July-Housing-Supply-Overview

Housing Supply Overview
A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS®
July 2020
Strong buyer demand in the face of a constrained supply of homes for sale
continues to be the story again this month. New construction activity, in the
form of housing starts as reported by the Department of Commerce, has
picked up in recent weeks but remains well below levels required to
substantially increase the number of homes for sale. Continued low interest
rates are expected to maintain healthy buyer activity, while reluctant sellers
and the changing season are likely to drag the inventory of homes for sale
lower into the late summer and early fall market. For the 12-month period
spanning August 2019 through July 2020, Pending Sales in the Hilton Head
region were up 12.0 percent overall. The price range with the largest gain in
sales was the $650,001 and Above range, where they increased 51.9
percent.
The overall Median Sales Price was up 4.7 percent to $335,000. The property
type with the largest price gain was the Single-Family Homes segment,
where prices increased 4.3 percent to $365,000. The price range that tended
to sell the quickest was the $100,001 to $225,000 range at 110 days; the
price range that tended to sell the slowest was the $650,001 and Above
range at 190 days.
Quick Facts
+ 51.9% + 27.4
Price Range With the
Strongest Sales:
$650,001 and Above 4 Bedrooms
Pending Sales
Bedroom Co
Strongest S
Days on Market Until Sale
Median Sales Price
Percent of List Price Receiv
Inventory of Homes for Sale
Months Supply of Inventory
Market-wide, inventory levels were down 27.8 percent. The property type
that lost the least inventory was the Single Family segment, where it
decreased 26.2 percent. That amounts to 3.4 months supply for Single-
Family homes and 3.1 months supply for Condos.
Current as of August 10, 2020 Data © 2020 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Ca