Information provided from the Hilton Head Association of Realtors-

May 2019

At this point in the year, we are getting a good sense for how the housing market is likely to perform for the foreseeable future. And although it is not a particularly exciting forecast, it is a desirable one. Markets across the country are regulating toward a middle ground between buyers and sellers. Pricing is still holding firm in our area at 97% of ask as the interest rates make buying more affordable at this time.

New Listings were up 3.7 percent to 694. Pending Sales increased 9.7 percent to 601. Inventory grew 3.4 percent to 2,363 units.

Prices moved higher as Median Sales Price was up 0.5 percent to $321,500. Days on Market held steady at 136. Months Supply of Inventory was down 1.9 percent to 5.3 months, indicating that demand increased relative to supply.

An extended trend of low unemployment, higher wages and favorable mortgage rates has been a terrific driver of housing stability in recent years and this has extended and propelled growth and prices in the Lowcountry

Other Facts include: percentage of Change from May 2018 to May 2019

New Listings:- Up 3.7%

Pending Sales- Up 9.7%

Closed Sales- up 1.8%

Days on Market- no change 136

Median Sale Price- Up 0.5% to $321,500

Average Sale Price- Up 2.5% to $413,829

% of List Price Received- no change 97%

Inventory of Homes for Sale- Up 3.4%

Months Supply of Inventory- Down 1.9%

To Find detailed reports on your neighborhood or type of property text Jenny Wells at 843-310-2775