Hilton Head Island Area Market Stats (MLS)*

  • Median Price - Hilton Head Island Detached Homes YTD: -1.2%
  • Median Price - Hilton Head Island Villas/Condos YTD: +13.1%
  • Median Price - Mainland Detached & Villas/Condos YTD: +5.7%
  • Median Price - Area wide Detached & Villas/Condos YTD: -2.6%
  • Housing Inventory: 2,581 Homes for Sale - 9.2 Months Supply (-32.9%, trending down)
  • Closed Sales YTD: 2,216 (+22.1%)
  • Pending Sales YTD: 2,466 (+19.1%)

     *Current as of August 2012. Next update for September to be released mid- to late-October

To see both reports in full, complete with graphs, click on

 

Monthly Indicators

As the school-aged among us work their way back into classrooms across America, we continue to monitor key improvements in the local housing market with a keener eye. With two-thirds of 2012 complete, we're starting to get a sense for how the year will shake out. Headlines include encouraging phrases like "Recovery Takes Hold", "Home Prices on the Rise" and "Situation Eases for Sellers." Local market conditions can vary Let's see just how much.

New Listings in the Hilton Head region decreased 11.6 percent to 404. Pending Sales were up 43.7 percent to 332. Inventory levels shrank 20.8 percent to 2,581 units.

Prices remained under pressure. The Median Sales Price decreased 16.7 percent to $212,500. Days on Market was up 0.4 percent to 110 days. The supply-demand balance stabilized as Months Supply of Inventory was down 32.9 percent to 9.2 months.

With election season in full swing, both politicians and economists will place extra emphasis on jobs and unemployment figures. Recognizing the relationship between jobs and housing demand, the most tuned-in agents and brokers will do the same. The truth is, the economy is and has been expanding consistently for years, albeit at a disjointed pace. There's reason for optimism going into the last third of 2012 and even into 2013, and housing is actually playing a large role in that positive outlook.

House Supply Overview

As the school-aged among us meander back into classrooms across the country, the rest of us continue to monitor key developments in local real estate. For the 12-month period spanning September 2011 through August 2012, Pending Sales in the Hilton Head region were up 18.0 percent overall. The price range with the largest gain in sales was the $100,001 to $225,000 range, where they increased 27.9 percent.

The overall Median Sales Price was down 3.0 percent to $225,000. The property type with the largest price gain was the Condo segment, where prices increased 8.6 percent to $155,000. The price range that tended to sell the quickest was the $100,000 and Below range at 87 days; the price range that tended to sell the slowest was the $650,001 and Above range at 206 days.

Market-wide, inventory levels were down 20.8 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 18.9 percent. That amounts to 9.0 months supply for SingleFamily homes and 9.7 months supply for Condos.

To see both reports in full, complete with graphs, click on

 

(All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS.)