April 2018 Housing Supply Overview April-Housing-Supply-Overview

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® April 2018 Quick Facts Although housing supply is low and will likely remain low for the duration of 2018, there are signs of improvement for new listings. Sellers are beginning to come out of hibernation while new build projects are taking shape with more regularity. For the 12-month period spanning May 2017 through April 2018, Pending Sales in the Hilton Head region were up 15.8 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 23.4 percent. The overall Median Sales Price was up 3.4 percent to $305,000. The property type with the largest price gain was the Condos / Villas segment, where prices increased 14.0 percent to $227,500. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 114 days; the price range that tended to sell the slowest was the $650,001 and Above range at 208 days. Market-wide, inventory levels were down 7.6 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 7.5 percent. That amounts to 5.4 months supply for Single-Family homes and 4.7 months supply for Condos. + 23.4% + 19.4% + 15.9% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $375,001 to $650,000 4 Bedrooms or More 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 May 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