April 2020 Indicators April-Monthly-Market-Reports
Monthly Indicators
April 2020
Quick Facts
While the stock market recovered significantly in March, the effects of COVID-19 to
the economy continue to build. In just the last four weeks, more than 20 million
people filed initial unemployment claims according to the United States Department
of Labor, fueled by stay at home orders and a slowdown of economic activity across
the country. Added to the unemployment claims from March, more than 30 million
people have become unemployed since COVID-19 has become widespread in the
U.S. In the face of these challenging times, real estate activity in April slowed
significantly.
New Listings were down 35.8 percent to 425. Pending Sales decreased 42.6
percent to 322. Inventory shrank 10.3 percent to 2,217 units.
Prices moved higher as Median Sales Price was up 5.7 percent to $335,000. Days
on Market decreased 4.3 percent to 133 days. Months Supply of Inventory was
down 10.7 percent to 5.0 months, indicating that demand increased relative to
supply.
While the effect of COVID-19 continues to vary widely across the country, it is
expected that social distancing, higher unemployment, and lower overall economic
activity is likely to continue to constrain real estate activity in the near term. At the
same time, the industry is adapting to the current environment by conducting
business using technologies such as virtual showings and e-signing to help buyers
and sellers with their housing needs in the face of these challenges.
- 16.3% + 5.7% - 10.7%
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
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Current as of May 10, 2020. Data is Copyright © 2020 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2020 ShowingTime. | 1