HILTON HEAD AREA Market Overview information provided by Hilton Head MLS and Hilton Head Area Association of Realtors®
One-year change in closed sales -1.2% One-year change in Median Sales Price +0.9% One-year change in Months Supply +44%
U.S. existing-home sales declined for the third consecutive month, as higher mortgage rates and rising sales prices hindered market activity during what has traditionally been one of the busiest months of the year. According to the National Association of REALTORS® (NAR), sales of previously owned homes dipped 0.7% month-over-month and 2.8% year-over-year, to a seasonally adjusted annual rate of 4.11 million units.
New Listings were down 16.5 percent to 506. Pending Sales decreased 1.1 percent to 441. Inventory grew 41.4 percent to 1,577 units.
Prices moved higher as Median Sales Price was up 0.9 percent to $540,000. Days on Market increased 20.5 percent to 53 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
06-2023 06-2024 Percent Change
YTD 2023 YTD 2024 Percent Change
New Listings
506
3,774
606
- 16.5%
+ 10.9%
3,403
6-2022
6-2023
6-2024
Pending Sales
441
2,967
446
- 1.1% 2,923
+ 1.5%
6-2022
6-2023
6-2024
Closed Sales
587
2,906
594
- 1.2% 2,688
+ 8.1%
6-2022
6-2023
6-2024
Cumulative Days on Market
53
57
+ 32.6%
44
+ 20.5% 43
6-2022
6-2023
6-2024
Median Sales Price
$535,000 $540,000
+ 0.9% $507,000 $544,608
+ 7.4%
6-2022
6-2023
6-2024
Average Sales Price
$707,433 $750,720
+ 6.1% $699,405 $744,497
+ 6.4%
6-2022
6-2023
6-2024
Pct. of List Price Received
98.1%
98.0%
98.3%
- 0.2% 98.1%
- 0.1%
6-2022
6-2023
6-2024
HILTON HEAD HOMES | 2024 3
Housing Affordability Index
60
59
61
- 1.6% 65
- 9.2%
6-2022
6-2023
6-2024
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