The Hilton Head Homes Blog - Real Estate Market Reports

June 2018 Market Report

Housing markets across the nation are most assuredly active this summer, and buyer competition is manifesting itself into several quick sales above asking price.  While the strength of the U.S. economy has helped purchase offers pile up, the Fed recently increased the federal funds rate by 0.25 percent, marking the second rate hike this year and seventh since late 2015. Although the 30-year mortgage rate did not increase, buyers often react by locking in at the current rate ahead of assumed higher rates later. When this happens, accelerated price increases are possible, causing further strain on affordability.

New Listings were up 9.8 percent to 619. Pending Sales increased 3.8 percent to 466. Inventory shrank 4.3 percent to 2,254 units. Prices moved…

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May 2018 Market Report

Just like last year at this time, prospective home buyers should expect a competitive housing market for the next several months. With payrolls trending upward and unemployment trending downward month after month in an extensive string of positive economic news, demand remains quite strong. Given the fact that gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later, buyers need to remain watchful of new listings and make their offers quickly.

New Listings were up 14.8 percent to 669. Pending Sales increased 24.6 percent to 588. Inventory shrank 7.1 percent to 2,211 units. Prices moved higher as Median Sales Price was up 9.7 percent to $328,000. Days on Market decreased 2.8 percent to 139 days.

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April 2018 Market Report

Many sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign.

Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months. New Listings were up 20.4 percent to 673. Pending Sales increased 40.2 percent to 582. Inventory shrank 7.6 percent to 2,224 units. Prices moved higher as Median Sales Price was up 2.7 percent to…

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March 2018 Market Report

New residential real estate activity has been relatively slow in the first quarter of 2018, yet housing is proving its resiliency in a consistently improving economy. Some markets have had increases in signed contracts, but the vast majority of the nation continues to experience fewer closed sales and lower inventory compared to last year at this time. Despite there being fewer homes for sale, buyer demand has remained strong enough to keep prices on the rise, which should continue for the foreseeable future.

New Listings were up 3.9 percent to 774. Pending Sales increased 20.2 percent to 606. Inventory shrank 8.3 percent to 2,189 units.

Prices moved higher as Median Sales Price was up 2.3 percent to $301,870. Days on Market decreased 9.1…

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February 2018 Market Report

The three most prominent national market trends for residential real estate are the ongoing lack of abundant inventory, the steadily upward movement of home prices and year-over-year declines in home sales. Sales declines are a natural result of there being fewer homes for sale, but higher prices often indicate higher demand leading to competitive bidding. Markets are poised for increased supply, so there is hope that more sellers will take advantage of what appears to be a ready and willing buyer base.

• New Listings were up 19.5 percent to 650. Pending Sales increased 14.0 percent to 441. Inventory shrank 7.0 percent to 2,100 units.
• Prices moved higher as Median Sales Price was up 12.2 percent to $314,200. Days on Market decreased 13.7 percent to…

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January 2018 Market Reports

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…

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December 2017 Market Overview

The number of homes for sale, days on market and months of supply were all down in year-over-year comparisons in a majority of the country for the entirety of 2017, as was housing affordability. And although total sales volumes were mixed, prices were consistently up in most markets. Buyers may not benefit from higher prices, but sellers do, and there should be more listing activity by more confident sellers in 2018. At least that would be the most viable prediction for an economic landscape pointing toward improved conditions for sellers.

New Listings were up 18.9 percent to 327. Pending Sales increased 44.3 percent to 306. Inventory shrank 6.9 percent to 2,049 units.

Prices moved higher as Median Sales Price was up 5.0 percent to $314,000.…

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November 2017 Market Overview

The facts of residential real estate have remained consistent in 2017. In year-over-year comparisons, the number of homes for sale has been fewer in most locales, and homes have been selling in fewer days for higher prices. This hasn't always been true, but it has been a common enough storyline to make it an overarching trend for the year.

New Listings were up 23.7 percent to 480. Pending Sales increased 39.5 percent to 410. Inventory shrank 6.5 percent to 2,143 units.  Prices moved higher as Median Sales Price was up 9.0 percent to $316,568. Days on Market decreased 5.2 percent to 147 days. Months Supply of Inventory was down 16.9 percent to 5.4 months, indicating that demand increased relative to supply.

New tax legislation could have…

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September 2017 Market Reports

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving.

New Listings were down 16.9 percent to 434. Pending Sales decreased 11.0 percent to 292. Inventory shrank 12.9 percent to 2,169 units. Prices moved higher as Median Sales Price was up 1.7 percent to $295,000. Days on Market increased 18.2 percent to 156 days. Months Supply of…

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Hilton Head Real Estate Market Indicators, August 2017

Where is the Hilton Head real estate market headed? Consumer sentiment is strong, the economy is improving and real estate sales in the Hilton Head market are robust with indications for continuing growth and sales activity in the foreseeable future. 

For the period from August 2016 through July 2017, the Hilton Head real estate market saw an increase of 3.3% in Closed Sales and a rise in Overall Median Sales Price of 2.1% to $295,000. The $650,001 and Above range saw the largest gain in sales at 17.2% while the $100,001 to $225,000 range sold the quickest at 120 days. It is in the lower-price segment that activity from first-time buyers is most evident. Activity in this segment is crucial to healthy rises in higher-priced segments. 

Across the…

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