February 2019 Housing Supply Overview February-Housing-Supply-Overview

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® February 2019 Quick Facts Although inventory continues to show signs of improvement across the country – especially in markets in the western part of the U.S. – the national increase seems to be coinciding with a reduction in sales. This could be because the inventory increases are in higher price ranges that many buyers cannot currently afford. For the 12-month period spanning March 2018 through February 2019, Pending Sales in the Hilton Head region were up 10.9 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 22.3 percent. The overall Median Sales Price was up 2.9 percent to $313,715. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 1.3 percent to $342,250. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 106 days; the price range that tended to sell the slowest was the $650,001 and Above range at 186 days. Market-wide, inventory levels were up 5.5 percent. The property type that gained the most inventory was the Condos segment, where it increased 29.9 percent. That amounts to 5.1 months supply for Single-Family homes and 5.3 months supply for Condos. + 22.3% + 15.1% + 29.3% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $650,001 and Above 3 Bedrooms 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, 2019 Data © 2019 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2019 ShowingTime. | 1