October 2017 Housing Supply Overview Hilton-Head_HSO_2017-10

Housing Supply Overview
A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS®
October 2017
Supply will dip for the remainder of the year, but there are some hopeful
signs that we may see a bump in the new year. To say that more inventory
will immediately impact housing markets is premature, especially if
affordability continues to drop and prices continue to rise. For the 12-month
period spanning November 2016 through October 2017, Pending Sales in the
Hilton Head region were up 9.7 percent overall. The price range with the
largest gain in sales was the $375,001 to $650,000 range, where they
increased 14.4 percent.
The overall Median Sales Price was up 2.6 percent to $297,500. The property
type with the largest price gain was the Condos / Villas segment, where
prices increased 2.5 percent to $213,125. The price range that tended to sell
the quickest was the $100,001 to $225,000 range at 119 days; the price
range that tended to sell the slowest was the $650,001 and Above range at
207 days.
Market-wide, inventory levels were down 7.3 percent. The property type that
lost the least inventory was the Single Family segment, where it decreased
3.3 percent. That amounts to 6.0 months supply for Single-Family homes and
4.7 months supply for Condos.
Quick Facts
+ 14.4% + 12.5% + 137.7%
Price Range With the
Strongest Sales: Bedroom Count With
Strongest Sales: Property Type With
Strongest Sales:
$375,001 to $650,000 2 Bedrooms or Less 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 November 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