The Sun City Hilton Head Monthly Market Report January | SECTION B | Volume 13 I Issue 1 Now that 2023 has come to a close, it's time to reflect on how the real estate landscape in Sun City fared compared to previous years. One of the most significant changes from 2022 to 2023 was in the inventory. We witnessed a remarkable 184% increase in the number of homes listed for sale. Alongside this, there was a 10% uptick in the median home price and a 12% decrease in closed sales. Many market experts are predicting a trend toward lower-interest rates, enticing both buyers and sellers who have been on the sidelines to rejoin the market, potentially leading to increased activity. Only time will tell. Currently, there's a healthy supply of homes for buyers to choose from, allowing for negotiations on terms with sellers. Sellers, on the other hand, are still holding onto significant gains accrued over the past several years.
I've summarized 2023 in a Year in Review, covering every sale by model and including market analysis. Contact me for a copy via phone or email today.
782
2022
726
2023
New Listings
$510,750
684
2022
600
$465,000
2023
2022
2023
Median Home Price
Closed Sales
Sun City Yearly Comparison Snapshot Key Metrics New Listings Closed Sales Median Sales Price Year-to-Date Percent of List Price Received (Sale-to-List Ratio) Inventory of Homes For Sale
2022
2023
Percent Change
782 684 $465,000 100% 32
726 600 $510,750 98.58% 91
-7% -12% 9.9% -1.4% 184%
Information provided by the Multiple Listing Service of Hilton Head Island and the Hilton Head Area Association of REALTORS®
GARY SMYTHE Real Estate Advisor (843) 301-1591 | Gary@GarySmythe.com www.Raveis.com/Agent/GarySmythe
“These Properties were not all listed or sold by William Raveis and were listed and sold by various MLS Participating Offices.” If your property is currently listed with another Realtor this is not intended to be a solicitation. This information is believed to be accurate but not guaranteed.