For the 12-month period spanning February 2017 through January 2018, Pending Sales in the Hilton Head region were up 13.7 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 23.5 percent. The overall Median Sales Price was up 3.9 percent to $302,750.
The property type with the largest price gain was the Condos / Villas segment, where prices increased 4.9 percent to $215,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 119 days; the price range that tended to sell the slowest was the $650,001 and Above range at 212 days. Market-wide, inventory levels were down 9.3 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 5.2 percent. That amounts to 5.3 months supply for Single-Family homes and 4.0 months supply for Condos.
New Listings were down 7.3 percent to 493. Pending Sales increased 6.3 percent to 388. Inventory shrank 9.3 percent to 2,007 units. Prices moved higher as Median Sales Price was up 9.8 percent to $328,000. Days on Market decreased 4.4 percent to 153 days. Months Supply of Inventory was down 19.4 percent to 5.0 months, indicating that demand increased relative to supply.
If you think Hilton Head or Bluffton might be the right town for you, let us help. With Realtor specialists in every community, we are here to serve you. We have offices at mid island Folly Field and Bluffton Crossing next to PGA Superstore and Hobby Lobby. We look forward to working with you in 2018.
Featured Listing: 56 Port Tack
Totally remodeled 3 bedroom home on the water in Palmetto Dunes. Designer kitchen and bathroom renovations. Kitchen is fully loaded, master on the first floor, double master vanities and walk-in closets. Brand new front and back porches, screened in porch, lagoon view and a short walk to the beach.
Palmetto Dunes - $725,000 3/3.5 2,240 2 Car Garage Water View
View Listing: 56 Port Tack
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