We had 10 homes go under contract on Hilton Head Island last week.  Of the 10 homes that sold; 7 were listed under $500,000, one was priced at $689,000, one at $1,300,000 and one at $1,350,000.  By comparison, I went back to 2005 and there were 38 home sales in this same time period.

The biggest contrast was in villa sales.  We had 7 villas sell last week – 4 under $200,000, one priced at $225,000, one at $499,000 and one at $599,000.  We had 57 villas sell in this same time period in 2005. 

There were no lot sales on Hilton Head Island.  This is the 3rd week in a row we have not had any sell on Hilton Head Island.  In comparison, we had 10 lots sell during this same time period in 2005.  If you break those numbers down, we had 17 sales in 2009 versus 105 sales in 2005 – this is quite a difference.

What does this mean?  If you are a seller, it is a tough market, but if you are a buyer it is a great time to buy and there are some great opportunities available.