April 2019 Monthly Indicators Hilton-Head_MMI_2019-04

Monthly Indicators
April 2019
Quick Facts
For much of the country, the first quarter of 2019 provided several disruptive
weather patterns that contributed to less foot traffic toward potential home sales.
Coupled with low affordability, higher prices and an inventory situation in its infancy
of recovering from record lows – not to mention several more days of wintry weather
in April – slower sales persisted across most residential real estate markets.
However, buyers are beginning to return in force this spring. For well-priced homes
in desirable locations, competition is fierce.
New Listings were down 1.6 percent to 662. Pending Sales increased 7.3 percent to
588. Inventory grew 4.8 percent to 2,403 units.
Prices moved higher as Median Sales Price was up 2.4 percent to $319,250. Days
on Market increased 3.7 percent to 140 days. Months Supply of Inventory was down
1.8 percent to 5.4 months, indicating that demand increased relative to supply.
The national unemployment rate dropped to 3.6 percent during April 2019, the
lowest level since 1969. A historically low unemployment rate can provide
reassurance to wary consumers. But in order for sales to increase on a grand scale,
buyers will need more spending power, or sellers will need to reduce prices to land
where buyers are most active. Neither situation is likely to occur in 2019, yet
inventory is straining to keep pace in the most competitive price ranges.
- 2.9% + 2.4% - 1.8%
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, 2019. Data is Copyright © 2019 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2019 ShowingTime. | 1