Beaufort News

S.C. real estate group releases October housing market data

South Carolina Realtors has released its October real estate market reports.

The reports reveal the number of homes, condos and villas sold across the state compared with last year has declined by more than 5 percent, while the number of average days on market is also down by 12 percent compared with last year. New listings also decreased by almost 7 percent to 7,693, as did pending sales, which decreased 10 percent to 4,798.

Inventory shrank 6 percent to 37,453 units, but prices moved higher as the median sales price was up almost 8 percent to $174,460. Inventory was down throughout October by 17 percent to six months.

In Beaufort, the number of residential homes, condos and villas sold dropped 18.8 percent to 138.

In the Hilton Head Island area, the number dropped 4.2 percent to 316.

The median price increased in both areas, with Beaufort going up 6.2 percent to $175,000 and Hilton Head increasing 1.2 percent to $284,968.