Hilton Head Island Area Market Stats (MLS)*
- Closed Sales YTD: 3,305 (+21.6%)
- Pending Sales YTD: 3,502 (+18.7%)
- Median Price - Area wide YTD: -1.0%
- Average Price - Area wide YTD: -2.7%
- Median Price - Hilton Head Island Villas/Condos YTD: +13.8%
- Median Price - Hilton Head Island Detached Homes YTD: -2.6%
- Median Price - Mainland Detached & Villas/Condos YTD: +3.0%
- Housing Inventory: 2,366 Homes for Sale - 8.1 Months Supply (-32.4%, trending down)
*Current as of December 2012. Next update for January to be released mid- to late-February
To see both reports in full, complete with graphs, click on
Monthly Indicators
It was largely a year of recovery for housing across our nation. Markets resolved to shed their excess weight, appeal to both existing homeowners and renters alike, and learn to play nicer with banks. Hey, three for three isn't too bad. But there's more work to be done. Here's how the final month of 2012 finished up.
New Listings in the Hilton Head region decreased 11.6 percent to 258. Pending Sales were down 2.2 percent to 219. Inventory levels shrank 19.8 percent to 2,366 units.
Prices rallied higher. The Median Sales Price increased 3.6 percent to $238,070. Days on Market was down 18.6 percent to 115 days. Absorption rates improved as Months Supply of Inventory was down 32.4 percent to 8.1 months.
Economic growth is on an upward trend and several prominent housing indices continue to showcase market turnaround. Momentum is on our side, though it won't necessarily be fast, consistent or universal. But after five or six challenging years, it's a welcomed change of pace. Plenty of opportunity lies ahead. Here's to a healthy and prosperous year!
House Supply Overview
Most markets are on better footing now than a year ago. We saw many signs of market recovery throughout 2012. Assuming interest rates and job growth cooperate, 2013 should be another positive year for housing. For the 12-month period spanning January 2012 through December 2012, Pending Sales in the Hilton Head region were up 18.7 percent overall. The price range with the largest gain in sales was the $100,001 to $225,000 range, where they increased 27.2 percent.
The overall Median Sales Price was down 1.0 percent to $226,055. The property type with the largest price gain was the Condo segment, where prices increased 13.8 percent to $159,950. The price range that tended to sell the quickest was the $100,000 and Below range at 86 days; the price range that tended to sell the slowest was the $650,001 and Above range at 190 days.
Market-wide, inventory levels were down 19.8 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 19.0 percent. That amounts to 7.8 months supply for Single-Family homes and 8.7 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.)