May 2018 Housing Supply May-Housing-Supply-Report

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® May 2018 Quick Facts Having a balanced number of homes for sale is an ongoing concern in most submarkets, as demand exceeds inventory. New construction optimism is tempered by building costs, but clever builders will figure out ways to turn profits while the economy is ripe for production. For the 12-month period spanning June 2017 through May 2018, Pending Sales in the Hilton Head region were up 17.4 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 24.1 percent. The overall Median Sales Price was up 5.0 percent to $309,558. The property type with the largest price gain was the Condos / Villas segment, where prices increased 12.1 percent to $227,500. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 115 days; the price range that tended to sell the slowest was the $650,001 and Above range at 209 days. Market-wide, inventory levels were down 7.1 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 5.8 percent. That amounts to 5.3 months supply for Single-Family homes and 4.5 months supply for Condos. + 24.1% + 22.2% + 17.3% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $375,001 to $650,000 4 Bedrooms or More Single-Family 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, 2018 Data © 2018 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2018 ShowingTime. | 1