How did Hilton Head real estate start in 2024? January prices and sales

Mary Dimitrov
Michele Meacham/Submitted

Entering 2024, mortgage rates have dropped significantly from their peak last fall, lowering a home-ownership hurdle and playing a part in the National Association of Realtors forecasting a 13% increase in existing home sales this year compared to last.

It already showed in the Hilton Head area real estate market in January. Home buyers purchased 11.8% more homes this January than last: an increase from 279 homes to 312 homes, according to the Hilton Head Association of Realtors January market reports.

In addition to closed sales, the following happened in the Hilton Head area real estate market in January 2024, compared to January 2023, according to the Hilton Head Area Realtors:

  • Prices moved higher — median sales price increased 16% to $579,784

  • Homes took longer to sell — days on the market increased 14.5% to 158 days

  • More homes were available to buy — Inventory grew 30.8% to 1,307 units for sale

The gated communities with the most sales were:

  • Sun City — 36

  • Latitude Margaritaville — 35

  • Hilton Head Plantation — 19

  • Palmetto Bluff — 13

  • Hampton Lake — 10

The most expensive median home sale prices were:

  • Palmetto Dunes —$3,875,000

  • Wexford —$2,887,500

  • Palmetto Bluff —$2,500,000

  • Daufuskie Island — $1,585,000

  • Callawassie Island —$1,570,000

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.

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