Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
May 2013
Quick Facts
Summer is right around the corner. In addition to corn on the cob, grilled steaks and your favorite outdoor activity, be watching for increased seller activity in response to constrained inventory levels and rising prices. For h 12-month 12 h period i d spanning i J h hM di the June 2012 through May 2013 2013, P Pending Sales in the Hilton Head region were up 15.1 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 23.9 percent. The overall Median Sales Price was up 4.4 percent to $235,000. The property type with the largest price gain was the Condo segment, where prices increased 10.0 percent to $170,500. The price range that tended to sell the quickest was the $100,000 and Below range at 92 days; the price range that tended to sell the slowest was the $650,001 and Above range at 182 days. Market-wide, inventory levels were down 15.7 percent. The property type that lost the least inventory was the Condo segment, where it decreased 11.7 percent. That amounts to 7.8 months supply for Single-Family homes and 10.2 months supply for Condos.
+ 23.9%
+ 19.9%
+ 20.8%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$225,001 to $375,000
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 5-2012
By Bedroom Count
5-2013
5-2012
By Property Type 5-2012
5-2013
1,106
2,633
1,543 936
5-2013
934 1,286
2,179
1,287
1,169
754 675 556
581
538
792 687 322
993
970
373
- 3.2%
+ 18.2%
+ 23.9%
+ 16.2%
+ 15.8%
+ 10.0%
+ 19.9%
+ 15.3%
+ 20.8%
+ 2.4%
$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 By Price Range
5-2012
5-2013
Single-Family Homes Change
5-2012
5-2013
Change
Condos 5-2012
5-2013
Change
$100,000 and Below
556
538
- 3.2%
230
226
- 1.7%
326
312
- 4.3%
$100,001 to $225,000
936
1,106
+ 18.2%
677
831
+ 22.7%
259
275
+ 6.2%
$225,001 to $375,000
754
934
+ 23.9%
541
705
+ 30.3%
213
229
+ 7.5%
$375,001 to $650,000
581
675
+ 16.2%
454
549
+ 20.9%
127
126
- 0.8%
$650,001 and Above
322
373
+ 15.8%
277
322
+ 16.2%
45
51
+ 13.3%
3,149
3,626
+ 15.1%
2,179
2,633
+ 20.8%
970
993
+ 2.4%
All Price Ranges
By Bedroom Count
5-2012
5-2013
Change
5-2012
5-2013
Change
5-2012
5-2013
Change
2 Bedrooms or Less
1,169
1,286
+ 10.0%
448
543
+ 21.2%
721
743
+ 3.1%
3 Bedrooms
1,287
1,543
+ 19.9%
1,056
1,315
+ 24.5%
231
228
- 1.3%
4 Bedrooms or More
687
792
+ 15.3%
674
774
+ 14.8%
13
18
+ 38.5%
All Bedroom Counts
3,149
3,626
+ 15.1%
2,179
2,633
+ 20.8%
970
993
+ 2.4%
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 5-2012
By Bedroom Count
5-2013
5-2012
By Property Type 5-2012
5-2013
5-2013 138
171 159
219
135 133
182 157 130
106
130 114
96
127
126
116
151
112
92
117
- 4.5%
- 12.3%
- 14.0%
- 3.4%
- 16.7%
- 15.3%
- 8.6%
- 7.1%
- 13.1%
- 3.5%
$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
5-2012
5-2013
Single-Family Homes Change
5-2012
5-2013
Change
Condos 5-2012
5-2013
Change
$100,000 and Below
96
92
- 4.5%
106
95
- 10.5%
90
90
- 0.1%
$100,001 to $225,000
130
114
- 12.3%
122
100
- 17.7%
151
150
- 0.5%
$225,001 to $375,000
130
112
- 14.0%
115
98
- 14.8%
174
153
- 12.5%
$375,001 to $650,000
157
151
- 3.4%
150
150
+ 0.5%
186
157
- 15.7%
$650,001 and Above
219
182
- 16.7%
221
185
- 16.1%
206
164
- 20.3%
All Price Ranges
136
122
- 10.4%
135
117
- 13.1%
138
133
- 3.5%
By Bedroom Count
5-2012
5-2013
Change
5-2012
5-2013
Change
5-2012
5-2013
Change
2 Bedrooms or Less
126
106
- 15.3%
105
75
- 28.1%
139
129
- 7.4%
3 Bedrooms
127
116
- 8.6%
127
112
- 11.7%
130
141
+ 8.4%
4 Bedrooms or More
171
159
- 7.1%
170
157
- 7.5%
198
212
+ 6.9%
All Bedroom Counts
136
122
- 10.4%
135
117
- 13.1%
138
133
- 3.5%
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 5-2012
By Property Type 5-2012
5-2013
5-2013
$475,000 $437,250
$259,950 $225,000
$268,955
$162,250
$260,000
$235,000
$170,500
$275,000
$155,000
$172,500
+ 6.3%
+ 2.2%
2 Bedrooms or Less
3 Bedrooms
- 7.9%
+ 4.4%
4 Bedrooms or More
All Properties By Bedroom Count
+ 0.0%
All Properties p
Single-Family g y Homes
Single-Family Homes
+ 10.0% Condos
Condos
5-2012
5-2013
Change
5-2012
5-2013
Change
5-2012
5-2013
Change
2 Bedrooms or Less
$162,250
$172,500
+ 6.3%
$185,000
$189,750
+ 2.6%
$114,500
$144,750
+ 26.4%
3 Bedrooms
$268,955
$275,000
+ 2.2%
$265,000
$275,000
+ 3.8%
$292,500
$295,000
+ 0.9%
4 Bedrooms or More
$475,000
$437,250
- 7.9%
$475,000
$435,000
- 8.4%
$550,000
$591,036
+ 7.5%
All Bedroom Counts
$225,000
$235,000
+ 4.4%
$259,950
$260,000
+ 0.0%
$155,000
$170,500
+ 10.0%
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 | 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 5-2012
By Bedroom Count
5-2013
5-2012
95.1%
5-2012
95.8%
95.8% 95.0%
By Property Type
5-2013
95.5%
95.4%
94.8%
95.0%
95.0%
94.4% 93.8%
94.5%
93.2%
5-2013
94.4% 94.2%
92.2%
94.0% 93.4%
91.0%
93.2%
+ 1.9%
+ 0.8%
+ 1.1%
+ 0.7%
+ 1.4%
+ 1.1%
+ 1.0%
+ 1.8%
+ 1.2%
+ 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
5-2012
5-2013
Single-Family Homes Change
5-2012
5-2013
Change
Condos 5-2012
5-2013
Change
$100,000 and Below
93.2%
95.0%
+ 1.9%
93.0%
94.8%
+ 1.9%
93.4%
95.2%
+ 2.0%
$100,001 to $225,000
95.1%
95.8%
+ 0.8%
95.4%
96.4%
+ 1.0%
94.1%
94.1%
- 0.0%
$225,001 to $375,000
94.8%
95.8%
+ 1.1%
95.6%
96.6%
+ 1.1%
92.4%
93.5%
+ 1.2%
$375,001 to $650,000
93.8%
94.4%
+ 0.7%
93.9%
94.6%
+ 0.7%
93.1%
93.7%
+ 0.7%
$650,001 and Above
91.0%
92.2%
+ 1.4%
91.1%
92.2%
+ 1.3%
90.2%
92.1%
+ 2.2%
All Price Ranges
94.0%
95.2%
+ 1.2%
94.4%
95.5%
+ 1.2%
93.2%
94.2%
+ 1.0%
By Bedroom Count
5-2012
5-2013
Change
5-2012
5-2013
Change
5-2012
5-2013
Change
2 Bedrooms or Less
94.0%
95.0%
+ 1.1%
95.2%
96.3%
+ 1.2%
93.2%
94.1%
+ 1.0%
3 Bedrooms
94.5%
95.4%
+ 1.0%
94.7%
95.4%
+ 0.8%
93.3%
95.0%
+ 1.8%
4 Bedrooms or More
93.4%
95.0%
+ 1.8%
93.4%
95.1%
+ 1.8%
90.9%
90.9%
- 0.0%
All Bedroom Counts
94.0%
95.2%
+ 1.2%
94.4%
95.5%
+ 1.2%
93.2%
94.2%
+ 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 5-2012
By Bedroom Count
5-2013
5-2012
691
696
672
660
By Property Type 5-2012
5-2013
1,203
667
5-2013
2,067
600 536
987
553 904
1,705
904 784
765 959
307
847
196
- 36.2%
- 22.4%
- 16.2%
- 10.7%
- 4.2%
- 13.3%
- 18.0%
- 15.4%
- 17.5%
- 11.7%
$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
5-2012
5-2013
Single-Family Homes Change
5-2012
5-2013
Change
Condos 5-2012
5-2013
Change
$100,000 and Below
307
196
- 36.2%
123
78
- 36.6%
184
118
- 35.9%
$100,001 to $225,000
691
536
- 22.4%
457
310
- 32.2%
234
226
- 3.4% - 4.7%
$225,001 to $375,000
660
553
- 16.2%
403
308
- 23.6%
257
245
$375,001 to $650,000
672
600
- 10.7%
479
419
- 12.5%
193
181
- 6.2%
$650,001 and Above
696
667
- 4.2%
605
590
- 2.5%
91
77
- 15.4%
3,026
2,552
- 15.7%
2,067
1,705
- 17.5%
959
847
- 11.7%
5-2012
5-2013
Change
5-2012
5-2013
Change
5-2012
5-2013
Change
904
784
- 13.3%
238
190
- 20.2%
666
594
- 10.8%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
1,203
987
- 18.0%
951
781
- 17.9%
252
206
- 18.3%
4 Bedrooms or More
904
765
- 15.4%
876
734
- 16.2%
28
31
+ 10.7%
All Bedroom Counts
3,026
2,552
- 15.7%
2,067
1,705
- 17.5%
959
847
- 11.7%
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 5-2012
By Bedroom Count
5-2013
5-2012
By Property Type
5-2013
5-2012
5-2013
15.8
25.9
11.9
11.4
10.2
21.5 11.6
11.2
7.8
9.3 13.9 7.3
10.7
10.5
7.7
8.9 6.6
5.8
4.4
7.1
- 34.0%
- 34.4%
- 32.4%
- 23.1%
- 17.3%
- 21.2%
- 31.6%
- 26.6%
- 31.7%
- 13.7%
$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
5-2012
5-2013
Single-Family Homes Change
5-2012
5-2013
Change
Condos 5-2012
5-2013
Change
$100,000 and Below
6.6
4.4
- 34.0%
6.4
4.1
- 35.5%
6.8
4.5
- 33.0%
$100,001 to $225,000
8.9
5.8
- 34.4%
8.1
4.5
- 44.7%
10.8
9.9
- 9.0% - 11.3%
$225,001 to $375,000
10.5
7.1
- 32.4%
8.9
5.2
- 41.4%
14.5
12.8
$375,001 to $650,000
13.9
10.7
- 23.1%
12.7
9.2
- 27.7%
18.2
17.2
- 5.5%
$650,001 and Above
25.9
21.5
- 17.3%
26.2
22.0
- 16.1%
24.3
18.1
- 25.3%
All Price Ranges
11.5
8.4
- 26.8%
11.4
7.8
- 31.7%
11.9
10.2
- 13.7%
By Bedroom Count
5-2012
5-2013
Change
5-2012
5-2013
Change
5-2012
5-2013
Change
2 Bedrooms or Less
9.3
7.3
- 21.2%
6.4
4.2
- 34.1%
11.1
9.6
- 13.5%
3 Bedrooms
11.2
7.7
- 31.6%
10.8
7.1
- 34.1%
13.1
10.8
- 17.2%
4 Bedrooms or More
15.8
11.6
- 26.6%
15.6
11.4
- 27.0%
21.5
15.5
- 28.0%
All Bedroom Counts
11.5
8.4
- 26.8%
11.4
7.8
- 31.7%
11.9
10.2
- 13.7%
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