Hello Hilton Head Friends!
We're bringing you the latest updates on the Hilton Head real estate market through May 2019. Grab a seat! Here's what we're covering:
- Shrinking Inventory on Hilton Head Island
- Closed Sales on Hilton Head Island
- Hilton Head Neighborhood Activity Shifts
Shrinking Inventory on Hilton Head Island
The inventory of homes for sale on Hilton Head decreased 7.7% compared to May 2018. This past May, we saw a total of 138 Hilton Head homes enter the market. In May of 2018, 153 homes entered the market. Click here to see all real estate for sale on Hilton Head.
New Listing in Palmetto Dunes | 28 Haul Away MLS#394778
While home inventory may be down, the overall Hilton Head villa inventory rose 13.5% when compared to May 2018. Here's the good news for villa owners on Hilton Head; the days a villa spent on the market decreased by 7.2% when compared to May 2018. So while inventory may be up, villas are not sitting on the market, they're moving. In fact, closed villa sales were up 3.5%, year to date.
New Villa Listing in Shipyard | 1 Gloucester Road #D1 MLS#394804
The buyer buzz is definitely on, so if you're looking for a Hilton Head property, the time to strike is now. By taking the "wait and see" approach, you may be in trouble, especially if the property you have your eye on is exceptional. Chances are that property will be picked up quickly.
Closed Sales on Hilton Head Island
Closed home sales on Hilton Head Island were down 3.8% compared to May 2018. Considering the slim inventory on Hilton Head, buyers may be waiting for that perfect property to hit the market, then they'll make their move. Villa sales remained completely flat compared to last May with 124 villas sold in May 2018 and 124 villas sold in May 2019.
We're taking it a step further and breaking down the closed sales by price range on Hilton Head. Here's what sold year-to-date through May 31, 2019.
Hilton Head Island Homes
$100,000 and Below - No Sales
$100,001 to $225,000 - 4 Homes Sold
$225,001 to $375,000 - 77 Homes Sold
$375,001 to $650,000 - 209 Homes Sold
$650,001 and Above - 139 Homes Sold
Hilton Head Island Villas
$100,000 and Below - 32 Villas Sold
$100,001 to $225,000 - 196 Villas Sold
$225,001 to $375,000 - 153 Villas Sold
$375,001 to $650,000 - 97 Villas Sold
$650,001 and Above - 31 Villas Sold
Hilton Head Neighborhood Activity Shifts
Some Hilton Head Island neighborhoods see increased traffic during the peak season. There are other locations where buying traffic picks up in the fall. The following Hilton Head communities are showing year-to-date increases in closed sales compared to last year.
Long Cove Home Sales up 6.7%
Closed sales through May 2018 - 15 Closed Sales
Closed sales through May 2019 - 16 Closed Sales
Folly Field Home Sales up 25%
Closed sales through May 2018 - 4 Closed Sales
Closed sales through May 2019 - 5 Closed Sales
Windmill Harbour Home Sales up 50%
Closed sales through May 2018 - 8 Closed Sales
Closed sales through May 2019 - 112 Closed Sales
Hilton Head Island Off Plantation Home Sales up 16.7%
Closed sales through May 2018 - 60 Closed Sales
Closed sales through May 2019 - 70 Closed Sales
What to expect:
Expect more listings to exit the market over the next several months. If you're having a tough time finding what you're looking for, you have choices. You can always keep an eye on the market by signing up for saved search notifications on CharterOneRealty.com, where you'll find every Hilton Head neighborhood on this site. Want to be more aggressive? Call us at 844.526.0002. If we know exactly what you're searching for, we can find it for you.