Hilton Head home sales soar in June

147874 articles in the archive and more added every day

Hilton Head home sales soar in June

By GRANT MARTIN
gmartin@islandpacket.com
Published Tuesday, July 17, 2012   |  271 Words  |  

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.