Grand Strand Market Report November 2012 The sales momentum from the third quarter and October carried into November. For November, Single Family Residential (SFR) sale activity was strong as sales volume was up 12.6% as compared to November, 2011. Year to date (YTD), SFR sales are up 15.6% versus comparable 2011 levels. Coupled with strong sales, SFR inventory continued its seasonal decline and is flat to last year’s inventory level. Distressed SFR listings continued to decline, falling for the seventh straight month. Offsetting strong sales, the median sales price of SFR sales fell to $154,950 for November. For 2012, the median sales price of SFRs is off 3.15% as compared to 2011. Similar to SFR, condo sales activity was very strong. For November, condo sales were up 28.4% as compared to November, 2011. The recent strong months of sales have resulted in condo sales being up 10.5% versus YTD 2011. Condo inventory continued to decline, falling for the eight straight month. The current inventory of condos is down 12.3% versus 2011 levels. Condo sales prices have stabilized and were up slightly in November at $105,500. YTD, condo sales prices are at $104,000, a 3.7% drop since 2011. The affordability of residential lots resulted in 114 lot sales in November. YTD, residential lot sales are up 40% while the median sales price is flat to 2011.
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Contents Active Inventory
2
SFR Inventory Trends
3
Condo Inventory Trends
4
Closed Sales – SFR
5
Avg. Sales Price – SFR
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Median Sales Price – SFR
7
Median Sales Price – SFR (Distressed & Non-Distressed)
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Median Sales Price – SFR (Cash & Conventional Transactions)
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SFR Sales – (% Cash vs. % Conventional)
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Sales to List Price Ratio – SFR
11
Closed Sales – Condo
12
Avg. Sales Price – Condo
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Median Sales Price – Condo
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Median Sales Price–Condo (Distressed & Non-Distressed)
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Median Sales Price – Condo (Cash & Conventional Transactions)
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Condo Sales – (% Cash vs. % Conventional)
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Sales to List Price Ratio – Condo
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Closed Sales – Residential Lot
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Avg. Sales Price – Residential Lot
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Median Sales Price – Residential Lot
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Median Sales Price – Res. Lot (Non-Distressed)
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Sold to List Price Ratio – Residential Lot
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Distressed Inventory
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Distressed Sales
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