January 2020 HSO January-Housing-Supply-Outlook

Housing Supply Overview
A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS®
January 2020
Quick Facts
As the cost of renting continues to increase, consumers have more incentive
to lock in their housing costs by purchasing a home. The latest CoreLogic
Single-Family Rent Index report released this month saw the cost of renting
single-family homes, including condos, up 3% in November 2019 versus
November 2018. According to CoreLogic’s data, single-family rents started
climbing in 2010 and have stabilized around an annualized rate of 3% since
early 2019. For the 12-month period spanning February 2019 through
January 2020, Pending Sales in the Hilton Head region were up 8.7 percent
overall. The price range with the largest gain in sales was the $650,001 and
Above range, where they increased 17.4 percent.
The overall Median Sales Price was up 3.5 percent to $325,000. The property
type with the largest price gain was the Condos / Villas segment, where
prices increased 4.4 percent to $235,000. The price range that tended to sell
the quickest was the $100,001 to $225,000 range at 110 days; the price
range that tended to sell the slowest was the $650,001 and Above range at
191 days.
+ 17.4% + 13.5% + 8.6%
Price Range With the
Strongest Sales: Bedroom Count With
Strongest Sales: Property Type With
Strongest Sales:
$650,001 and Above 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
Market-wide, inventory levels were down 12.3 percent. The property type
that lost the least inventory was the Single Family segment, where it
decreased 9.3 percent. That amounts to 4.5 months supply for Single-Family
homes and 3.9 months supply for Condos.
Current as of February 10, 2020 Data © 2020 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2020 ShowingTime. | 1