Lowcountry Real Estate Market Report - August 2020

Posted by Paige Rose on Wednesday, September 30th, 2020 at 2:36pm

Hilton Head Area Real Estate Market Report

Housing Supply Outlook - August 2020

According to the August Housing Supply Overview from the Hilton Head Area Association of Realtors, for the 12- month period spanning September 2019 through August 2020, Pending Sales in the Hilton Head region were up 15.0 percent overall. Market-wide, inventory levels were down 29.0 percent, amounting to 3.2 months supply for single-family homes. Additionally, the luxury market is performing better than it has in years. Year-to-date, the sales of $1M plus properties in the Hilton Head region are up 66% over the same period last year.  Read the full report here.

 

Beaufort Area Real Estate Market Report

Housing Supply Outlook - August 2020

For the 12-month period spanning September 2019 through August 2020, Pending Sales in the Beaufort region were up 18.9 percent overall. The price range with the largest gain in sales was the $300,001 and above range, where they increased 38.1 percent.

The overall Median Sales Price was up 4.2 percent to $250,000. The property type with the largest price gain was the condos segment, where prices increased 6.3 percent to $170,000. The price range that tended to sell the quickest was the $100,000 and below range at 55 days; the price range that tended to sell the slowest was the $300,001 and above range at 130 days.

Market-wide, inventory levels were down 30.3 percent. The property type that lost the least inventory was the condos segment, where it decreased 8.3 percent. That amounts to 2.9 months supply for single-family homes and 4.5 months supply for Condos. Read the full report here.

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