Nationally, sales of bank-owned properties have hit a five-year low as of the first-quarter of 2013. Same with Hilton Head Oceanfront Real Estate. See article
Locally, we have seen foreclosures sales to drop to barely over 50 properties for the June 2013 auction, whereas, these sales had typically been for 100-200 properties monthly for the last several years.
The result that we see in Hilton Head Island Multiple Listing Service is a significant tightening of inventory and a firming-up of prices.