HILTON HEAD AREA Market Overview information provided by Hilton Head MLS and Hilton Head Area Association of Realtors®
One-year change in closed sales -5.9% One-year change in Median Sales Price +6.5% One-year change in Months Supply +44%
U.S. existing home sales fell 5.4% month-over-month and 5.4% year-over-year to a seasonally adjusted annual rate of 3.89 million units, with monthly sales down in all four regions, according to the National Association of REALTORS® (NAR). Higher mortgage rates, along with rising sales prices, have kept many prospective buyers on the sidelines, despite more home choices and less competition for those homes.
New Listings were up 5.5 percent to 576. Pending Sales increased 0.4 percent to 482. Inventory grew 41.1 percent to 1,584 units.
Prices moved higher as Median Sales Price was up 6.5 percent to $540,000. Days on Market increased 36.6 percent to 56 days. Months Supply of Inventory was up 44.0 percent to 3.6 months.
Market Overview
Key market metrics for the current month and year-to-date figures.
Key Metrics
Historical Sparkbars
07-2023 07-2024 Percent Change
YTD 2023 YTD 2024 Percent Change
New Listings
576
4,350
546
+ 5.5%
+ 10.2%
3,949
7-2022
7-2023
7-2024
Pending Sales
482
3,423
480
+ 0.4% 3,403
+ 0.6%
7-2022
7-2023
7-2024
Closed Sales
482
3,398
512
- 5.9% 3,200
+ 6.2%
7-2022
7-2023
7-2024
Cumulative Days on Market
56
56
41
+ 36.6% 43
+ 30.2%
7-2022
7-2023
7-2024
Median Sales Price
$507,000 $540,000
+ 6.5% $507,000 $544,165
+ 7.3%
7-2022
7-2023
7-2024
Average Sales Price
$659,658 $721,659
+ 9.4% $693,043 $741,763
+ 7.0%
7-2022
7-2023
7-2024
Pct. of List Price Received
98.0%
98.0%
98.3%
- 0.3% 98.2%
- 0.2%
7-2022
7-2023
7-2024
HILTON HEAD HOMES | 2024 3
Housing Affordability Index
60
60
- 6.3%
64
- 6.3% 64
7-2022
7-2023
7-2024
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