This June 2017 Palmetto Dunes real estate market report shows how the Hilton Head Island-Bluffton real estate market is doing, compares home sales from previous months, discusses supply and demand and shows the status of the homes in Palmetto Dunes.
Palmetto Dunes’ sales in the first five months of 2017 are comparable to last year: 15 homes closed this year compared to 18 homes last year. The first five months’ total dollar volume of homes sold in 2017 was $19,252,500, down from $20,997,400 in 2016. Supply and demand: there are currently 73 homes listed for sale with an average of 3.00 homes selling per month over the past five months. That translates into a 24-month supply, considered by industry experts to be a Buyers market. As of June 15th, 2017, there were eight homes pending/under contract. In the lot realm, six lots closed this year compared to only two in the first five months of 2016. Additionally, there is one lot pending/under contract and 14 lots marketed for sale.