Low housing supply is both a month-over-month and now multiple year over-year happening. For the 12-month period spanning October 2016 through September 2017, Pending Sales in the Hilton Head region were up 4.5 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 8.9 percent.
The overall Median Sales Price was up 2.1 percent to $296,000. The property type with the largest price gain was the Condos / Villas segment, where prices increased 3.6 percent to $213,000. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 120 days; the price range that tended to sell the slowest was the $650,001 and Above range at 205 days.
Market-wide, inventory levels were down 12.9 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 9.0 percent. That amounts to 6.0 months supply for Single-Family homes and 4.9 months supply for Condos.
If you think Hilton Head or Bluffton might be the right town for you, let us help. With Realtor specialists in every community, we are here to serve you. We are a recent winner of Company of the Year from our Realtor association and have veteran leadership and support to help from start to finish. Future expansion plans begin soon so stay posted on our next newsletter.
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