December 2017 Housing Supply Hilton-Head_HSO_2017-12

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® December 2017 Inventory was again a driving metric in residential real estate in 2017, whether the fewer number of homes available put a damper on sales or created lower affordability due to competitive demand between eager buyers willing to raise the percent of original list price received at sale. For the 12-month period spanning January 2017 through December 2017, Pending Sales in the Hilton Head region were up 15.8 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 28.9 percent. The overall Median Sales Price was up 2.6 percent to $300,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 4.1 percent to $335,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 119 days; the price range that tended to sell the slowest was the $650,001 and Above range at 213 days. Market-wide, inventory levels were down 6.9 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 4.7 percent. That amounts to 5.3 months supply for Single-Family homes and 4.4 months supply for Condos. Quick Facts + 28.9% + 17.1% + 29.6% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $375,001 to $650,000 4 Bedrooms or More Condos 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 January 10, 2018 Data is Copyright © 2017 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2017 ShowingTime. | 1