2013 was a bit of a disappointment for Hilton Head Island oceanfront home sales. Throughout the year, 14 oceanfront homes were sold at a median sale price of $2,037,500. In only three of the last ten years have there been more oceanfront homes sold in the Hilton Head area. The peak year was in 2007 when 22 oceanfront homes were sold. Surprisingly, while total home sales in the Hilton Head area in 2013 were the highest EVER with 2,730 sales, oceanfront home sales actually dipped to 14 from 18 sales in 2012.
Hilton Head Oceanfront Home Sales Over the Past 10 Years
To demonstrate the relative success of oceanfront homes in the Hilton Head Island real estate market over the past 10 years, I've provided a graph below comparing the number of home sales each year from 2004 through 2013. As you can see, 2013 was down somewhat from the previous year and tied for fourth best among the last ten years.
Number of Hilton Head Oceanfront Homes Sold Over the Past 10 Years
The Benefits of Owning Oceanfront Property in Hilton Head
Always some of the most sought-after real estate, oceanfront homes in Hilton Head are in high demand. These beautiful homes offer ocean views and direct access to the beach. Unlike most wind-swept islands, Hilton Head is known for its lush tree cover right out to the oceanfront dunes.
Hilton Head Island is the second largest island on the East Coast and provide 12 miles of spectacular beachfront living along the Atlantic Ocean. Most of the beachfront contains single family homes and there are no beachfront roads. Therefore, Hilton Head oceanfront real estate is not only beautiful and serene, but also private and undisturbed. Thus many oceanfront homeowners are able to generate lots of rental income from the many families that rent out their homes for beachfront vacations.
Some of the most popular communities are Folly Field, Forest Beach, Palmetto Dunes, Port Royal, and Sea Pines oceanfront homes.
Best of all, the seclusion that comes with Hilton Head Island oceanfront real estate doesn't limit the luxuries and cultural opportunities of residents. Outside the private residential enclaves of some of the best restaurants and shopping available in South Carolina. Some of the finest cultural events here include high-quality Broadway plays at the Arts Center of Coastal Carolina and the famed Hilton Head Symphony Orchestra. Hilton Head is also home to dozens of world-class golf courses and the largest annual outdoor, tented wine tasting event on the East Coast.
Hilton Head Oceanfront Home Prices Throughout The Years
Take a look at the chart below which displays home prices for Hilton Head area oceanfront home sales over the past 10 years from 2004 to 2013:
Median Prices of Hilton Head Oceanfront Homes Over the Past 10 Years
As you can see, median oceanfront home prices in Hilton Head were incredibly low in 2013. Prices peaked in 2006 at $5,250,000 and hit bottom last year at $2,038,000. With the economy and the real estate market on the rise nationally, it would seem that prices probably did hit bottom last year and we can expect to see them begin to rise again in 2014 and beyond. Amazingly, median Hilton Head oceanfront home sale prices are 61 percent below the peak set in 2006. With the national and local real estate market on a strong upswing, I'm convinced IT IS AN EXTRAORDINARY TIME TO INVEST IN AN OCEANFRONT HOME ON HILTON HEAD ISLAND!
2014 is A Great Year to Invest in A Hilton Head Oceanfront Property
Have you heard people lament about missing out on an incredible opportunity or investment? Don't be one of these people and miss this incredible opportunity. Oceanfront real estate is some of the most valuable and sought-after real estate anywhere in the world, and Hilton Head Island's oceanfront properties offer luxury and seclusion. No matter who you team with for your real estate representation, please don't delay in your home buying goals. Start your Hilton Head Oceanfront Home Search now and contact Rick Turner and Associates to reach the best Real Estate Team on Hilton Head Island.
Until next time,