Hilton Head Island, Bluffton, & The Surrounding SC Lowcountry
Blog
Oct 27, 2016
The housing story for the past 12 months remains the same. Demand is high, supply is low and interest rates have been steady. Finding ways to motivate homeowners to be home sellers will be key over the next year. For the 12-month period spanning October 2015 through September 2016, Pending Sales in the Hilton Head region were up 7.6 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 19.6 percent.
The overall Median Sales Price was up 5.5 percent to $290,000. The property type with the largest price gain was the Condos / Villas segment, where prices increased 8.5 percent to $208,000. The price range that tended to sell the quickest was the $100,000 and Below range at 114 days; the price range that tended to sell the slowest was the $650,001 and Above range at 195 days.
Market-wide, inventory levels were up 3.3 percent. The property type that gained the most inventory was the Single Family segment, where it increased 6.6 percent. That amounts to 6.5 months supply for Single-Family homes and 6.7 months supply for Condos.
If you want to make a little piece of The Island your own, you need more than just a road map and a REALTOR. You need a partner who can make things happen.
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