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 2 3 4 5 6 7 8 9 10 11 12 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