March 2020 Market Indicators March-Monthly-Market-Indicator
Monthly Indicators
March 2020
As COVID-19’s impact spread across the country in March, the stock market
declines started in February accelerated downward before recovering a bit in the
last week of the month. With volatility across all the financial markets, lenders began
tightening underwriting standards and some buyers found they no longer were
approved for a loan. Massive layoffs also shook the economy with 3.28 million initial
jobless claims filed in a single week—the highest in history more than four times
over.
New Listings were down 2.7 percent to 728. Pending Sales decreased 14.2 percent
to 446. Inventory shrank 12.5 percent to 2,196 units.
Prices moved higher as Median Sales Price was up 7.8 percent to $350,250. Days
on Market increased 7.9 percent to 150 days. Months Supply of Inventory was down
17.5 percent to 4.7 months, indicating that demand increased relative to supply.
While the effect of COVID-19 is varied throughout the country, we are likely to see
impacts to housing activity now and into the coming months. Its continued spread is
leading many companies and consumers to change their daily activities.
ShowingTime is closely monitoring the situation and releasing daily updates on
changes in showing activity. See national and state showing activity trends at
https://www.showingtime.com/impact-of-coronavirus/.
Quick Facts
+ 5.6% + 7.8% - 17.5%
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
2
3
4
5
6
7
8
9
10
11
12
Current as of April 10, 2020. Data is Copyright © 2020 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2020 ShowingTime. | 1