Want to know how much your home could sell for? Here’s a look at the Beaufort Co. market
Want to know how your neighborhood ranks in terms of home prices?
Well, it depends on where you live in Beaufort County.
Median sales prices overall have been on the rise in the Lowcountry since 2016, according to the Hilton Head Area Association of Realtors’ annual report. That report is based on the Hilton Head Multiple Listing Service’s statistics. The listing service represents realtors mainly south of the Broad River.
The upward trend follows a state-wide one with overall median sales prices increasing 5.5 percent in 2018, according to the South Carolina Association of Realtors.
Family home prices went up 7 percent from 2017. Condos rose 4.5 percent state-wide.
Property values in the Lowcountry have increased by 6.6 percent from 2016 to 2018, according to the report.
The local association’s property sales from 2015 to 2018 show fluctuations throughout certain neighborhoods and communities. The two communities that have shown the highest property value increases in that time frame are Folly Field and the Forest Beach area on Hilton Head.
The Folly Field community has seen a median sales increase of 24.1 percent since 2014. Last year, the median sales prices for homes in that area was $167,500. — an increase from the 2017 median value of $143,925.
Forest Beach has seen an increase of 22.8 percent in median sales prices since 2014. Home values also seem to be on a steady upward trend there. Values rose from $215,000 in 2017 to $251,750 in 2018, the report said.
Not all neighborhoods and communities in Beaufort County have done as well.
Berkeley Hall, a gated community in Bluffton, saw the largest drop in median sales prices from 2014 to 2018. Prices fell 32.8 percent. The percentage was higher from 2017 to 2018, with a decrease in prices of 35 percent.
Properties in the Spring Island community followed closely behind. Median sales prices fell 31.7 percent from 2016 to 2018. Data was not available for 2015.
However, the area appears to be on the rise. Property values rose from $730,000 to $1,080,000 from 2017 to 2018.
Callawassie Island properties saw the third highest decrease in sales prices from 2014 to 2018, with a decrease of 21.5 percent.
Fripp Island is listed by the association as having seen the largest overall sales value increase of 49.3 percent since 2014. However, that number is incorrect, according to Jean Beck of the Hilton Head Area Association of Realtors.
The numbers, she said, are reflected by real estate companies that are members of the Hilton Head Multiple Listing Service. If real estate companies are not members of the Hilton Head MLS, the homes they sold may not be reflected in the report.
Charles Patty, a realtor with Fripp Island Real Estate Company, said the median sales price on Fripp Island in 2017 was $357,500. In 2018, that number rose to $368,500.
Here’s a list of historical median prices for Beaufort County communities from 2015 to 2018:
Note: Median prices are reflected by numbers reported from real estate agencies that are members of the Hilton Head Multiple Listing Service. Some median prices may fluctuate based on MLS membership.
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