October 2016 Housing Supply Overview
Housing Supply Overview
A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS®
October 2016
The low inventory situation is not expected to change anytime soon. But
changing housing tastes combined with demographic shifts indicate that
more homes will inevitably enter the market one day, either as listings by
aging boomers or as newly built multifamily rentals. For the 12-month period
spanning November 2015 through October 2016, Pending Sales in the Hilton
Head region were up 5.2 percent overall. The price range with the largest
gain in sales was the $375,001 to $650,000 range, where they increased 18.0
percent.
The overall Median Sales Price was up 6.0 percent to $291,399. The property
type with the largest price gain was the Condos / Villas segment, where
prices increased 9.0 percent to $208,000. The price range that tended to sell
the quickest was the $100,000 and Below range at 110 days; the price range
that tended to sell the slowest was the $650,001 and Above range at 199
days.
Quick Facts
+ 18.0%
+ 6.5%
+ 6.8%
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
Single-Family
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
Market-wide, inventory levels were down 3.4 percent. The property type that
gained the most inventory was the Single Family segment, where it increased
0.1 percent. That amounts to 6.3 months supply for Single-Family homes and
6.5 months supply for Condos.
Current as of November 10, 2016 Data is Copyright © 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2016 ShowingTime. | 1