October 2019 HSO October-Housing-Supply-Outlook

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® October 2019 Quick Facts Historically low mortgage rates will continue to support buyer demand as we enter the seasonally slower time of year. Throughout much of the country, the continued low level of housing inventory also continues to constrain sales activity from where it would likely be in a balanced market. In short, current trends are expected to continue. For the 12-month period spanning November 2018 through October 2019, Pending Sales in the Hilton Head region were up 7.1 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 14.2 percent. The overall Median Sales Price was up 3.5 percent to $325,000. The property type with the largest price gain was the Condos / Villas segment, where prices increased 3.1 percent to $233,750. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 111 days; the price range that tended to sell the slowest was the $650,001 and Above range at 191 days. + 14.2% + 13.8% + 6.6% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $225,001 to $375,000 2 Bedrooms or Less 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 Market-wide, inventory levels were down 9.6 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 6.1 percent. That amounts to 4.9 months supply for Single-Family homes and 4.0 months supply for Condos. Current as of November 10, 2019 Data © 2019 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2019 ShowingTime. | 1