September 2017 Monthly Indicators Hilton-Head_MMI_2017-09

Monthly Indicators
September 2017
Every market is unique, yet the national sentiment has given rise to the notion that
housing markets are stalling. Although desirous buyers are out on an increasing
number of showings, there remains a limited number of desirable listings. And
although mortgage rates have remained enticingly low, home prices have reached
unaffordable levels for many new entrants into the housing pool at exactly the same
time that established owners are proving to be less interested in moving.
New Listings were down 16.9 percent to 434. Pending Sales decreased 11.0
percent to 292. Inventory shrank 12.9 percent to 2,169 units.
Prices moved higher as Median Sales Price was up 1.7 percent to $295,000. Days
on Market increased 18.2 percent to 156 days. Months Supply of Inventory was
down 17.4 percent to 5.7 months, indicating that demand increased relative to
supply.
Last year at this time, the national storyline was about how high demand was
propping up sales and prices despite low inventory and months of supply. That has
actually continued to be a familiar refrain for many months in 2017 and now for the
past couple of years. But with the likes of Hurricanes Harvey and Irma, different
employment outlooks, disparate incomes, varying new construction expectations
and potential housing policy shifts, regional differences are becoming more
prevalent and pronounced.
Quick Facts
- 14.0% + 1.7% - 12.9%
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 October 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