Hilton Head Island & Bluffton Stats & Thoughts
Hilton Head Island & Bluffton Stats & Thoughts!
Greetings from Beautiful Hilton Head Island & the surrounding area of Bluffton! Now that Thanksgiving Day has passed (but I hope the thanks & giving continues), the Island isn’t as busy but it’s still busier than last year at this time. The weather has been in the high 60’s to low 70’s & into the ’40s & ’50s at night. Great golf, walking the beach, or just shopping weather! I’m going to include the latest real estate stats even though it’s difficult to explain sometimes. Inventories down, prices up, days on the market down, percent of ask price up. These are exceptional times in our country, with COVID & now a new strain out there, along with the stock market & economy, shortages in materials & so many more subjects but the Cocktail Party Talk is also about real estate & what’s going on.
In my 27 years here, I’ve never seen it like this (& many other seasoned Realtors here agree!). With more & more people realizing they can work out of their homes (or 2nd homes), wanting to spend more time in nicer weather with less crime & taxes & with inheritance or the amount of money they can get for their homes, it’s no wonder that our real estate market has exploded! Our area has been extremely underpriced & it’s finally getting to maybe where it should be compared to other parts of the country. I still get a little “wheezy” when I see what prices were a year or so ago & what they are now & going up too. A little secret ~ they aren’t coming down! Inventories continue to be outpaced by buyers. I was here during the last “boom” in 2006-2008 & some people continue to think they’ll come down like they did then but today’s market is completely different from then. A lot of buyers were “upside-down” because of frivolous loans being given out. Today, more & more buyers are coming in with cash in hand from the sales of their homes or inheritance or taking profits from the stock market. If not, much “healthier” down payments are in play & with interest rates still being in the low 3% range (but are slowly rising), it gives the buyer so much more home to be able to buy. Sellers are even selling with no appraisal contingencies or “as is” stipulations. And this is the “slower” time of the year! Come Spring when there are more people here, you’re going to see prices go higher. Many buyers are purposely coming here now while it’s slower.
I know the inventories are much less than “normal” but if you’re serious about ever wanting to own property here in the Hilon Head Island Area, you need to be flexible & ready NOW! I’ve, unfortunately, from personal experience, seen it happen too often that my buyers weren’t quick enough to decide or didn’t want to go over the asking price so they lost out. I’ve had 2nd thoughts about “pushing” my buyers especially while trying to protect their interests but I continue to see the prices going higher over the last 1 ½ years. Each Agent has a list of buyers who are ready willing & able to put the offer in ASAP, even without being here physically sometimes. I’ve even seen buyers “flip” their properties since COVID first started to affect our lives. The demand continues to be strong here but I am seeing some properties (especially single-family residences) slowing down a bit. All I ask is if you’re serious about purchasing, do it now before it goes higher. If you’re looking for some rental income, talk to me ~ I can help you in specific communities that allow that. If you’re wanting to move here permanently, talk to me ~ I know where the communities that cater towards full-time residents are. But when a property of interest comes on, please contact me ASAP ~ I can do a Live Facetime or do anything I can to help you with information, videos, specific details & more to help you make an educated decision.
Now here are the October & Year to Date Stats ~ Hilton Head Realtor’s Assoc October Market Stats Please click here for October Housing Supply Stats I’m also attaching 3 other statistic links ~ Please click here for Hilton Head Condos/Villa Stats And here are Hilton Head Single Family Residences ~ Please click here for Hilton Head Homes Stats One more area not to be overlooked is ~ Click here for Bluffton/Mainland Stats The Bluffton area (just before the Hilton Head Bridge) continues to be Very Popular for being a bit more “affordable” & newer developments in play. If you’re looking for stats on specific communities such as Sea Pines, Wexford, Palmetto Dunes, etc, just call, text, or email me with the communities you’d like to watch. I’ll set it up for you
Please understand what you’re looking at today, may have been (probably) viewed by MANY others who are ready immediately. And with the Delayed Listing status with the MLS’s, listings are being sold BEFORE they even reach the pubic MLS ~ I can help with that too!
If you go on my website, you’ll see 4 Popular Search boxes ~ All Oceanfront Homes listed, All Oceanfront Condos listed, All Homes in our Private Golf Communities listed, and My Featured Gated Community (Hampton Lake). I also have Weekly Updated Market Reports under my Services Tab at the top along with a mortgage company link if you’d like to get pre-approved.
Call or E-mail me with any questions. Please continue to utilize my Website at www.HiltonHeadLifestyle.com or Sam.TheAllianceGroupRealty.com and search for your desired home, condo, or even a homesite for possible future use. Please utilize my 25 years plus, of being an Island Resident. Don’t ever hesitate to call, text, or E-mail me if you have any questions. I look forward to helping you become an “Island Neighbor!”
Merry Christmas & Happy Holidays!
See you soon!
Stay Safe & Healthy!
Sam Mancuso, REALTOR®
The Alliance Group Realty
890 Wm Hilton Pkwy, Ste 33
Hilton Head Island, SC 29928
843-298-1298 – Mobile