Lowcountry Real Estate Market Report - March 2021

Posted by Paige Rose on Tuesday, April 13th, 2021 at 4:11pm

March sales activity picked up where February left off, with an already redhot market showing no signs of slowing. Rising home prices and mortgage rates are affecting affordability, but have yet to impact demand, as sales continue to increase. Extremely constrained supply in many market segments will continue to fuel multiple offers and rising home prices. 

Hilton Head & Mainland Real Estate Market Update - March 2021

For the 12-month period spanning April 2020 through March 2021, pending sales in the Hilton Head region were up 48.9 percent overall. The price range with the largest gain in sales was the $650,001 and above range, where they increased 134.5 percent.

Market-wide, inventory levels were down 72.4 percent. The property type that lost the least inventory was the single-family segment, where it decreased 71.9 percent. That amounts to 1.0 months supply for single-family homes and .8 months supply for condos.

View the full report here.

Key Metrics March 2021

Hilton Head Island Homes - Real Estate Market Snapshot - March 2021

Year to date in 2021, new listings of homes for sale on Hilton Head were up +.05 percent overall. Closed home sales on Hilton Head were up 60.0 percent and the median sales price increased 26.8 percent. Inventory levels of homes for sale were down -72.8 percent compared to March 2020. 

Hilton Head Island Condos/Villas - Real Estate Market Snapshot - March 2021

Year to date in 2021, new listings of condos/villas for sale on Hilton Head were up +21.6 percent overall. Closed condo/villas sales on Hilton Head were up 57.6  percent and the median sales price increased by 11.6 percent. Inventory levels of condos/villas for sale were down -75.6 percent compared to March 2020. 

Mainland Homes (29910 and 29909) - Real Estate Market Snapshot - March 2021

Year to date in 2021, new listings of homes for sale on the Mainland were up +0.7 percent overall. Closed home sales on the Mainland were up 37.5  percent and the median sales price increased by 7.6 percent. Inventory levels of homes for sale were down -77.1 percent compared to March 2020. 

Beaufort Real Estate Market Update - March 2021

For the 12-month period spanning April 2020 through March 2021, pending sales in the Hilton Head region were up 43.7 percent overall. The price range with the largest gain in sales was the $300,001 and above range, where they increased 100.0 percent.

Market-wide, inventory levels were down 69.3 percent. The property type that lost the least inventory was the condos segment, where it decreased 55.0 percent. That amounts to 0.9 months supply for single-family homes and 1.4 months supply for condos.

View the full report here. 

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