A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

Limited existing-home inventory continues to be a boon for homebuilders , who have ramped up production to meet the rising demand in the new-home market . Nationally , housing starts were up 21.7 % month-over-month as of last measure , the fastest pace in more than a year , while housing permits climbed 5.2 % month-over-month , according to the U . S . Census Bureau . Renewed interest in new homes this year has helped builder confidence increase to its highest level since July 2022 , according to the NAHB / Wells Fargo Housing Market Index ( HMI ). For the 12-month period spanning July 2022 through June 2023 , Pending Sales in the Hilton Head Association of REALTORS ® region were down 19.9 percent overall . The price range with the largest pending sales gain was the $ 750,001 to $ 1,000,000 range , where sales increased 3.2 percent .

The overall Median Sales Price went up 8.9 percent to $ 490,000 . The property type with the largest gain was the Condos segment , where prices rose 9.6 percent to $ 399,900 . The price range that tended to sell the quickest was the $ 150,001 to $ 250,000 range at 70 days . The price range that tended to sell the slowest was the $ 250,001 to $ 350,000 range at 161 days .

Price Range with Strongest Sales : $ 750,001 to $ 1,000,000

Bedroom Count with Strongest Sales : 3 Bedrooms

Property Type With Strongest Sales : Single-Family Homes

Market-wide , inventory levels went up 9.2 percent . The property type with the largest gain was the Single-Family Homes segment , where the number of properties for sale went up 13.6 percent . That amounts to 2.1 months of inventory for Single-Family Homes and 2.5 months of inventory for Condos .

Current as of July 10 , 2023 . Data © 2023 REsides , INC . All Rights Reserved . | Sponsored by South Carolina REALTORS ®. | Report © 2023 ShowingTime .