Hilton Head Island Real Estate Market Update: April 20, 2009 – April 26, 2009
By James Wedgeworth on April 28th, 2009Last week we had 78 homes, 32 villas and 35 lots come on the market.
The Hilton Head MLS had 42 home sales last week; 18 on Hilton Head Island and 24 in the Bluffton area. Following is the breakdown of home sales on Hilton Head: 4 in Sea Pines, 2 in Palmetto Dunes, 2 in Port Royal, 6 in Hilton Head Plantation, 2 in Indigo Run, one in Spanish Wells, one in Hilton Head Island off plantation areas.
We also had 14 villas and 3 lots sell.
Even though activity is up from the last several months, we are still seeing too much new inventory on the market. Real Estate supply versus demand is still putting a strain on prices.