A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

U . S . sales of new residential homes slipped to a 7-month low , as higher mortgage rates and rising sales prices have caused demand to slump . According to the U . S . Census Bureau , sales of new single-family homes fell 0.6 % month-over-month and 7.4 % year-over-year to a seasonally adjusted annual rate of 617,000 units . The median sales price for new homes rose to $ 417,300 as of last measure , with a 9.3-month supply of inventory at the current sales pace . For the 12-month period spanning August 2023 through July 2024 , Pending Sales in the Hilton Head Association of REALTORS ® region dropped 2.7 percent overall . The price range with the largest pending sales gain was the $ 1,000,001 and Above range , where sales were up 16.7 percent .

The overall Median Sales Price were up 8.1 percent to $ 535,000 . The property type with the largest gain was the Single-Family Homes segment , where prices improved 9.1 percent to $ 572,725 . The price range that tended to sell the quickest was the $ 250,001 to $ 350,000 range at 111 days . The price range that tended to sell the slowest was the $ 500,001 to $ 750,000 range at 172 days .

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

Bedroom Count with Strongest Sales : 4 Bedrooms or More

Property Type With Strongest Sales : Condos

Market-wide , inventory levels improved 41.1 percent . The property type with the largest gain was the Condos segment , where the number of properties for sale went up 45.4 percent . That amounts to 3.3 months of inventory for Single-Family Homes and 4.4 months of inventory for Condos .

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