May 2017 Housing Supply Hilton-Head_HSO

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® May 2017 Quick Facts Finding adequate supply is still an issue in most markets, as demand continues to overwhelm the current stock of homes for sale. There are signs of improvement in new construction. Some builders sense that the extended trend of low inventory equates to opportunity and profit. For the 12-month period spanning June 2016 through May 2017, Pending Sales in the Hilton Head region were up 1.8 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 10.8 percent. The overall Median Sales Price was up 2.6 percent to $294,895. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 3.7 percent to $326,500. The price range that tended to sell the quickest was the $100,000 and Below range at 120 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 down 7.7 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 4.3 percent. That amounts to 6.4 months supply for Single-Family homes and 5.8 months supply for Condos. + 10.8% + 4.4% + 9.9% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $650,001 and Above 2 Bedrooms or Less Condos 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 June 10, 2017 Data is Copyright © 2017 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2017 ShowingTime. | 1