Trends to Consider in Today’s Real Estate Market
March 2021 Issue — Life in Order Special Section
By Jeff Hall
The new year has begun, and with it comes many people who have made buying or selling a home part of their 2021 resolutions. While ongoing unemployment claims remain elevated due to COVID-19, they are substantially lower than what they were during their peak and have had little effect on buyer demand thus far. For the 12-month period spanning February 2020 through January 2021, pending sales in the Hilton Head region were up 35.9 percent overall. The price range with the largest gain in sales was the $650,001 and above range, where they increased 98.6 percent.
The overall median sales price was up 13.8 percent to $370,000. The property type with the largest price gain was the condos/villas segment, where prices increased 17.7 percent to $276,500. The price range that tended to sell the quickest was $100,001 to $225,000 range at 106 days; the price range that tended to sell the slowest was the $650,001 and above range at 180 days—still considered an excellent time frame in which to sell a home in this price range.
Market-wide, inventory levels were down 64.1 percent. The property type, which lost the least inventory, was the single family segment, which decreased 63.9 percent. That amounts to 1.2 months’ supply for single-family homes and 1.1 months’ supply for condominiums and villas.
For many of us, our home is our biggest investment, and a vacation home is the pinnacle of the American dream. When it’s time to sell, a REALTOR® understands you want to get the value you deserve and knows how to make it happen. The best way to achieve this is listing your home with an experienced agent.
Here are five benefits to SELLING with a REALTOR®:
> Sell with a custom marketing plan
> Get your home listed and talked about everywhere,not just in the local paper and on your street.
> Attract buyers via the Internet.
> Have all the paperwork professionally taken care of for you.
> Negotiate with the help of a real estate professional, who understands the market.
Not only is engaging an experienced agent in selling important, but buying the right home can be equally as difficult. However, a REALTOR® can bring comfort, enjoyment and many money and time-saving factors to the search. Working with an experienced REALTOR® brings benefits to the home-buying process due to their knowledge of the market, knowledge of the history of many homes, the intricacies of various neighborhoods, not to mention full access to all the gated communities.
Here are five benefits to BUYING your next house with a REALTOR®:
> Get access to all the listings.
> Know all the facts on properties you’re interested in.
> Negotiate with the help of a real estate professional.
> Finance your home faster.
> Make a solid investment that pays off down the road.
Working with a dedicated agent on your next home purchase will save you time and add professional assurance to every step of the process. With the guarantee of a solid investment, the decision could also make you more wealthy when it’s time to sell. Isn’t that worth calling a REALTOR® today?
1Source: Annual Report on the Hilton Head Housing Market released by the Hilton Head Area Association of REALTORS®
Jeff Hall has been involved in the Real Estate Development and Sales on Hilton Head Island and mainland Bluffton, SC for more than 30 years. Moving to Hilton Head Island in 1989, he became involved in the development and sales of the five-star residential golf community Colleton River Plantation. Once selling out the first phase of Colleton River, which is considered one of the premier golf communities in the United States, Jeff was approached by Sea Pines Company to become project manager and director of sales for the Sea Crest Oceanfront Condominium development on Hilton Head. He is now a partner with Sea Pines Real Estate at The Beach Club and specializes in listing and selling luxury homes and villas throughout the Lowcountry. Jeff thoroughly enjoys life in the Lowcountry and can often be found with his family, friends and clients playing golf.