A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

Builder sentiment slid into negative territory in August , as higher costs continue to impact buyers and builders alike . Buyer traffic has declined considerably this summer , with new home sales down 29.6 % nationally compared to a year ago and falling to their lowest level since 2016 , according to the U . S . Census Bureau . As sales slow and new home inventory piles up , builders are lowering prices to entice buyers , with about 1 in 5 builders cutting prices in August to boost sales and limit cancellations , according to the National Association of Home Builders . For the 12-month period spanning September 2021 through August 2022 , Pending Sales in the Hilton Head region were down 21.7 percent overall . The price range with the largest gain in sales was the $ 375,001 to $ 650,000 range , where they increased 2.3 percent .

The overall Median Sales Price was up 17.8 percent to $ 465,331 . The property type with the largest price gain was the Condos / Villas segment , where prices increased 22.3 percent to $ 379,000 . 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 $ 100,000 and Below range at 117 days .

+ 2.3 % - 12.8

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 20.6 percent . The property type that gained the most inventory was the Single Family segment , where it increased 28.4 percent . That amounts to 1.8 months supply for Single-Family homes and 1.8 months supply for Condos .

Current as of September 10 , 2022 Data © 2022 REsides , Inc . All Rights Reserved . Provided by the Hilton Head Area Association of REALTORS ® and South Ca