A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

Rising interest rates , elevated home prices , and persistently high levels of inflation have caused housing affordability to plunge to its lowest level since 2012 , according to the NAHB / Wells Fargo Opportunity Index ( HOI ). The NAHB reports only 42.2 % of new and existing homes sold in the third quarter of 2022 were affordable to homebuyers earning the U . S . median income of $ 90,000 , surpassing the previous low of 42.8 % in the second quarter of 2022 and causing builder confidence to weaken . For the 12-month period spanning December 2021 through November 2022 , Pending Sales in the Hilton Head region were down 23.3 percent overall . The price range with the largest gain in sales was the $ 375,001 to $ 650,000 range , where they increased 2.6 percent .

The overall Median Sales Price was up 18.9 percent to $ 480,000 . The property type with the largest price gain was the Condos / Villas segment , where prices increased 20.3 percent to $ 385,000 . The price range that tended to sell the quickest was the $ 100,001 to $ 225,000 range at 69 days ; the price range that tended to sell the slowest was the $ 225,001 to $ 375,000 range at 116 days .

+ 2.6 % - 17.2

Price Range With the Strongest Sales :

Bedroom Co Strongest S

$ 375,001 to $ 650,000 2 Bedrooms

Pending Sales Days on Market Until Sale Median Sales Price Percent of List Price Receiv Inventory of Homes for Sale Months Supply of Inventory

Market-wide , inventory levels were up 76.6 percent . The property type that gained the most inventory was the Single Family segment , where it increased 82.1 percent . That amounts to 2.1 months supply for Single-Family homes and 2.0 months supply for Condos / Villas .

Current as of December 10 , 2022 Data © 2022 REsides , INC . All Rights Reserved . | Sponsored by South Caro