Here’s a recap of what happened in the 2020 Hilton Head real estate market.

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The year-end numbers for 2020 are in, so today I wanted to briefly recap what happened last year with you. It was certainly tumultuous; the first quarter started out bumpy as sales slowed dramatically and the world went into lockdown because of COVID. At that point, people weren't quite sure what to make of the market.

Then, it staged one of the biggest rebounds in the real estate market that I’ve ever seen in my 18 years. One thing is super clear: Buyer activity dramatically outpaced seller activity and created a recipe for low inventory and multiple-offer scenarios.

We certainly couldn’t have predicted how 2020 went. Here are some specific numbers from our market:

  • Pending sales increased by 30.9%

  • Closed sales were up 24%

  • Inventory plummeted by 51% while sales went through the roof

  • The median sale price is up 13% to $367,250

“Buyer activity dramatically
outpaced seller activity.”

That’s a quick synopsis of what the 2020 market looked like for us. We’re looking forward to an even better 2021 as it’s one of the best times ever to be a seller.

If you have any questions about the market or are thinking about buying or selling a home, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.