While the national real estate market is very positive, by comparison, our local Hilton Head Island-Bluffton area market IS BOOMING. Home sales for the first three quarters of 2013 are the BEST first three quarters ... ever! We're even kind of blown away.
This incredible pace of home sales - which far exceeds national figures - speaks volumes about just how special the Hilton Head area is. See for yourself in the Multiple Listing Service (MLS) graph below.
The Hilton Head Real Estate Market And National Data
The strength of both our local and the national market are remarkable, as shown in the following statistics from the National Association of Realtors and the Hilton Head Area MLS:
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Compared to the first 3 quarters of 2012, home sales have increased 14% in 2013. In the same time period, sales have jumped from 1733 homes to 2074 homes 2012 and 2013 respectively.
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National homes sales are also up 13.2% over a year ago and the median home price is up 14.7%.
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The median price of Hilton Head area homes has increased to $268,158 in 2013 from $250,000 in 2012 - an increase of 7.3%! (See graph below for more details).
Median Prices Homes Sold In The Hilton Head Area MLS From 2007 Through 2013
The Ideal Time for Buyers
According to Freddie Mac, the national average rate for a 30 year, fixed-rate mortgage is still historically low at 4.46% in August. Rising home values and increased sales combined with low interest rates are continuing to fuel what is an already amazing market in the Hilton Head area.
If you were waiting for just the right time to buy and catch prices on the upswing, then now is your moment! Log onto the best real estate search engine in the area, HiltonHeadRealEstateSearch.com, and select some properties that pique your interest. Then contact us with your questions or to schedule an appointment. We will look back a year or two from now and realize this fall was an incredible time to buy real estate: low, low interest rates and rock-bottom, but rising, prices! You cannot afford to wait!