February 2010 Update and Market Trends
Dear Property Owners, Friends and Clients~
Linked below, is the entire Island Review. We will be sending these to you every other month and will be sending the market study for your specific neighborhood the other months. It is useful to look at the big picture in planning your future moves. Not only do we use this report to negotiate for our buyers, it also allows us to advise our sellers. This report applies to only our Hilton Head Island Real Estate Market and does not include off Island or Daufuskie.
This report is a snapshot and shows recent activity for homes, villas and home sites. The report is broken down into specific price segments as some areas of the market move, while others may not. Some of the key points to note:
- Actives ~ This is the total inventory available in the price range. We believe this number will stay steady in the months ahead as sellers move back in to the market as the economy improves. This is called the Shadow Inventory.
- Pendings ~ This is the actual number of properties we sold in the month. (If you are a buyer the lower the better, if you are a seller the higher the better)
- Selling % ~ Pay attention to this number in the months ahead as we believe the market will firm up and we will see less negotiation ahead.
- DOM ~ The days on the market has been dropping as we experience more activity. Although we are seasonal, this number should drop further in the months ahead.
- Remaining Months of Inventory ~ This is a very important number to follow. It is based on pendings and active listings. If we see our inventories drop(active), this number should fall(as long as sales stay steady). If we see sales increase, this number should also fall. It moves up when the opposite scenarios occurs. Bottom line, if the selling % is high, the dom and remaining months of inventory are low, all this is good if you are a seller and the reverse is true if you are a buyer.
I invite you to email or call us to provide a summary of this report and how it effects your property. As always, we appreciate the refferals and encourage you to forward this to friends. It is our continued goal to provide exceptional service, create raving fans and help our clients and friends succeed! E-mail us today or call us any time at 800-932-3652. Have a great holiday ahead and we look forward to hearing from you.
All the best~
& Jane Hyers
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