June 2016 Monthly Indicators

Monthly Indicators
June 2016

Quick Facts

Halfway through 2016, residential real estate markets are performing as predicted at
the beginning of the year. Sales and prices have been going up in most areas, while
the number of homes for sale and total months' supply of inventory have been going
down. Meanwhile, many sellers have been getting a higher percentage of their
asking price, and supply continues to struggle to meet demand. The message may
be repetitive, but it is largely positive.
New Listings were up 9.1 percent to 563. Pending Sales decreased 6.7 percent to
434. Inventory grew 2.1 percent to 2,442 units.
Prices moved higher as Median Sales Price was up 4.3 percent to $302,336. Days
on Market decreased 9.9 percent to 136 days. Months Supply of Inventory was
down 9.5 percent to 6.7 months, indicating that demand increased relative to
supply.
The national unemployment rate recently dropped 0.3 percent to 4.7 percent, but
some states felt more of a pinch in their own figures. Similarly, the low inventory
situation is showing signs of strain in markets where there are few homes for
purchase. With an interest rate increase still in the cards this year, combined with
the American political landscape and global economic events, a cooldown could
occur by winter. Presently, however, summery growth prevails as many locales are
reaching near-record prices not seen in more than a decade.

+ 1.2%

+ 4.3%

+ 2.1%

One-Year Change in
Closed Sales

One-Year Change in
Median Sales Price

One-Year Change in
Months Supply

A research tool provided by the Hilton Head Association of REALTORS®
Percent changes are calculated using rounded figures.

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

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Current as of July 10, 2016. Data is Copyright © 2016 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