November 2017 Monthly Indicators Hilton-Head_MMI

Monthly Indicators November 2017 The facts of residential real estate have remained consistent in 2017. In year-over- year comparisons, the number of homes for sale has been fewer in most locales, and homes have been selling in fewer days for higher prices. This hasn't always been true, but it has been a common enough storyline to make it an overarching trend for the year. New Listings were up 23.7 percent to 480. Pending Sales increased 39.5 percent to 410. Inventory shrank 6.5 percent to 2,143 units. Prices moved higher as Median Sales Price was up 9.0 percent to $316,568. Days on Market decreased 5.2 percent to 147 days. Months Supply of Inventory was down 16.9 percent to 5.4 months, indicating that demand increased relative to supply. New tax legislation could have ramifications on housing. The White House believes that the tax reform bill will have a small impact on home prices, lowering them by less than 4 percent, and could conceivably boost homeownership. The National Association of REALTORS® has stated that eliminating the mortgage interest deduction could hurt housing, as the doubled standard deduction would reduce the desire to take out a mortgage and itemize the interest associated with it, thus reducing demand. This is a developing story. Quick Facts + 8.8% + 9.0% - 16.9% 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 December 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

November 2017 Monthly Indicators Hilton-Head_MMI_2017-11