MARKET UPDATE - September 2022

The U.S. real estate market continues to slow as we move into fall, as rising consumer prices and higher mortgage interest rates squeeze homebuyer budgets and cool activity. Affordability challenges have priced many buyers out of the market this year, and buyers who do succeed in purchasing a home are finding that the costs of homeownership have increased significantly, with monthly mortgage payments more than 55% higher than a year ago, according to the National Association of REALTORS®. Inventory remains lower than normal, and as the market continues to shift, experts project homes will begin to spend more days on market, and price growth will slow in the months ahead.

Hilton Head & Mainland Real Estate Market Update - September 2022

For the 12-month period spanning October 2021 through September 2022, pending sales in the Hilton Head region were down -22.0 percent overall. Market-wide, inventory levels were up +25.7 percent, amounting to 1.8 months supply for single-family homes and 1.9 months supply for condos.

View the full report here. 

Hilton Head Island Homes - Real Estate Market Snapshot - September 2022

Year to date in 2022, new listings of homes for sale on Hilton Head were down -16.5 percent overall. Closed home sales on Hilton Head were down -32.8 percent and the median sales price increased +17.6 percent. Inventory levels of homes for sale were up +34.0 percent compared to September 2021. 

Hilton Head Island Condos/Villas - Real Estate Market Snapshot - September 2022

Year to date in 2022, new listings of condos/villas for sale on Hilton Head were down -18.5 percent overall. Closed condo/villas sales on Hilton Head were down -19.4 percent, and the median sales price increased by +22.9 percent. Inventory levels of condos/villas for sale were up +8.6 percent compared to September 2021. 

Mainland Homes (29910 and 29909) - Real Estate Market Snapshot - September 2022

Year to date in 2022, new listings of homes for sale on the Mainland were down -7.2 percent overall. Closed home sales on the Mainland were down -21.6 percent and the median sales price increased by +26.3 percent. Inventory levels of homes for sale were up +36.9 percent compared to September 2021. 

Beaufort Area Real Estate Market Update - September 2022

For the 12-month period spanning October 2021 through September 2022, Pending Sales in the Beaufort region were down -12.0 percent overall. Market-wide, inventory levels were up +44.9 percent, amounting to 1.8 months supply for single-family homes and 1.7 months supply for condos.

Read the full report here.