The real estate market on Seabrook Island is finishing the year strong. As of mid-October, (when I am writing this article), the number of properties closed or waiting to close has exceeded the total sales on the island for the full year of 2014. Buyer interest is strong and we are likely to reach or exceed the 2015 annual goal set of 150 properties sold on Seabrook. Remember, at the depths of the recession, only 79 properties were sold.
Inventory of residential properties for sale (homes and villas) has now fallen to 170, which translates to a backlog of about one year and four months. This is significantly down from a backlog of well over 3 years during the real estate depression. Interest in Seabrook continues to be strong and our sales office is very active.
This does not mean that the market has gone totally from a buyer’s to a seller’s market. It merely means that as the retirement and second home market continues to improve, it also becomes more balanced. Well priced, well conditioned properties no longer need to sit on the market for extended periods of time.
Seabrook Island Real Estate continues to be the leader in marketing our wonderful island, and we continue to look for new opportunities. In addition to the billboards promoting Seabrook that I mentioned in the last edition, we have just signed on with a marketing publication based out of Charlotte. We will continue to attend retirement expos and have leased a villa on Seabrook on a short-term basis in order to test the ability to more easily provide a “Stay and Play” experience to serious prospects interested in exploring Seabrook as a place to retire.
Kristina Skalak and Kelly Butorac, who man our full time in house Marketing Department, continue to do a fabulous job expanding all aspects of marketing, including electronic and social media (follow us on Twitter at @seabrookrealty and on Facebook and Pinterest at Seabrook Island Real Estate.) They provided invaluable support to both the men’s and lady’s member guest tournaments, as well as the Alan Fleming Tournament. Our Sales Executives were also involved in those events to make sure new guests were well aware of what Seabrook has to offer.
As always, feel free to call if you’d like to talk about anything related to real estate.
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