Apr 15, 2016
Inventory is the primary need as we work our way into 2016. The total months of supply in many housing categories and price ranges is too low to sustain a balanced market. For the 12-month period spanning March 2015 through February 2016, Pending Sales in the Hilton Head region were at 4,573 units for all properties. Single-Family homes had 3,433 pending sales, while Condos had 130 during the last 12 months.
The Median Sales Price for Single-Family homes was at $310,000, while Condos landed at $202,500. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 79 days; the price range that tended to sell the slowest was the $650,001 and Above range at 193 days.
Market-wide, inventory ended at 2,317 for the month. Inventory for Single-Family Homes was at 1,682, while Condos had 635 units for sale. That amounts to 5.9 months supply for Single-Family homes and 6.7 months supply for Condos.
If you want to make a little piece of The Island your own, you need more than just a road map and a REALTOR. You need a partner who can make things happen.
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