Hilton Head area Midyear Market Update

New Listings were up 3.3 percent to 473.
Pending Sales increased 46.0 percent to 492.
Inventory shrank 12.4 percent to 2,316 units.
Prices moved higher as Median Sales Price was up 2.4 percent to $289,950.
Days on Market increased 1.9 percent to 109 days.
Months Supply of Inventory was down 17.4 percent to 7.1 months, indicating that demand increased relative to supply.
Having six months of 2015 data in the books is great, but it is still just intermission at
this halfway point of the year. Forecasting market trends can be as dicey as the
weather, but with interest rates managing to remain low into the summer months,
the outlook is promising, even if rates go up later in the year. Metrics like inventory
and percent of list price received at sale are two of the better understudies to watch
this year.