![]() ![]() If you own a single-family home, what’s happening with your property’s value? Compared to Hilton Head, the prices in the Beaufort-Jasper area didn’t increase as much during the pandemic, but the Beaufort-Jasper area’s price increase is slowing down less now. While prices are still increasing, they’re moving more slowly. It’s a 9.5% increase from this time last year when the average price was $361,000.įrom 2021 to 2022 the average price mid-way through the year increased 18.7%. ![]() The median price of residential homes, condos and villas sold in June was $410,875, bringing the average price up to $395,284 so far this year. ![]() Last year, from 2021 to 2022, the average price mid-way through the year increased 23.1%. It’s a 6.1% increase from this time last year when the average price was $475,960. While there will be a second analysis of condos, villas and townhouses later this week, the median price of all properties, including residential homes, condos and villas sold in June was $529,362, bringing the average price for 2023 up to $505,038. Here’s what the data looks like halfway through 2023, and what experts said about the following topics: What’s happening with single-family property values in general? To interpret the data, The Island Packet and Beaufort Gazette spoke with representatives from both groups. Months supply of inventory is calculated by taking the number of homes for sale at the end of a month and dividing it by the average monthly pending sales from the last 12 months. When there isn’t a lot of inventory and prices are high it’s considered a sellers market and when there’s more inventory and prices are low it’s considered a buyers market. How is it determined if it’s a buyers or sellers market?įive to eight months inventory is considered a balanced market, and inventory increases when demand lessens and new listings keep being added to the market. The Beaufort-Jasper County Association of Realtor market reports include the most comprehensive data for northern Beaufort County and Jasper County. The Hilton Head Area Realtor market reports includes information on properties sold north and south of the Broad River however the largest areas of focus are Hilton Head, Bluffton, Daufuskie and Hardeeville. Between low inventory and increasing borrowing costs, they report markets are cooling down slightly. Information deemed reliable but not guaranteed.Home Partners of America and A New Path to Homeownership are registered trademarks of Home Partners of America LLC.The Hilton Head Area Realtors and Beaufort-Jasper County Association of Realtors released their June market reports earlier this month, providing insightful data on home inventory, prices, construction and days on the sale market for the first half of 2023.ĭemand continues to outpace supply in both markets, causing prices to rise but more slowly than before the Federal Reserve began a series of quarter point bumps in prime rates. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services. Contact a local real estate professional or the school district(s) for current information on schools. School information does not guarantee enrollment. This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. ![]() Listing information is deemed reliable but not guaranteed accurate. Each office is independently owned and operated. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. All rights reserved.ĬENTURY 21 ®, the CENTURY 21 Logo and C21 ® are service marks owned by Century 21 Real Estate LLC. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |