The numbers are in. The results in the Hilton Head area MLS show that real estate sales in the first quarter of 2010 have increased 59% over the first quarter of 2009. In the first quarter of 2009 there were 366 real estate purchases versus 583 in the first quarter of 2010.
A huge indicator of market stabilization is the chart below, showing that since June 2009 the Hilton Head MLS has averaged over 200 transactions per month. The market bottomed out in November 2008 through March 2009 where the sales pace averaged just over 100 transactions per month.
The Hilton Head area MLS encompasses the following areas in southeastern South Carolina: Hilton Head Island, Daufuskie Island, Bluffton, Okatie, Hardeeville, Beaufort, Beaufort County and Jasper County.
Median prices have decreased 13% from $242,000 in the first quarter of 2009 to $210,000 in the first quarter of 2010.
With the sales pace up and the prices down, it is an excellent time to purchase.
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