HILTON HEAD ISLAND, S.C. — Real estate agents say the luxury home market is growing quickly in Beaufort County.
Sales of homes or lots priced at $1 million or more is approaching levels not seen since the Great Recession began in 2008, The Island Packet of Hilton Head (http://bit.ly/1M5xkxw) reported.
Statistics from multiple listing services show that such sales were up nearly 25 percent in Bluffton and on Hilton Head island, compared with the height of the recession in 2009. In the northern part of Beaufort County, twice as many high-priced homes were sold last year, compared with 2008.
Real estate officials say buyers are purchasing historic homes in Beaufort and marsh-side property on Hilton Head Island.
“The high-end luxury homebuyer appears to be coming back,” said John Trask, a broker at Lowcountry Real Estate.
For the corporate CEO or Wall Street executive looking for an additional home, “consumer confidence is the biggest factor,” said Karen Ryan, co-owner of Weichert, Realtors-Coastal Properties.
The market does make up less than 5 percent of total home sales in the county.
Information from: The Island Packet, http://www.islandpacket.com