HILTON HEAD AREA Market Overview information provided by Hilton Head MLS and Hilton Head Area Association of Realtors®
One-year change in closed sales +7.8% One-year change in Median Sales Price +3.3% One-year change in Months Supply +54.5%
U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR). The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season.
New Listings were up 0.1 percent to 680. Pending Sales decreased 3.0 percent to 518. Inventory grew 44.6 percent to 1,469 units.
Prices moved higher as Median Sales Price was up 3.3 percent to $516,555. Days on Market increased 35.6 percent to 61 days. Months Supply of Inventory was up 54.5 percent to 3.4 months.
Market Overview
Key market metrics for the current month and year-to-date figures.
Key Metrics
Historical Sparkbars
03-2023 03-2024 Percent Change
YTD 2023 YTD 2024 Percent Change
New Listings
680
1,864
679
+ 0.1%
+ 14.1%
1,634
3-2022
3-2023
3-2024
Pending Sales
518
1,475
534
- 3.0% 1,444
+ 2.1%
3-2022
3-2023
3-2024
Closed Sales
514
1,238
477
+ 7.8% 1,076
+ 15.1%
3-2022
3-2023
3-2024
Cumulative Days on Market
61
59
45
+ 35.6% 43
+ 37.2%
3-2022
3-2023
3-2024
Median Sales Price
$500,000 $516,555
+ 3.3% $491,965 $528,753
+ 7.5%
3-2022
3-2023
3-2024
Average Sales Price
$664,092 $695,110
+ 4.7% $672,820 $723,211
+ 7.5%
3-2022
3-2023
3-2024
Pct. of List Price Received
98.3%
98.0%
98.2%
+ 0.1% 98.0%
0.0%
3-2022
3-2023
3-2024
HILTON HEAD HOMES | 2024 3
Housing Affordability Index
60
59
- 14.5%
68
- 11.8% 69
3-2022
3-2023
3-2024
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