This August 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’ first seven months of 2017 sales are down slightly compared to last year: 23 homes closed this year compared to 25 homes last year. The first seven months’ total dollar volume of homes sold in 2017 was $29,848,500, up from $27,705,875 in 2016. Supply and demand: there are currently 74 homes listed for sale with an average of 3.29 homes selling per month over the past seven months. That translates into a 22-month supply, considered by industry experts to be a buyer’s market. As of July 15th, 2017, there were 11 homes pending/under contract. In the lot realm, seven lots closed this year compared to only three sales in the first seven months of 2016. Additionally, there are three lots pending/under contract and 14 lots marketed for sale.