August-Monthly-Indicators

Monthly Indicators
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 while housing
inventory remained limited, continuing the competitive bidding market we have seen
in recent months. With the stock indexes at or near record highs as mortgage rates
remain near record lows, signs point to a busy fall housing market.
New Listings were up 14.8 percent to 689. Pending Sales increased 43.9 percent to
688. Inventory shrank 29.0 percent to 1,618 units.
Prices moved higher as Median Sales Price was up 20.0 percent to $375,000. Days
on Market increased 16.3 percent to 157 days. Months Supply of Inventory was
down 39.2 percent to 3.1 months, indicating that demand increased relative to
supply.
As we look towards the fall, we normally see housing activity begin to slow a bit as
the back-to-school season begins, but this year is far from normal. While uncertainty
remains on what effects the upcoming elections and any seasonal resurgence of
COVID-19 may have on the financial and housing markets, the healthy housing
demand we see today will create significant tailwinds in the near term.
Quick Facts
+ 32.5% + 20.0
One-Year Change in
Closed Sales
One-Year Cha
Median Sales
A research tool provided by the Hilton Hea
Percent changes are calculated using roun
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
Current as of September 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 Ca