Inventory, affordability and mortgage rates. These are going to be the stories of 2015.
Will there be enough inventory? Will rates remain low? Will homes be affordable in the the types and price ranges desired? A nation awaits.
For the 12-month period spanning April 2014 through March 2015, Pending Sales in the Hilton Head region were up 0.6 percent overall.
The price range with the largest gain in sales was the $650,001 and Above range, where they increased 11.1 percent. The overall Median Sales Price was up 1.6 percent to $260,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 0.9 percent to $282,500.
The price range that tended to sell the quickest was the $100,000 and Below range at 80 days; the price range that tended to sell the slowest was the $650,001 and Above range at 172 days.
Market-wide, inventory levels were down 6.3 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 5.9 percent. That amounts to 7.5 months supply for Single-Family homes and 8.6 months supply for Condos.