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 December, the average price per sq.feet was $282. In the following month the price per sq.feet increased to $318. In the following two months the price per sq.feet has barely changed, going from $300 to $290.5 per sq.feet. The price per sq.feet has had a considerable increase of 172 % 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 $295.25 to $507.5 during April, and May.
Based upon to the price in Hilton Head Island (cities), these have remained the same in the last 6 months. In our first sample month during December, the average price is $720,082. In January This price remains at $696,224. During the following two months (February, March) the average price fell 93 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 119 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $907,005 they are 77 % more affordable than the average price for Hilton Head Island. The properties with the highest average price have 4 bedrooms, Their price is 1 % more costly than the average. After that we have properties with 3 bedrooms priced at $518,320.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $251 / sq.feet, with an average $710 / sq.feet price in Hilton Head Island. The properties with the lowest average prices have 1 bedroom. They are 55 % cheaper than the average followed by properties with 4 bedrooms with a price at $276 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $907,005 it is 53 % cheaper than the average price in Hilton Head Island. "Villa" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $653,845 it is 22 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $201 / sq.feet followed by "Villa" priced at $237 / sq.feet. "House" is the most costly type of property with a $856 / sq.feet cost followed by "Condo" with an average price of $381 / sq.feet.