2020 Real Estate Market Analysis | Hilton Head Island, SC Results_2020 Market Analysis_vs4 | Page 2

2019 by the numbers
The hope and promise of 2019 was that it would serve
as yet another solid and steady “recovery year” in the
Lowcountry real estate market. As the year wrapped up
with some impressive (and telling) performance statistics,
it did not disappoint.
With almost the exact amount of new listings (7,114)
hitting the market in 2019 as the year before, the
increased volume of sales contracts (up 8.7%) over the
course of the year resulted in an overall 12% drop in
available inventory for sale at the end of the year.
As inventory dropped amid growing demand and sales,
both average and median sales prices rose moderately
by 3.4-3.8%. Single-digit climbs in average sales prices
don’t nearly approach what our market experienced in
the Boom Years of 2000-2007, but steady, predictable,
and dependable growth goes a long way to demonstrate a
healthy and sustainable marketplace.
Buyers expressed their confidence amid these healthy
market conditions by paying sellers an average of 96.8%
of List Price,
Price with properties requiring an average of only
140 days on the market to sell.
Aided nicely by the relatively-quiet storm season in 2019,
sales activity in the last quarter of the year gave the market
an impressive year-end boost (NOTE: December pending
sales were up 22% from the same month in 2018!), which
further demonstrates how we’ve evolved more and more
into a true, year-round-marketplace.
2017, 2018, and 2019 have now provided us with three
steady years of market growth in a row. We have every
reason to expect that 2020 will continue that trend. The
strength of the US economy and stock markets are fueling
our buyer audience with the necessary sense of wealth and
confidence to perform across our wide array of property
types, locations and price points, and continued demand
for the Lowcountry lifestyle will maintain our market
momentum well into this new year.
On the following pages of our report, we speak to a
variety of Steering Factors that we anticipate will play
varying roles as the 2020 market year unfolds. Generally,
we expect that the momentum of the market will
outweigh any distractions presented by the election-year.
We expect sellers and buyers to continue to enhance and
exercise the confidence that has been established by three
solid years of market performance and recovery in the
Lowcountry.
As for our company, 2019 marked our strongest market
performance ever with $143 Million in closed sales and
over 330 clients served. We constantly strive to be a
quality, professional resource to our clients as well as to
our community. The balance of our report this year is
dedicated to highlighting the multitude of services and
offerings (many of which are NEW) that we proudly
bring to the Lowcountry in 2020.
As always, thank you for your interest in our Annual
Market Analysis. Please know that we welcome the
opportunity to deliver unparalleled real estate service to
you or someone you know, now, or in the future.
Have an amazing 2020!
Best,
Chip Collins
Owner / Broker-in-Charge
Two Locations Serving the Lowcountry, Since 2002
Hilton Head [phone] | Bluffton [phone]
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CollinsGroupRealty.com | Results.
SM