Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
April 2011
Quick Facts
Due to the 2010 tax credit, current market activity can look drastically different than it did one year ago. For the 12-month period spanning May 2010 through April 2011, Pending Sales in the Hilton Head region were up 9.4 percent from the same period a year prior. The largest gain occurred in the $100,000 and Below range, where they increased 83.2 percent to 568 units. One might expect properties to take longer to sell without an incentive in place. The segment with the largest increase in market times was the $100,000 and Below range, where they increased 15.6 percent to 101 days. The segment that tended to sell the quickest was the $100,000 and Below range at 101 days; the segment that tended to sell the slowest was the $650,001 and Above range at 211 days. The overall Median Sales price was down 9.5 percent. Single-Family properties saw the smallest price drop, where the Median Sales Price decreased 4.4 percent to $270,000. Meanwhile, Single-Family inventory levels have decreased 17.8 percent, and Condo inventory levels have decreased 15.1 percent.
+ 83.2%
+ 13.9%
+ 23.1%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$100,000 and Below
2 Bedrooms or Less
Condos
Pending Sales Days on Market Until Sale Median Sales Price Percent of List Price Received Inventory of Homes for Sale Months Supply of Inventory
2 3 4 5 6 7
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All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | 1
Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total.
By Price Range 4-2010
By Property Type
By Bedroom Count
4-2011
4-2010
782
767
985 591
568
4-2010
4-2011 1,054
1,113 1,859
865
641 510
4-2011
517
641
1,936
698
375 316
310
873 709
+ 83.2%
- 1.9%
+ 8.5%
+ 1.4%
- 15.7%
+ 13.9%
+ 5.6%
+ 8.9%
+ 4.1%
+ 23.1%
$100,000 and Below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
Single-Family Homes
Condos
All Properties By Price Range
Single-Family Homes
4-2010
4-2011
Change
$100,000 and Below
310
568
$100,001 to $225,000
782
767
$225,001 to $375,000
591
$375,001 to $650,000
510
$650,001 and Above All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
Condos
4-2010
4-2011
Change
4-2010
4-2011
Change
+ 83.2%
96
208
+ 116.7%
214
360
+ 68.2%
- 1.9%
611
572
- 6.4%
171
195
+ 14.0%
641
+ 8.5%
417
473
+ 13.4%
174
168
- 3.4%
517
+ 1.4%
399
404
+ 1.3%
111
113
+ 1.8%
375
316
- 15.7%
336
279
- 17.0%
39
37
- 5.1%
2,568
2,809
+ 9.4%
1,859
1,936
+ 4.1%
709
873
+ 23.1%
4-2010
4-2011
Change
4-2010
4-2011
Change
4-2010
4-2011
Change
865
985
+ 13.9%
307
304
- 1.0%
558
681
+ 22.0%
1,054
1,113
+ 5.6%
919
939
+ 2.2%
135
174
+ 28.9%
4 Bedrooms or More
641
698
+ 8.9%
632
692
+ 9.5%
9
6
- 33.3%
All Bedroom Counts
2,568
2,809
+ 9.4%
1,859
1,936
+ 4.1%
709
873
+ 23.1%
All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 2
Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted. Based on a rolling 12-month average.
By Price Range 4-2010
4-2010
207 178 159 136 87
By Property Type
By Bedroom Count
4-2011
4-2010
4-2011
155
180
211
165 151
185
4-2011
134
138
151
144
148
148
126
101 144
+ 15.6%
- 7.3%
- 6.7%
+ 4.1%
+ 1.8%
- 11.5%
+ 4.0%
- 7.9%
- 4.9%
- 4.2%
$100,000 and Below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
Single-Family Homes
Condos
All Properties By Price Range
Single-Family Homes
4-2010
4-2011
Change
$100,000 and Below
87
101
+ 15.6%
$100,001 to $225,000
136
126
- 7.3%
$225,001 to $375,000
159
148
- 6.7%
146
$375,001 to $650,000
178
185
+ 4.1%
169
$650,001 and Above
207
211
+ 1.8%
All Price Ranges
152
145
By Bedroom Count
4-2010
4-2011
Change
82
96
127
123
Condos 4-2010
4-2011
Change
+ 17.0%
90
104
+ 15.2%
- 2.9%
165
135
- 18.0%
132
- 9.7%
190
196
+ 3.4%
171
+ 0.9%
215
243
+ 13.2%
214
212
- 0.9%
136
197
+ 44.1%
- 4.7%
151
144
- 4.9%
155
148
- 4.2%
4-2010
4-2011
Change
4-2010
4-2011
Change
4-2010
4-2011
Change
2 Bedrooms or Less
151
134
- 11.5%
138
120
- 13.6%
158
140
- 11.4%
3 Bedrooms
138
144
+ 4.0%
137
137
- 0.1%
146
182
+ 24.4%
4 Bedrooms or More
180
165
- 7.9%
180
165
- 8.2%
178
238
+ 33.7%
All Bedroom Counts
152
145
- 4.7%
151
144
- 4.9%
155
148
- 4.2%
All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 3
Median Sales Price Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median.
By Bedroom Count 4-2010
By Property Type 4-2010
4-2011
4-2011 $282,500
$525,000
$258,500 $475,000
$270,000
$233,832 $191,165
$285,000 $170,000
$148,500
$265,000
$152,000
- 10.6%
- 7.0%
2 Bedrooms or Less
3 Bedrooms
- 9.5%
- 9.5%
4 Bedrooms or More
All Properties By Bedroom Count
- 4.4%
All Properties
Single-Family Homes
Single-Family Homes
- 22.3% Condos
Condos
4-2010
4-2011
Change
4-2010
4-2011
Change
4-2010
4-2011
Change
2 Bedrooms or Less
$170,000
$152,000
- 10.6%
$180,000
$179,900
- 0.1%
$152,750
$119,000
- 22.1%
3 Bedrooms
$285,000
$265,000
- 7.0%
$276,059
$255,000
- 7.6%
$315,000
$320,000
+ 1.6%
4 Bedrooms or More
$525,000
$475,000
- 9.5%
$525,000
$475,000
- 9.5%
$599,000
$415,000
- 30.7%
All Bedroom Counts
$258,500
$233,832
- 9.5%
$282,500
$270,000
- 4.4%
$191,165
$148,500
- 22.3%
All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Percent of List Price Received Percentage found when dividing a property’s sales price by its last list price, then taking the average for all properties sold, not accounting for seller concessions. Based on a rolling 12-month average.
By Price Range 4-2010
By Property Type
By Bedroom Count
4-2011
4-2010
4-2010
4-2011
4-2011
94.2% 94.8%
94.5% 94.4%
94.0% 93.8% 93.2%
93.2%
93.6%
93.8% 93.3%
93.8% 93.5%
93.3%
92.4%
93.4%
91.8% 91.1%
91.9%
92.6%
+ 0.8%
- 0.4%
- 0.2%
+ 0.5%
+ 0.8%
+ 0.9%
- 0.8%
+ 0.2%
- 0.4%
+ 1.4%
$100,000 and Below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
Single-Family Homes
Condos
All Properties
Single-Family Homes
Condos
By Price Range
4-2010
4-2011
Change
4-2010
4-2011
Change
4-2010
4-2011
Change
$100,000 and Below
92.4%
93.2%
+ 0.8%
94.0%
90.7%
- 3.5%
91.5%
94.5%
+ 3.3%
$100,001 to $225,000
94.8%
94.4%
- 0.4%
95.6%
95.0%
- 0.7%
92.0%
92.5%
+ 0.6%
$225,001 to $375,000
94.0%
93.8%
- 0.2%
94.8%
94.5%
- 0.4%
92.0%
92.0%
- 0.0%
$375,001 to $650,000
93.2%
93.6%
+ 0.5%
93.5%
94.0%
+ 0.5%
92.3%
92.4%
+ 0.1%
$650,001 and Above
91.1%
91.8%
+ 0.8%
90.9%
91.7%
+ 0.9%
92.8%
92.8%
- 0.1%
All Price Ranges
93.5%
93.6%
+ 0.1%
94.2%
93.8%
- 0.4%
91.9%
93.3%
+ 1.4%
By Bedroom Count
4-2010
4-2011
Change
4-2010
4-2011
Change
4-2010
4-2011
Change
2 Bedrooms or Less
92.6%
93.5%
+ 0.9%
93.8%
93.6%
- 0.2%
92.0%
93.4%
+ 1.6%
3 Bedrooms
94.5%
93.8%
- 0.8%
94.8%
94.1%
- 0.8%
92.3%
92.2%
- 0.1%
4 Bedrooms or More
93.3%
93.4%
+ 0.2%
93.3%
93.5%
+ 0.1%
90.3%
89.2%
- 1.3%
All Bedroom Counts
93.5%
93.6%
+ 0.1%
94.2%
93.8%
- 0.4%
91.9%
93.3%
+ 1.4%
All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
Inventory of Homes for Sale The number of properties available for sale in active status at the end of the most recent month. Based on one month of activity.
By Price Range 4-2010
By Property Type
By Bedroom Count
4-2011
4-2010 948
894
858 696
1,445 827
777
4-2010
4-2011
755
2,602 1,253
1,170
665
4-2011
951
1,152
2,140 923 1,179
304
1,001
198
- 34.9%
- 18.9%
- 14.4%
- 15.5%
- 12.8%
- 18.7%
- 13.3%
- 19.9%
- 17.8%
- 15.1%
$100,000 and Below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
Single-Family Homes
Condos
All Properties By Price Range
Single-Family Homes
4-2010
4-2011
Change
4-2010
$100,000 and Below
304
198
- 34.9%
$100,001 to $225,000
858
696
- 18.9%
$225,001 to $375,000
777
665
$375,001 to $650,000
894
755
$650,001 and Above
948
All Price Ranges
By Bedroom Count
Condos
4-2011
Change
4-2010
4-2011
Change
115
86
- 25.2%
189
112
- 40.7%
564
510
- 9.6%
294
186
- 36.7%
- 14.4%
490
361
- 26.3%
287
304
+ 5.9%
- 15.5%
611
481
- 21.3%
283
274
- 3.2%
827
- 12.8%
822
702
- 14.6%
126
125
- 0.8%
3,781
3,141
- 16.9%
2,602
2,140
- 17.8%
1,179
1,001
- 15.1%
4-2010
4-2011
Change
4-2010
4-2011
Change
4-2010
4-2011
Change
2 Bedrooms or Less
1,170
951
- 18.7%
306
285
- 6.9%
864
666
- 22.9%
3 Bedrooms
1,445
1,253
- 13.3%
1,163
969
- 16.7%
282
284
+ 0.7%
4 Bedrooms or More
1,152
923
- 19.9%
1,132
885
- 21.8%
20
38
+ 90.0%
All Bedroom Counts
3,781
3,141
- 16.9%
2,602
2,140
- 17.8%
1,179
1,001
- 15.1%
All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Months Supply of Inventory The inventory of homes for sale at the end of the most recent month, based on one month of activity, divided by the average monthly pending sales from the last 12 months.
By Price Range 4-2010
4-2010 31.0
13.5 10.9
4-2010
4-2011
22.0
17.0
16.9
20.6 16.0
17.3 13.7
13.2
13.3
17.3
16.0
4-2011
30.3
21.5
13.1
By Property Type
By Bedroom Count
4-2011
11.6
12.5
4.2
- 68.2%
- 19.3%
- 22.2%
- 19.4%
- 2.4%
- 31.7%
- 21.8%
- 27.5%
- 24.0%
- 33.5%
$100,000 and Below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and Above
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
Single-Family Homes
Condos
All Properties By Price Range
4-2010
Single-Family Homes
4-2011
Change
4-2010
Condos
4-2011
Change
4-2010
4-2011
Change
$100,000 and Below
13.1
4.2
- 68.2%
15.7
5.1
- 67.7%
11.9
3.7
- 69.2%
$100,001 to $225,000
13.5
10.9
- 19.3%
11.7
10.5
- 10.2%
19.4
12.3
- 36.7%
$225,001 to $375,000
16.0
12.5
- 22.2%
14.4
9.2
- 36.1%
19.8
21.5
+ 8.4%
$375,001 to $650,000
21.5
17.3
- 19.4%
18.6
14.2
- 23.8%
32.3
28.3
- 12.4%
$650,001 and Above
31.0
30.3
- 2.4%
29.8
29.7
- 0.5%
38.5
34.1
- 11.5%
All Price Ranges
18.2
13.3
- 26.9%
17.3
13.2
- 24.0%
20.6
13.7
- 33.5%
By Bedroom Count
4-2010
4-2011
Change
4-2010
4-2011
Change
4-2010
4-2011
Change
2 Bedrooms or Less
16.9
11.6
- 31.7%
12.8
11.3
- 11.8%
19.1
11.7
- 38.8%
3 Bedrooms
17.0
13.3
- 21.8%
15.6
12.2
- 22.1%
26.4
19.3
- 27.2%
4 Bedrooms or More
22.0
16.0
- 27.5%
22.0
15.4
- 29.8%
14.0
31.7
+ 126.2%
All Bedroom Counts
18.2
13.3
- 26.9%
17.3
13.2
- 24.0%
20.6
13.7
- 33.5%
All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 7