Grand Strand Market Report September 2013 Single Family Residential sales end Quarter 3 strong; and are up 14.6% from September 2012 Single Family Residential (SFR) sales maintained its double digit year over year sales growth as SFR sales grew 14.6% as compared to September 2012. Year-to-date (YTD), SFR sales are up 21.1% from 2012 levels. In addition to strong SFR sales, the median sales price of SFRs was $180,000, which is in line with full year performance. YTD, the median sales price is up 5.9% for the year. Following improved sales prices, SFR sold to list ratio now a 93% which is in line with 2007 levels. During September, the inventory of homes for sale was up slightly from August and levels are still up 3.6% from prior year levels. The inventory of distressed homes for sale declined 6% from August and is now 38.5% below its prior year level. For condos, the inventory has leveled off over the last four months and the current inventory is down 5.1% from September 2012; distressed inventory is down 45.5% over the last year. During September, condo sales were up 6.8% to prior year levels and year to date condo sales are up 7.3% from 2012. The median sales price for condos is up 13.7% from last year. YTD, the median sales price of condos are up 5.7% and the sold to list ratio is now at 95%. Residential lot sales performance is in line with 2012 performance while the median sales price is up 33.3%. The improvement in sales prices is driven by a smaller percentage of distressed sales and stronger pricing on non-distressed sales.
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Contents Active Inventory
2
SFR Inventory Trends
3
Condo Inventory Trends
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Closed Sales – SFR
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Avg. Sales Price – SFR
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Median Sales Price – SFR
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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
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Closed Sales – Condo
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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
23
Distressed Inventory
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Distressed Sales
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