WOW! In the first three quarters of this year 1712 homes have sold in the Hilton Head Island area, and the year is not over yet. This number is 9% higher than in the pre-recession year of 2006 and 10% more than the number sold in 2011. There are a couple of reasons for seeing these types of numbers in sales.
Historically Hilton Head is the last market to experience recession and the first to come out of it. We could credit this to the fact that the area is not only a premier vacation destination; it’s also one of the top retirement destinations in the country. Evidence of this comes from the South Carolina Association of Realtors. For three years now they have reported that the Hilton Head Island area has been the hottest real estate market in the state.
This leads us to the second reason that this market has been soaring. Baby Boomers are stampeding toward retirement in record numbers, and according to recent studies, 42% of them say they want to retire to the Southeastern US. Here’s the amazing impact of the Boomer surge: for almost two decades prior to 2011, 3300 people in the US turned 65 every day. Starting in 2011, the first wave of the Boomers started turning 65 to the tune of 10,000 a day! That means up to 4200 Boomers are looking for homes in the Southeast. No matter how you do the math this very easily explains why there has been a huge influx of people moving to the Hilton Head area.
No matter how you look at it, sales of homes in the Hilton Head area are at a 7 year high, and I believe they will go even higher next year. So if you’ve ever thought about purchasing in the Hilton Head area, this may be the best time ever to jump into the market. Visit our MLS search engine, www.HiltonHeadRealEstateSearch, to find properties of interest, and email me or give us call at (843) 816-0796 with your questions, or to schedule an appointment. Rick Turner and Associates - Expect more. Get more.
Leave A Comment