A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS ®

Sales of new single-family homes decreased 8.7 % month-over-month , to a seasonally adjusted annual rate of 675,000 units , according to the U . S . Census Bureau , the slowest pace since March . Higher mortgage interest rates are taking their toll on buyer demand , and a number of buyers are choosing to postpone their next home purchase until rates move lower . With sales softening , builder confidence also declined , falling five points to 45 in September , according to the National Association of Home Builders ( NAHB ). For the 12-month period spanning October 2022 through September 2023 , Pending Sales in the Hilton Head Association of REALTORS ® region fell 14.4 percent overall . The price range with the largest pending sales gain was the $ 750,001 to $ 1,000,000 range , where sales were up 2.3 percent .

The overall Median Sales Price went up 8.6 percent to $ 505,000 . The property type with the largest gain was the Condos segment , where prices rose 13.9 percent to $ 427,300 . The price range that tended to sell the quickest was the $ 150,001 to $ 250,000 range at 86 days . The price range that tended to sell the slowest was the $ 350,001 to $ 500,000 range at 168 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 were up 19.5 percent . The property type with the largest gain was the Condos segment , where the number of properties for sale increased 38.9 percent . That amounts to 2.4 months of inventory for Single-Family Homes and 3.5 months of inventory for Condos .

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