Hilton Head Island Area Market Stats (MLS)*

  • Closed Sales YTD: 218 (-0.9%)
  • Pending Sales YTD: 297 (+23.8%)
  • Median Price - Area wide YTD: +2.8%
  • Average Price - Area wide YTD: -1.7%
  • Median Price - Hilton Head Island Villas/Condos YTD: +45.9%
  • Median Price - Hilton Head Island Detached Homes YTD: -5.5%
  • Median Price - Mainland Detached & Villas/Condos YTD: +12.2%
  • Housing Inventory: 2,388 Homes for Sale - 8.1 Months Supply (-32.9%, trending down)

      *Current as of January 2013. Next update for February to be released mid- to late-March

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

 

Monthly Indicators

The idea of doing data analysis is about as exciting to some as renewing a driver's license. Sometimes watching monthly figures can feel like watching grass grow. Try to ignore the confusion of high school statistics class – those regressions and cotangents can't hurt you anymore. The number crunching is done for you, so let the trend be your friend. And for the first time since 2006, the numbers are largely positive. Let s look at the cheat sheet.

New Listings in the Hilton Head region decreased 10.9 percent to 440. Pending Sales were up 23.8 percent to 297. Inventory levels shrank 19.5 percent to 2,388 units.

Prices rallied higher. The Median Sales Price increased 2.8 percent to $245,500. Days on Market was down 5.5 percent to 127 days. Absorption rates improved as Months Supply of Inventory was down 32.9 percent to 8.1 months.

It's important to watch the economy, since job growth directly fuels home purchases and since the housing industry generates jobs. The economy has added about 6.1 million jobs over the past 35 months, a sluggish but encouraging trend. Interest rates are slowly moving higher in some regions, though the affordability picture remains extremely attractive.

House Supply Overview

The first month of 2013 looks very similar to 2012, as most metrics continue to indicate market recovery. For the 12-month period spanning February 2012 through January 2013, Pending Sales in the Hilton Head region were up 19.9 percent overall. The price range with the largest gain in sales was the $100,001 to $225,000 range, where they increased 29.1 percent.

The overall Median Sales Price was down 1.3 percent to $227,082. The property type with the largest price gain was the Condo segment, where prices increased 16.5 percent to $162,000. The price range that tended to sell the quickest was the $100,000 and Below range at 88 days; the price range that tended to sell the slowest was the $650,001 and Above range at 187 days.

Market-wide, inventory levels were down 19.5 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 17.7 percent. That amounts to 7.8 months supply for SingleFamily homes and 8.8 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.)