August 2018 Housing Supply Overview August-Housing-Supply-Report

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® August 2018 Quick Facts The potential of an affordability conundrum has veered into the national spotlight, as household wages struggle to keep pace with home price increases. Yet it is ill-advised to predict a heavy shift toward fewer sales and lower prices. Consumers have learned a lot in the last decade. For the 12- month period spanning September 2017 through August 2018, Pending Sales in the Hilton Head region were up 16.1 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 24.2 percent. The overall Median Sales Price was up 5.8 percent to $312,219. The property type with the largest price gain was the Condos / Villas segment, where prices increased 7.1 percent to $225,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 111 days; the price range that tended to sell the slowest was the $650,001 and Above range at 199 days. Market-wide, inventory levels were up 1.3 percent. The property type that gained the most inventory was the Condos segment, where it increased 10.0 percent. That amounts to 5.2 months supply for Single-Family homes and 4.9 months supply for Condos. + 24.2% + 19.4% + 17.7% 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 Current as of September 10, 2018 Data © 2018 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2018 ShowingTime. | 1