August 2017 Monthly Indicators Hilton-Head_MMI_2017-08

Monthly Indicators
August 2017
August tends to mark the waning of housing activity ahead of the school year. Not
all buyers and sellers have children, but there are enough parents that do not want
to uproot their children during the school year to historically create a natural market
cool down before any actual temperature change. Competition is expected to
remain fierce for available listings. Savvy sellers and buyers know that deals can be
made well into the school months, as household formations take on many shapes
and sizes.
New Listings were down 1.9 percent to 523. Pending Sales increased 11.8 percent
to 484. Inventory shrank 14.5 percent to 2,115 units.
Prices were stable as Median Sales Price remained flat at $295,000. Days on Market
increased 6.9 percent to 140 days. Months Supply of Inventory was down 20.3
percent to 5.5 months, indicating that demand increased relative to supply.
The prevailing trends lasted through summer. This was expected, since there have
not been any major changes in the economy that would affect housing. Factors
such as wage growth, unemployment and mortgage rates have all been stable.
Every locality has its unique challenges, but the whole of residential real estate is in
good shape. Recent manufacturing data is showing demand for housing
construction materials and supplies, which may help lift the ongoing low inventory
situation in 2018.
Quick Facts
+ 4.4% 0.0% - 20.3%
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 September 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