Hilton Head Residential Listings Down 11%


New Listings in the Hilton Head region decreased 11.0 percent to 252. Pending Sales were down 7.1 percent to 197. Inventory levels shrank 11.5 percent to 2,304 units. Prices marched higher. The Median Sales Price increased 5.0 percent to $250,000. Days on Market was down 17.4 percent to 95 days. Absorption rates improved as Months Supply of Inventory was down 20.3 percent to 7.3 months.

Housing is fortified by confident consumers and good jobs. The year 2013 was marked by a slowly improving labor market stunted by political gridlock, and the Federal Reserve’s long-awaited taper announcement was not surprising. Interest rates remain low (but upwardly mobile), prices are still affordable, the employment picture looks decent and the stock market is up nearly 30.0 percent from this time last year.

For the12 month period spanning January 2013 through December 2013, Pending Sales in the Hilton Head region were up 11.1 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 35.5 percent.

Source: Foundation Realty 


Be Sociable, Share!
    Categories : Hilton Head Island

    Comments are closed.