April 2020 Indicators April-Housing-Supply-Outlook

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® April 2020 Quick Facts In April, the stock market pared some of its March losses while overall economic activity nationally continued to slow. With more than 20 million initial unemployment claims filed nationwide in April on top of more than 10 million initial claims in the last two weeks of March, suddenly much of the country is out of work, at least temporarily. This dramatic economic slowdown is reflected in this month’s real estate activity, which is down significantly. For the 12-month period spanning May 2019 through April 2020, Pending Sales in the Hilton Head region were up 1.8 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 14.2 percent. The overall Median Sales Price was up 4.0 percent to $329,540. The property type with the largest price gain was the Condos / Villas segment, where prices increased 6.2 percent to $239,950. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 106 days; the price range that tended to sell the slowest was the $650,001 and Above range at 191 days. + 14.2% + 14.0% + 4.7% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $650,001 and Above 4 Bedrooms or More Single-Family Pending Sales Days on Market Until Sale Median Sales Price Percent of List Price Received Inventory of Homes for Sale Months Supply of Inventory 2 3 4 5 6 7 Market-wide, inventory levels were down 10.3 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 9.3 percent. That amounts to 5.0 months supply for Single-Family homes and 4.9 months supply for Condos. Current as of May 10, 2020 Data © 2020 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2020 ShowingTime. | 1