December 2017 Monhtly Indicators Hilton-Head_MMI_2017-12

Monthly Indicators
December 2017
The number of homes for sale, days on market and months of supply were all down
in year-over-year comparisons in a majority of the country for the entirety of 2017,
as was housing affordability. And although total sales volumes were mixed, prices
were consistently up in most markets. Buyers may not benefit from higher prices,
but sellers do, and there should be more listing activity by more confident sellers in
2018. At least that would be the most viable prediction for an economic landscape
pointing toward improved conditions for sellers.
New Listings were up 18.9 percent to 327. Pending Sales increased 44.3 percent to
306. Inventory shrank 6.9 percent to 2,049 units.
Prices moved higher as Median Sales Price was up 5.0 percent to $314,000. Days
on Market decreased 3.3 percent to 148 days. Months Supply of Inventory was
down 19.0 percent to 5.1 months, indicating that demand increased relative to
supply.
Unemployment rates have remained low throughout 2017, and wages have shown
improvement, though not always to levels that match home price increases. Yet
housing demand remained incredibly strong in 2017, even in the face of higher
mortgage rates that are likely to increase further in 2018. Home building and selling
professionals are both cautiously optimistic for the year ahead. Housing and
economic indicators give reason for this optimism, with or without new federal tax
legislation.
Quick Facts
+ 25.9% + 5.0% - 19.0%
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 January 10, 2018. Data is Copyright © 2018 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2018 ShowingTime. | 1