The Sun City Hilton Head The Sun City Hilton Head Monthly Market Repor t M onthly Market Repor t July 2024 | SECTION B | Volume 13 I Issue 7 July 2024 | SECTION B | Volume 13 I Issue 7
What’s My Home Worth? Follow the QR code to get instant results! What’s My Home Worth? Follow the QR code to get instant results!
The real estate market in Sun City is experiencing a notable shift, with a significant increase in the number of listings compared to the prepandemic era. Currently, thereCity areis155 active listings, a 15% increase last month. This is partly to the inclusiontoofthe approxThe real estate market in Sun experiencing a notable shift, with afrom significant increase in surge the number of due listings compared preimately 15 spec homes under construction, which are now available for sale alongside existing resales. Historically, an increasing number of pandemic era. Currently, there are 155 active listings, a 15% increase from last month. This surge is partly due to the inclusion of approxhomes drives construction, prices down. which However, Sun available City has shown WhenHistorically, comparing the median year-to-date imately for 15 sale spectypically homes under are now for saleremarkable alongside resilience. existing resales. an increasing number of home prices for 2023 to 2024, prices have leveled off, losing less than 1%. This minor decline suggests that while the market year-to-date is adjusting, homes for sale typically drives prices down. However, Sun City has shown remarkable resilience. When comparing the median it remains relatively stable. One key indicator of this off, market pressure is the in price reductions. Currently, 41% of all active home prices for 2023 to 2024, prices have leveled losing less than 1%.noticeable This minorrise decline suggests that while the market is adjusting, listings have experienced leastkey one price cut. Thismarket trend highlights competition sellers, who Currently, are feeling41% the pressure to it remains relatively stable.atOne indicator of this pressure isgrowing the noticeable rise inamong price reductions. of all active make their properties more attractive to buyers. This market presents an opportunity for buyers to have a wider selection of homes to listings have experienced at least one price cut. This trend highlights growing competition among sellers, who are feeling the pressure to choose fromproperties and negotiate sellerstomore favorably compared to a an year ago. For sellers, it offers a chance to capitalize onhomes their propermake their more with attractive buyers. This market presents opportunity for buyers to have a wider selection of to ties while prices remain near historic highs. H o w C a n I A s s i s t Y o u ? : For homeowners considering selling their properties in the near fuchoose from and negotiate with sellers more favorably compared to a year ago. For sellers, it offers a chance to capitalize on their properture, I invite you remain to reachnear out historic for a comprehensive an homeowners in-depth market review. By understanding the current ties while prices highs. HowMarket Can I AAnalysis ssist Youand ?: For considering selling their properties in the market near fudynamics, we can tailor a strategy that ensures your home stands out and fetches the best possible value in this evolving landscape. ture, I invite you to reach out for a comprehensive Market Analysis and an in-depth market review. By understanding the current market dynamics, we can tailor a strategy that ensures your home stands out and fetches the best possible value in this evolving landscape.
Sun City Real Estate Mar ket Snapshot Sun City Real Estate Mar ket Snapshot Key Metrics Key Metrics
June 2023 June 2024 Percent Change June 2023 June 2024 Percent Change New Listings 53 47 Ͳ19% New Listings 53 47 Ͳ19% Closed Sales 53 73 +38% Closed Sales 53 73 +38% Median Sales Price YearͲtoͲDate $525,000 $527,515 +.5% Median Sales Price YearͲtoͲDate $525,000 $527,515 +.5% Percent of List Price Received (SaleͲtoͲList Ratio) Ͳ.96% 99.96% 99% Percent of List Price Received (SaleͲtoͲList Ratio) Ͳ.96% 99.96% 99% Inventory of Homes For Sale 68 155 +128% Inventory of Homes For Sale 68 the Hilton Head Area Association 155 of REALTORS® +128% Information provided by the Multiple Listing Service of Hilton Head Island and Information provided by the Multiple Listing Service of Hilton Head Island and the Hilton Head Area Association of REALTORS®
GARY SMYTHE Real Estate Advisor GARY SMYTHE Real Estate Advisor (843) 301-1591 | Gary@GarySmythe.com
(843) 301-1591 | Gary@GarySmythe.com GarySmythe.Raveis.com GarySmythe.Raveis.com “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. “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.