The prices in real estate in Hilton Head Island, in the South Carolina region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Hilton Head Island has increased strongly during the last 6 months. In April, the average price per sq.feet was $305. In the following month the price per sq.feet increased considerably to $710. The price for the following two months in (June, July) decreased 89 % with regard to the prior two months. The price per sq.feet has had a considerable deflation of 76 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $479.75 to $362.5 during August, and September.
Based upon to the price in Hilton Head Island (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during April, is $723,111. During May the price went through a considerable rise reaching $907,005. During the following two months (June, July) the average price had a considerable increase of 159 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $1,055,836.75 to $826,064.5, which means a 78 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $861,518 they are 73 % more affordable than the average price for Hilton Head Island. The properties with the highest average price have 4 bedrooms, Their price is 2 % more costly than the average. After that we have properties with 3 bedrooms priced at $468,563.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $252 / sq.feet, with an average $366 / sq.feet price in Hilton Head Island. The properties with the highest average prices have 4 bedrooms. They are 346 % more expensive than the average followed by properties with 1 bedroom with a price at $381 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $861,518 it is 51 % cheaper than the average price in Hilton Head Island. "Condo" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Villa". At a price of $464,607 it is 15 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $197 / sq.feet followed by "Condo" priced at $202 / sq.feet. "House" is the most costly type of property with a $618 / sq.feet cost followed by "Villa" with an average price of $233 / sq.feet.