June-Monthly-Market-Indicator

Monthly Indicators June 2020 While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers. New Listings were up 21.0 percent to 710. Pending Sales increased 80.6 percent to 903. Inventory shrank 25.1 percent to 1,805 units. Prices moved higher as Median Sales Price was up 8.3 percent to $357,465. Days on Market increased 9.7 percent to 147 days. Months Supply of Inventory was down 29.6 percent to 3.8 months, indicating that demand increased relative to supply. While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season. Quick Facts + 7.3% + 8.3 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 July 10, 2020. Data is Copyright Ā© 2020 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORSĀ® and South Ca