A spotty market in Hilton Head is coming around to a seller's market again as local Realtors report rising sales.
"It has been a rebounding year on Hilton Head Island," says Realtor David R.Pautler, "a world-class designated resort and residential area.
"Home site prices continue to appreciate over 86 percent in the last four years," explains Pautler, "as the land values go up the homes go up. New homes are still selling strongly, as prices go up, however, more people are looking at resale. That market appears to be crowded. Resale homes that have been updated are selling quickly and for close to list price. If you are the type of person who likes to remodel then there are some good opportunities. There are still good opportunities to buy a home site or a lot and build later. Home sites have averaged over 20 percent growth in average price in the last four years. Much better than the stock market."
Says Realtor Linda Mullinix, "What started out as a vacation / resort community has grown into an island filled with diversity. Not only will you find fabulous resort accommodations, golf, tennis, swimming, biking, horse back riding, hiking, shopping, and many of the finest restaurants in the country, you will find a plethora of home styles to choose from. From modestly priced villas, single-family homes of all sizes and price ranges, to elaborately furnished ocean front properties, it is all available on the island. From small to large, views of all types, and a home to meet everyone's budget, the island's variety of home options is almost unlimited.
"As far as mainland properties go," explains Mullinix, "These communities are located on the mainland, just before you cross the bridge to Hilton Head Island. With the growth of this area new schools, new shopping centers, a new 60,000 sq. ft. Kroger Super Store, new restaurants, a 152,000 sq. ft. Wal-Mart Super Center, and several new developments, the mainland area is fast becoming the central point between Hilton Head Island, Beaufort, South Carolina, and Savannah, Georgia. You can reach any of these resort locals within 30 minutes of most mainland communities. There is no shortage of golf, both private and public, tennis, and water sports, as well as a great variety of home styles to choose from. If you can't find it here, it may not exist."
"Hilton Head is a semi-tropical island with a strong primary market as well as resort rentals and investment," says Realtor Chris Spirer, "The market seems a bit quirky and unpredictable. We are seeing sales in the low and high end, but less in the middle market. Due to a large inventory, it is still a buyer's market with many choices available. But don't expect to "steal" properties. It just isn't happening. Our sellers are patient."
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Published: December 30, 2002
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