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Market Metrics – Tracking Key Events Amid the Pandemic

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Hilton Head/Bluffton Real Estate Tracking amid COVID

Key events in South Carolina during the global pandemic

A fascinating story here in the Lowcountry in terms of real estate activity in 2020.

The number of new contracts that are taking place in comparison to the number of new listings coming on the market. We’ve placed in the timeline the key events related to COVID-19 in South Carolina or affecting South Carolina.

Hilton Head area real estate luxury market segment activity July 2020

The luxury real estate market has doubled in 2020

Sales have skyrocketed. In particular, we have seen a 100% increase in the number of million-dollar and above transactions taking place year to date compared to prior years.

Monthly Housing Supply Graph |Collins Group Realty

Monthly Housing Supply Graph

When you have fewer listings coming on the market and high demand you end up getting a tightened monthly housing supply. This determines whether a particular community is experiencing a buyer’s market, a balanced market, or a seller’s market. Many communities that were previously experiencing a higher monthly housing supply are now in a seller’s market condition, with multiple offer scenarios at times.

Learn more about your community’s monthly housing supply, what you need to do to take advantage of this real estate market, schedule a virtual or onsite consultation – Schedule Online