Your monthly Low­coun­try mar­ket re­port

The Beaufort Gazette (Sunday) - - Real Estate & Homes - BY JEAN BECK jean@hhre­al­ Jean Beck is ex­ec­u­tive vice pres­i­dent of the Hil­ton Head Area As­so­ci­a­tion of Real­tors.

Is there re­ally a slow down for real es­tate? Some eco­nomic ob­servers point to 2018 as the fi­nal year in a long string of happy years of buyer de­mand and sales ex­cite­ment sur­round­ing the hous­ing in­dus­try.

This makes me won­der what it could mean for our lo­cal mar­ket. We have seen a slow down in sales this fall, but we also had two weather dis­tur­bances that lead to vis­i­tors can­cel­ing trips and busi­ness dis­rup­tion. One Real­tor told me she had three prospects can­cel their trip in Septem­ber and they have not resched­uled.

The Septem­ber mar­ket re­ports show closed sales are up 13 per­cent com­pared to last year. The price range with the largest sales gain was the $650,000 and above range, which in­creased 29.1 per­cent. How­ever, in­ven­tory sup­ply re­mains low across the mar­ket — 5.1 months.

Pend­ing sales are up by 13.1 per­cent year-to-date, which is a pos­i­tive in­di­ca­tor for our re­gion. It’s a sign that maybe our mar­ket is not feel­ing the slow­down that other ar­eas in the coun­try are ex­pe­ri­enc­ing.

We live in a de­sir­able lo­ca­tion. Per­haps as the weather turns colder up north and the hol­i­days come to an end we will see prospec­tive buy­ers re­turn to their plans to be­come home­own­ers in the Low­coun­try.

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