April 2018 Market Indicators April-Housing-Market-Indicator
Monthly Indicators
April 2018
Quick Facts
Many sellers and builders are in a good position for financial gains, as the economy
continues to favor putting existing homes on the market and building new homes for
sale. We are finally beginning to see some upward movement in new listings after at
least two years of a positive outlook. There may not be massive increases in
inventory from week to week, but a longer-term trend toward more new listings
would be a good sign. Low inventory should continue to create a competitive
situation for buyers, causing price increases over the next several months.
New Listings were up 20.4 percent to 673. Pending Sales increased 40.2 percent to
582. Inventory shrank 7.6 percent to 2,224 units.
Prices moved higher as Median Sales Price was up 2.7 percent to $314,500. Days
on Market decreased 5.6 percent to 135 days. Months Supply of Inventory was
down 21.2 percent to 5.2 months, indicating that demand increased relative to
supply.
This winter and spring exhibited unseasonal weather patterns in much of the
country. As the seasons change to something more palatable, wages and consumer
spending are both up, on average, which should translate positively for the housing
market. Being quick with an offer is still the rule of the day as the number of days a
home stays on the market drops lower. If that wasn't enough for buyers to mull over
with each potential offer, being aware of pending mortgage rate increases is once
again in fashion.
+ 26.3% + 2.7% - 21.2%
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 May 10, 2018. Data is Copyright © 2018 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2018 ShowingTime. | 1