October 2010 The inventory of single-family homes has declined by 7.6 percent from a year ago to 2,340 while the number of available condominiums has declined by 7.5 percent to 1,090 units during period. That amounts to 15.3 months of p , g the same p supply for single-family homes and 16.0 months of supply for condominiums, marking big improvements for both property types compared to last year. Sales of single-family homes have increased by 10.8 percent over the last twelve months, led by activity among 4 or more bedroom homes. Condominium sales have jumped up 45.8 percent which represents 259 more sales this year than last year for this time period. The range with the strongest year-over-year change in sales was the $100,000 and Below bracket, where sales have skyrocketed over last year by 178.9 percent. This is due in part to a smaller market in terms of units sold, from 175 to 488 sales for this category. The $100,000 and Below price range also led in terms of shortest Average Days on Market Until Sale, at 72 days. The price range with the longest mark was the $650,001 and Above range at 211 days. Overall, the region has seen its market times decline, down by just 7.2 percent versus last year.
Number of Bedrooms Analysis Inventory Months Supply Home Sales Percent of List Price Received Median Sales Price Days on Market Until Sale
2 2 3 3 4 4
Price Range Analysis Inventory Months Supply Home Sales Percent of List Price Received Days on Market Until Sale
5 6 7 8 9
All data provided by Multiple Listing Service of Hilton Head Island Š2010 HHIMLS - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORSŽ
1
Housing Supply Outlook October 2010 Inventory of Homes and Condominiums 10-2009
10-2010
Change
3,711 2,532 1,179 1,176
3,430 2,340 1,090 1,064
-7.6% -7.6% -7.5% -9.5%
Single-Family Condo
282 894
294 770
+4.3% -13.9%
All Single-Family Condo 2 Bedrooms and Under
3 Bedrooms
1,390
1,336
-3.9%
Single-Family Condo
1,128 262
1,041 295
-7.7% +12.6%
4 Bedrooms or More
1,145
1,030
-10.0%
Single-Family Condo
1,122 23
1,005 25
-10.4% +8.7%
3,711
October 2009
3,430
1,176
1,390
1,336
1,064
10-2010
Change
All Single-Family Condo 2 Bedrooms and Under
20.7 18.7 26.9 21.0
15.5 15.3 16.0 13.2
-25.3% -18.5% -40.5% -37.4%
Single-Family Condo
13.1 26.0
11.6 13.9
-11.8% -46.5%
3 Bedrooms
17.8
15.5
-13.0%
Single-Family Condo
16.2 29.9
14.0 24.2
-13.6% -19.0%
4 Bedrooms or More
25.5
19.0
-25.4%
Single-Family Condo
25.4 14.4
18.8 21.4
-26.0% +49.1%
1,030
-7.6%
-9.5%
-3.9%
-10.0%
All
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
Months Supply of Inventory 10-2009
1,145
October 2010
October 2009
October 2010
25.5 21.0
20.7
19.0
17.8 15.5
15.5 13.2
-25.3%
-37.4%
-13.0%
-25.4%
All
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
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Housing Supply Outlook October 2010 Pending Home Sales Last Twelve Months 11-2008 through 10-2009
11-2009 through 10-2010
Change
2,225 1,659 566 707
2,663 1,838 825 970
+19.7% +10.8% +45.8% +37.2%
Single-Family Condo
267 440
305 665
+14.2% +51.1%
All Single-Family Condo 2 Bedrooms and Under
3 Bedrooms
948
1,036
+9.3%
Single-Family Condo
840 108
890 146
+6.0% +35.2%
4 Bedrooms or More
570
657
+15.3%
Single-Family Condo
552 18
643 14
+16.5% -22.2%
2,663
November 2008 through October 2009
November 2009 through October 2010
2,225
970
948
1,036
707
+19.7% All
570
657
+37.2%
+9.3%
+15.3%
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
Percent Of List Price Received Last Twelve Months November 2008 through October 2009
11-2008 through 10-2009
11-2009 through 10-2010
Change
All Single-Family Condo 2 Bedrooms and Under
93.3% 91.3% 94.0% 92.0%
93.8% 93.5% 94.0% 93.7%
+0.6% +2.4% +0.0% +1.9%
Single-Family Condo
93.3% 91.1%
93.9% 93.6%
+0.6% +2.8%
3 Bedrooms
94.4%
94.1%
-0.3%
Single-Family Condo
94.6% 92.2%
94.4% 92.5%
-0.3% +0.3%
4 Bedrooms or More
93.2%
93.4%
+0.3%
Single-Family Condo
93.2% 90.9%
93.5% 89.0%
+0.3% -2.1%
93.8%
93.3%
+0.6% All
92.0%
93.7%
94.4%
+1.9% 2 Bedrooms and Under
94.1%
November 2009 through October 2010
93.2%
93.4%
-0.3%
+0.3%
3 Bedrooms
4 Bedrooms or More
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
3
Housing Supply Outlook October 2010 Median Sales Price Last Twelve Months 11-2008 through 10-2009
11-2009 through 10-2010
Change
All Single-Family Condo 2 Bedrooms and Under
$266,500 $280,000 $225,000 $188,875
$240,000 $275,145 $156,000 $160,000
-9.9% -1.7% -30.7% -15.3%
Single-Family Condo
$183,000 $194,900
$180,000 $125,000
-1.6% -35.9%
3 Bedrooms
$285,000 $275,290
-3.4%
Single-Family Condo
$280,000 $325,000
$263,590 $327,500
-5.9% +0.8%
4 Bedrooms or More
$475,000 $506,750
+6.7%
Single-Family Condo
$473,500 $575,000
+5.8% +24.3%
$501,000 $715,000
November 2008 through October 2009
November 2009 through October 2010
$475,000
$266,500
$506,750
$285,000 $275,290 $240,000 $188,875
$160,000
-9.9%
-15.3%
-3.4%
+6.7%
All
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
Days on Market Until Sale Last Twelve Months 11-2008 through 10-2009
11-2009 through 10-2010
November 2008 through October 2009
November 2009 through October 2010
Change
All Single-Family Condo 2 Bedrooms and Under
153 146 174 162
142 144 139 131
-7.2% -1.9% -19.9% -19.1%
Single-Family Condo
133 180
130 131
-2.7% -26.8%
3 Bedrooms
141
137
-3.3%
Single-Family Condo
139 159
129 177
-7.0% +11.3%
4 Bedrooms or More
165
170
+3.1%
Single-Family Condo
165 151
171 104
+3.4% -31.5%
165
162
153
142 131
141
170
137
-7.2%
-19.1%
-3.3%
+3.1%
All
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
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Housing Supply Outlook October 2010 Inventory of Homes and Condominiums for Sale All Price Range
10-2009
10-2010
Single-Family Change
10-2009
Condo
10-2010
Change
10-2009
10-2010
Change
$100,000 and Below
252
249
-1.2%
68
91
+33.8%
184
158
-14.1%
$100,001 to $225,000
852
763
-10.4%
544
531
-2.4%
308
232
-24.7%
$225,001 to $375,000
727
748
+2.9%
440
448
+1.8%
287
300
+4.5%
$375,001 to $650,000
896
784
-12.5%
604
500
-17.2%
292
284
-2.7%
$650,001 and Above
994
900
-9.5%
879
771
-12.3%
115
129
+12.2%
3,721
3,444
-7.4%
2,535
2,341
-7.7%
1,186
1,103
-7.0%
All Price Ranges
October 2009
994
October 2010
763
252
900
896
852 727
748
784
249
-1.2% $100,000 and Below
-10.4% $100,001 to $225,000
+2.9% $225,001 to $375,000
-12.5%
-9.5%
$375,001 to $650,000
$650,001 and Above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
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Housing Supply Outlook October 2010 Months Supply of Inventory All Price Range
Single-Family
Condo
10-2009
10-2010
Change
10-2009
10-2010
Change
10-2009
10-2010
$100,000 and Below
19.3
6.1
-68.2%
13.2
6.8
-48.5%
23.2
5.8
Change -75.1%
$100,001 to $225,000
15.1
12.2
-19.4%
12.7
11.2
-11.8%
22.8
15.3
-33.0%
$225,001 to $375,000
15.6
15.5
-0.1%
12.7
12.9
+1.1%
23.6
22.5
-4.6% -17.6%
$375,001 to $650,000
24.4
18.6
-24.1%
21.3
15.4
-27.6%
35.0
28.9
$650,001 and Above
37.6
31.7
-15.8%
36.4
30.8
-15.2%
38.3
37.8
-1.5%
All Price Ranges
20.7
15.5
-25.3%
18.7
15.3
-18.5%
26.9
16.0
-40.5%
37.6 October 2009
October 2010
31.7
24.4 19.3
18.6 15.6
15.1
15.5
12.2
6.1
-68.2%
-19.4%
-0.1%
-24.1%
-15.8%
$100,000 and Below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
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Housing Supply Outlook October 2010 Pending Home Sales Last Twelve Months All November 2008 November 2009 through October through October 2009 2010
Price Range
Single-Family November 2008 November 2009 through October through October 2009 2010
Change
Condo November 2008 November 2009 through October through October 2009 2010
Change
Change
$100,000 and Below
175
488
+178.9%
67
161
+140.3%
108
327
$100,001 to $225,000
700
753
+7.6%
531
571
+7.5%
169
182
+7.7%
$225,001 to $375,000
566
578
+2.1%
414
418
+1.0%
152
160
+5.3%
+202.8%
$375,001 to $650,000
454
507
+11.7%
352
389
+10.5%
102
118
+15.7%
$650,001 and Above
337
341
+1.1%
296
300
+1.4%
41
41
-0.8%
2,232
2,667
+19.5%
1,660
1,839
+10.8%
572
828
+44.7%
All Price Ranges
753 November 2008 through October 2009
700
566
November 2009 through October 2010
578 507
488
454
337
341
175
+178.9% $100,000 and Below
+7.6% $100,001 to $225,000
+2.1%
+11.7%
+1.1%
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
7
Housing Supply Outlook October 2010 Percent of List Price Received Last Twelve Months All November 2008 November 2009 through October through October 2009 2010
Price Range
Single-Family
Condo
November 2008 November 2009 through October through October 2009 2010
Change
Change
November 2008 November 2009 through October through October 2009 2010
Change
$100,000 and Below
92.3%
95.1%
+3.0%
95.2%
93.7%
-1.5%
90.5%
95.7%
+5.8%
$100,001 to $225,000
94.7%
95.0%
+0.2%
96.0%
95.8%
-0.2%
90.8%
92.2%
+1.6%
$225,001 to $375,000
93.8%
93.7%
-0.1%
94.5%
94.4%
-0.2%
91.9%
92.2%
+0.3%
$375,001 to $650,000
93.3%
93.2%
-0.1%
93.6%
93.5%
-0.1%
92.1%
92.0%
-0.1%
$650,001 and Above
89.7%
91.1%
+1.6%
89.7%
91.0%
+1.5%
90.6%
92.4%
+2.1%
All Price Ranges
93.3%
93.8%
+0.6%
91.3%
93.5%
+2.4%
94.0%
94.0%
+0.0%
November 2008 through October 2009
95.1% 95 1%
94.7%
November 2009 through October 2010
95.0% 93.8%
93.7%
93.3%
93.2%
92.3% 91.1% 89.7%
+3.0%
+0.2%
-0.1%
-0.1%
+1.6%
$100,000 and Below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
8
Housing Supply Outlook October 2010 Days on Market Until Sale Last Twelve Months All November 2008 November 2009 through October through October 2009 2010
Price Range
Single-Family Change
November 2008 November 2009 through October through October 2009 2010
Condo November 2008 November 2009 through October through October 2009 2010
Change
Change
$100,000 and Below
97
72
-25.5%
83
82
-1.4%
106
68
$100,001 to $225,000
130
124
-4.6%
122
115
-5.2%
156
152
-2.6%
$225,001 to $375,000
157
135
-13.8%
141
122
-13.3%
203
167
-17.6%
-35.9%
$375,001 to $650,000
172
186
+8.2%
157
171
+8.9%
222
237
+6.9%
$650,001 and Above
198
211
+6.8%
201
213
+6.4%
172
195
+12.9%
All Price Ranges
153
142
-7.2%
146
144
-1.9%
174
139
-19.9%
November 2008 through October 2009
November 2009 through October 2010
211 186
198
172 157 130
124
135
97 72
-25.5%
-4.6%
-13.8%
+8.2%
+6.8%
$100,000 and Below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
9