April 2017 Monthly Indicators Hilton-Head_MMI_2017-04

Monthly Indicators
April 2017
Quick Facts
The employment landscape and wages have both improved over the last few years,
allowing for more people to participate in the home-buying process. When the
economy is in good working order, as it is now, it creates opportunities in residential
real estate, and right now is a potentially lucrative time to sell a home. Houses that
show well and are priced correctly have been selling quickly, often at higher prices
than asking.
New Listings were down 10.1 percent to 559. Pending Sales increased 4.0 percent
to 444. Inventory shrank 7.2 percent to 2,338 units.
Prices moved higher as Median Sales Price was up 5.4 percent to $305,000. Days
on Market held steady at 143. Months Supply of Inventory was down 10.0 percent to
6.3 months, indicating that demand increased relative to supply.
Although there is a mounting amount of buyer competition during the annual spring
market cycle, buyer demand has not abated, nor is it expected to in the immediate
future unless something unpredictable occurs. While strong demand is generally
considered a good problem to have, it creates an affordability issue for some
buyers, especially first-time buyers. And yet, prices will continue to rise amidst
strong demand.
- 1.9% + 5.4% - 7.2%
One-Year Change in
Closed Sales One-Year Change in
Median Sales Price One-Year Change in
Months Supply
A research tool provided by the Hilton Head Association of REALTORS®
Percent changes are calculated using rounded figures.
Market Overview
New Listings
Pending Sales
Closed Sales
Days on Market Until Sale
Median Sales Price
Average Sales Price
Percent of List Price Received
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory
2
3
4
5
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10
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Current as of May 10, 2017. Data is Copyright © 2017 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2017 ShowingTime. | 1