Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
September 2011
Quick Facts
It's no secret that certain market segments tend to outperform others based on a number of factors. For the 12-month period spanning October 2010 through September 2011, Pending Sales in the Hilton Head region were up 8.9 percent overall. The price range with the largest gain in sales was the $100,000 and Below range, where they increased 22.4 percent. The overall Median Sales Price was down 5.3 percent to $232,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 5.7 percent to $264,000. The price range that tended to sell the quickest was the $100,000 and Below range at 116 days; the price range that tended to sell the slowest was the $650,001 and Above range at 233 days. Market-wide, inventory levels were down 20.3 percent. The property type that lost the least inventory was the Condo segment, where it decreased 17.7 percent. That amounts to 11.8 months supply for Single-Family homes and 13.7 months supply for Condos.
+ 22.4%
+ 11.0%
+ 10.4%
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 9-2010
By Bedroom Count
9-2011
9-2010
By Property Type 9-2010
9-2011
9-2011
810
770
1,165
693 968
577
557
517
1,025
2,036
1,050
1,845
520
455
637 345
702
321
865
819
+ 22.4%
+ 5.2%
+ 20.1%
+ 0.6%
- 7.0%
+ 5.9%
+ 11.0%
+ 10.2%
+ 10.4%
+ 5.6%
$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
Condos
9-2010
9-2011
Change
9-2010
9-2011
Change
9-2010
9-2011
$100,000 and Below
455
557
+ 22.4%
144
218
+ 51.4%
311
339
+ 9.0%
$100,001 to $225,000
770
810
+ 5.2%
594
610
+ 2.7%
176
200
+ 13.6%
$225,001 to $375,000
577
693
+ 20.1%
411
509
+ 23.8%
166
184
+ 10.8%
$375,001 to $650,000
517
520
+ 0.6%
390
419
+ 7.4%
127
101
- 20.5%
$650,001 and Above
345
321
- 7.0%
306
280
- 8.5%
39
41
+ 5.1%
2,664
2,901
+ 8.9%
1,845
2,036
+ 10.4%
819
865
+ 5.6%
9-2010
9-2011
Change
9-2010
9-2011
Change
9-2010
9-2011
Change
968
1,025
+ 5.9%
315
372
+ 18.1%
653
653
0.0%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
Change
1,050
1,165
+ 11.0%
900
968
+ 7.6%
150
197
+ 31.3%
4 Bedrooms or More
637
702
+ 10.2%
630
695
+ 10.3%
7
7
0.0%
All Bedroom Counts
2,664
2,901
+ 8.9%
1,845
2,036
+ 10.4%
819
865
+ 5.6%
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 9-2010
By Bedroom Count
9-2011
9-2010
By Property Type 9-2010
9-2011
9-2011
233 187 149 116
162 172
202 180
135
139
171
148 136
148
132
125
146
145 140
79
+ 46.5% $100,000 and Below
+ 5.1% $100,001 to $225,000
- 0.7% $225,001 to $375,000
- 3.5% $375,001 to $650,000
+ 15.0% $650,001 and Above
All Properties By Price Range
2 Bedrooms or Less
+ 9.4% 3 Bedrooms
- 0.6%
- 0.4%
+ 15.5%
4 Bedrooms or More
Single-Family Homes
Condos
Single-Family Homes
9-2010
9-2011
Change
$100,000 and Below
79
116
$100,001 to $225,000
125
132
$225,001 to $375,000
149
$375,001 to $650,000
187
$650,001 and Above All Price Ranges
By Bedroom Count
+ 2.9%
9-2010
9-2011
Change
+ 46.5%
87
113
+ 5.1%
118
127
148
- 0.7%
138
180
- 3.5%
174
202
233
+ 15.0%
144
150
Condos 9-2010
9-2011
Change
+ 30.0%
75
118
+ 55.8%
+ 7.7%
150
147
- 2.1%
125
- 9.1%
178
215
+ 21.1%
164
- 5.5%
240
248
+ 3.4%
206
238
+ 15.5%
170
193
+ 13.5%
+ 4.3%
146
145
- 0.4%
140
162
+ 15.5%
9-2010
9-2011
Change
9-2010
9-2011
Change
9-2010
9-2011
Change
2 Bedrooms or Less
135
139
+ 2.9%
135
105
- 21.7%
135
158
+ 17.0%
3 Bedrooms
136
148
+ 9.4%
130
143
+ 10.1%
169
174
+ 2.9%
4 Bedrooms or More
172
171
- 0.6%
172
170
- 1.2%
119
209
+ 76.4%
All Bedroom Counts
144
150
+ 4.3%
146
145
- 0.4%
140
162
+ 15.5%
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 | 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 9-2010
By Property Type 9-2010
9-2011
9-2011 $280,000
$510,000
$245,000 $445,000
$264,000
$232,000
$161,000 $280,000 $162,500
$150,000
$273,000
$155,000
- 4.6%
- 2.5%
2 Bedrooms or Less
3 Bedrooms
- 12.7%
- 5.3%
4 Bedrooms or More
All Properties By Bedroom Count
- 5.7%
All Properties
Single-Family Homes
Single-Family Homes
- 6.8% Condos
Condos
9-2010
9-2011
Change
9-2010
9-2011
Change
9-2010
9-2011
Change
2 Bedrooms or Less
$162,500
$155,000
- 4.6%
$180,000
$177,750
- 1.3%
$128,250
$110,000
- 14.2%
3 Bedrooms
$280,000
$273,000
- 2.5%
$265,000
$265,177
+ 0.1%
$325,000
$290,000
- 10.8%
4 Bedrooms or More
$510,000
$445,000
- 12.7%
$505,875
$445,000
- 12.0%
$715,000
$550,000
- 23.1%
All Bedroom Counts
$245,000
$232,000
- 5.3%
$280,000
$264,000
- 5.7%
$161,000
$150,000
- 6.8%
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 | 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 9-2010
By Bedroom Count
9-2011
9-2010
94.8%
9-2010
94.1%
94.5%
94.0%
By Property Type
9-2011
93.9%
94.0%
94.0%
94.1%
9-2011
94.1%
93.9% 93.4%
93.3%
93.6%
92.2% 91.7% 91.8%
93.5% 93.5% 93.2%
92.4%
- 1.9%
- 0.3%
+ 0.2%
+ 0.7%
+ 0.1%
- 0.4%
- 0.1%
+ 0.0%
+ 0.1%
- 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
Single-Family Homes
Condos
By Price Range
9-2010
9-2011
Change
9-2010
9-2011
Change
9-2010
9-2011
$100,000 and Below
94.0%
92.2%
- 1.9%
92.5%
91.3%
- 1.2%
94.7%
92.8%
- 2.1%
$100,001 to $225,000
94.8%
94.5%
- 0.3%
95.4%
95.1%
- 0.3%
92.7%
92.8%
+ 0.1%
$225,001 to $375,000
93.9%
94.1%
+ 0.2%
94.6%
95.0%
+ 0.4%
92.2%
91.5%
- 0.8%
$375,001 to $650,000
93.3%
93.9%
+ 0.7%
93.4%
94.3%
+ 1.0%
92.8%
92.2%
- 0.6%
$650,001 and Above
91.7%
91.8%
+ 0.1%
91.5%
91.7%
+ 0.2%
93.1%
92.2%
- 1.0%
All Price Ranges
93.8%
93.6%
- 0.2%
94.0%
94.1%
+ 0.1%
93.4%
92.4%
- 1.0%
Change
By Bedroom Count
9-2010
9-2011
Change
9-2010
9-2011
Change
9-2010
9-2011
Change
2 Bedrooms or Less
93.6%
93.2%
- 0.4%
93.8%
94.5%
+ 0.7%
93.5%
92.5%
- 1.0%
3 Bedrooms
94.1%
94.0%
- 0.1%
94.4%
94.4%
- 0.0%
92.6%
92.3%
- 0.4%
4 Bedrooms or More
93.5%
93.5%
+ 0.0%
93.5%
93.5%
- 0.0%
89.9%
91.7%
+ 1.9%
All Bedroom Counts
93.8%
93.6%
- 0.2%
94.0%
94.1%
+ 0.1%
93.4%
92.4%
- 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 9-2010
By Bedroom Count
9-2011
9-2010
866 684
744
707
9-2010
1,467
881
827
812
By Property Type
9-2011
643
1,170
9-2011
2,573 1,156
940
1,119
2,018 885 1,198
385
986 226
- 41.3%
- 21.0%
- 20.8%
- 14.5%
- 15.6%
- 19.7%
- 21.2%
- 20.9%
- 21.6%
- 17.7%
$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
Single-Family Homes
9-2010
9-2011
Change
9-2010
$100,000 and Below
385
226
- 41.3%
$100,001 to $225,000
866
684
- 21.0%
$225,001 to $375,000
812
643
$375,001 to $650,000
827
707
$650,001 and Above
881
All Price Ranges
By Bedroom Count
Condos
9-2011
Change
9-2010
9-2011
Change
168
90
- 46.4%
217
136
- 37.3%
595
462
- 22.4%
271
222
- 18.1%
- 20.8%
493
362
- 26.6%
319
281
- 11.9%
- 14.5%
562
477
- 15.1%
265
230
- 13.2%
744
- 15.6%
755
627
- 17.0%
126
117
- 7.1%
3,771
3,004
- 20.3%
2,573
2,018
- 21.6%
1,198
986
- 17.7%
9-2010
9-2011
Change
9-2010
9-2011
Change
9-2010
9-2011
Change
2 Bedrooms or Less
1,170
940
- 19.7%
318
268
- 15.7%
852
672
- 21.1%
3 Bedrooms
1,467
1,156
- 21.2%
1,160
893
- 23.0%
307
263
- 14.3%
4 Bedrooms or More
1,119
885
- 20.9%
1,093
855
- 21.8%
26
30
+ 15.4%
All Bedroom Counts
3,771
3,004
- 20.3%
2,573
2,018
- 21.6%
1,198
986
- 17.7%
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 | 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 9-2010
By Bedroom Count
9-2011
9-2010
29.1
By Property Type
9-2011
9-2010
29.1
9-2011 17.7
16.6
20.6
13.7
16.7 18.9 16.5
16.2
11.0
13.6 10.8
10.0
15.0
14.8
11.8
11.8
11.0
4.8
- 55.0% $100,000 and Below
- 26.7% $100,001 to $225,000
- 33.5% $225,001 to $375,000
- 14.7% $375,001 to $650,000
- 0.1% $650,001 and Above
All Properties By Price Range
9-2010
- 25.8% 2 Bedrooms or Less
- 28.9% 3 Bedrooms
- 27.1%
- 29.1%
- 22.5%
4 Bedrooms or More
Single-Family Homes
Condos
Single-Family Homes
9-2011
Change
9-2010
9-2011
Change
Condos 9-2010
9-2011
Change
$100,000 and Below
10.8
4.8
- 55.0%
15.5
4.9
- 68.2%
8.7
4.8
- 45.0%
$100,001 to $225,000
13.6
10.0
- 26.7%
12.1
8.9
- 26.8%
18.7
13.5
- 27.6%
$225,001 to $375,000
16.5
11.0
- 33.5%
14.2
8.4
- 40.9%
22.1
18.3
- 17.2%
$375,001 to $650,000
18.9
16.2
- 14.7%
16.8
13.5
- 19.7%
25.9
27.3
+ 5.7%
$650,001 and Above
29.1
29.1
- 0.1%
28.3
28.1
- 0.8%
35.2
36.0
+ 2.4%
All Price Ranges
17.0
12.4
- 27.1%
16.6
11.8
- 29.1%
17.7
13.7
- 22.5%
By Bedroom Count
9-2010
9-2011
Change
9-2010
9-2011
Change
9-2010
9-2011
Change
2 Bedrooms or Less
14.8
11.0
- 25.8%
12.4
8.6
- 30.8%
16.0
12.3
- 22.6%
3 Bedrooms
16.7
11.8
- 28.9%
15.4
11.0
- 28.8%
24.1
16.4
- 32.1%
4 Bedrooms or More
20.6
15.0
- 27.1%
20.4
14.7
- 27.9%
19.5
30.0
+ 53.8%
All Bedroom Counts
17.0
12.4
- 27.1%
16.6
11.8
- 29.1%
17.7
13.7
- 22.5%
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