May 2019 Monthly Indicators May-Monthly-Market-Indicator (1)

Monthly Indicators
May 2019
Quick Facts
At this point in the year, we are getting a good sense for how the housing market is
likely to perform for the foreseeable future. And although it is not a particularly
exciting forecast, it is a desirable one. Markets across the country are regulating
toward a middle ground between buyers and sellers. While it remains true that sales
prices are running higher and that inventory options are relatively low, buyers are
beginning to find wiggle room at some price points and geographies.
New Listings were up 3.7 percent to 694. Pending Sales increased 9.7 percent to
601. Inventory grew 3.4 percent to 2,363 units.
Prices moved higher as Median Sales Price was up 0.5 percent to $321,500. Days
on Market held steady at 136. Months Supply of Inventory was down 1.9 percent to
5.3 months, indicating that demand increased relative to supply.
An extended trend of low unemployment, higher wages and favorable mortgage
rates has been a terrific driver of housing stability in recent years. What is different
about this year so far is that prices are not rising as quickly. Some of the hottest
Western markets are even cooling slightly, while some Northeast markets are
achieving a state of recovery after a decade of battling back from recession. As a
whole, the selling season is looking fairly stable across the nation.
+ 1.8% + 0.5% - 1.9%
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 June 10, 2019. Data is Copyright © 2019 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2019 ShowingTime. | 1