October 2018 Housing Supply Overview October-Housing-Supply-Report

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® October 2018 Quick Facts Although every community is different, a general analysis of all housing markets across the country reveals that housing inventory is slowly moving toward balance with year-ago levels. This is the first indication in years that we may be approaching an inventory bottom. For the 12-month period spanning November 2017 through October 2018, Pending Sales in the Hilton Head region were up 13.8 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 23.4 percent. The overall Median Sales Price was up 5.4 percent to $313,558. The property type with the largest price gain was the Condos / Villas segment, where prices increased 7.1 percent to $227,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 109 days; the price range that tended to sell the slowest was the $650,001 and Above range at 192 days. Market-wide, inventory levels were up 2.6 percent. The property type that gained the most inventory was the Condos segment, where it increased 14.7 percent. That amounts to 5.3 months supply for Single-Family homes and 5.3 months supply for Condos. + 23.4% + 17.9% + 17.1% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $650,001 and Above 3 Bedrooms 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 November 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