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Hilton Head Real Estate News: January 2021

Real Estate

SCHEMBRA REAL ESTATE GROUP ADDS ASSOCIATE 

Whitney Halley, a lifelong resident of Hilton Head Island, has joined Schembra Real Estate Group as assistant to the broker-in-charge. She was most recently client service supervisor for Spherion in Columbia. Halley graduated magna cum laude from USC Darla Moore School of Business with a bachelor of science degree in marketing and management.

Real Estate

WEICHERT REALTORS WELCOMES AN AGENT; SAIN AWARDED TOP DESIGNATION

Shelly Gentile has joined the Weichert Realtors real estate team. She will work out of the Hilton Head office. Gentile came to Hilton Head Island three years ago in search of a second home and was instantly charmed by the Lowcountry life. After 30 years of running her own company in New York, she sold the business and pursued her passion for real estate. She comes from four generations of construction and real estate experience and holds a real estate license in New York and South Carolina.  

Nancy Sain of Weichert Realtors was awarded the Accredited Buyer’s Representative designation by the Real Estate Buyer’s Agent Council of the National Association of Realtors. She joins more than 25,000 real estate professionals who have earned the ABR designation. 

KELLER WILLIAMS WELCOMES 5 NEW AGENTS

Matt Kelly, Lara Arroyo, Michael Gates and Joy Gentile have joined Keller Williams Realty Lowcountry as new agents at its Hilton Head office, and Kim Coolican to its Beaufort office. 

COLLINS GROUP REALTY’S THANKSGIVING DRIVE COLLECTS TONS OF FOOD

Collins Group Realty helped give back during the holidays.

The 20th year of the Collins Group Realty Thanksgiving food drive was held in Windmill Harbour, Long Cove Club and the Point Comfort communities. The initiative collected 4,000 pounds of food for The Deep Well Project; 293 bags of food and pantry items were donated.

Collins Group Realty utilized its Community Vehicle (a box truck they loan, free of charge, to community organizations, nonprofits, schools, and clients) and volunteers from within the real estate company, including real estate specialists, staff and family members to collect the donations and deliver them to Deep Well.

Also, in partnership with the Hampton Hall Charitable Fund and The Haven Social Committee, Collins Group Realty conducted toy drives in Hampton Hall, The Haven and the Sam’s Club parking lot, filling nearly two box trucks with toy donations.

The real estate company and Hampton Hall Charitable Fund have been conducting a toy drive in the gated community for years, collecting donations for Bluffton Self Help’s Holiday Toy Shop.

SOUTH CAROLINA HOME SALES UP 19%

South Carolina Realtors said there was a 19 percent increase in closed sales in the state compared to 2019, as of its October data. The median sales price rose almost 17 percent to $255,450 compared to the same time in 2019. Nationally, in Oct. 2020, 72 percent of homes were on the market for less than a month. 

REPORT: MORE ADULTS LIVING WITH ROOMMATES

The number of “doubled-up households” has increased in the area, according to report from Porch.com.  In the Hilton Head Island-Bluffton area, 27.2% of adults live with roommates. 

The study says roommates in a two-bedroom unit in Hilton Head Island-Bluffton save 37.2% on rent. 

Nationwide, the typical doubled-up household consists of adult family members living together in a house that one of them owns. Doubled-up households increased by nearly 5 million from 2007 to 2011.  

TOP 10 MARKETS DURING COVID

The National Association of Realtors identified the top 10 markets that have shown resilience during the pandemic and that are expected to perform well post- COVID-19. The top 10 markets are: Atlanta- Sandy Springs-Alpharetta, Georgia; Boise City, Idaho; Charleston-North

Charleston, South Carolina; Dallas-Fort Worth-Arlington, Texas; Des Moines-West Des Moines, Iowa Indianapolis-Carmel-Anderson, Indiana; Madison, Wisconsin; Phoenix-Mesa-Chandler, Arizona; Provo-Orem, Utah; and Spokane-Spokane Valley, Washington.

Factors considered included unemployment rate; net domestic migration, including movers from West Coast areas; and leisure and hospitality industries.

Low unemployment rates compared to the national average signaled strong employment environments. At 4.2%, Provo-Orem boasts the lowest unemployment rate among those listed, followed by Madison at 4.3%, Charleston at 4.7% and Des Moines at 5%.

HILTON HEAD REGION PENDING SALES UP 28%

According to the November Housing Supply Overview from the Hilton Head Area Association of Realtors, from December 2019 to November 2020, pending sales in the Hilton Head region were up 28 percent. The overall median sales price was up 13 percent to $363,700. Market-wide, inventory levels were down 41.9 percent. This amounted to 2.1 months’ supply for single-family homes and 1.8 months’ supply for condos.

REPORT: 2021 GROWTH EXPECTED

Top U.S. economic and housing experts expect a post-pandemic economic rebound, improving job conditions and stable interest rates to continue in 2021, according to a report from the National Association of Realtors.

The group of experts’ predictions include a Gross Domestic Product growth of 3.5% in 2021 and 3.0% in 2022; an annual unemployment rate of 6.2% this year with a decline to 5.0% in 2022; annual median home price to increase by 8.0% in 2021 and by 5.5% in 2022; and the share of the U.S. workforce working from home to be 18% in 2021 – down from 21% in 2020 – and 12% in 2022.

Small declines in office and hotel vacancy rates in 2021, with a slight increase in retail vacancies next year, are predicted.

“It is an understatement to say the year 2020 has been filled with challenges and full of surprises,” said Lawrence Yun, NAR chief economist and senior vice president of research. “Yet, one astonishing development has been the hot housing market as consumers eyed record-low mortgage rates and reconsidered what a home should be in a new economy with flexible work-from-home schedules.”

In 2020, home sales will reach 5.52 million, the highest annual mark since 2006, according to the NAR report.