Charter One Realty Blog

With a shortage of existing homes for sale, many prospective buyers are turning to new construction for their next home purchase. But with rising construction costs, many buyers are finding that they can’t afford to purchase a new home. Nearly 7 out of 10 U.S. households can’t afford a new median-priced home, according to data recently released by the National Association of Home Builders (NAHB), which found that 69% of U.S. households lack the income to qualify for a mortgage of $412,506 using standard underwriting criteria. 

Hilton Head & Mainland Real Estate Market Update - February 2022

For the 12-month period spanning March 2021 through February 2022, pending sales in the Hilton Head region were down -8.8 percent overall. Market-wide, inventory levels were down -48.6 percent, amounting to 0.7 months supply for single-family homes and 0.4 months supply for condos.

View the full report here. 

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

Year to date in 2022, new listings of homes for sale on Hilton Head were down -33.5 percent overall. Closed home sales on Hilton Head were down -30.4 percent and the median sales price increased +8.1 percent. Inventory levels of homes for sale were down -57.1  percent compared to February 2021. 

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

Year to date in 2022, new listings of condos/villas for sale on Hilton Head were down -25.2 percent overall. Closed condo/villas sales on Hilton Head were up +3.9 percent and the median sales price increased by +97.9 percent. Inventory levels of condos/villas for sale were down -57.3 percent compared to February 2021. 

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

Year to date in 2022, new listings of homes for sale on the Mainland were down -19.5 percent overall. Closed home sales on the Mainland were down -28.0 percent and the median sales price increased by +26.0 percent. Inventory levels of homes for sale were down -51.0percent compared to February 2021. 

Beaufort Area Real Estate Market Update - February 2022

For the 12-month period spanning March 2021 through February 2022, Pending Sales in the Beaufort region were down -4.7 percent overall. Market-wide, inventory levels were down -43.5 percent, amounting to 0.7 months supply for single-family homes and 0.7 months supply for condos.

Read the full report here.