Today I am looking at the 2017 stats for the Hanahan real estate market. Let’s see how homes for sale in Hanahan SC stack up to the rest of the Charleston SC market.

Homes For Sale In Hanahan SC: Buying Stats

First up is a look at Closed Sales:

January kicked off the New Year with 15 Closed Sales. February saw that number increase to 26, then it dipped to 25 in March.

April saw the number of Closed Sales drop to 9, then they increased in May (22) and June (36).

Here is a comparison between 2017 and 2016:

April of 2016 was the peak month, with 43 Hanahan SC homes for sale closed.

That is the most in one month since November of 2007, which saw 48 Closed Sales.

The most ever happened in September of 2006, with 84.

Average Sales Price

Next up is a look at the Average Sales Price of homes for sale Hanahan SC:

January saw the Average Sales Price for Hanahan SC homes for sale at $178,227. In February it jumped up to $218,923. March saw another increase to $249,791, then in April it dropped to $239,544.

May saw another decline in the Average Sales Price to $236,514 before June rebounded at $249,872.

Here is a comparison of 2017 and 2016:

The highest Average Sales Price in 2016 was in October, at $253,992. That is the highest Average Sales Price since June of 2015, which was $260,782.

That was also the highest month since the all time high in August of 2007, which saw the Average Sales Price at $330,400.

Here is a look at the year-over-year percentage change in the Average Sales Price for 2017:

Pending Sales

Next is a look at Pending Sales:

January saw 30 homes for sale in Hanahan SC go under contract. That dropped in February to 17, then increased in March to 21.

April saw another increase to 25, and again in April to 30. It dropped slightly in June to 29.

Here is a comparison of 2017 and 2016:

March was the peak month of 2016, with 41 Pending Sales.

That was the highest number of Pending Sales for Hanahan SC real estate since July of 2015 with 45. That is also the all time high.

Homes For Sale Hanahan SC: Selling Stats

First up is the look at the Average Days On The Market (DOM) for Hanahan SC real estate:

January saw homes for sale in Hanahan SC spend 95 days on the market. That dropped to 59 days in February, then increased to 79 days in March.

April saw the Average DOM drop sharply to 16 days, then again in May to 9. June saw the Average DOM back up to 40 days.

Here is a comparison of 2017 and 2016:

January was the highest Average DOM since April of 2014 which saw the Average DOM at 101 days. The highest of all time was in May of 2007, at 187 days.

But April (16 days) and May (9 days) were the lowest months since May of 2005 at 20 DOM.

May is also the lowest DOM for homes for sale in Hanahan all time.

Months Supply Of Inventory

Next up is a look at the Months Supply of Inventory for homes for sale in Hanahan SC:

January saw the Months Supply at 1.4 months. In February it was up to 2 months.

Then March through May saw the Months Supply of homes for sale in Hanahan SC at 2.6 months.

June dipped to 2.4 months.

Here is a look at 2017 vs. 2016:

January of this year was the lowest Months Supply of Inventory of all time.

It was the lowest since January and February of 2005, each with a 1.7 Months Supply

Homes For Sale In Hanahan SC: Current Stats

Finally, let’s see the number of available homes in Hanahan for 2017:

January saw 38 homes for sale in Hanahan SC. In February that increased to 51, and again in March to 63 homes.

April also saw 63 homes for sale, and May dipped slightly to 62. June also saw a slight decrease, to 58.

Here is a look at 2017 compared to 2016:

January was the fewest amount of homes for sale in Hanahan SC ever.

The most happened in September of 2007 with 251 homes for sale. Right now there are currently 56 homes for sale in Hanahan SC.

New Listings

Finally, a look at New Listings to hit the Hanahan SC real estate market in 2017:

January saw 22 New Listings hit the market, and that increased to 32 in February.

March added 36 more, but then New Listings declined in April to 30.

May saw 35 New Listings added to the Hanahan SC real estate market, and 31 more came on in June.

Here is a comparison of 2016 and 2017:

The peak month of last year for new listings was August, which saw 43 New Listings.

That was the most since May of 2015 which saw 54 New Listings.

The most ever? That happened in July of 2005, with 111 New Listings.

Homes For Sale In Hanahan SC: State Of The Market

Nationwide the real estate market is pretty hot. There is a strong buyer demand and not enough listings to meet that demand. In turn, prices are being driven up at a fast pace.

Hanahan is seeing similar trends. Although prices dropped from October of last year through January of this year, home values in Hanahan are trending upwards.

The Months Supply numbers indicate that the Hanahan SC real estate market is a seller’s market. Months Supply of Inventory can’t even reach 3 months, and a 6 month inventory is considered a normal, neutral market.

In fact, the last time the Hanahan SC real estate market saw a 6 month inventory was in October of 2012, with a 6.2 Month Supply.

Obviously there are not enough homes on the market, as evidenced by the low DOM numbers, with April and May the lowest recorded for Hanahan.

In March the Median Price for homes in Hanahan hit $265,000, which was second only to January 2014 at $279,000.

To keep up with the latest news, stats, and trends in real estate, both locally and nationally, check out this blog and this blog.

You can also download free real estate guides whether you are buying or selling.

If you are interested in buying or selling homes for sale in Hanahan SC, then be sure to visit my Pam Marshall Realtor website.