Palmetto Dunes and Shelter Cove Villa Market Report, last 90 days 2013-2014
Palmetto Dunes Resort is one of the most highly regarded areas on Hilton Head Island for beautiful homes, an 11-mile navigable lagoon system, easy beach access and three championship golf courses – an Arthur Hills course, Robert Trent Jones Oceanfront course, and George Fazio course. Located mid-island on Hilton Head Island, it is also home to Shelter Cove and the Shelter Cove marina. Highway 278 runs through the middle of Palmetto Dunes so that one side is oriented to the Atlantic Ocean and the other side is on Broad Creek. The market report that follows will address the villas that are located on the golf course as well as in the Shelter Cove area.
As with the rest of Hilton Head Island, inventory in the Palmetto Dunes golf villas and Shelter Cove communities is reduced. At the moment, there are 51 villas on the market ranging in price from $169,000 to $950,000. Obviously the price is dictated by the views/location and number of bedrooms. People often ask me about price per square foot. We don’t often use that number as a comparison but for information’s sake, the average price/square foot is $240.70.
There are also 9 properties that have found buyers and are pending and 2 properties that are contingent. The list prices range from a 2 bedroom 2 bath flat in Anchorage in Shelter Cove to a fabulous 3 bedroom 3 ba penthouse with stunning views over Shelter Cove Harbour for $950,000.
In the last 90 days, 24 villas have closed. Were there any 'deals'? I'd have to say that the 2 bedroom 2 and 1/2 bath Mainsail with full water views closing at $472,000 would definitely fit into that category.
The average days on the market was 152. The average ratio of list price to sale price was 95% and the average price/square foot for sold properties was $219.90. What's the trend line? It is in general in an upward motion. Our comparison between last year at this time and this year is that the average closed sales price is UP 7.5%.
Each one of the particular villa complexes shows varying signs of recovery. If you would like me to watch specific areas, feel free to contact me through my website.Each one of the particular villa complexes shows varying signs of recovery.
If you would like me to watch specific areas, feel free to contact me through my website.Each one of the particular villa complexes shows varying signs of recovery.
If you would like me to watch specific areas, feel free to contact me through my website.