The Hilton Head Island Multiple Listing Service

Hilton Head Homes Are Selling In Every Price Range

Indigo Run homes for sale are among the best on Hilton Head Island.

Hilton Head homes are selling well at all prices, like this home in Indigo Run.

Homes Priced Less Than $450,000 Are Most Popular

Several sources tell us what buyers want to pay for a home on Hilton Head:

Responses to print ads – there are more responses in recent months.
Responses to on-line listings, also up.
Calls from buyers - my favorite by far, also up in recent months. Nothing beats speaking directly with someone to learn about their interests.
Comments from agents who talk about their experiences.
Hilton Head MLS statistics.
News articles that combine information from the above, like this article.

Opinions about the market based on personal experience can be like like blind men who define the elephant by which part of the elephant they touch. Statistics can be interpreted differently by different people and so all sources of information are significant. Engineers love numbers; everyone likes anecdotes.

I already knew that lower-priced homes were selling well based in part on the first-time home buyer stimulus of recent months, now extended. But, I wasn’t sure about how well higher priced homes were selling. I was happy to see that homes s in all price ranges are selling well on Hilton Head today.

The direction of prices will be for another article. This article does not try to define whether prices are going up, down or sideways except indirectly nor do I try to address the the sale of lots or villas - just houses. It is understood that most of the homes sold in every price range are bargains compared to what they sold for in recent years and even one year ago.

The numbers in the chart below are from the Hilton Head Multiple Listing Service and they summarize homes sales from the entire Hilton Head area, not just Hilton Head Island. Hilton Head means the entire area and this includes more than just Hilton Head Island; it also includes Bluffton, Daufuskie Island, Okatie, Hardeeville and additional outlying areas. For many people today, Hilton Head means everything from Rt 278 to Sea Pines whereas Hilton Head Island means just the Island itself.

Hilton Head Homes Sold in the Last Six Months

$ List Price	Listed	Contingent	Pended	Sold	S/L*	C+P/S**
Under 100,000	37	3	17	24	92	59
100,000-150,000	160	6	35	94	59	44
150,000-200,000	275	5	62	134	59	44
200,000-250,000	195	2	33	86	44	41
250,000-300,000	149	2	26	85	57	33
300,000-350,000	138	1	17	74	54	24
350,000-400,000	135	2	22	67	50	36
400,000-450,000	95	1	10	47	49	23
450,000-550,000	216	2	24	85	39	31
550,000-650,000	208	1	22	46	22	49
650,000-750,000	145	2	17	36	25	53
750,000-1 million	285	4	21	52	18	48
1 million – 1.25M	84	0	8	19	23	42
2.25 million-1.5M	124	0	4	16	13	25
1.5 million – 2M	132	2	2	13	10	31
Over 2 million	172	0	10	20	12	50

*S/L is the ratio of how many homes have sold in the last six months compared to the number of homes listed. The higher the ratio, the more likely that prices will be steady or increase in the future. A low ratio could mean that few homes are selling and prices may have to come down to achieve sales. Most every group of properties shows a strong, healthy ratio of number of homes sold to the number of homes listed.

**C+P/S is the ratio of contingent and pended homes compared to the number of homes sold in the last six months. This says whether the number of homes under contract shows an increase, decrease or no change from the sales velocity of the last six months. Almost all price ranges show an increase in the number of sales and if sustained, could bring higher sales prices.

”Contingent” means that a contract of sale has requirements that must be satisfied before the agreement can proceed to closing. The most common contingencies are a buyer’s satisfactory inspection and that the buyer must qualify for a loan.

“Pended” means that there are no contingencies to the contract of sale or that they have been satisfied and the property will proceed to close. Many agents label “contingent” homes as “pended” but for our purposes, it doesn’t matter.

To get the bargain home that you want in any price range, or devise a winning strategy to sell a house that you already own, please call me , the Hilton Head Gated Communities Specialist today.

The Multiple Listing Service of Hilton Head Island that requires this disclaimer: “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge
The Gated Community Specialist ®
Go Gated Realty ®
Hilton Head Island, South Carolina
Rich@gogated.com
www.GoGated.com
1-800-333-5025
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