The housing market on Hilton Head Island looks good as 2018 rounds out, and according to a recent report, that trend is expected to continue into 2019.
A report from property analytics firm CoreLogic, which used statistics provided by The Multiple Listing Service of Hilton Head Island (HHIMLS), said the numbers for 2018 met expectations predicted going into the current year.
A release from HHIMLS explains in further detail some of its findings for 2018, as well as how they bode for 2019.
Here are the top three highlights:
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1. Home prices continue to increase
The HHIMLS release says home prices will climb through 2019 as well, the report says.
April 2018 outperformed April 2017 by 6.9 percent, and CoreLogic predicts they will increase by a further 5.3 percent by April 2019.
2. Demand outpaces supply
The catalyst for housing prices increasing so drastically is that demand and incomes have grown, while the number of houses on the market have decreased, according to the report.
HHIMLS said in its release that most people buy homes in the spring, too, which means that homebuyers should look now before the buying market saturates.
3. Smart-home and environmentally friendly options rule the market
HHIMLS said homebuyers are most interested in smart-home technology and appliances that are friendly both to the environment and buyers’ energy bills.
The release recommends that sellers install smart-home technology — especially any technology that can work in tandem with a smartphone app — in their home to increase its value before listing, if possible.
Options can include lighting, thermostats and security systems.