A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

After a brief decline , national sales of new residential homes are on the rise again , increasing 8 % month-over-month and 4.4 % year-over-year to a seasonally adjusted rate of 664,000 units , according to the U . S . Census Bureau . Lower interest rates and a shortage of existing-home inventory continue to be a boon for the new-home market , with sales of new residential homes up 4.2 % from 2022 to an estimated 668,000 units in 2023 . For the 12-month period spanning February 2023 through January 2024 , Pending Sales in the Hilton Head Association of REALTORS ® region were down 7.5 percent overall . The price range with the largest pending sales gain was the $ 1,000,001 and Above range , where sales rose 11.1 percent .

The overall Median Sales Price were up 8.8 percent to $ 520,000 . The property type with the largest gain was the Condos segment , where prices increased 12.6 percent to $ 430,000 . The price range that tended to sell the quickest was the $ 150,001 to $ 250,000 range at 105 days . The price range that tended to sell the slowest was the $ 350,001 to $ 500,000 range at 175 days .

Price Range with Strongest Sales : $ 1,000,001 and Above

Bedroom Count with Strongest Sales : 3 Bedrooms

Property Type With Strongest Sales : Single-Family Homes

Market-wide , inventory levels rose 30.8 percent . The property type with the largest gain was the Condos segment , where the number of properties for sale were up 74.8 percent . That amounts to 2.7 months of inventory for Single-Family Homes and 3.7 months of inventory for Condos .

Current as of February 10 , 2024 . Data © 2024 REsides , INC . All Rights Reserved . | Sponsored by South Carolina REALTORS ®. | Report © 2024 ShowingTime .