A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

New residential construction continues to pick up steam , as limited existing-home inventory drives buyer demand toward the new construction market . Monthly new-home sales exceeded economists ’ expectations once again , rising 4.1 % to a seasonally adjusted annual rate of 683,000 units , the highest reading since March 2022 , according to the U . S . Census Bureau . Housing starts were up 2.2 % month-overmonth , reflecting gains in both single-family and multifamily construction , while permits for future single-family homes reached a 7- month high . For the 12-month period spanning June 2022 through May 2023 , Pending Sales in the Hilton Head Association of REALTORS ® region dropped 20.7 percent overall . The price range with the largest pending sales gain was the $ 750,001 to $ 1,000,000 range , where sales went up 5.6 percent .

The overall Median Sales Price rose 10.1 percent to $ 495,000 . The property type with the largest gain was the Single-Family Homes segment , where prices rose 9.0 percent to $ 520,000 . The price range that tended to sell the quickest was the $ 150,001 to $ 250,000 range at 71 days . The price range that tended to sell the slowest was the $ 250,001 to $ 350,000 range at 151 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 increased 16.0 percent . The property type with the largest gain was the Single-Family Homes segment , where the number of properties for sale increased 22.2 percent . That amounts to 2.0 months of inventory for Single-Family Homes and 2.0 months of inventory for Condos .

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