February 2020 HSO February-Housing-Supply-Overview

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® February 2020 Quick Facts Mortgage rates trending lower are a boost to home buyers, but the declines in the stock market have both a psychological and practical impact for some prospective home buyers. A watchful eye must be maintained on the spread of COVID-19 and whether it begins to impact the overall economy, which would lead to a tempering of buyer activity in the future. For the 12-month period spanning March 2019 through February 2020, Pending Sales in the Hilton Head region were up 8.7 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 19.1 percent. The overall Median Sales Price was up 3.6 percent to $325,000. The property type with the largest price gain was the Condos / Villas segment, where prices increased 8.6 percent to $239,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 109 days; the price range that tended to sell the slowest was the $650,001 and Above range at 193 days. + 19.1% + 14.1% + 9.0% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $225,001 to $375,000 4 Bedrooms or More Single-Family 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 Market-wide, inventory levels were down 14.5 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 11.4 percent. That amounts to 4.4 months supply for Single- Family homes and 3.8 months supply for Condos. Current as of March 10, 2020 Data © 2020 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2020 ShowingTime. | 1