HHI / Bluffton May Market Indicator

Monthly Indicators
May 2020
While the effects of COVID-19 in the broader economy continue, real estate activity
is beginning to recover across much of the country. According to Freddie Mac,
mortgage rates have been below 3.3 percent for more than four weeks and are
hovering near all-time lows, spurring strong interest by buyers and lifting showing
activity up 4% nationally versus a year ago in the final week of May.
New Listings were down 25.2 percent to 519. Pending Sales increased 11.3 percent
to 629. Inventory shrank 15.9 percent to 2,055 units.
Prices moved higher as Median Sales Price was up 0.1 percent to $320,340. Days
on Market decreased 2.9 percent to 133 days. Months Supply of Inventory was
down 16.4 percent to 4.6 months, indicating that demand increased relative to
supply.
Buyers have been quicker to return to the housing market in force than sellers,
who have been showing a bit more reluctance to list their homes than is typical for
this time of year. But trends are improving and as states and localities continue to
moderate their COVID-19 policies, real estate activity is expected to continue to
improve in the coming weeks.
Quick Facts
- 42.9% + 0.1
One-Year Change in
Closed Sales
One-Year Cha
Median Sales
A research tool provided by the Hilton Hea
Percent changes are calculated using roun
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
Current as of June 10, 2020. Data is Copyright © 2020 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Ca