2015 Collins Group Realty State of the Market Report 1 | Page 17

oldfield YEAR 2013 2014 2015 SALES 15 15 19 AVG PRICE $526,753 $552,527 $655,211 HIGHEST SALE $1,400,000 $920,000 $1,150,000 LOWEST SALE $310,000 $355,000 $430,000 AVG DOM 213 121 154 old town bluffton YEAR 2013 2014 2015 SALES 10 14 19 AVG PRICE $403,400 $268,583 $274,606 HIGHEST SALE $1,540,000 $410,000 $606,000 LOWEST SALE $80,000 $109,163 $130,000 AVG DOM 89 89 164 palmetto bluff YEAR 2014 2015 SALES 45 53 AVG PRICE $1,092,923 $1,335,396 HIGHEST SALE $3,950,000 $5,800,000 LOWEST SALE $550,000 $599,000 AVG DOM 113 182 * No data is available for 2013 rose hill YEAR 2013 2014 2015 SALES 39 37 55 AVG PRICE $337,963 $357,707 $368,371 sun city YEAR 2013 2014 2015 SALES 605 447 469 HIGHEST SALE $780,000 $860,000 $742,000 LOWEST SALE $133,815 $144,000 $184,500 and riverbend AVG PRICE $240,880 $252,348 $276,648 HIGHEST SALE $1,125,000 $800,000 $617,677 LOWEST SALE $87,500 $118,000 $138,000 AVG DOM 128 108 100 AVG DOM 59 51 50 the crescent YEAR 2013 2014 2015 SALES 29 25 32 AVG PRICE $366,276 $375,298 $376,666 the farm YEAR 2013 2014 2015 SALES 40 27 54 HIGHEST SALE $645,000 $500,000 $537,500 LOWEST SALE $258,000 $310,000 $305,000 AVG DOM 102 75 85 @ buckwalter AVG PRICE $126,911 $146,106 $163,995 HIGHEST SALE $217,222 $229,500 $225,000 LOWEST SALE $56,000 $85,000 $102,500 AVG DOM 66 59 46 westbury park YEAR 2013 2014 2015 SALES 21 27 39 AVG PRICE $173,528 $192,283 $222,274 HIGHEST SALE $240,000 $340,000 $294,000 LOWEST SALE $107,562 $120,400 $134,900 AVG DOM 101 79 58 Moderate improvement was seen in Oldfield almost across the board, including a slight increase in the number of closed sales, a higher average sale price and notably more sales over $500,000 than in recent history. Furthermore, none of the 19 reported sales during 2015 were bank-owned sales, compared to a full 20% of the Oldfield sales in 2014 that were corporate-owned and generally priced for liquidation. From a mobile home on Wharf Street to the historic (early 1900’s) Fripp-Lowden home on Calhoun Street, 2015 presented a wide array of sales in this diverse market. As a result, average sale price cannot accurately identify just how the overall market is doing. OTB continued to benefit from excellent “press” and exposure, generating a deeper draw among a broader base of visitors, businesses and residents. This was a fantastic sales year in Palmetto Bluff, as both re-sales and new construction contracts continued to surge. In addition to the 50+ home sales reported in 2015, there were well over 100 lot sales that closed as well. As of the end of 2015, there were 99 homes under construction and an additional 65 in the design-review phase. Additionally, construction on the new Inn and Moreland Village made great strides in 2015. Rose Hill established momentum with a significant increase in the number of sales in 2015. The golf course phase represented 71% of the sales, while sales over $500,000 (Estate phase) nearly doubled from the prior year. Additionally the number of bank-involved sales dropped significantly from 38% in 2014 to just 5% in 2015. Listing inventory spiked somewhat in the Summer, but it’s likely to decline during the Spring market. What can we say…the number of sales keep racking up as listings get rapidly absorbed in this fast-paced market! The year ended with 469 closed home sales in Sun City, including over 50 NEW homes purchased! Listing inventory remained limited all year, especially considering how quickly homes were selling…so by the end of 2015, there were just 78 homes for sale while an additional 62 listings were under contract for the start of 2016! We witnessed a rather steady, and certainly active year for The Crescent community with the highest number of closed transactions reported since all the way back in 2005. While prices (in general) remained relatively stable throughout the year, inventory was fairly limited, giving buyers fewer choices and therefore more urgency. Hard to believe, but as the year came to a close there was just one home for sale in The Crescent… you might call that ‘slim pickins’! A welcomed and notable increase in sales activity last year was evidenced by a significant spike in closed transactions and in the average sale price for 2015. Further fueling this healthy market period, the reported Days on Market remained under 2 months, and the average sale-price-to-listprice ratio for the year was an impressive 97%. The Farm is clearly feeding a segment of strong demand in the mainland market! The majority of sales activity in Westbury Park last year took place in the $170,000 - $230,000 price range, accounting for 54% of all reported sales. That said, though, the average sale price statistic actually trended to over $220,000, with 10 closed sales at/above $250,000. The average Days on Market figure dropped to under 2 months last year, but unfortunately bank-owned sales lingered in 2015, accounting for 18% of the total closed transactions.