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Hilton Head Homes For Sale - How to find Hilton Head Homes for Sale

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Hilton Head is a beach island community with many cultural activities for those considering purchasing in the area. With recent economic distress, individuals in Hilton Head are faced with selling their homes, executing a short sale, or foreclosing on their homes. Currently, there are approximately 2.49 percent of prime mortgages in default and another 14.34 percent of subprime mortgages in default. Consequently, there are many Hilton Head homes for sale that possess reasonable prices for those individuals that have a stable income and decent credit scores.

Hilton Head possesses a population of over 33,000 individuals. The median age of the residents is 46, and the average income is $67,419. The unemployment rate is 3.8 percent. Though the future job growth is expected to grow by greater than 18 percent, the current job growth has declined by 2 percent. The highest temperatures occur in July and reach an average of 89 degrees Fahrenheit. The lowest temperatures reach an average of 39 degrees Fahrenheit in the month of January.

Residents and visitors enjoy cultural activities, such as The Coastal Discovery Museum, The Museum of Hilton Head, and The Art Center of Coastal Carolina. Each of these museums offers insight into the local culture, ecology, history, and other important facts about the area. Performing arts and visual arts are of particular importance in the area, as well as, cultural festivals.

Currently, there are greater than 5,000 Hilton Head homes for sale according to the MLS statistics. The majority of these homes are in Sea Pines, Palmetto Dunes, Forest Beach, and Hilton Head Plantation. These areas comprise over 1,000 homes for sale in the area. The average price per square foot of Hilton Head homes for sale is $194. This figure marks a decrease of 11.4 percent from last year’s figures. The median sale price of a Hilton Head home for sale is $294,900. This price was based upon the average price for 313 home sales. There was a 28 percent decrease in the median home sales price from last year. However, the number of home sales increased by 27.2 percent.

The average list price is $736,308. This average list price is declining each week. Individuals considering purchasing a home in this area can probably find a deal considering the current state of economic affairs. Beach front property is always desirable to home buyers and thus, individuals are capitalizing on the deals that seem too good to pass up. Recently, 826 properties were sold. With 384 foreclosures listed, individuals are certain to find a deal on some prime property, assuming that the home was not damaged prior to move out.

In the past five years, home sales prices have depreciated by 39.9 percent on Hilton Head Island. In this market, one bedroom and 3 bedroom homes seem to be fairing well in the community. While 2 bedrooms and 4 bedrooms have experienced a decrease in home values. Experts predict that the job situation will improve in the area in the future. As that number improves, the housing market will probably rebound in this area as well.

Hilton Head South Carolina Real Estate - Real Estate in Hilton Head, South Carolina [next] [back] Hilton Head Condos - Hilton Head condos: Buy a condo and savor the island life

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