September 2017 Housing Supply Overview Hilton-Head_HSO_2017-09

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® September 2017 Low housing supply is both a month-over-month and now multiple year- over-year happening. Lawrence Yun, Chief Economist for the National Association of REALTORS®, has gone as far as saying that the national housing market is essentially stalled. For the 12-month period spanning October 2016 through September 2017, Pending Sales in the Hilton Head region were up 4.5 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 8.9 percent. The overall Median Sales Price was up 2.1 percent to $296,000. The property type with the largest price gain was the Condos / Villas segment, where prices increased 3.6 percent to $213,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 120 days; the price range that tended to sell the slowest was the $650,001 and Above range at 205 days. Market-wide, inventory levels were down 12.9 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 9.0 percent. That amounts to 6.0 months supply for Single-Family homes and 4.9 months supply for Condos. Quick Facts + 8.9% + 7.9% + 3.2% 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 Current as of October 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