With the RBC Heritage over, we will soon welcome the summer vacation season to Hilton Head Island. With COVID-19 fears diminishing as vaccinations are becoming more widespread, the visitors to Hilton Head are on their way! The Sea Pines Resort is on pace to have one of the biggest years in its 65-year history. Last year the pandemic caused enormous disruptions in tourist traffic. Starting in February nearly all island visitors stayed away. The resort, restaurants, retail, charter boats, etc. all came to an immediate stop. However, in May of 2020, we saw a dramatic turnaround and influx of visitors as people deemed Hilton Head a safe, drivable destination. Golf, biking, fishing, tennis, pickleball, and the beach, could all be enjoyed at a social distance, and working remotely became the norm. This surge in rental business continued for the rest of 2020. Restaurants and retail still struggled, but have seen good positive increases as the comfort level of going out in public has increased.
As for the real estate market, 2020 was as strong as we have ever seen. Sales volume and prices rose steadily during the spring, summer, and fall of 2020. Currently, sales volume is slowing down, but not because of lack of demand, but because of lack of supply. The extent of this supply/demand shortage is a situation we have rarely seen on Hilton Head and in Sea Pines. More and more clients are looking for properties, but cannot find them because of the lack of inventory, or often find them too late; you must act quickly in today’s market, and not be shy when it comes to the price.
If you have ever considered selling your Hilton Head property, the next few months may be the best opportunity to get the highest price in the shortest amount of time that we have seen in decades. For more information on the Hilton Head market contact us at Clark, Cramer & Frank 843-363-4523, or email us at email@example.com.