Living Well Blog - Hilton Head, SC

Acccording to the June report from the SC Association of Realtors, Hilton Head Area MLS sales jumped 46% in 2010 over 2009! 

In May the Hilton Head Area is firmly established itself as South Carolina's hottest real estate market.

    Home sales up 26%: 861 purchased. 

    Villa sales up 91%: 391 purchased. 

    Lot sales up 92%: 146 purchased. 

Much of this momentum is due to the value that current prices represent, and to record low interest rates.  Since 2007, the median sale price of homes and villas in the Hilton Head area has drecreased 37%!

Current 30 year fixed rates for conforming loans (less than $417K) are approximately 4.375%.  By way of context, a 1% rate increase will increase the monthly cost of a property by roughly 10%.  

We're witnessing a remarkable confluence of low prices and low rates, and levels we've never witnessed before.  Buyers, who have been sitting on the sidelines waiting for the perfect time to enter the market, are now actively picking over the low hanging fruit.

If you or anyone you know is considering ownership in the Lowcountry, I'd encourage you to act now.  You don't want to miss this market.