A spike in mortgage rates, increased building costs, and record-setting new home prices continue to take their toll on the construction industry, as new single-family home sales plunged 16.6% month-over-month, according to recent data from the Commerce Department.

Hilton Head & Mainland Real Estate Market Update - May 2022

For the 12-month period spanning June 2021 through May 2022, Pending Sales in the Hilton Head region were down 24.3 percent overall. Market-wide, inventory levels were up 9.4 percent. The property type that gained the most inventory was the Single Family segment, where it increased 11.0 percent. That amounts to 1.3 months supply for Single-Family homes and 1.3 months supply for Condos.

View the full report here. 

Hilton Head Real Estate Market Report April 2022

 

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

Year to date in 2022, new listings of homes for sale on Hilton Head were up +3.9 percent overall. Closed home sales on Hilton Head were down -29.5 percent and the median sales price increased +45.2 percent. Inventory levels of homes for sale were up +16.4 percent compared to May 2021. 

 

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

Year to date in 2022, new listings of condos/villas for sale on Hilton Head were up +13.4 percent overall. Closed condo/villas sales on Hilton Head were down -24.6 percent and the median sales price increased by +33.2 percent. Inventory levels of condos/villas for sale were up +8.8 percent compared to May 2021. 

 

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

Year to date in 2022, new listings of homes for sale on the Mainland were up +1.2 percent overall. Closed home sales on the Mainland were down -27.0 percent and the median sales price increased by +17.5 percent. Inventory levels of homes for sale were up +5.4 percent compared to May 2021. 

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