The S&P/Case-Shiller Home Price Index recently showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. At long last, major national indices are telling the story that local MLS data users have known for months or even years. Yes, the housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up.
According to the Hilton Head MLS, new listings in the Hilton Head region decreased 14.1 percent to 471. Pending Sales were down 1.4 percent to 349. Inventory levels shrank 15.5 percent to 2,602 units. Prices turned higher. The Median Sales Price increased 25.2 percent to $263,000. Days on Market was down 20.0 percent to 121 days. Absorption rates improved as Months Supply of Inventory was down 27.4 percent to 8.7 months. In some Hilton Head Neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That’s causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery.
If you are a serious buyer, then please visit our website www.hiltonheadrealestatepartners.com to search all available properties for sale on Hilton Head. You will also find Bluffton homes for sale there too.