Port Royal Plantation home sales were up 10% from last year!
Summer is here, the weather is warm, the turtles are making their nests, the bikers have overtaken the trail ways and Hilton Head Island Real Estate is Hot!
Port Royal Plantation home sales were up 10% from last year – 22 homes sold this year compared to 20 the year before. There are 36 active homes, 10 homes under contract and 5 sales for the month of May (6 sold May 2017). The average days on market YTD is 130 days and sellers are getting an average of 94.5% of their asking price. Median price dropped to $611,250. Most of the lackluster performance this year is a result of low inventory and next month will look better once the pending sales close. There are 16 Lots for sale in Port Royal Plantation with 4 sales so far this year and increase of 300% from last year.
We have listed an excellent waterfront property located at 8 Heyward Place. This 5 bedroom 51/2 bath home was custom built in 2001. The property offers 118 feet on the Ocean on ¾ acres and room for a pool. The last oceanfront lot closed at $2 million, which makes this home a good investment at $2,295,000. It’s your chance you make your oceanfront dreams a reality!
The Big Picture
Hilton Head Area real estate activity has continued its upward trend in a number of sales and median sales price. Although housing supply is low, there are signs of improvement for new listings. Sellers are beginning to come out of hibernation while new build projects are taking shape with more regularity. Many sellers and builders are in a good position for financial gains, as the economy continues to improve. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months. In addition; buyers are encouraged to act now as they become more aware of increasing mortgage rates.
Let’s Get Started
As residents and owners of island property, with a combined 36 years of experience, Becky and Monica has a vested interest in the future and the success of our community. Herman & Davis Properties offers you their wealth of knowledge with regards to staging your home, timing your sale for maximum value, proper market positioning, and current market trends. Mistakes are costly and EXPERIENCE COUNTS in this market! Please give Herman & Davis Properties the opportunity to assist you in buying or selling your property today!