Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
February 2012
Quick Facts
When anecdotal evidence echoes what the empirical data is telling us, it's wise to listen. For the 12-month period spanning March 2011 through February 2012, Pending Sales in the Hilton Head region were up 10.9 percent overall. The price range with the largest gain in sales was the $100,001 to $225,000 range, where they increased 16.5 percent. The overall Median Sales Price was down 0.5 percent to $232,515. The price range that tended to sell the quickest was the $100,000 and Below range at 109 days; the price range that tended to sell the slowest was the $650,001 and Above range at 218 days. Market-wide, inventory levels were down 14.0 percent which amounts to 10.4 months supply for Single-Family homes and 12.1 months supply for Condos.
+ 16.5%
+ 14.7%
+ 13.3%
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
Click on desired metric to jump to that page.
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 2-2011
2-2011
2-2011
2-2012 1,243
874 1,091
750
709
565
2-2012
2,135
1,084
1,885
974
629 538
By Property Type
By Bedroom Count
2-2012
512
544 662 304
690 895
848
338
+ 5.0%
+ 16.5%
+ 12.7%
+ 6.3%
+ 11.2%
+ 12.0%
+ 14.7%
+ 4.2%
+ 13.3%
+ 5.5%
$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
2-2011
2-2012
$100,000 and Below
538
$100,001 to $225,000
750
$225,001 to $375,000 $375,001 to $650,000 $650,001 and Above All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
Single-Family Homes
Condos
Change
2-2011
2-2012
Change
2-2011
2-2012
Change
565
+ 5.0%
184
226
+ 22.8%
354
339
- 4.2%
874
+ 16.5%
570
656
+ 15.1%
180
218
+ 21.1%
629
709
+ 12.7%
464
526
+ 13.4%
165
183
+ 10.9%
512
544
+ 6.3%
404
433
+ 7.2%
108
111
+ 2.8%
304
338
+ 11.2%
263
294
+ 11.8%
41
44
+ 7.3%
2,733
3,030
+ 10.9%
1,885
2,135
+ 13.3%
848
895
+ 5.5%
2-2011
2-2012
Change
2-2011
2-2012
Change
2-2011
2-2012
Change
974
1,091
+ 12.0%
309
422
+ 36.6%
665
669
+ 0.6%
1,084
1,243
+ 14.7%
919
1,033
+ 12.4%
165
210
+ 27.3%
4 Bedrooms or More
662
690
+ 4.2%
656
679
+ 3.5%
6
11
+ 83.3%
All Bedroom Counts
2,733
3,030
+ 10.9%
1,885
2,135
+ 13.3%
848
895
+ 5.5%
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 | 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 2-2011
2-2011
2-2011
2-2012 159
218 199 164
109
By Property Type
By Bedroom Count
2-2012
130
122
137
120
125
129
2-2012 138
162
137 136
135
149
128
83
128
+ 31.0%
+ 6.4%
- 6.3%
- 9.1%
+ 9.5%
+ 4.2%
+ 4.8%
+ 1.7%
+ 1.0%
+ 8.4%
$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
Single-Family Homes
2-2011
2-2012
Change
$100,000 and Below
83
109
$100,001 to $225,000
122
130
$225,001 to $375,000
137
$375,001 to $650,000
164
$650,001 and Above All Price Ranges
By Bedroom Count
2-2011
2-2012
Change
+ 31.0%
90
120
+ 6.4%
119
125
128
- 6.3%
121
149
- 9.1%
157
199
218
+ 9.5%
133
137
Condos 2-2011
2-2012
Change
+ 33.7%
80
102
+ 27.1%
+ 5.6%
131
143
+ 8.5%
112
- 7.9%
180
181
+ 0.3%
144
- 8.5%
190
170
- 10.3%
203
224
+ 10.5%
171
172
+ 0.3%
+ 3.1%
136
137
+ 1.0%
128
138
+ 8.4%
2-2011
2-2012
Change
2-2011
2-2012
Change
2-2011
2-2012
Change
2 Bedrooms or Less
120
125
+ 4.2%
121
104
- 13.9%
120
140
+ 16.6%
3 Bedrooms
129
135
+ 4.8%
124
135
+ 9.1%
155
133
- 14.4%
4 Bedrooms or More
159
162
+ 1.7%
159
162
+ 2.1%
200
148
- 25.6%
All Bedroom Counts
133
137
+ 3.1%
136
137
+ 1.0%
128
138
+ 8.4%
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 | 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 2-2011
By Property Type 2-2011
2-2012
2-2012 $270,000
$480,000
$475,000
$233,700
$266,000
$232,515
$154,500 $265,000 $159,000
$271,940
$137,000
$160,000
+ 0.6%
+ 2.6%
2 Bedrooms or Less
3 Bedrooms
- 1.0%
- 0.5%
4 Bedrooms or More
All Properties By Bedroom Count
- 1.5%
All Properties
Single-Family Homes
Single-Family Homes
- 11.3% Condos
Condos
2-2011
2-2012
Change
2-2011
2-2012
Change
2-2011
2-2012
Change
2 Bedrooms or Less
$159,000
$160,000
+ 0.6%
$180,000
$185,000
+ 2.8%
$124,000
$108,000
- 12.9%
3 Bedrooms
$265,000
$271,940
+ 2.6%
$255,000
$267,098
+ 4.7%
$305,000
$280,000
- 8.2%
4 Bedrooms or More
$480,000
$475,000
- 1.0%
$477,500
$475,000
- 0.5%
$857,500
$500,000
- 41.7%
All Bedroom Counts
$233,700
$232,515
- 0.5%
$270,000
$266,000
- 1.5%
$154,500
$137,000
- 11.3%
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 2-2011
By Property Type
By Bedroom Count
2-2012
2-2011
94.6% 93.8%
2-2012 94.2%
94.2%
94.9% 94.4% 93.6%
2-2011
2-2012
93.9% 93.7% 93.5%
93.9%
92.9%
93.6%
93.7%
93.4% 93.5%
91.8%
92.9%
93.3%
91.1%
- 0.7%
+ 0.5%
+ 0.9%
- 0.2%
- 0.8%
+ 0.1%
+ 0.4%
- 0.2%
+ 0.4%
- 0.5%
$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
2-2011
2-2012
$100,000 and Below
93.6%
$100,001 to $225,000
94.4%
$225,001 to $375,000 $375,001 to $650,000
Single-Family Homes
Condos
Change
2-2011
2-2012
Change
2-2011
2-2012
Change
92.9%
- 0.7%
91.2%
92.5%
+ 1.5%
94.8%
93.2%
- 1.7%
94.9%
+ 0.5%
94.9%
95.3%
+ 0.3%
92.8%
93.8%
+ 1.0%
93.8%
94.6%
+ 0.9%
94.5%
95.5%
+ 1.0%
91.7%
91.8%
+ 0.1%
93.7%
93.5%
- 0.2%
94.0%
93.7%
- 0.4%
92.6%
92.9%
+ 0.4%
$650,001 and Above
91.8%
91.1%
- 0.8%
91.7%
91.3%
- 0.5%
93.1%
90.1%
- 3.2%
All Price Ranges
93.7%
93.8%
+ 0.1%
93.9%
94.2%
+ 0.4%
93.4%
92.9%
- 0.5%
By Bedroom Count
2-2011
2-2012
Change
2-2011
2-2012
Change
2-2011
2-2012
Change
2 Bedrooms or Less
93.6%
93.7%
+ 0.1%
93.6%
95.0%
+ 1.5%
93.6%
92.8%
- 0.9%
3 Bedrooms
93.9%
94.2%
+ 0.4%
94.2%
94.5%
+ 0.3%
92.2%
92.9%
+ 0.8%
4 Bedrooms or More
93.5%
93.3%
- 0.2%
93.5%
93.3%
- 0.2%
88.3%
91.5%
+ 3.7%
All Bedroom Counts
93.7%
93.8%
+ 0.1%
93.9%
94.2%
+ 0.4%
93.4%
92.9%
- 0.5%
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 2-2011
By Property Type
By Bedroom Count
2-2012
2-2011 756 698
692 616
740
1,252
678
667
579
2-2011
2-2012
2,187 1,081
995
2-2012
1,852 947
829
829 1,017
318
904
216
- 32.1%
- 18.5%
- 16.3%
- 4.4%
- 8.4%
- 16.7%
- 13.7%
- 12.5%
- 15.3%
- 11.1%
$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
2-2011
2-2012
Change
2-2011
$100,000 and Below
318
216
- 32.1%
$100,001 to $225,000
756
616
- 18.5%
$225,001 to $375,000
692
579
$375,001 to $650,000
698
667
$650,001 and Above
740
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
Condos
2-2012
Change
2-2011
2-2012
Change
140
84
- 40.0%
178
132
- 25.8%
544
409
- 24.8%
212
207
- 2.4%
- 16.3%
407
328
- 19.4%
285
251
- 11.9%
- 4.4%
458
452
- 1.3%
240
215
- 10.4%
678
- 8.4%
638
579
- 9.2%
102
99
- 2.9%
3,204
2,756
- 14.0%
2,187
1,852
- 15.3%
1,017
904
- 11.1%
2-2011
2-2012
Change
2-2011
2-2012
Change
2-2011
2-2012
Change
995
829
- 16.7%
280
214
- 23.6%
715
615
- 14.0%
1,252
1,081
- 13.7%
986
837
- 15.1%
266
244
- 8.3%
4 Bedrooms or More
947
829
- 12.5%
920
799
- 13.2%
27
30
+ 11.1%
All Bedroom Counts
3,204
2,756
- 14.0%
2,187
1,852
- 15.3%
1,017
904
- 11.1%
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 2-2011
By Property Type
By Bedroom Count
2-2012
2-2011
2-2012
2-2011
12.1
14.4
13.9
24.1
10.4
12.3 16.4 13.2
12.1 8.5
7.1
14.4
13.9
17.2
29.2
2-2012
10.4 9.1
14.7
9.8
4.6
- 35.3%
- 30.1%
- 25.8%
- 10.1%
- 17.6%
- 25.6%
- 24.7%
- 16.0%
- 25.2%
- 15.8%
$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
Single-Family Homes
2-2011
2-2012
Change
$100,000 and Below
7.1
4.6
$100,001 to $225,000
12.1
8.5
$225,001 to $375,000
13.2
$375,001 to $650,000
16.4
$650,001 and Above
29.2
All Price Ranges
By Bedroom Count
2-2011
2-2012
Change
- 35.3%
9.1
4.5
- 51.2%
- 30.1%
11.5
7.5
- 34.7%
9.8
- 25.8%
10.5
7.5
- 28.9%
14.7
- 10.1%
13.6
12.5
- 7.9%
24.1
- 17.6%
29.1
23.6
14.1
10.9
- 22.4%
13.9
Condos 2-2011
2-2012
Change
6.0
4.7
- 22.6%
14.1
11.4
- 19.4%
20.7
16.5
- 20.6%
26.7
23.2
- 12.8%
- 18.8%
29.9
27.0
- 9.6%
10.4
- 25.2%
14.4
12.1
- 15.8%
2-2011
2-2012
Change
2-2011
2-2012
Change
2-2011
2-2012
Change
2 Bedrooms or Less
12.3
9.1
- 25.6%
10.9
6.1
- 44.0%
12.9
11.0
- 14.5%
3 Bedrooms
13.9
10.4
- 24.7%
12.9
9.7
- 24.5%
19.3
13.9
- 27.9%
4 Bedrooms or More
17.2
14.4
- 16.0%
16.8
14.1
- 16.1%
22.5
24.5
+ 9.1%
All Bedroom Counts
14.1
10.9
- 22.4%
13.9
10.4
- 25.2%
14.4
12.1
- 15.8%
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 | 7