Homebuyers During the Holidays

Black Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is undoubtedly still top of mind for many right now. This year, there’s another type of buyer that’s very active this holiday season – the homebuyer.

Each month, Showing Time releases their Showing Index, which tracks the average number of appointments received on active U.S. house listings. The most recent index notes:

The Showing Index reported a 60.9 percent jump in nationwide showing traffic year over year in October, the sixth consecutive month to see an increase over last year.

 

Here’s the breakdown of the latest activity by region of the country compared to this time last year:

  • The Northeast increased by 65.5%
  • …

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Hilton Head Real Estate Update | November 2020

November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.

New Listings were up 13.4 percent to 549. Pending Sales increased 44.0 percent to 563. Inventory shrank 46.2 percent to 1,186 units.

Prices moved higher as the median sales price was up 28.5 percent to $391,850. Days on market decreased 7.9 percent to 129 days. Months supply of inventory was down 58.3 percent to 2.0 months, indicating that demand increased relative to supply.

Showing activity remains higher than the same…

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Hilton Head Area Real Estate Market Report

Housing Supply Outlook - November 2020

Inventory remains constrained in most segments of the market, while buyer activity remains strong. With the holiday season upon us, both buyer and seller activity typically follow seasonal slowdowns before rebounding in the new year. For the 12-month period spanning December 2019 through November 2020, pending sales in the Hilton Head region were up 28.0 percent overall. The price range with the largest gain in sales was the $650,001 and above range, where they increased 86.0 percent.

The overall median sales price was up 13.0 percent to $363,700. The property type with the largest price gain was the condos / villas segment, where prices increased 15.6 percent to…

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Thank You For Your Toy Donations

Our annual Charter One Realty Toy Drive was an outstanding success thanks to the overwhelming generosity of our community, agents, and staff. This year, we collected hundreds of new toys for needy children throughout the Lowcountry. All donations received went to Bluffton Self Help and Deep Well to support families in need this holiday season.

The donated toys are collected and distributed to make the holidays brighter for local families in need during this time of year. Charter One Realty is happy to open our offices to serve as collection spots and accept new and unwrapped toys from the public each year. We are grateful for and impressed by your kindness and giving spirit. Your generosity means that those children will have a wonderful…

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Merry Christmas and Happy Hanukkah - it is finally time to celebrate! We love December here in the Lowcountry. It’s a time for seasonal celebrations so we rounded up the best Lowcountry holiday events we’re looking forward to this month. In this article, you will find the best places to see Christmas lights, discover some socially distanced family outing options, and find places to spread holiday cheer. 

Let’s get the festivities going and start celebrating as soon as possible. Pack some snacks, bundle up in festive gear and check out where you can celebrate the holidays this year! 

 

Drive-through Light Display

This weekend, one of the best Lowcountry holiday events begins, the Historic Mitchelville Park’s Season’s Greetings from Around the…

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Housing supply during the holidays

Around this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why selling your house now, or keeping it on the market this season, is the best choice you can make. This year, buyers want to purchase homes for the holidays, and your house might be the perfect match.

 

Here are seven great reasons not to wait to sell your house this holiday season:

1. Buyers are active now. Mortgage rates are historically low, providing motivation for those who are ready to get more for their money over the life of their home loan. 

2. Purchasers who look for homes during the holidays…

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Younger Generations Buying Homes

The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), explains:

Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season…I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation homes given the greater flexibility to work from home.

What’s drawing so many buyers to the market?

As…

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It has been a tough year, but our community is undeniably Lowcountry strong. We have come together through the highs and lows throughout the years, and 2020 has shown us how the community supports one another during the most uncertain of times. 

As we reflect during the Thanksgiving holiday, we are sharing our appreciation for something everyone in our community loves: our unique and beautiful naturescape. Those of us lucky enough to call the Lowcountry “home” have the priceless ability to maintain our deep connection to nature, even during a worldwide pandemic. With limitless access to secluded outdoor spaces, we’re feeling especially grateful for the beach days, picturesque marshlands, and endless walking and biking trails. 

This year, we slowed…

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Hilton Head Real Estate Update | October 2020

October continued to be busier than the calendar normally suggests. Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. Multiple offers remain a common occurrence in many areas, keeping housing hot while the temperatures continue to fall.

New Listings were up 5.5 percent to 711. Pending Sales increased 55.8 percent to 712. Inventory shrank 41.9 percent to 1,316 units.

Prices moved higher as Median Sales Price was up 10.7 percent to $395,000. Days on Market decreased 2.7 percent to 142 days. Months Supply of Inventory was down 53.1 percent to 2.3 months, indicating that demand increased relative to…

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Hilton Head Area Real Estate Market Report

Housing Supply Outlook - October 2020

Interest rates set new record lows again in October, and are helping to maintain buyer purchasing power in the face of rising home prices driven by multiple offers across many segments of the market. While seller activity in some segments has improved, available inventory remains tight in many areas. For the 12-month period spanning November 2019 through October 2020, Pending Sales in the Hilton Head region were up 24.2 percent overall. The price range with the largest gain in sales was the $650,001 and above range, where they increased 81.6 percent.

The overall Median Sales Price was up 9.7 percent to $356,500. The property type with the largest price gain was the…

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