Lowcountry Real Estate Market Report - April 2020

Posted by Paige Rose on Monday, June 1st, 2020 at 12:23pm

April 2020 Real Estate Market Report

 

Hilton Head Area Real Estate Market Report

Housing Supply Outlook - April 2020

In April, the stock market pared some of its March losses while overall economic activity nationally continued to slow. With more than 20 million initial unemployment claims filed nationwide in April on top of more than 10 million initial claims in the last two weeks of March, suddenly much of the country is out of work, at least temporarily. This dramatic economic slowdown is reflected in this month’s real estate activity, which is down significantly. For the 12-month period spanning May 2019 through April 2020, Pending Sales in the Hilton Head region were up 1.8 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 14.2 percent.

The overall Median Sales Price was up 4.0 percent to $329,540. The property type with the largest price gain was the Condos / Villas segment, where prices increased 6.2 percent to $239,950. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 106 days; the price range that tended to sell the slowest was the $650,001 and Above range at 191 days.

Market-wide, inventory levels were down 10.3 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 9.3 percent. That amounts to 5.0 months supply for Single-Family homes and 4.9 months supply for Condos. See the full report here. 

 


 

Beaufort Area Real Estate Market Report

Housing Supply Outlook - April 2020

For the 12-month period spanning May 2019 through April 2020, Pending Sales in the Beaufort region were up 3.9 percent overall. The price range with the largest gain in sales was the $200,001 to $300,000 range, where they increased 15.7 percent.

The overall Median Sales Price was up 4.7 percent to $245,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 4.5 percent to $257,000. The price range that tended to sell the quickest was the $100,000 and Below range at 58 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 10.4 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 7.8 percent. That amounts to 4.6 months supply for SingleFamily homes and 5.7 months supply for Condos. See the full report here. 

 

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