January 2018 Monthly Indicators Hilton-Head_MMI_2018-01
Monthly Indicators
January 2018
Last year, U.S. consumers seemed to be operating with a renewed but cautious
optimism. The stock market was strong, wages were edging upwards and home
buying activity was extremely competitive. Not much has changed in 2018 in terms
of those measures, yet there is a sort of seasoned prudence mixed into the high
emotions that go with a major expense like a home purchase. We are now several
years deep into a period of rising prices and low inventory. Those in the market
to buy a home have caught on. As sellers attempt to take advantage of rising
prices, expect buyers to be more selective.
New Listings were down 7.3 percent to 493. Pending Sales increased 6.3 percent to
388. Inventory shrank 9.3 percent to 2,007 units.
Prices moved higher as Median Sales Price was up 9.8 percent to $328,000. Days
on Market decreased 4.4 percent to 153 days. Months Supply of Inventory was
down 19.4 percent to 5.0 months, indicating that demand increased relative to
supply.
Whatever external forces are placed upon residential real estate markets across the
country – whether they are related to tax legislation, mortgage rates, employment
situation changes, new family formations, the availability of new construction and
the like – the appetite for home buying remains strong enough to drive prices
upward in virtually all markets across the country. New sales are not necessarily
following that trend, but monthly increases are expected until at least late summer.
Quick Facts
+ 23.6% + 9.8% - 19.4%
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 February 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