December 2010 With the year now wrapped up, it’s time to look back on 2010 and survey the landscape. The Median Sales Price of single-family homes in the region decreased by percent during $272,450. Condo prices y 4.4 p g the yyear to arrive at $ , p dropped more aggressively during the year, by 29.3 percent, to $152,000. This was due to the surge of sales among the $100,000 and below price range for both property types. Larger condos, priced over $375,000, actually saw healthy increases in sales, but because the majority of sales took place in the lower bracket, it pulled prices down overall. Sales for both property types did increase compared to the previous twelve months. Single-family sales were up by 6.1 percent, which represented 106 additional sales, and condos were up by 37.7 percent, representing 231 additional sales. At the end of 2010, inventory of single-family homes was at 2,056 properties, a decrease of 11.2 percent from last year, while there were 11.0 percent fewer condo units than last year, with 952 available for sale. Months Supply of Inventory was down in all segments – which was very welcome news – except for condos with 4 bedrooms or more, which increased by 42.9 percent to 20.0 months. Single-family homes with 2 bedrooms or less had the smallest supply at 10.0 months, a decrease of 14.0 percent from 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 ©2010 HHIMLS - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS®
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