It’s hard to believe that it’s August 1st – the summer is flying by on Hilton Head Island.  I thought it might be good to recap what happened in July in the Hilton Head and Bluffton real estate markets.

At the present time there are 4,811 properties listed for sale in the Hilton Head Island MLS; 2,162 on Hilton Head Island.

During the month of July we had 338 properties go under contract in the Hilton Head MLS; 162 on Hilton Head Island.

The 162 sales on Hilton Head broken down by area were as follows:  35 in Sea Pines Plantation, 16 in Forest Beach, 4 in Shipyard Plantation, 5 in Wexford Plantation, one in Long Cove, 27 in Palmetto Dunes, 6 in Folly Field, 5 in Port Royal, 21 in Hilton Head Plantation, 2 in Palmetto Hall, 7 in Indigo Run, 2 in Windmill Harbour and 31 in off plantation areas.

Stay tuned for more updates on the market and watch for my Friday “deal of the day” for the best properties available on the market.

It’s been a while since I’ve done an update on the real estate market on Hilton Head Island; so here we go!

During the month of February we had 71 home sales, 68 villa sales and 15 lot sales on Hilton Head Island.  Of the 154 sales on Hilton Head; 27 in Sea Pines Plantation, 17 in Forest Beach, 3 in Shipyard Plantation, 4 in Wexford Plantation, one in Long Cove Club, 18 in Palmetto Dunes, 15 in Folly Field, 5 in Port Royal Plantation, 16 in Hilton Head Plantation, 3 in Palmetto Hall, 4 in Indigo Run, one in Spanish Wells, one in Windmill Harbour and 40 in off plantation areas. 

During this same time period in 2010 we had 98 home sales, 57 villa sales and 10 lot sales.

Some good news in the market; Yahoo Finance reported yesterday that mortgage applications are at their highest level in 3 months.  Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 15.5 percent in the week ended March 4. 

Let’s hope that this real estate market is turning around!

Following is an update on the Hilton Head real estate market last week: November 1st-7th, 2010. 

We had 7 home sales last week on Hilton Head Island; 3 in Sea Pines Plantation, 3 in Hilton Head Plantation and one in Ashton Cove (Hilton Head off plantation).  There were 23 sales in the Bluffton/Beaufort areas.   

We had 11 villa sales on Hilton Head Island between November 1st and November 7th; 2 in Sea Pines Plantation, 2 in Forest Beach, one in Shipyard, 3 in Palmetto Dunes and 3 in off plantation areas.

Just a quick update on what happened in the Hilton Head Island real estate market last week: October 25th – October 31st.

Last week we had 64 sales in the Hilton Head Island MLS; 36 homes, 6 homesites and 22 villas. 

Following is a breakdown of sales by area: one in Sea Pines Plantation, 6 in Forest Beach, one in Shipyard, one in Wexford Plantation, one in Long Cove Club, 3 in Palmetto Dunes, 5 in Folly Field, 2 in Port Royal Plantation, 3 in Hilton Head Plantation, one in Indigo Run, 2 in Windmill Harbour, 8 in Hilton Head off Plantation areas, 11 in Bluffton off plantation areas, one in Moss Creek, one in Colleton River, one in Rose Hill, 3 in Berkeley Hall, 5 in Sun City, one in Oldfield, 3 in Beaufort and one in Hampton Hall.

Click here to visit my featured listings or to see a list of Hilton Head Island short sale and foreclosure properties.

Here is a brief update on the Hilton Head Island real estate market during the week of October 18th – 24th. 

There were 43 sales last week in the Hilton Head Island MLS; 28 homes, 9 villas and 6 homesites.

Following is the breakdown by area of these sales: 2 in Sea Pines Plantation, 3 in Forest Beach, 2 in Shipyard, 5 in Palmetto Dunes, one in Port Royal Plantation, 2 in Hilton Head Plantation, one in Indigo Run, 5 in Hilton Head off plantation areas, one on Daufuskie Island, two in Bluffton off plantation areas, two in Moss Creek, one in Belfair, one in Berkeley Hall, four in Sun City, one in Oldfield, four in Hampton Hall, four in Hampton Lake, one in Jasper County and one in Barnwell County. 

Of these sales, 10 were foreclosures and 6 were short sales.  Click here to see a list of current foreclosure and short sale properties in Hilton Head Island and Bluffton.

I have had many people ask me how many foreclosures are in our current real estate market.  At the present time there are 134 homes that are in foreclosure in the Hilton Head area; 3 in Sea Pines Plantation, one in Forest Beach, 3 in Wexford Plantation, one in Long Cove, one in Palmetto Dunes, one in Folly Field, 7 in Hilton Head Plantation, one in Indigo Run, one in Palmetto Hall, 2 in Windmill Harbour, 9 in off plantation areas and the remaining in Bluffton. 

Looking at a breakdown by price:

39 are priced under $100,000
23 are priced between $100,000 and $200,000
12 are priced between $300,000 and $400,000
6 are priced between $400,000 and $500,000
5 are priced between $500,000 and $600,000
3 are priced between $600,000 and $700,000
2 are priced between $700,000 and $800,000
one is priced between $800,000 and $900,000
one is priced between $900,000 and $1 million
3 are priced between $1 million and $1.5 million
2 are priced between $1.5 million and $2 million
one is priced between $2 million and $3 million
one is priced over $3 million  (more…)

Spring is here on Hilton Head Island and there are a lot of things going on in the real estate market.  Here is a quick snapshot of what has happened during the first quarter of 2010 in the Hilton Head Island Real Estate market. 

We have had 393 sales on Hilton Head Island from January 1, 2010 through March 31, 2010 (homes, lots and villas).  Area sales are as follows:

Sea Pines Plantation – 41
Forest Beach - 55
Shipyard – 16
Wexford Plantation - 7
Long Cove Club – 3
Palmetto Dunes/Shelter Cove – 50
Folly Field – 20
Port Royal Plantation – 4
Hilton Head Plantation - 60
Palmetto Hall Plantation – 11
Indigo Run Plantation – 18
Spanish Wells - 3
Windmill Harbour – 10
Off Plantation – 95

During this same time period last year there were only 219 sales – so we have seen quite an increase in activity.

One of the agents in the office was showing me the numbers this morning concerning home sales in different areas.  They are as follows:  Sea Pines Plantation – 121, Forest Beach - 18, Shipyard – 7, Wexford – 15, Long Cove - 10, Palmetto Dunes - 45, Folly Field – 5, Port Royal - 35, Hilton Head Plantation - 164, Palmetto Hall - 14, Indigo Run - 37, Spanish Wells - 4, Windmill Harbour - 12, Off Plantation – 63 for a total of 516 sales. 

Villa sales were as follows:  Sea Pines Plantation - 61, Forest Beach - 120, Shipyard – 42, Palmetto Dunes - 98, Folly Field – 53, Hilton Head Plantation - 7, Hilton Head Off Plantation – 124, Windmill Harbour - 1, and Indigo Run - 4 for a total of 510 sales. 

Unfortunately, there were only 47 lots sold on the island during 2009. 

The total home sales volume was $399,000,000, villa sales volume was $133,000,000 and lot sales volume was $20,000,000 for a total of $552,000,000 in sales.

Last week we had 100 homes, 36 villas and 25 lots come on the market in all of Hilton Head Island MLS. 

Of the homes that just came on the market on Hilton Head Island, 14 were in Sea Pines Plantation, one in Forest Beach, one in Shipyard, one in Wexford, 9 in Palmetto Dunes/Shelter Cove, one in Port Royal, 5 in Hilton Head Plantation, 2 in Palmetto Hall, one in Indigo Run, one in Spanish Wells Plantation, one in Windmill Harbour and 6 were in off plantation areas. 

Of the homes that just came on the market in the Bluffton area, 22 were in off plantation areas, 5 were in Moss Creek, one in Colleton River, 6 in Belfair, 8 in Rose Hill, and 14 in Sun City. 

Sales seemed to increase slightly with 19 homes on Hilton Head and 25 homes in the Bluffton area going under contract; 3 in Sea Pines Plantation, one in Forest Beach, one in Shipyard Plantation, one in Folly Field, one in Port Royal, 6 in Hilton Head Plantation, 3 in Indigo Run, one in Windmill Harbour, 2 in Hilton Head Island off plantation areas, 14 in Bluffton off plantation areas, one in Moss Creek, two in Colleton River, 2 in Rose Hill, one in Berkeley Hall and 2 in Sun City.

We also had 12 villas and 3 lots go under contract. 

There are some great buys available and if you are in the market – now is a great time to buy.  Please visit my website at www.JamesWedgeworth.com to view all my best buys in the Hilton Head Island Real Estate market!

We had a total of 8 homes sell on Hilton Head Island last week which is much less than we would normally see this time of year.  Of the homes that sold; 2 were in Sea Pines Plantation, one in Palmetto Dunes, one in Port Royal, two in Hilton Head PLantation, one in Indigo Run and one on Shamrock Circle which is on the north end of the island.  Having this few sales puts a lot of pressure on the island.

We had 96 new homes come on the market so inventory is continuing to increase which is not good for us. 

We had 11 villas go under contract last week – one in Sea Pines Plantation, 3 in Forest BEach, one in Shipyard, 3 in Palmetto Dunes and 4 in off plantation areas.  Of the villas that went under contract, only one was listed above $500,000 – a 3-bedroom Inverness Villa in Palmetto Dunes.

We had 44 new villas come on the real estate market last week. 

We had no lot sales last week and 28 new lots came on the market.

Spring is here and March is traditionally the best time of the year for real estate sales.  Hopefully we will see more activity this coming week because there are more people on the island.  The cold weather has hurt us a little – people usually do not buy a lot of real estate when it is cold on Hilton Head.  We are looking forward to spring right around the corner.