Monthly Indicators A RESEARCH TOOL PROVIDED BY THE COASTAL CAROLINAS ASSOCIATION OF REALTORS®
May 2012
Quick Facts
Spring has brought both change and clarity to our local market. Some sellers are seeing competing bids on their properties which have lead to modest price gains. Buyers have fewer options from which to choose in many submarkets. Headlines and sound bites can often mask regional variability. With fewer distressed properties selling, prices are effectively “melting up” due to less downward pressure. May looked pretty good all around. New Listings in the Coastal Carolinas region were up 14.9 percent for detached homes and 6.9 percent for condos. Pending Sales increased 42.1 percent for singlefamily homes and 31.5 percent for condos. The Median Sales Price was up 0.6 percent to $161,000 for single-family properties but decreased 3.6 percent to $106,000 for condo units. Months Supply of Inventory decreased 26.6 percent for single-family units and 18.5 percent for townhousecondo units. In economic news, May's jobs report was disappointing, and there's a growing concern about the pace of domestic growth. Last month was also unsettling for investors, prompting some to hunt for better returns in the housing market. This forces other consumers up the price ladder. In politics, the Senate approved a 60day National Flood Insurance Program extension. But with campaign season upon us, major housing-related bills or policy shifts are unlikely.
+ 11.2%
+ 12.5%
+ 9.9%
Change in Closed Sales All Properties
Change in Closed Sales Single-Family Only
Change in Closed Sales Condo Only
Single-Family Market Overview Condo Market Overview New Listings Pending Sales Closed Sales Days On Market Until Sale Median Sales Price Average Sales Price Percent of List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory
2 3 4 5 6 7 8 9 10 11 12 13
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All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | 1