Millennials are entering the housing market at a record pace, fueling demand and driving sales prices higher amid an epic housing shortage. Currently, millennials represent 22% of the U.S. population but make up 43% of the current market share, according to a survey by the National Association of REALTORS®. With nearly a quarter of the population approaching their peak earning years over the next two decades, this new generation of homebuyers are expected to have a big impact on the economy—and on the housing market—in the years to come. 

Hilton Head & Mainland Real Estate Market Update - March 2022

For the 12-month period spanning April 2021 through March 2022, pending sales in the Hilton Head region were down -17.4 percent overall. Market-wide, inventory levels were down -25.6 percent, amounting to 1.0 months supply for single-family homes and 0.6 months supply for condos.

View the full report here. 

Hilton Head Real Estate Market Report March 2022

 

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

Year to date in 2022, new listings of homes for sale on Hilton Head were down -22.8 percent overall. Closed home sales on Hilton Head were down -37.3 percent and the median sales price increased +6.5 percent. Inventory levels of homes for sale were down -35.9  percent compared to March 2021. 

 

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

Year to date in 2022, new listings of condos/villas for sale on Hilton Head were down -22.9 percent overall. Closed condo/villas sales on Hilton Head were down -6.6 percent and the median sales price increased by +39.9 percent. Inventory levels of condos/villas for sale were down -42.6 percent compared to March 2021. 

 

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

Year to date in 2022, new listings of homes for sale on the Mainland were down -8.8 percent overall. Closed home sales on the Mainland were down -26.3 percent and the median sales price increased by +31.9 percent. Inventory levels of homes for sale were down -25.8 percent compared to March 2021. 

 

Beaufort Area Real Estate Market Update - March 2022

For the 12-month period spanning April 2021 through March 2022, pending sales in the Beaufort region were down -10.8 percent overall. Market-wide, inventory levels were down -23.1 percent, amounting to 0.7 months supply for single-family homes and 0.8 months supply for condos.

Read the full report here.

 BMLS Key Metrics March 2022

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