February 2018 Housing Supply February-Housing-Supply-Outlook

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® February 2018 Mortgage rates are on the rise. When this happens, it means that buyers in the lower-priced categories tend to have the dilemma of choosing to pay more for their desired home, paying less to get less, waiting for more listings or saving more money toward a downpayment. For the 12-month period spanning March 2017 through February 2018, Pending Sales in the Hilton Head region were up 13.5 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 20.2 percent. The overall Median Sales Price was up 5.2 percent to $305,000. The property type with the largest price gain was the Condos / Villas segment, where prices increased 10.8 percent to $221,000. 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 212 days. Market-wide, inventory levels were down 7.0 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 1.4 percent. That amounts to 5.6 months supply for Single-Family homes and 3.9 months supply for Condos. Quick Facts + 20.2% + 17.4% + 29.4% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $375,001 to $650,000 2 Bedrooms or Less 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 March 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