The Housing market in the Hilton Head Island area is surging. Not only is the real estate market as a whole surging in the Hilton Head area, so also are luxury home sales. The number of homes sold for over $1M are up from 87 sold in the first 10 months of 2011,to 99 in 2012, which is a 14% increase. Here are the specifics.



o   87 homes sold for total of $149.8M

o   69 homes in the $1M’s

o   12 homes in the $2M’s

o   2 in the $3M’s

o   2 in the $4M’s

o   2 over $5M



o    99 homes sold for total of $177.9M

o   75 homes in the $1M’s

o   13 homes in the $2M’s

o   6 in the $3M’s

o   3 in the $4M’s

o   2 over $5M

Even more compelling for the luxury home buyer is that the average price is up 4.4%. With the real estate market expected to continue improving, high-end buyers should strongly consider purchasing this winter to avoid higher prices after the strong spring market. By the end of spring, prices could easily be up another 4.4% which would mean for the average luxury home the price would be about $79,000 higher. That’s a lot to pay for.

AND GET THIS! Banks are still giving money away. In the high-end jumbo market, buyers can borrow up to 80% at:
·         3.5% for a 30-year fixed-rate loan,
·         Or 2.65% for 10/1 ARM (30-year amortization, rate is fixed for the first 10 years and then floats annually).

Luxury home buyers are urged to take advantage of today’s once-in-a-lifetime reduced prices before they rise any further, and today’s historic low interest rates. Visit our website, www.HiltonHeadRealEstateSearch.com, to find properties of interest, and email me or give us a call at (843) 816-0796 with your questions, or to schedule an appointment. Rick Turner and Associates – Expect More. Get More.

Posted by Rick Turner on
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