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Hilton Head Market Summary & Hilton Head Housing Supply May 2016

Hilton Head Market Sumary:

We are in the thick of an exciting period of home buying and selling, often with quick multiple offers that are near, at or even above asking price, depending on the factors of the home and submarket in question. It was widely predicted that we would see healthy sales activity during the second quarter of 2016, and the market has not disappointed. New Listings were up 15.4 percent to 599. Pending Sales increased 29.2 percent to 487. Inventory shrank 1.7 percent to 2,443 units.

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Hilton Head Housing Supply:

Sellers are getting more of their asking price, meaning higher sales prices in most categories. The overall inventory crunch is still in play, but higher- priced homes seem to be faring better with inventory in year-over-year comparisons.

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