Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
November 2011
Quick Facts
With 2012 just around the corner, many local markets have enjoyed strong sales volumes combined with falling inventory levels so far this year. For the 12-month period spanning December 2010 through N November b 2011, 2011 Pending P di S Sales l iin th the Hilt Hilton H Head d region i were up 4 4.2 2 percent overall. The price range with the largest gain in sales was the $100,001 to $225,000 range, where they increased 8.7 percent. The overall Median Sales Price was down 1.4 percent to $231,250. The property type with the largest price gain was the Condo segment, where prices increased 0.1 percent to $150,000. The price range that tended to sell the quickest was the $100,000 and Below range at 115 days; the price range that tended to sell the slowest was the $650,001 and Above range at 236 days. Market-wide, inventory levels were down 16.8 percent. The property type that lost the least inventory was the Condo segment, where it decreased 15.7 percent. That amounts to 11.4 months supply for Single-Family homes and 13.0 months supply for Condos.
+ 17.4%
+ 16.7%
+ 15.7%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$100,001 to $225,000
3 Bedrooms
Single-Family Homes
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 11-2010
By Bedroom Count
11-2011
11-2010
By Property Type 11-2010
11-2011
11-2011
850 1,196
724
687
1,055
1,025
1,806
956
602
566
2,089
501
485
531 644 321
696
322
867
827
+ 16.7%
+ 17.4%
+ 14.1%
+ 6.0%
+ 0.3%
+ 10.4%
+ 16.7%
+ 8.1%
+ 15.7%
+ 4.8%
$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
11-2010
11-2011
Single-Family Homes
Condos
Change
11-2010
11-2011
Change
11-2010
11-2011
Change
$100,000 and Below
485
566
+ 16.7%
162
219
+ 35.2%
323
347
+ 7.4%
$100,001 to $225,000
724
850
+ 17.4%
549
642
+ 16.9%
175
208
+ 18.9%
$225,001 to $375,000
602
687
+ 14.1%
431
514
+ 19.3%
171
173
+ 1.2%
$375,001 to $650,000
501
531
+ 6.0%
383
430
+ 12.3%
118
101
- 14.4%
$650,001 and Above
321
322
+ 0.3%
281
284
+ 1.1%
40
38
- 5.0%
2,633
2,956
+ 12.3%
1,806
2,089
+ 15.7%
827
867
+ 4.8%
11-2010
11-2011
Change
11-2010
11-2011
Change
11-2010
11-2011
Change
956
1,055
+ 10.4%
297
406
+ 36.7%
659
649
- 1.5%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
1,025
1,196
+ 16.7%
871
994
+ 14.1%
154
202
+ 31.2%
4 Bedrooms or More
644
696
+ 8.1%
637
688
+ 8.0%
7
8
+ 14.3%
All Bedroom Counts
2,633
2,956
+ 12.3%
1,806
2,089
+ 15.7%
827
867
+ 4.8%
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 11-2010
By Bedroom Count
11-2011
11-2010
By Property Type 11-2010
11-2011
11-2011
235
158 170
206 182
183
147 130
145 114
131
125
176
134
133 146
142 142
138 78
+ 47.3%
+ 4.8%
- 1.6%
+ 0.5%
+ 13.7%
+ 3.3%
+ 10.4%
+ 3.6%
+ 2.8%
+ 14.0%
$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
11-2010
Single-Family Homes
11-2011
Change
11-2010
11-2011
Change
Condos 11-2010
11-2011
Change
$100,000 and Below
78
114
+ 47.3%
83
114
+ 37.4%
75
115
+ 52.7%
$100,001 to $225,000
125
131
+ 4.8%
117
124
+ 5.6%
149
153
+ 3.0%
$225,001 to $375,000
145
142
- 1.6%
129
122
- 5.5%
184
205
+ 11.4%
$375,001 to $650,000
182
183
+ 0.5%
170
172
+ 1.1%
230
232
+ 0.9%
$650,001 and Above
206
235
+ 13.7%
207
241
+ 16.0%
199
189
- 5.2%
All Price Ranges
141
149
+ 6.0%
142
146
+ 2.8%
138
158
+ 14.0%
By Bedroom Count
11-2010
11-2011
Change
11-2010
11-2011
Change
11-2010
11-2011
Change
2 Bedrooms or Less
130
134
+ 3.3%
130
101
- 22.5%
130
155
+ 19.6%
3 Bedrooms
133
147
+ 10.4%
125
143
+ 14.1%
176
167
- 5.4%
4 Bedrooms or More
170
176
+ 3.6%
170
176
+ 3.8%
173
153
- 11.9%
All Bedroom Counts
141
149
+ 6.0%
142
146
+ 2.8%
138
158
+ 14.0%
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 11-2010
By Property Type 11-2010
11-2011
11-2011 $275,000
$512,500 $450,000
$274,000
$158,999
$234,500
$263,815
$230,285
$155,000
$149,900
$272,000
$159,000
+ 0.0%
- 0.7%
2 Bedrooms or Less
3 Bedrooms
- 12.2%
- 1.8%
4 Bedrooms or More
All Properties
- 4.1%
All Properties
Single-Family Homes
Single-Family Homes
+ 3.4% Condos
Condos
By Bedroom Count
11-2010
11-2011
Change
11-2010
11-2011
Change
11-2010
11-2011
Change
2 Bedrooms or Less
$158,999
$159,000
+ 0.0%
$180,000
$181,000
+ 0.6%
$122,400
$109,000
- 10.9%
3 Bedrooms
$274,000
$272,000
- 0.7%
$260,000
$264,408
+ 1.7%
$330,000
$290,000
- 12.1%
4 Bedrooms or More
$512,500
$450,000
- 12.2%
$507,500
$450,000
- 11.3%
$1,000,000
$415,000
- 58.5%
All Bedroom Counts
$234,500
$230,285
- 1.8%
$275,000
$263,815
- 4.1%
$149,900
$155,000
+ 3.4%
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 11-2010
By Bedroom Count
11-2011
11-2010 94.6% 94.6%
94.1%
94.0%
By Property Type 11-2010
11-2011
94.1% 94.1%
94.2%
11-2011
94.1% 93.9%
93.9% 93.3%
93.5% 93.7%
92.4% 91.8% 91.5%
93.5% 93.4%
92.6%
93.4%
- 1.8%
+ 0.1%
+ 0.2%
+ 0.6%
- 0.3%
- 0.3%
+ 0.0%
+ 0.0%
+ 0.2%
- 1.0%
$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
11-2010
11-2011
Single-Family Homes Change
11-2010
11-2011
Change
Condos 11-2010
11-2011
Change
$100,000 and Below
94.1%
92.4%
- 1.8%
92.1%
91.7%
- 0.5%
95.1%
92.9%
- 2.3%
$100,001 to $225,000
94.6%
94.6%
+ 0.1%
95.2%
95.1%
- 0.1%
92.4%
93.2%
+ 0.8%
$225,001 to $375,000
94.0%
94.2%
+ 0.2%
94.7%
95.1%
+ 0.5%
92.3%
91.4%
- 0.9%
$375,001 to $650,000
93.3%
93.9%
+ 0.6%
93.4%
94.2%
+ 0.8%
92.8%
92.6%
- 0.2%
$650,001 and Above
91.8%
91.5%
- 0.3%
91.6%
91.6%
- 0.1%
92.8%
90.8%
- 2.2%
All Price Ranges
93.8%
93.7%
- 0.1%
93.9%
94.1%
+ 0.2%
93.5%
92.6%
- 1.0%
By Bedroom Count
11-2010
11-2011
Change
11-2010
11-2011
Change
11-2010
11-2011
Change
2 Bedrooms or Less
93.7%
93.5%
- 0.3%
93.8%
94.7%
+ 1.0%
93.7%
92.7%
- 1.1%
3 Bedrooms
94.1%
94.1%
+ 0.0%
94.4%
94.4%
+ 0.0%
92.4%
92.4%
+ 0.0%
4 Bedrooms or More
93.4%
93.4%
+ 0.0%
93.4%
93.4%
+ 0.0%
89.7%
92.1%
+ 2.7%
All Bedroom Counts
93.8%
93.7%
- 0.1%
93.9%
94.1%
+ 0.2%
93.5%
92.6%
- 1.0%
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 11-2010
By Bedroom Count
11-2011
11-2010 844
By Property Type 11-2010
11-2011
11-2011
826 760
750 635
1,356
726
2,386
673 1,113
616
1,102
1,938
1,039 880
878 344
1,138 942 230
- 33.1%
- 24.8%
- 17.9%
- 11.4%
- 12.1%
- 21.1%
- 18.7%
- 15.3%
- 18.8%
- 17.2%
$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
11-2010
11-2011
Single-Family Homes Change
11-2010
Condos
11-2011
Change
11-2010
11-2011
Change
$100,000 and Below
344
230
- 33.1%
139
88
- 36.7%
205
142
- 30.7%
$100,001 to $225,000
844
635
- 24.8%
585
429
- 26.7%
259
206
- 20.5%
$225,001 to $375,000
750
616
- 17.9%
450
346
- 23.1%
300
270
- 10.0%
$375,001 to $650,000
760
673
- 11.4%
504
462
- 8.3%
256
211
- 17.6%
$650,001 and Above
826
726
- 12.1%
708
613
- 13.4%
118
113
- 4.2%
3,524
2,880
- 18.3%
2,386
1,938
- 18.8%
1,138
942
- 17.2%
All Price Ranges
By Bedroom Count
11-2010
11-2011
Change
11-2010
11-2011
Change
11-2010
11-2011
Change
2 Bedrooms or Less
1,113
878
- 21.1%
310
240
- 22.6%
803
638
- 20.5%
3 Bedrooms
1,356
1,102
- 18.7%
1,062
848
- 20.2%
294
254
- 13.6%
4 Bedrooms or More
1,039
880
- 15.3%
1,013
849
- 16.2%
26
31
+ 19.2%
All Bedroom Counts
3,524
2,880
- 18.3%
2,386
1,938
- 18.8%
1,138
942
- 17.2%
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 | 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 11-2010
By Bedroom Count
11-2011
11-2010
By Property Type
11-2011
11-2010
11-2011 16.9
15.9
29.5 27.1
19.5 12.9 16.1
15.8
15.2
13.7 9.2
8.8
15.0
14.1
18.2
10.0
11.2
11.2
10.4
4.9
- 44.0%
- 32.8%
- 34.5%
- 16.6%
- 8.0%
- 29.1%
- 30.5%
- 22.8%
- 29.4%
- 23.7%
$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
11-2010
Single-Family Homes
11-2011
Change
11-2010
11-2011
Change
Condos 11-2010
11-2011
Change
$100,000 and Below
8.8
4.9
- 44.0%
10.8
4.9
- 54.4%
7.8
4.9
- 36.9%
$100,001 to $225,000
13.7
9.2
- 32.8%
12.5
8.2
- 34.2%
17.6
12.3
- 30.0% - 24.0%
$225,001 to $375,000
15.8
10.4
- 34.5%
13.2
7.9
- 40.0%
22.8
17.3
$375,001 to $650,000
18.2
15.2
- 16.6%
15.8
13.0
- 17.8%
26.3
24.3
- 7.3%
$650,001 and Above
29.5
27.1
- 8.0%
28.9
26.2
- 9.4%
33.7
33.9
+ 0.6%
All Price Ranges
16.2
11.7
- 27.7%
15.9
11.2
- 29.4%
16.9
12.9
- 23.7%
By Bedroom Count
11-2010
11-2011
Change
11-2010
11-2011
Change
11-2010
11-2011
Change
2 Bedrooms or Less
14.1
10.0
- 29.1%
12.4
7.3
- 40.9%
14.9
11.6
- 22.2%
3 Bedrooms
16.1
11.2
- 30.5%
14.7
10.3
- 29.6%
24.2
15.2
- 36.9%
4 Bedrooms or More
19.5
15.0
- 22.8%
19.2
14.7
- 23.5%
22.3
31.0
+ 39.1%
All Bedroom Counts
16.2
11.7
- 27.7%
15.9
11.2
- 29.4%
16.9
12.9
- 23.7%
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