July 2016 Housing Supply Overview

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® July 2016 Quick Facts Even as sales activity slows due mostly to a lack of inventory, prices continue to rise in several submarkets and days on market continues to drop. For the 12-month period spanning August 2015 through July 2016, Pending Sales in the Hilton Head region were up 7.3 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 20.0 percent. The overall Median Sales Price was up 7.9 percent to $289,900. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 7.5 percent to $315,000. The price range that tended to sell the quickest was the $100,000 and Below range at 117 days; the price range that tended to sell the slowest was the $650,001 and Above range at 201 days. Market-wide, inventory levels were up 8.4 percent. The property type that gained the most inventory was the Single Family segment, where it increased 10.9 percent. That amounts to 6.7 months supply for Single-Family homes and 7.3 months supply for Condos. + 20.0% + 13.2% + 9.2% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $225,001 to $375,000 2 Bedrooms or Less 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 Current as of August 10, 2016 Data is Copyright © 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2016 ShowingTime. | 1