Housing improves on Hilton Head, high end sluggish - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Housing improves on Hilton Head, high end sluggish

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HILTON HEAD ISLAND, S.C. (AP) - The real estate market continues to rebound from the Great Recession on Hilton Head Island, although the high end resort market remains sluggish.

The Island Packet of Hilton Head reports that data from South Carolina Realtors shows sales for May were up 6% over May of last year. The median sale price in the Hilton Head and Bluffton area was $275,000, up 18% over May of 2012.

James Wedgeworth with the James Wedgeworth and Associates realty firm says the market is coming back but most of the growth is at the lower end as people move to the area.

He says the market for resort properties selling for $1 million and more is still sluggish, noting the market for high-end waterfront homes is usually slower to recover.

 

Information from: The Island Packet, http://www.islandpacket.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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