HILTON HEAD AREA Market Overview information provided by Hilton Head MLS and Hilton Head Area Association of Realtors®
One-year change in closed sales -5.8% One-year change in Median Sales Price +3.8% One-year change in Months Supply +25%
U.S. existing-home sales unexpectedly slipped 1.0% month-over-month and 3.5% year- over-year to a seasonally adjusted annual rate of 3.84 million, the lowest level in more than a decade, according to the National Association of REALTORS® (NAR). Prospective buyers have pulled back in recent months, despite lower mortgage rates and more home choices compared to the same time last year.
New Listings were up 3.3 percent to 592. Pending Sales increased 22.0 percent to 427. Inventory grew 24.9 percent to 1,732 units.
Prices moved higher as Median Sales Price was up 3.8 percent to $545,000. Days on Market increased 6.9 percent to 155 days. Months Supply of Inventory was up 25.0 percent to 4.0 months.
Market Overview
Key market metrics for the current month and year-to-date figures.
Key Metrics
Historical Sparkbars
10-2023 10-2024 Percent Change
YTD 2023 YTD 2024 Percent Change
New Listings
592
5,971
573
+ 3.3%
+ 5.7%
5,647
10-2022
10-2023
10-2024
Pending Sales
427
4,532
350
+ 22.0% 4,586
- 1.2%
10-2022
10-2023
10-2024
Closed Sales
405
4,732
430
- 5.8% 4,651
+ 1.7%
10-2022
10-2023
10-2024
Days on Market
155
152
+ 2.7%
145
+ 6.9% 148
10-2022
10-2023
10-2024
Median Sales Price
$525,000 $545,000
+ 3.8% $510,000 $545,000
+ 6.9%
10-2022
10-2023
10-2024
Average Sales Price
$695,287 $787,271 + 13.2% $691,231 $749,201
+ 8.4%
10-2022
10-2023
10-2024
Pct. of List Price Received
97.6%
98.0%
98.0%
- 0.4% 98.1%
- 0.1%
10-2022
10-2023
10-2024
HILTON HEAD HOMES | 2024 3
Housing Affordability Index
61
61
+ 8.9%
54
+ 13.0% 56
10-2022
10-2023
10-2024
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