Lowcountry Real Estate Market Report - November 2020

Posted by Paige Rose on Tuesday, December 15th, 2020 at 9:08am

Hilton Head Area Real Estate Market Report

Housing Supply Outlook - November 2020

Inventory remains constrained in most segments of the market, while buyer activity remains strong. With the holiday season upon us, both buyer and seller activity typically follow seasonal slowdowns before rebounding in the new year. For the 12-month period spanning December 2019 through November 2020, pending sales in the Hilton Head region were up 28.0 percent overall. The price range with the largest gain in sales was the $650,001 and above range, where they increased 86.0 percent.

The overall median sales price was up 13.0 percent to $363,700. The property type with the largest price gain was the condos / villas segment, where prices increased 15.6 percent to $270,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 107 days; the price range that tended to sell the slowest was the $650,001 and Above range at 189 days.

Market-wide, inventory levels were down 46.2 percent. The property type that lost the least inventory was the single-family segment, where it decreased 45.5 percent. That amounts to 2.1 months supply for single-family homes and 1.8 months supply for condos. Read the full report here.

 

Beaufort Area Real Estate Market Report

Housing Supply Outlook - November 2020

For the 12-month period spanning December 2019 through November 2020, pending sales in the Beaufort region were up 25.2 percent overall. The price range with the largest gain in sales was the $300,001 and above range, where they increased 52.6 percent.

The overall Median Sales Price was up 7.5 percent to $260,000. The property type with the largest price gain was the single-family homes segment, where prices increased 8.2 percent to $276,000. The price range that tended to sell the quickest was the $100,000 and below range at 52 days; the price range that tended to sell the slowest was the $300,001 and Above range at 126 days.

Market-wide, inventory levels were down 41 percent. The property type that lost the least inventory was the condos segment, where it decreased 36.1 percent. That amounts to 2.1 months supply for single-family homes and 2.6 months supply for condos. Read the full report here. 

Leave A Comment

Format example: yourwebsitename.com

What's Your Home Worth? Find out now, for Free.

Let's Go