October 2017 Monthly Indicators Hilton-Head_MMI_2017-10

Monthly Indicators
October 2017
For residential real estate in 2017, the news has continued to provide a relative
sense of calm for both buyers and sellers. The national unemployment rate
registered in at 4.1 percent for October 2017, which means that joblessness has not
been this low in the U.S. since December 2000. Another positive, mortgage rates
have held steady at or near 3.9 percent. Historically, the average rate has been
around 6.0 percent. These factors help to keep the pool of potential buyers full, even
during the so-called off-season of home sales.
New Listings were up 88.5 percent to 575. Pending Sales increased 85.4 percent to
458. Inventory shrank 7.3 percent to 2,199 units.
Prices moved higher as Median Sales Price was up 4.0 percent to $315,000. Days
on Market increased 2.8 percent to 149 days. Months Supply of Inventory was down
16.4 percent to 5.6 months, indicating that demand increased relative to supply.
Although inventory levels are low in many markets, there has largely been enough
listing and building activity, or at least conversation about future activity, to maintain
a positive attitude about the prospects of buying or selling a home. Low affordability
has started to become a recent topic of conversation and is worth watching. But
with a healthy economy, level of demand and national unemployment rate, sellers
are going to continue to see strong prices for their homes.
Quick Facts
+ 50.4% + 4.0% - 16.4%
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
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Current as of November 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