Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
August 2011
Quick Facts
In times of economic uncertainty, a home is one of the best long-term investments you can make. For the 12-month period spanning September 2010 through August 2011, Pending Sales in the Hilton Head region were 9 6 percent from f h same period i d a year prior. i However, H h llargest up 9.6 the the gain occurred in the $100,000 and Below range, where they increased 30.8 percent to 561 units. The overall Median Sales Price was down 6.3 percent to $232,000. But the property type with the smallest price decline was the Single-Family segment, where prices decreased 5.4 percent to $264,500. The price range that tended to sell the quickest was the $100,000 and Below range at 111 days; the price range that tended to sell the slowest was the $650,001 and Above range at 220 days. Market-wide, inventory levels were down 20.8 percent. The property type that lost the least inventory was the Condo segment, where it decreased 16.5 percent. That amounts to 11.9 months supply for Single-Family homes and 13.8 months supply for Condos.
+ 30.8%
+ 11.7%
+ 11.1%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$100,000 and Below
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 8-2010
By Bedroom Count
8-2011
8-2010
By Property Type 8-2010
8-2011
8-2011
824 762
1,181 704 1,028
1,855
948
589
561
2,060
1,057
524
528
429
652
706
363 307
864
812
+ 30.8%
+ 8.1%
+ 19.5%
+ 0.8%
- 15.4%
+ 8.4%
+ 11.7%
+ 8.3%
+ 11.1%
+ 6.4%
$100,000 and Below
$100,001 to $225 000 $225,000
$225,001 to $375 000 $375,000
$375,001 to $650 000 $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
8-2010
Single-Family Homes
Condos
8-2011
Change
8-2010
8-2011
Change
8-2010
8-2011
Change
$100,000 and Below
429
561
+ 30.8%
130
221
+ 70.0%
299
340
+ 13.7%
$100,001 to $225,000
762
824
+ 8.1%
588
626
+ 6.5%
174
198
+ 13.8%
$225,001 to $375,000
589
704
+ 19.5%
416
520
+ 25.0%
173
184
+ 6.4%
$375,001 to $650,000
524
528
+ 0.8%
401
425
+ 6.0%
123
103
- 16.3%
$650,001 and Above
363
307
- 15.4%
320
268
- 16.3%
43
39
- 9.3%
2,667
2,924
+ 9.6%
1,855
2,060
+ 11.1%
812
864
+ 6.4%
8-2010
8-2011
Change
8-2010
8-2011
Change
8-2010
8-2011
Change
948
1,028
+ 8.4%
307
376
+ 22.5%
641
652
+ 1.7%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
1,057
1,181
+ 11.7%
904
985
+ 9.0%
153
196
+ 28.1%
4 Bedrooms or More
652
706
+ 8.3%
644
698
+ 8.4%
8
8
0.0%
All Bedroom Counts
2,667
2,924
+ 9.6%
1,855
2,060
+ 11.1%
812
864
+ 6.4%
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 | 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 8-2010
By Bedroom Count
8-2011
8-2010
209 186 150
8-2010
220
179
By Property Type
8-2011
174 138
138
139
160
165
147
150 148
132
130
8-2011
111 144
143 81
+ 36.9%
+ 1.2%
- 0.2%
- 3.9%
+ 5.3%
- 0.2%
+ 5.8%
- 5.2%
- 3.6%
+ 11.2%
$100,000 and Below
$100,001 to $225 000 $225,000
$225,001 to $375 000 $375,000
$375,001 to $650 000 $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
8-2010
Single-Family Homes
8-2011
Change
8-2010
8-2011
Change
Condos 8-2010
8-2011
Change
$100,000 and Below
81
111
+ 36.9%
85
109
+ 28.1%
79
112
+ 41.6%
$100,001 to $225,000
130
132
+ 1.2%
123
127
+ 3.2%
154
146
- 5.2%
$225,001 to $375,000
150
150
- 0.2%
141
127
- 9.7%
171
214
+ 25.3%
$375,001 to $650,000
186
179
- 3.9%
171
161
- 5.8%
241
258
+ 7.1%
$650,001 and Above
209
220
+ 5.3%
214
223
+ 4.2%
170
203
+ 19.5%
All Price Ranges
147
148
+ 0.8%
148
143
- 3.6%
144
160
+ 11.2%
By Bedroom Count
8-2010
8-2011
Change
8-2010
8-2011
Change
8-2010
8-2011
Change
2 Bedrooms or Less
138
138
- 0.2%
136
111
- 18.8%
140
153
+ 9.4%
3 Bedrooms
139
147
+ 5.8%
134
140
+ 4.3%
165
181
+ 9.6%
4 Bedrooms or More
174
165
- 5.2%
174
164
- 5.8%
156
233
+ 49.6%
All Bedroom Counts
147
148
+ 0.8%
148
143
- 3.6%
144
160
+ 11.2%
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 8-2010
By Property Type 8-2010
8-2011
8-2011 $279,500 $264,500
$500,000
$247,500 $232,000
$464,900
$170,000 $283,000
$165,450
$142,675
$264,500
$150,000
- 9.3%
- 6.5%
2 Bedrooms or Less
3 Bedrooms
- 7.0%
- 6.3%
4 Bedrooms or More
All Properties By Bedroom Count
- 5.4%
All Properties
Single Family Homes Single-Family
Single-Family Homes
- 16.1% Condos
Condos
8-2010
8-2011
Change
8-2010
8-2011
Change
8-2010
8-2011
Change
2 Bedrooms or Less
$165,450
$150,000
- 9.3%
$180,000
$175,000
- 2.8%
$134,000
$110,000
- 17.9%
3 Bedrooms
$283,000
$264,500
- 6.5%
$265,000
$255,000
- 3.8%
$335,000
$285,000
- 14.9%
4 Bedrooms or More
$500,000
$464,900
- 7.0%
$497,500
$464,380
- 6.7%
$599,000
$675,000
+ 12.7%
All Bedroom Counts
$247,500
$232,000
- 6.3%
$279,500
$264,500
- 5.4%
$170,000
$142,675
- 16.1%
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 | 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 8-2010
By Bedroom Count
8-2011
8-2010 94.7%
94.3%
94.5%
By Property Type 8-2010
8-2011 94.2%
93.9%
94.0%
93.9%
94.0%
8-2011
94.1%
94.0% 93.3%
93.2% 93.5% 91.9% 91.7%
93.5%
93.6%
91.9%
92.2%
93.0%
- 2.5%
- 0.2%
+ 0.2%
+ 0.8%
+ 0.2%
- 0.5%
- 0.2%
+ 0.1%
+ 0.1%
- 1.2%
$100,000 and Below
$100,001 to $225 000 $225,000
$225,001 to $375 000 $375,000
$375,001 to $650 000 $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
8-2010
8-2011
Single-Family Homes Change
8-2010
8-2011
Change
Condos 8-2010
8-2011
Change
$100,000 and Below
94.3%
91.9%
- 2.5%
93.0%
91.4%
- 1.7%
94.9%
92.3%
- 2.7%
$100,001 to $225,000
94.7%
94.5%
- 0.2%
95.5%
95.1%
- 0.4%
92.3%
92.8%
+ 0.5%
$225,001 to $375,000
93.9%
94.0%
+ 0.2%
94.6%
95.0%
+ 0.4%
92.3%
91.4%
- 0.9%
$375,001 to $650,000
93.2%
93.9%
+ 0.8%
93.4%
94.3%
+ 1.0%
92.5%
92.1%
- 0.4%
$650,001 and Above
91.7%
91.9%
+ 0.2%
91.5%
91.9%
+ 0.4%
93.2%
91.9%
- 1.5%
All Price Ranges
93.8%
93.5%
- 0.3%
94.0%
94.1%
+ 0.1%
93.3%
92.2%
- 1.2%
By Bedroom Count
8-2010
8-2011
Change
8-2010
8-2011
Change
8-2010
8-2011
Change
2 Bedrooms or Less
93.5%
93.0%
- 0.5%
93.7%
94.4%
+ 0.8%
93.4%
92.3%
- 1.2%
3 Bedrooms
94.2%
94.0%
- 0.2%
94.5%
94.4%
- 0.1%
92.5%
92.0%
- 0.6%
4 Bedrooms or More
93.5%
93.6%
+ 0.1%
93.6%
93.6%
+ 0.0%
89.2%
91.8%
+ 2.9%
All Bedroom Counts
93.8%
93.5%
- 0.3%
94.0%
94.1%
+ 0.1%
93.3%
92.2%
- 1.2%
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 8-2010
By Bedroom Count
8-2011
8-2010
767 689 630
1,181
8-2011
2,584
835
807 678
8-2010
1,466
891
871
By Property Type
8-2011
1,138
1,119
1,996
956 875 1,193
373
996 228
- 38.9%
- 22.2%
- 21.9%
- 17.5%
- 13.9%
- 19.1%
- 22.4%
- 21.8%
- 22.8%
- 16.5%
$100,000 and Below
$100,001 to $225 000 $225,000
$225,001 to $375 000 $375,000
$375,001 to $650 000 $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
8-2010
8-2011
Change
8-2010
$100,000 and Below
373
228
- 38.9%
$100,001 to $225,000
871
678
- 22.2%
$225,001 to $375,000
807
630
$375,001 to $650,000
835
689
$650,001 and Above
891
All Price Ranges
By Bedroom Count
Condos
8-2011
Change
8-2010
8-2011
Change
160
94
- 41.3%
213
134
- 37.1%
606
451
- 25.6%
265
227
- 14.3%
- 21.9%
483
354
- 26.7%
324
276
- 14.8%
- 17.5%
568
451
- 20.6%
267
238
- 10.9%
767
- 13.9%
767
646
- 15.8%
124
121
- 2.4%
3,777
2,992
- 20.8%
2,584
1,996
- 22.8%
1,193
996
- 16.5%
8-2010
8-2011
Change
8-2010
8-2011
Change
8-2010
8-2011
Change
2 Bedrooms or Less
1,181
956
- 19.1%
323
268
- 17.0%
858
688
- 19.8%
3 Bedrooms
1,466
1,138
- 22.4%
1,166
881
- 24.4%
300
257
- 14.3%
4 Bedrooms or More
1,119
875
- 21.8%
1,094
845
- 22.8%
25
30
+ 20.0%
All Bedroom Counts
3,777
2,992
- 20.8%
2,584
1,996
- 22.8%
1,193
996
- 16.5%
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 | 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 8-2010
By Bedroom Count
8-2011
8-2010
28.6
8-2010
15.7
16.5
20.6
13.8 15.1
15.1
19.4
8-2011 17.9
29.9
16.3
16.1
By Property Type
8-2011
11.2
11.9
11.7
13.3 11.2
10.0
11.1
4.9
- 56.3%
- 24.7%
- 31.4%
- 18.7%
+ 4.5%
- 25.4%
- 28.3%
- 26.7%
- 28.3%
- 23.0%
$100,000 and Below
$100,001 to $225 000 $225,000
$225,001 to $375 000 $375,000
$375,001 to $650 000 $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
8-2010
Single-Family Homes
8-2011
Change
8-2010
8-2011
Change
Condos 8-2010
8-2011
Change
$100,000 and Below
11.2
4.9
- 56.3%
16.0
5.2
- 67.2%
9.2
4.7
- 48.8%
$100,001 to $225,000
13.3
10.0
- 24.7%
12.0
8.8
- 26.5%
17.9
13.8
- 22.6%
$225,001 to $375,000
16.1
11.1
- 31.4%
13.9
8.4
- 39.5%
21.2
18.6
- 12.4%
$375,001 to $650,000
19.4
15.7
- 18.7%
17.1
13.0
- 24.2%
26.9
26.4
- 1.8%
$650,001 and Above
28.6
29.9
+ 4.5%
27.6
29.0
+ 5.0%
36.3
35.4
- 2.4%
All Price Ranges
16.9
12.4
- 26.6%
16.5
11.9
- 28.3%
17.9
13.8
- 23.0%
By Bedroom Count
8-2010
8-2011
Change
8-2010
8-2011
Change
8-2010
8-2011
Change
2 Bedrooms or Less
15.1
11.2
- 25.4%
12.4
9.0
- 27.7%
16.4
12.5
- 23.9%
3 Bedrooms
16.3
11.7
- 28.3%
15.2
10.8
- 28.6%
23.5
16.4
- 30.3%
4 Bedrooms or More
20.6
15.1
- 26.7%
20.4
14.8
- 27.6%
16.7
26.7
+ 60.0%
All Bedroom Counts
16.9
12.4
- 26.6%
16.5
11.9
- 28.3%
17.9
13.8
- 23.0%
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 | 7