HAS THE HILTON HEAD ISLAND REAL ESTATE MARKET STABLIZED?

Posted by Rick Turner on Saturday, May 1st, 2010 at 10:39pm.

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.

monthly_sales_chart_1650

Rick

Rick Turner has been one of the top Realtors in the Hilton Head Island-Bluffton-Beaufort area for over 30 years. He loves being involved in community activities and spending time with his lovely wife. In his free time his wife and he thoroughly relish spending time with their children and grandchildren.

Rick Turner

Turner/Rudd Team

Engel & Volkers Hilton Head Island - Bluffton

Mobile: 843-816-0796

E-mail: Rick.Turner@evusa.com

Website: www.turnerruddteam.evusa.com

1 Response to "HAS THE HILTON HEAD ISLAND REAL ESTATE MARKET STABLIZED?"

Real Estate Vietnam wrote: At least there are many sales coming our way. We have to be patient and things will go smoothly again. Posted on Wednesday, October 27th, 2010 at 2:31am.

1 Response to "HAS THE HILTON HEAD ISLAND REAL ESTATE MARKET STABLIZED?"

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