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The State of the Colleton River Real Estate Market- January 2017

Tuesday, January 31st, 2017 at 9:22am Engel & Völkers Hilton Head Island - Bluffton and Beaufort

The State of the Colleton River Real Estate Market

This Colleton River report shows 2016 in review. Home sales in 2016 compared to 2015, supply and demand, how the Hilton Head Island-Bluffton housing market is doing, homes for sale and more. Colleton River Plantation Club’s numbers were mixed in 2016: 22 homes closed, down from 25 in 2015. The total dollar volume of homes sold in 2016 though was $21.343M, up from $18.826M in 2015. Supply and demand: there are currently 32 homes listed for sale with an average of .7 homes selling per month over the last six months. That translates into a 45.7-month supply, considered by industry experts to be a strong buyer’s market. 

The Hilton Head Island-Bluffton housing market is on fire. Home sales continue to set all-time records according to statistics from the Hilton Head Area Multiple Listing Service, which includes Hilton Head Island, Bluffton, Okatie, Daufuskie Island, Hardeeville and parts of Beaufort and Ridgeland. In the Boom Years of 2004-2006 prior to The Great Recession, home sales in 2005 set a new annual record of 2631 homes sold. In 2016, though, that record was shattered with 3194 homes sold, the highest year on record. 

 

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