Wow! For the third month in a row the Hilton Head Island and Bluffton real estate market is the #1 market in South Carolina. MLS sales of homes and villas in the first quarter of 2010 are up 63.8% from the first quarter of 2009. No other market in the state even came close. Transactions increased from 320 in 2009 to 524 in 2010.
The next two best markets in SC are the Coastal Carolina's (Myrtle Beach) which is up 44.4%, and Beaufort and Aiken markets (tied) which are up 36.7%. See the table below from the South Carolina Association of Realtors.
We're feeling it in a big way. Last year we at Rick Turner and Associates sold 5 properties in the first quarter. This year it was 21! People are flying in from all over the country to take advantage of buying a piece of paradise at unprecedented low prices and 1950's interest rates.
One of our clients doesn't need a home here for three years, but bought now for about a $300,000 discount. With our strong rental market, they will rent it until they are ready to move here.
The real estate market here has definitely bottomed out. If you're contemplating buying here in the next several years, for your sake, please buy now. You'll be glad you did!
Also, check out this story from today's Island Packet.
Posted by Rick Turner on
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