August-Housing-Supply-Overview

Housing Supply Overview
A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS®
August 2020
The housing and stock markets continue to be the leaders in the economy.
In August, showings and pending sales remained at strong levels. Housing
inventory remained limited in many segments, continuing the competitive
bidding we have seen across much of the market in recent months.
Nationally, the Commerce Department and U.S. Housing and Urban
Development report total housing production is up 22.6% to a seasonally
adjusted annual rate of nearly 1.5 million units, the highest rate since
February. According to the National Association of Home Builders estimates,
lumber prices have surged more than 110% since mid-April, adding
approximately $14,000 to the typical new single-family homes. For the 12-
month period spanning September 2019 through August 2020, Pending
Sales in the Hilton Head region were up 15.0 percent overall. The price range
with the largest gain in sales was the $650,001 and Above range, where they
increased 58.6 percent.
The overall Median Sales Price was up 7.8 percent to $345,000. The property
type with the largest price gain was the Condos / Villas segment, where
prices increased 8.7 percent to $250,000. The price range that tended to sell
the quickest was the $100,001 to $225,000 range at 110 days; the price
range that tended to sell the slowest was the $650,001 and Above range at
194 days.
Quick Facts
+ 58.6% + 31.5
Price Range With the
Strongest Sales:
$650,001 and Above 4 Bedrooms
Pending Sales
Bedroom Co
Strongest S
Days on Market Until Sale
Median Sales Price
Percent of List Price Receiv
Inventory of Homes for Sale
Months Supply of Inventory
Market-wide, inventory levels were down 29.0 percent. The property type
that lost the least inventory was the Single Family segment, where it
decreased 28.4 percent. That amounts to 3.2 months supply for Single-
Family homes and 2 9 months supply for Condos
Current as of September 10, 2020 Data © 2020 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Ca