A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

Sales of newly built homes fell 4.7 % month-over-month to a seasonally adjusted annual rate of 634,000 , according to the U . S . Census Bureau , a 7.7 % decrease from the same time last year . Demand for new homes softened due to higher sales prices , elevated mortgage rates , and an increase in existing-home supply , leading builder confidence to decline for the first time since November , according to the NAHB / Wells Fargo Housing Market Index ( HMI ). For the 12-month period spanning June 2023 through May 2024 , Pending Sales in the Hilton Head Association of REALTORS ® region softened 0.9 percent overall . The price range with the largest pending sales gain was the $ 1,000,001 and Above range , where sales went up 22.8 percent .

The overall Median Sales Price improved 8.3 percent to $ 530,315 . The property type with the largest gain was the Condos segment , where prices were up 18.2 percent to $ 455,000 . The price range that tended to sell the quickest was the $ 150,000 and Below range at 107 days . The price range that tended to sell the slowest was the $ 350,001 to $ 500,000 range at 171 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 56.2 percent . The property type with the largest gain was the Condos segment , where the number of properties for sale were up 81.0 percent . That amounts to 3.3 months of inventory for Single-Family Homes and 4.2 months of inventory for Condos .

Current as of June 11 , 2024 . Data © 2024 REsides , INC . All Rights Reserved . | Sponsored by South Carolina REALTORS ®. | Report © 2024 ShowingTime Plus , LLC .