The State of the Sea Pines Ocean Oriented Beach Homes Real Estate Market
This Sea Pines Ocean Oriented Beach Homes 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. Sea Pines beach homes for 2016 are down compared to 2015: 32 homes closed compared to 37 sold a year ago. However, the dollar volume is up to $54.2M from $52.2M. The average price of the beach homes sold so far in 2016 is $1.69M, versus $1.41M in 2015. Supply and demand: there are currently 52 homes listed for sale with an average of 2.6 selling per month over the last twelve months. That translates into a 22-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.