Market Reflection – May 2023

Spring Has Sprung

May means it is officially Spring.  Spring is such an exciting time on Hilton Head with so many events to look forward to.  Speaking of excitement, what an incredible finish at the RBC Heritage tournament with Matt Fitzpatrick winning in a playoff.  Our weather was spectacular and the 55th year of RBC Heritage saw a field of top talent due to the elevated status this year by the PGA tour.

RBC4 Fitzpatrick7EP 2
rbc 1

A Look At Our Current Market

New listings continued to fall in April in both Hilton Head and Bluffton.  Year to date, there is almost 30% fewer listing on Hilton Head than this time last year and 26% less in Bluffton. We know we sound like a broken record, but we have to keep saying it anyway, there are still more buyers than sellers with inventory still at an all-time low.


Hilton Head home sales are off 29% from last year’s numbers, villa sales are off 35.5%.  Bluffton’s home sales are off 28.8%, while villa sales are down 41%.  It is interesting to note that land sales have slowed reflecting the effect of increased rates, lack of builder confidence, and increased building costs.  All of that said, even with interest rates doubling, inflation, and economic uncertainty, our area remains extremely desirable.


For the results you expect and deserve, call the Herman & Davis Team for one stop service where you will receive property prep guidance, knowledgeable vendors for repairs, staging, professional marketing, expert negotiations, and listing/closing concierge services. Regardless of whether you are selling or buying, it is extremely important to align yourself with a team that is knowledgeable, reputable, and committed to all your real estate needs.