The Hilton Head area real estate market is considerably healthier than it was one year ago, according to a report Tuesday by S.C. Realtors.
Sales
of homes, condominiums and villas in June were up more than 60 percent
over June 2011 and are up about 23 percent overall year to date.
June's
surge -- the highest increase of any of the state's 16 regions for the
month, according to the report -- was accompanied by a 21-percent
decrease from June 2011 in the average number of days homes spent on the
market.
That decline is indicative of an increasingly healthy market, said John Robinson, president of the Hilton Head Realtors Association.
"Over the past few years, that average wait hasn't decreased that
much," he said. "This shows that the market's getting better and that
buyers are making their moves."
Hilton Head Realtor Charles
Sampson partly attributed the spike in sales to banks' placing
distressed properties back on the market.
"Sellers are saying, 'I've waited long enough,' " he explained. "The inventory's starting to balance out."
The
trend was not accompanied by the substantial drop in the median selling
price that had tempered enthusiasm over strong sales rates in the past
several months.
At $230,000, that median price marked only a slight decline from the June 2011 mark of $233,000.
Beaufort area sales remained consistent -- up 2 percent over June 2011 but down about 2 percent year to date.
Courtesy The Island Packet, by Grant Martin
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