October 2018 Monthly Market Report October-Monthly-Market-Report
Monthly Indicators
October 2018
If the last few months are an indication of the temperature of housing markets
across the country, a period of relative calm can be expected during the last three
months of the year. A trend of market balance is emerging as we approach the end
of 2018. Prices are still rising in most areas, and the number of homes for sale is still
low, but there is a general shrinking of year-over-year percentage change gaps in
sales, inventory and prices.
New Listings were up 17.2 percent to 674. Pending Sales increased 2.8 percent to
446. Inventory grew 2.6 percent to 2,327 units.
Prices moved higher as Median Sales Price was up 5.5 percent to $334,060. Days
on Market decreased 9.5 percent to 134 days. Months Supply of Inventory was
down 10.2 percent to 5.3 months, indicating that demand increased relative to
supply.
Stock markets experienced an October setback, but that does not necessarily
translate to a decline in the real estate market. The national unemployment rate has
been below 4.0 percent for three straight months and during five of the last six
months. This is exceptional news for industries related to real estate. Meanwhile,
homebuilder confidence remains positive, homeownership rates have increased in
the key under-35 buyer group and prices, though still rising, have widely reduced
the march toward record highs.
Quick Facts
+ 3.6% + 5.5% - 10.2%
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 November 10, 2018. Data is Copyright © 2018 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2018 ShowingTime. | 1