Wrapping up the summer season with full speed into fall...
It feels like Fall, summer is winding down, kids are back in school, football season has arrived, and the “locals” have once again taken control of the island. Please find enclosed your August 2024 market report letter.
The median home prices in Hilton Head Island and Bluffton have seen an increase over the past year. As of August 2024, the median sales price for a single-family home in Hilton Head remains at $1,050,000 which is a 5% increase from last year at this time. Bluffton’s median price of $555,000 reflects an increase of 2.45%. Inventory levels remain relatively tight despite a 9.5% increase from last year in Hilton Head and a 12.5% increase in Bluffton. Homes are staying on the market longer, and sellers are seeing lower list-to-sale ratios. Overall, the market is showing signs of softening and returning to more typical conditions. Consumer confidence has dipped compared to the past few years, with more offers now including additional contingencies. However, with interest rates beginning to decline, both buying and selling activity has picked up, presenting new opportunities
Now more than ever, it is vitally important to work with a seasoned Real Estate Professional. Experience, a successful track record, and extensive market knowledge make THE DIFFERENCE in this market. We take the sale of your home very seriously. We are happy to share our personalized approach to marketing and our pricing strategy to earn you top dollar. Our team is here to provide you with guidance as we move into the final months of the year.
