports

Rising home prices, higher interest rates and increased building material costs have pressured housing affordability to a ten-year low, according to the National Association of Home Builders. Keen market observers have been watching this situation take shape for quite some time. Nationally, median household income has risen 2.6% in the last 12 months, while home prices are up 6.0%. That kind of gap will eventually create fewer sales due to affordability concerns, which is happening in several markets, especially in the middle to high-middle price ranges.

New Listings were up 28.9 percent to 674. Pending Sales increased 10.9 percent to 490, the seventh consecutive month of year-over-year gains. Inventory grew 1.3 percent to 2,250 units.

Prices…

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July 2018 Market Reports

Housing price bubble chatter has increased this summer, as market observers attempt to predict the next residential real estate shift. It is too early to predict a change from higher prices and lower inventory, but the common markers that caused the last housing cooldown are present. Wages are up but not at the same pace as home prices, leading to the kind of affordability concerns that can cause fewer sales at lower prices. At the same time, demand is still outpacing what is available for sale in many markets.

New Listings were up 7.6 percent to 541. Pending Sales increased 25.4 percent to 519. Inventory shrank 5.9 percent to 2,161 units. Prices moved higher as Median Sales Price was up 2.8 percent to $298,158. Days on Market decreased 17.8…

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May 2018 Market Report

Just like last year at this time, prospective home buyers should expect a competitive housing market for the next several months. With payrolls trending upward and unemployment trending downward month after month in an extensive string of positive economic news, demand remains quite strong. Given the fact that gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later, buyers need to remain watchful of new listings and make their offers quickly.

New Listings were up 14.8 percent to 669. Pending Sales increased 24.6 percent to 588. Inventory shrank 7.1 percent to 2,211 units. Prices moved higher as Median Sales Price was up 9.7 percent to $328,000. Days on Market decreased 2.8 percent to 139 days.

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Explore Long Cove Club Video

What a great way to see and feel all that Long Cove Club has to offer - Read Full Post to see Long Cove Club community video.  We have also made it easy to search Long Cove Club properties for sale - just click HERE to start your search. 

Let us help you go from watching Long Cove Club videoes and wishing you were there, to actually being there. Contact us today!

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