Closed sales for Hilton Head Island MLS which includes villas and lots in May of 2008 were 196 and 185 in May of 2009 for a 5.6% decrease.  Median price of these sales:  May of 2008 - $311,000 and May of 2009 – $274,000 for a decrease of 11.9%.

These statistics are based on closed sales (sales happened 60 days before).  Pending sales for the same time period showed home sales up and villa sales down.  Statewide there were 4,715 in May of 2008 versus 3,04 in May of 2009 for a 21.4% decrease.  The median price for statewide sales went from $154,000 to $142,000 for a decrease in sales of 7.6%. 

Most MLS Boards saw quite drastic decreases in 2009 sales compared to 2008 sales; Aiken was down 32%, Beaufort was down 12%, Charleston was down 19%, Myrtle Beach was down 10%, Columbia was down 21%, Greenville was down 48% and Spartanburg was down 20% – showing that sales were down across the board. 

What does this mean?  It means that the rest of the state started to slow down.  They had not been experiencing the slowdown of sales that coastal areas had seen.  The economy has hit us all.