Real Estate Fast Facts
| 1949 A group of lumber associates from Hinesville, Georgia, purchase 20-thousand acres of pine forest on Hilton Head Island for an average of nearly $60 an acre. 1950 Lumbering is the only activity on the island. There are about 300 residents. 1956 James F. Byrnes Bridge is built and 48,000 cars travel across it. 1956 Charles E. Fraser buys his father's interest in The Hilton Head Company and begins developing Sea Pines Plantation. 1957 Construction work at Sea Pines begins on 5,200 acres. 1958 The first lot deed in Sea Pines Plantation is signed. Beachfront lots initially sell for $5,350. By 1962, they are selling for $9,600. |
1962 About one-fourth of 2,000 lots are sold on "10 year plan." 1967 Sea Pines Plantation installs the island's first gates. 1974 The Heritage Golf Classic telecast reaches an estimated 5 million homes. 1975 The island's full-time population is 6,500. Over 250,000 people visit Hilton Head. 1975 Sea Pines Co. launches "innovative new villa ownership plan," called "Time-Sharing." 1977 Homes: A total of 1,052 built, 2,738 planned. Villas: 1,000 units built, 1,100 units planned. 1982 Nearly 2,900 time-share owners. 1983 Golf course lots are listed for sale at $74,000. 1992 More than $140 million in closed sales; 22% increase over 1991. |