June 2017 Housing Supply Report

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® June 2017 Quick Facts A general slowdown in sales across the country has some worried that a more serious housing shortage is forthcoming, but builder confidence would suggest otherwise. Be on the lookout for an improvement in housing starts in the months ahead to quell any fears. For the 12-month period spanning July 2016 through June 2017, Pending Sales in the Hilton Head region were up 4.9 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 16.3 percent. The overall Median Sales Price was up 2.4 percent to $295,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 3.2 percent to $325,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 121 days; the price range that tended to sell the slowest was the $650,001 and Above range at 203 days. Market-wide, inventory levels were down 9.7 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 6.7 percent. That amounts to 6.2 months supply for Single-Family homes and 5.7 months supply for Condos. + 16.3% + 9.8% + 31.9% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $650,001 and Above 4 Bedrooms or More Condos 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 July 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