I just wanted to take a moment to congratulate all of the Sales Executives at Seabrook Island Real Estate for producing yet another very successful year in 2015. We’ve been through the best of times and the worst of real estate times over the past ten years. We are ending the year strong with $19 million in sales volume on the books for November and December, versus about $10 million last year for the same period.
Sales volume on Seabrook Island in 2015 is up over 25% and the unit sales numbers have about doubled from the depression year lows of 2009. The increasing number of new sales is resulting in higher annual profits and, month after month, record high numbers of Seabrook Island Club members. This, of course, is resulting in continued and increased financial stability for Seabrook Island.
Our Seabrook Island Sales Executives continue to dominate the island real estate market place. I’m writing this in the middle of December, and most closings occur at month end, so final numbers will not be known for a couple of weeks. However, Seabrook Island Real Estate will have sold about 130 of the approximately 150 properties that will close in 2015. Pending closings for January of 2016 show the potential for a strong start for the New Year.
Seabrook Island Real Estate’s dominance is at all levels of property, including the high end $1 million plus market. Over the past three years there have been 32 sales over $1 million and Seabrook Island real estate has been involved in 30 of those sales. Our agent’s knowledge of the unique nature of the details of Seabrook Island, its history and their close relationship with the Club, SIPOA and Town of Seabrook Island help not only to sell real estate, but to ease the burden for buyers and sellers during the complex process both before and after a contract is written.
The year will end with about 76 Single family homes closed or waiting to close at an average price of about $740,000; About 59 villas will close or be under contract waiting to close at any average sales price of about $285,000 and building lots will show 22 closed with 3 waiting to close with average sale price of about $270,000.
The final positive note is that the year will end with residential (Villas and homes) inventory at lower levels. The back log of those properties is down from over three years worth in 2009 to about 13 months at year end 2015. Right now there are about 80 villas and 84 homes on the market on Seabrook Island. While we continue to have good buyer activity, it is clear that the properties selling the quickest are those priced to the market and well conditioned.
Here’s to a happy and healthy new year to all of you. Thanks you for your support and your business.
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