A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

Purchases of new single-family homes increased 7.2 % month-over-month as of last measure , exceeding economists ’ expectations and rising to the highest level in nearly a year , according to the US Census Bureau . The limited supply of existing homes on the market , along with lower mortgage interest rates , softening sales prices , and a rise in the number of builders offering sales incentives , helped boost new home purchases , causing builder confidence to increase for the second consecutive month in February . For the 12-month period spanning March 2022 through February 2023 , Pending Sales in the Hilton Head region were down 22.5 percent overall . The price range with the smallest decline in sales was the $ 375,001 to $ 650,000 range , where they decreased 2.4 percent .

The overall Median Sales Price was up 15.9 percent to $ 486,590 . The property type with the largest price gain was the Condos / Villas segment , where prices increased 17.6 percent to $ 400,000 . The price range that tended to sell the quickest was the $ 100,001 to $ 225,000 range at 66 days ; the price range that tended to sell the slowest was the $ 225,001 to $ 375,000 range at 133 days .

- 2.4 % - 20.3

Price Range With the Strongest Sales :

Bedroom Co Strongest S

$ 375,001 to $ 650,000 3 Bedroo

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 112.2 percent . The property type that gained the most inventory was the Condos segment , where it increased 121.4 percent . That amounts to 2.1 months supply for Single-Family homes and 1.6 months supply for Condos / Villas .

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