Jun 20, 2016
Sellers are getting more of their asking price, meaning higher sales prices in most categories. The overall inventory crunch is still in play, but higher priced homes seem to be faring better with inventory in year-over-year comparisons. For the 12-month period spanning June 2015 through May 2016, Pending Sales in the Hilton Head region were up 18.8 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 33.8 percent.
The overall Median Sales Price was up 8.5 percent to $287,500. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 10.1 percent to $315,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 122 days; the price range that tended to sell the slowest was the $650,001 and Above range at 198 days.
Market-wide, inventory levels were down 1.7 percent. The property type that gained the most inventory was the Single Family segment, where it increased 1.0 percent. That amounts to 6.5 months supply for Single-Family homes and 7.0 months supply for Condos.
If you want to make a little piece of The Island your own, you need more than just a road map and a REALTOR. You need a partner who can make things happen.
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