March 2019 Housing Supply Overview March-Housing-Supply-Outlook

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® March 2019 Quick Facts Housing supply has continued to struggle to replenish itself in most markets across the U.S., which is contributing to an overall decline in sales. Yet low inventory is not the only slowing factor in a buying environment with historically high prices. For the 12-month period spanning April 2018 through March 2019, Pending Sales in the Hilton Head region were up 8.5 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 17.9 percent. The overall Median Sales Price was up 3.3 percent to $315,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 2.0 percent to $344,740. The price range that tended to sell the quickest was the $100,000 and Below range at 106 days; the price range that tended to sell the slowest was the $650,001 and Above range at 185 days. Market-wide, inventory levels were up 7.4 percent. The property type that gained the most inventory was the Condos segment, where it increased 18.4 percent. That amounts to 5.5 months supply for Single-Family homes and 5.4 months supply for Condos. + 17.9% + 13.2% + 17.4% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $650,001 and Above 3 Bedrooms 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 April 10, 2019 Data © 2019 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2019 ShowingTime. | 1