Closings Up, Inventory Down, Real Estate Booming

Robert Almirall
FILE - In this Friday, April 24, 2015 file photo, Robert Almirall, director of marketing and special assets coordinator for Mederos & Associates Real Estate Inc., puts up a sign in front of a home in the Shenandoah neighborhood of Miami. More Americans bought homes in May, the National Association of Realtors reported Monday, June 22, 2015, a sign of economic strength that is pushing up average prices. (AP Photo/Wilfredo Lee, File)

Houses are selling and selling fast. The real estate market in Hilton Head and Bluffton continues the upward trend we’ve seen over the last couple years.

“The market is still doing extremely well. Year to date, over 2,700homes have closed, which has been great, we’re up 14.3% over the previous year.One problem we’re actually running into is a lack of inventory,” said Fred Newman of Re/Max Island Realty.

That means a lack of options for Newton says act quickly.

“If you are a buyer, this is a great time to be looking for homes, if you see something you like, don’t hesitate too long because if you wait too long there’s a good chance it will be gone.”

So for people looking to sell their homes, this is a great time to get in the game.

“If you’re a seller and you’re out there trying to sell your home, also a good time to put it on the market. Inventory is down, if its priced right, the homes in great condition, it will move relatively quickly.”

But Newton says the best thing to keep in mind is that the homes you are looking at are priced correctly, and that you know what you want when you go out looking. he says you either need to be extremely patient or act quickly.

“We have a lot of people looking for property right now, the problem is if something comes on the market, especially in that $150-350,000 price range, if its priced right, its not going to be on the market very long. We’re also finding now that when it does come on the market,we end up getting multiple offers.”

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s