Herman and Davis Properties

Category: Homeowners

  • October 2025 Hilton Head and Bluffton Real Estate Market Update

    October 2025 Hilton Head and Bluffton Real Estate Market Update

    Fall is quickly approaching, bringing with it one of the best times to enjoy Hilton Head Island. The pace is a little slower, the crowds lighter, and the weather couldn’t be more perfect. From the Italian Heritage Festival and Gullah Food Festival to the Hilton Head Island Concours d’Elegance in October, there’s no shortage of events and celebrations to keep the season lively.This year has been a very different story for real estate compared to last fall. The Herman & Davis Team has been busier than ever, and the energy among buyers feels completely renewed. With no election distractions as we saw in 2024, 2025 has brought a fresh mindset—buyers are prepared and ready to move when the right property becomes available. The story remains consistent on Hilton Head Island: inventory continues to climb, up 33% year-to-date, with new listings increasing 14%. This additional supply has supported a 15% jump in sales. Even with more homes coming to market, inventory remains tight at just over 3 months, keeping conditions favorable for sellers. Prices continue their upward trend, with the median home price rising 8% so far this year to $1,160,000. Average days on market have edged up slightly to 60 days, reflecting a pace that’s still historically strong.

    Bluffton real estate market shows a steady pattern. Inventory rose by only 5.4% year-over-year, with new listings up 9.3%. Sales activity gained just 1.5%, while the median price held steady around $560,000. With approximately 5 months of inventory, Bluffton now represents what many would describe as a “balanced market,” offering opportunities for both buyers and sellers.

    As the saying goes, “Timing is everything.” If you’re considering selling, let’s connect early in the process. Presentation matters more than ever, and making sure your home stands out is the key to achieving top dollar. Our team can provide expert guidance, valuable tips, and connect you with trusted professionals to ensure your home shines in today’s market. Don’t wait—reach out to us today and let’s get started.

  • February 2025 Hilton Head Real Estate Market Report

    February 2025 Hilton Head Real Estate Market Report

    HILTON HEAD REAL ESTATE UPDATE Inventory Remains the Hot Topic in 2025

    The real estate market continues to make headlines, with inventory on the rise—up 11.1% in Hilton Head and 28.5% in Bluffton. Homes are spending an average of 65-75 days on the market, reflecting a shift in market dynamics. Hilton Head’s median home price has surged to $1,350,000, marking a significant 25% increase from last year. 

    In contrast, Bluffton’s median price has adjusted to $520,000, reflecting a more moderate 6.3% decline. Residential sales are up, climbing 25% in Hilton Head and 18.7% in Bluffton, signaling that many buyers have finally moved off the sidelines into the game. While the number of new listings has dipped compared to last year, we are hard at work preparing homes for the market. Expect to see an uptick in listings by February and March—perfectly timed for the busy spring season. 

    At Herman and Davis, we pride ourselves on delivering personalized attention and five-star service to every client. Our strategic, customized marketing plans ensure maximum exposure, regardless of price point. If you’re considering buying or selling, give us a call—our results speak for themselves.

  • November 2024 Hilton Head Real Estate Market Report

    November 2024 Hilton Head Real Estate Market Report

    Fall has finally arrived in the Low Country.  As we settle into cooler weather, oyster roasts, and football, the real estate market in Hilton Head and Bluffton continues to see a mixture of demand, selective buyers, and opportunities for both sellers and buyers.

    While the market has cooled slightly from last year’s high pace, demand remains strong, with well-priced homes often moving quickly.  This year, the Herman & Davis Team has seen even greater activity than last year, with more listing appointments and a noticeable increase in both inventory and new listings. Now that the election is behind us, we hope buyers and sellers will feel more confident in moving forward with plans and decisions for their housing futures.

    How’s the market? Inventory has risen significantly, with a 16% increase in Hilton Head and a 33% increase in Bluffton. Days on market have extended by over 20%, while Hilton Head’s median price stands at $1,080,000—up 5.4% from last year. In Bluffton, the median price has reached $555,000, marking a more modest 2.35% increase. Interestingly, over 15% of listed properties have been expired or withdrawn, indicating that many sellers are not meeting their asking prices. Altogether, these trends suggest a shift toward a more buyer-friendly market.

    The team at Herman and Davis gives personal attention and 5-star service to each and every client, along with a strategic and customized marketing plan for their property.  Regardless of price, every client enjoys widely recognized top-quality marketing that excites buyers and generates interest in their home.  If you are thinking of selling, give us a call.  Our results speak for themselves!

  • September 2024 Hilton Head Real Estate Market Update

    September 2024 Hilton Head Real Estate Market Update

    Wrapping up the summer season with full speed into fall…

    It feels like Fall, summer is winding down, kids are back in school, football season has arrived, and the “locals” have once again taken control of the island.  Please find enclosed your August 2024 market report letter.

    The median home prices in Hilton Head Island and Bluffton have seen an increase over the past year. As of August 2024, the median sales price for a single-family home in Hilton Head remains at $1,050,000 which is a 5% increase from last year at this time. Bluffton’s median price of $555,000 reflects an increase of 2.45%.  Inventory levels remain relatively tight despite a 9.5% increase from last year in Hilton Head and a 12.5% increase in Bluffton. Homes are staying on the market longer, and sellers are seeing lower list-to-sale ratios. Overall, the market is showing signs of softening and returning to more typical conditions. Consumer confidence has dipped compared to the past few years, with more offers now including additional contingencies. However, with interest rates beginning to decline, both buying and selling activity has picked up, presenting new opportunities

    Now more than ever, it is vitally important to work with a seasoned Real Estate Professional.  Experience, a successful track record, and extensive market knowledge make THE DIFFERENCE in this market.  We take the sale of your home very seriously.  We are happy to share our personalized approach to marketing and our pricing strategy to earn you top dollar.  Our team is here to provide you with guidance as we move into the final months of the year.

  • Hilton Head Island Real Estate Market Update – August 2024

    Hilton Head Island Real Estate Market Update – August 2024

    Real Estate Market Report

    The real estate market in the Low country continues to show robust activity driven by a combination of lifestyle appeal, and sustained interest from both local buyers, retirees and out-of-state investors.

    The median home prices in Hilton Head Island and Bluffton have seen a steady increase over the past year. As of July 2024, the median sales price for single-family home in Hilton Head is $1,050,000 and Bluffton $552,950 reflecting a Year-to-date increase from last year of 5.53% in HHI and almost 2% in Bluffton.  Inventory levels remain relatively tight, with a slight increase (15% – HHI and 10% in Bluffton) in new listings compared to the previous year.

    Looking ahead to the remainder of 2024, what has become very important is home preparation.  Staged, upgraded, and modernized homes are experiencing significant benefits, achieving the highest sales price and the quickest market time.  Another big topic is interest rates.  They have slightly decreased and are expected to adjust again in the fall. The Federal Reserve is cautious about keeping rates too high for an extended period as it may hinder economic growth.  Pricing your home competitively is crucial in this market.  Due to the limited inventory, some Sellers are often tempted to initially overprice their property. This strategy frequently results in significant price reductions prolonging the days on market.

    Herman and Davis Properties has been exceptionally busy, assisting 25 families with their buying and selling needs, resulting in over $35 million in sales in just the first half of the year alone.  If you are curious about your home’s value, please call us.  It’s never too early to strategize, and we would love to meet with you.

  • Hilton Head Real Estate Market Reflection – January 2024

    Hilton Head Real Estate Market Reflection – January 2024

    FROM WHERE WE SIT…

    In just a blink of an eye, another year has come and gone, and we hope you made some great memories! While memories can be fleeting, there is one thing that isn’t, and that’s our commitment to being your trusted resource for all things real estate! As is our tradition, we are wrapping up 2023 with our annual State of the Market Report, with a recap and predictions of 2024.

    2023 – WHAT WE CAN BRAG ABOUT

    Hilton Head hit the highest median home sale price on record this year, with an average of $1,035,000!

    • Homes that had the best market response were renovated and staged for sale. Dated homes sold as well, but at reduced prices to price-conscious buyers willing to accept the cost of an eventual upgrade.
    • Homes went from being listed to sold in an average of 43 days, which is still a fast market time!
    • Inventory continues to be limited; currently, we have 176 homes listed for sale.
    • Demographics are favorable, as baby boomers continue to drive our market. A flood of people are moving south, away from highly taxed states. Some think our home prices are bargains. They discover Hilton Head, often by friends, and fall in love with the beauty of our area, years-round sunshine, and friendly people.

    2023 – WHAT WE CAN MOAN ABOUT

    • The purchase price of owning a home has dramatically increased.
    • Insurance rates and tripled, especially in areas impacted by coastal storms and flooding.
    • The increase in home prices has caused assessed values to go up and property taxes have risen significantly.
    • Interest rates went up to 8% this year creating a pushback.
    • Although many buyers pay cash, the luxury market is still sensitive to interest rates. Some people have been on hold making non-essential “around the neighborhood” moves. They don’t want to trade their 3% mortgage for a 7% one. We don’t blame them but, at some point, life changes will dictate moves, and that motivation will outweigh the trade-off. In perspective, it has been 60+ years since interest rates were at 4%. Who will wait 60 years for it to happen again?
    • A glimmer of hope…2024 predictions vary, but interest rates should adjust downward, maybe to a low of 4.6% by this year.

    IN A NUTSHELL…

    • Looking back, the 2023 market normalized.
    • Looking ahead, the 2024 market will be slow and steady.

    There will be no shortage of buyers for Hilton Head with the flood of people wanting to move to our area. Uncertainty about the economy, upcoming elections, and global conflicts will continue to affect buyer confidence. Homes that are upgraded will command top dollar and those that are dated will need to adjust their price.

  • Hilton Head Real Estate Market Reflection – September 2023

    Hilton Head Real Estate Market Reflection – September 2023

    SUMMER HAS COME TO AN END…

    We are at the end of summer, especially from the tourism standpoint, and our island should start to slow down with kids up north going back to school after Labor Day. It will be a nice change getting into our favorite restaurants, enjoying less crowded beaches, a little less traffic on our island and especially the cooler weather.

    From our real estate perspective, the number of sales since the start of the year are down 18-20%. This is due to a combination of the lack of inventory and higher interest rates. Home prices have remained at record highs. Our average sales price verses asking price has dropped 3-5%, showing Sellers are becoming more negotiable, and our average days on market has increased, which are both signs of a market in transition. It will be interesting to see if the FED will continue with rate increases. We are watching the market closely.

    You should have received your 2023 tax reassessment notice in the mail. It’s important to know that your “Capped Value” in the notice is the number used to calculate your property’s taxable value for the next 5 years, not the “Assessed Value”. Assessment ratio indicates whether your property is primary use (4%) or (6%) .  Using the tax calculator found on the Beaufort County website incorporates the millage for your area and allows you to calculate your tax. There will be a statutory rollback of millage so we anticipate that millage will decrease by 6-8%, and actual 2023 tax bills will be less than the projection provided by the tax calculator which uses 2022 millage rates. Please call us should you have any questions!

    Thinking of trading up, trading down, or just moving around town? Now more than ever, you need experienced agents like Herman & Davis to help you navigate the changing landscape! Whether you are buying, selling, or both, it’s never too early to meet with us. We are always happy to sit down with you to discuss, strategize, and develop a plan that will meet your goals. 

  • Real Estate Market Trends – Past, Present, and Future

    Real Estate Market Trends – Past, Present, and Future

    Reflections and Predictions

    In 2022 our market underwent a major shift, especially in the last half, as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and softened home prices. Prior to the almost-sudden change, the red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. Current market conditions have provided us an opportunity to become re-educated about what a ‘typical’ housing market looks like. While 2022 may be remembered as a year of housing volatility, 2023 will most likely become a year of long-lost normalcy returning to the market. Mortgage rates are expected to stabilize while home sales and prices moderate after recent highs.

    Key Observations

    Buyers will not face the extreme competition that was commonplace over the past few years. The housing market, once adjusted to the new normal of higher mortgage rates, will benefit from continued strong demographic-driven demand relative to an overall, long-running shortage of supply. Sellers are choosing not to trade up or sell and take on new mortgages, as they could end up with rates 2-3% points higher than the ones they have now. This should protect home prices from falling. Relatively, we expect inventory levels in Sea Pines to remain low, as the demand fueled by demographics and the after-effects of the Pandemic continue.

    The Great Reset

    2023 will bring lots of variability in how housing markets adjust, according to Bright MLS Chief Economist, Lisa Sturtevant. There will be a lot of resetting expectations for both buyers and sellers. There will be variations from market to market, and in different price ranges. MLS data shows 40% of sellers have adjusted their home price downward or offered concessions. This period of acceptance will take some time. Sellers will need to process all of this, and that is underway now. It’ll take time, probably into the first quarter of next year, to fully digest the “new normal.” Regardless, prices will still remain above 2019 levels.

    The Numbers

    The local Hilton Head Association of Realtors and MLS report market wide the inventory levels are up 88.6% with the largest gain in the Single Family segment (up 99%). That conveys into 2.1 months’ supply for homes and 1.9 months’ supply for condos/villas. Reminder: a normalized market is 5-6 months’ supply. There has been a 15% increase in median price for SFH (homes) for 2022 and 20% increase for condos/villas for the year. However; pending sales in the Hilton Head region is down 24.1% overall, and we are seeing more and more buyer incentives in the form of concessions and price reductions. Turnkey properties remain in high demand; outpacing supply, which puts pressure on asking prices for “fixer-uppers.” If sales continue to slow, and inventory increases; housing prices will soften over the next 12 months. Good News; forecasters do expect the Federal Reserve will end its path of rate increases at the end of the first quarter; which should lead to sustainable declines for mortgage rates in the second half of 2023 and into 2024.

    Bottom Line

    We encourage you to keep the perspective that, even if prices do come down a bit, we are way ahead of where we were prior to the pandemic. If you’re looking to buy or sell a home this year, the best way to ensure you’re up to date on the latest market insights is to partner with a trusted real estate advisor who has longevity and a track record of success in both up and down markets. Becky Herman and Monica Davis, along with the power and resources of Charter One Realty, an iconic market leader in the Hilton Head Area, and their affiliation with three top luxury real estate networks, will be able provide you with a unique perspective and advice that will serve you well. Call them for a confidential consultation and market evaluation related to your property!

  • Planned Unit Developments on Hilton Head: The Additional Costs to Be Aware Of

    Planned Unit Developments on Hilton Head: The Additional Costs to Be Aware Of

    A Planned Unit Development is a community of single-family homes, and sometimes condos or townhomes, where every homeowner belongs to a homeowners association (HOA). These neighborhoods typically charge a fee in exchange for the maintenance of common areas and amenities. The amenities provided can include a neighborhood pool, a gate, security, restaurants, golf courses, event venues, and more. Although all the above is very exciting, these luxuries do come at a cost.

    It is easy to know that you have entered a Planned Unit Development as you may come across a gate, the roads may be different, and the vegetation is expected to be well-kept. Many neighborhoods charge an initiation/transfer fee and/or a one-time capital contribution fee to be paid on the day of purchase at the closing table. When determining your cash to close, these figures are essential as they range from $0 to $70,000.

    90 Lawton Rd 6
    Sea Pines Resort is an example of a Planned Unit Development.

    In addition to an initiation/transfer fee, Planned Unit Developments also charge an annual Home Owners Association fee, which ranges from $0 to $23,565. When building a monthly budget, this number is also imperative as this added expense is a figure that can alter one’s lifestyle or qualification.

    Condominiums have management companies to facilitate the structural and cosmetic integrity of the condominium building as a whole, they manage the amenities as well as maintain insurance for the exterior of the building and the common areas. Individuals owning a condominium pay a regime fee, which can range from $150 to $1,000 monthly, and also be responsible for assessments should any improvements need to be made to the condominium complex.

    Where Hilton Head becomes unique is when an individual purchases a condominium inside of a Planned Unit Development. With this acquisition, the purchaser will be responsible for the condominium regime fee and the HOA fee on a monthly basis. For example, if the monthly condominium regime fee and HOA fees are $850 and $150 respectively the homeowner is now responsible for $1,000 monthly in addition to the principal, interest, taxes, and insurance.

    With many variables surrounding upfront costs, as well as monthly payments, it is imperative to be educated to ensure no surprises unfold a few days before closing. Trust your local partners who can navigate you through the potentially challenging process of buying in the Lowcountry.

    Written by Aaron Benton at Mortgage Network

  • Will the Faceless Lender Survive?

    Will the Faceless Lender Survive?

    2021 was a good year to be in real estate. We saw years of pent-up demand, a desire to leave cities, and years of lower-than-needed home construction all come to a head. With many people working from home, Covid-19 has acted as a catalyst to have people buy their first residence, renovate their current residences, or move to larger homes in better locations. Couple a desire to upgrade with low-interest rates and the housing market has been moving at historic rates of demand exhausting supply.

    Over the last two years, we have seen online lenders acting as call centers enter the market. The individual on the phone takes a consumer’s order, discusses the rate, requests documents, and hopes the company can execute once the file enters underwriting. Once in underwriting, the client’s fate is determined. Without counseling and limited explanation, the file is either approved or denied. If denied the lender stops returning phone calls, disappears, and moves onto their call list leaving all other parties in the transaction with a sour taste, lost time, and sometimes the buyer with a non-refundable earnest money deposit.

    According to the National Association of Realtors, there is 15.5% less inventory than in February of 2021 and the average number of offers on a listing was 4.8. Low inventory has been a topic of many conversations and the desire to land one’s dream home has become a challenge given the competition. Having a plan is imperative and working with a reputable, local lender who has name recognition, is able to call the listing side to support your offer, and allows you to stand out amongst other offers has never been of more importance. The need for a knowledgeable loan originator (who you have the cell phone number) to guide you through this unique and fast-moving real estate market has never been greater.

    Hilton Head Island and Bluffton have many nuances such as Homeowners Association fees, Neighborhood transfer fees, condominium regime fees, flood insurance, and the Hilton Head transfer fee. All of these costs symbolize pitfalls that a non-local lender can get tripped up on and end up surprising you at the closing table with additional costs or crushing the purchase of your dream home altogether.

    With interest rates in-line or better than online lenders stay and trust your local partners who can navigate you through the potentially challenging process of buying in the Lowcountry. We have the experience to ask the right questions, the products to meet your needs, and the service level to make it a stress-free experience!