HILTON HEAD AND BLUFFTON REAL ESTATE NEWS UPDATE OCTOBER 2015

Posted by on Friday, November 13th, 2015 at 12:11pm.

For the 12-month period spanning November 2014 through October 2015, pending sales in the Hilton Head region are up 17.6 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 28.3 percent.

 The overall median sales price rose 8.3 percent to $275,000. The property type with the largest price gain was the condo segment, where prices increased 8.7 percent to $190,750. The price range that tended to sell fastest was the $100,001 to $225,000 range at 89 days; the price range that tended to sell the slowest was the $650,001 and above range at 157 days.

Market-wide, inventory levels dropped 13.1 percent. The property type that lost the least inventory was the single family segment, where it decreased 12.5 percent. That amounts to 6.4 months’ supply for single family homes and 7.2 months’ supply for Condos.

As a Real Estate leader on the Island, Foundation Realty will help you obtain market information and establish the probable value of your property. If you foresee a change in your Hilton Head Island or Bluffton ownership on the horizon, acting sooner rather than later is a wise decision. Please e-mail us at Support@FoundationRealtyTeam.com or call us at (843)686-4002.

For a detailed market report by plantation, click here.

 

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