Hilton Head and Bluffton Market Reports

July 2017 Market Reports


How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller's market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase.

New Listings were down 5.8 percent to 503. Pending Sales increased 24.4 percent to 444. Inventory shrank 12.0 percent to 2,218 units.

Prices moved higher as Median Sales Price was up 1.9 percent to $290,000. Days on Market increased 9.2 percent to 154 days. Months Supply of Inventory was down 19.4 percent to 5.8 months, indicating that demand increased relative to supply.

Although the unemployment rate remains unchanged at its favorable national 4.3 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.


Read More... Select a report below:

Hilton Head Homes
Hilton Head Condos/Villas
Monthly Market Indicator
Monthly Supply Outlook
Mainland Report

Have questions about the current real estate market conditions in the Lowcountry? Looking for more information on buying or selling a home in the Hilton Head, Bluffton, or surrounding areas? We're here to help. Contact us today!


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