Hilton Head area gets pricier. Which gated community had the most expensive home sales in October?
Last month, home prices in the Hilton Head area continued to rise. Coupled with increasing interest rates, it’s sidelining many prospective buyers, according to the most recent Hilton Head Area Realtors reports.
Median prices were 5.9% higher in October of this year than in October 2022. They went from $495,860 to $525,000, according to the reports. Home sales are down 5.1%, from 451 in October 2022 to 428 in October of this year.
To understand how the current real estate market is impacting specific communities, the Island Packet and Beaufort Gazette mapped where the most closed sales and highest median prices were in October. Out of all the gated communities, Realtors closed the most sales in Sun City, including Riverbend, and Latitude Margaritaville with 63 and 36 closed sales, respectively. The median prices were $485,215 and $488,388, respectively. These 55-and-older communities also had the highest sales last month.
For Hilton Head gated communities, Realtors closed the most sales in Hilton Head Plantation with 16 sales and a $858,889 median price. It’s the same Hilton Head gated community that had the most sales in September. Some communities are segmented by attached properties (condos) and detached properties (houses).
Palmetto Bluff and Palmetto Dunes are the only communities that were in the top five for most home sales and most expensive homes.
Here is where the most sales were:
- Hilton-Head-Plantation — 16
- Forest-Beach, condos — 13
- Sea-Pines, houses —11
- Palmetto Bluff — 11
- Palmetto Dunes, condos — 7
The most expensive median home sale prices were:
- Spring-Island — $3,125,000
Wexford — $2,387,500
Palmetto Bluff — $2,100,000
Fripp-Island — $1,793,265
Palmetto Dunes, houses — $1,750,000
HILTON HEAD AREA REALTORS
The Hilton Head Area Realtors market reports include information on properties sold north and south of the Broad River; however, the largest areas of focus are Hilton Head, Bluffton, Daufuskie Island and Hardeeville. The data is broken down by neighborhood.
If you’re reading this article in our print edition and want to interact with the maps, go to www.islandpacket.com.
This story was originally published November 16, 2023 at 12:01 AM.
