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9
BANK-INVOLVED SALES
Homes
Villas
4%
5%
Lots
5%
100%
95%
91%
Short Sale
Foreclosure
Conventional
HOME SALES BY PRICE RANGE
150
44
8
3
$250,000-$500,000
$500,000-$750,000
$750,000-$1m
1
$1m-$1.5m
$1.5m+
In 2013, short-sales and foreclosures
accounted for 8% of Home sales and 5%
of Villa sales in Hilton Head Plantation.
Often priced below market, these listings
can hinder overall market values. However, I feel that the worst of this chapter
in the housing-crisis is effectively behind
us as struggling owners regain footing in
the economy and as banks do what they
can to minimize the number of incidents of
distressed sales in the marketplace. In effect, these distressed, bank-involved transactions will soon become the rare-occasion
outliers that they were at one time in our
overall market. 2014 should show just a
handful of these remaining…
This breakdown of 2013 Home sales in HHP
mirrors nicely the overall HHP inventory,
suggesting that sales are healthy throughout
the Plantation. Clearly there was a high focus
on properties priced under $500,000, yet the
market for Homes above $500,000 was robust,
including 9 closed transactions over $1 Million
over the course of the year. As some buyers
seek waterfront offerings, it’s clear that their
survey of opportunities across the Island has had
many choose Hilton Head Plantation, not only
due to the great value compared to other locations, but also due to the outstanding amenity
package and friendly neighborhood feeling of
the Plantation. We expect this focus to continue
in 2014, while, on the opposite end of that
spectrum, it’s a pretty safe bet that the under-$250,000 products will “sell-out” in 2014,
leaving very few options in that price-range
thereafter.
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