Attached you will find the latest market news for the Lowcountry and the surrounding areas. The information is calculated and provided to us by the Hilton Head Area Association of Realtors and Hilton Head Multiple Listing Service on a monthly basis. This report is computed through the month of November 2012.
The market in the Hilton Head and surrounding areas seems to be making a slow recovery. Communities are seeing inventories decrease and experiencing less distress sales which contributed to a median sales price increase of 1.3%. New listings have decreased by 10.8% which is also helping prices increase bit by bit. Pending sales are up 20.5% and closed sales have increased by 24.1% year to date. Another positive is the days on the market have decreased giving us an average of 122 days.
Although we have not seen a full recovery, it is nice to see those steady increases. We are looking forward to a very productive 2013 for the Hilton Head Area.