The present housing market in Hanahan is down with high active listings and low sales volume. Home prices have decreased 4.8% in the past month. With 4 active listings, inventory is 300% higher than seasonal norms. Homes are now taking an average of 126 days to sell, significantly longer than the 42 days typical for this market. A significant 75.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Hanahan market with the affordability index at 90.2. Based on current market indicators, home prices in Hanahan are projected to increase by approximately 36.3% over the next month.
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