HSO October 2015
Monthly Indicators
December 2015
In 2015, national residential real estate, by and large, had a good year. Supply and
demand were healthy in an environment rife with low interest rates and improved
employment. The Federal Reserve finally increased short-term rates in December,
and more increases are expected in 2016. Housing markets have shown a
willingness to accept this. Save for a few expensive outliers where low inventory and
high prices have become the norm, a balanced market is anticipated for much of the
country for the foreseeable future. Improved inventory and affordability remain key
factors for continued optimism.
New Listings were up 17.8 percent to 338. Pending Sales increased 16.8 percent to
285. Inventory shrank 7.2 percent to 2,141 units.
Prices moved higher as Median Sales Price was up 8.9 percent to $299,500. Days
on Market decreased 9.7 percent to 121 days. Months Supply of Inventory was
down 23.1 percent to 6.0 months, indicating that demand increased relative to
supply.
Gross Domestic Product increased at an annual rate near 2.0 percent to close 2015,
and that rate is expected to increase next year. Residential real estate is considered
a healthy piece of the national economy. Contributing factors from within the
industry include better lending standards and foreclosures falling back to more
traditional levels. Declining unemployment, higher wages and low fuel prices have
also conspired to improve personal budgets.
Quick Facts
+ 14.7%
+ 8.9%
- 7.2%
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 January 10, 2016. Data is Copyright © 2014 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Powered by 10K. | 1