Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
July 2013
Quick Facts
Soon enough, recent price gains should unlock more inventory so that buyers have more choices. Eventually, housing recovery will be referred to as simply housing. For the 12-month period spanning August 2012 through July 2013, P Pending Sales Hilton H Head 18.9 h hJ l 2013 di S l iin the h Hil d region i were up 18 9 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 32.8 percent. The overall Median Sales Price was up 7.1 percent to $244,000. The property type with the largest price gain was the Condo segment, where prices increased 13.2 percent to $180,000. The price range that tended to sell the quickest was the $100,000 and Below range at 96 days; the price range that tended to sell the slowest was the $650,001 and Above range at 184 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 13.3 percent. That amounts to 7.2 months supply for Single-Family homes and 9.3 months supply for Condos.
+ 32.8%
+ 25.4%
+ 26.0%
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 7-2012
By Bedroom Count
7-2013
7-2012
7-2012
1,127
7-2013 2,766
1,627 1,005
957
1,318
2,196
1,297
1,190
757 571
By Property Type
7-2013
723 575
534
828 686 982
391
1,014
318
- 6.5%
+ 17.8%
+ 32.8%
+ 25.7%
+ 23.0%
+ 10.8%
+ 25.4%
+ 20.7%
+ 26.0%
+ 3.3%
$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
7-2012
7-2013
Single-Family Homes Change
7-2012
7-2013
Change
Condos 7-2012
7-2013
Change
$100,000 and Below
571
534
- 6.5%
236
222
- 5.9%
335
312
- 6.9%
$100,001 to $225,000
957
1,127
+ 17.8%
679
867
+ 27.7%
278
260
- 6.5%
$225,001 to $375,000
757
1,005
+ 32.8%
551
761
+ 38.1%
206
244
+ 18.4%
$375,001 to $650,000
575
723
+ 25.7%
455
579
+ 27.3%
120
144
+ 20.0%
$650,001 and Above
318
391
+ 23.0%
275
337
+ 22.5%
43
54
+ 25.6%
3,178
3,780
+ 18.9%
2,196
2,766
+ 26.0%
982
1,014
+ 3.3%
All Price Ranges
By Bedroom Count
7-2012
7-2013
Change
7-2012
7-2013
Change
7-2012
7-2013
Change
2 Bedrooms or Less
1,190
1,318
+ 10.8%
449
574
+ 27.8%
741
744
+ 0.4%
3 Bedrooms
1,297
1,627
+ 25.4%
1,072
1,386
+ 29.3%
225
241
+ 7.1%
4 Bedrooms or More
686
828
+ 20.7%
674
805
+ 19.4%
12
23
+ 91.7%
All Bedroom Counts
3,178
3,780
+ 18.9%
2,196
2,766
+ 26.0%
982
1,014
+ 3.3%
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 | 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 7-2012
By Bedroom Count
7-2013
7-2012
By Property Type 7-2012
7-2013
7-2013
165 206
130
184 156
124
121
116
106
146
129
125 111 89
137
136
156
111
96
115
+ 7.4%
- 11.7%
- 14.4%
- 6.3%
- 10.6%
- 12.8%
- 6.5%
- 5.6%
- 11.4%
+ 1.1%
$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
7-2012
7-2013
Single-Family Homes Change
7-2012
7-2013
Change
Condos 7-2012
7-2013
Change
$100,000 and Below
89
96
+ 7.4%
99
92
- 7.4%
82
99
+ 20.6%
$100,001 to $225,000
125
111
- 11.7%
117
97
- 16.8%
146
154
+ 5.3%
$225,001 to $375,000
129
111
- 14.4%
114
98
- 14.0%
176
150
- 14.4%
$375,001 to $650,000
156
146
- 6.3%
149
143
- 4.1%
186
161
- 13.3%
$650,001 and Above
206
184
- 10.6%
206
186
- 9.5%
207
171
- 17.1%
All Price Ranges
132
121
- 8.1%
130
115
- 11.4%
136
137
+ 1.1%
By Bedroom Count
7-2012
7-2013
Change
7-2012
7-2013
Change
7-2012
7-2013
Change
2 Bedrooms or Less
121
106
- 12.8%
99
71
- 28.9%
136
133
- 2.6%
3 Bedrooms
124
116
- 6.5%
122
111
- 9.7%
129
144
+ 11.6%
4 Bedrooms or More
165
156
- 5.6%
164
155
- 5.6%
236
186
- 21.2%
All Bedroom Counts
132
121
- 8.1%
130
115
- 11.4%
136
137
+ 1.1%
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 | 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 7-2012
By Property Type 7-2012
7-2013
7-2013
$475,000 $450,000
$260,145
$265,000
$244,000 $227,815
$272,000
$164,350
$180,000
$282,900
$159,000
$175,000
+ 6.5%
+ 4.0%
2 Bedrooms or Less
3 Bedrooms
- 5.3%
+ 7.1%
4 Bedrooms or More
All Properties By Bedroom Count
+ 1.9%
All Properties p
Single-Family g y Homes
Single-Family Homes
+ 13.2% Condos
Condos
7-2012
7-2013
Change
7-2012
7-2013
Change
7-2012
7-2013
Change
2 Bedrooms or Less
$164,350
$175,000
+ 6.5%
$185,000
$189,750
+ 2.6%
$121,500
$150,500
+ 23.9%
3 Bedrooms
$272,000
$282,900
+ 4.0%
$267,500
$280,000
+ 4.7%
$292,500
$309,000
+ 5.6%
4 Bedrooms or More
$475,000
$450,000
- 5.3%
$475,000
$455,000
- 4.2%
$473,500
$420,000
- 11.3%
All Bedroom Counts
$227,815
$244,000
+ 7.1%
$260,145
$265,000
+ 1.9%
$159,000
$180,000
+ 13.2%
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 | 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 7-2012
By Bedroom Count
7-2013
7-2012
7-2012
7-2013 95.6%
96.0%
95.9%
95.5%
95.2% 94.8%
94.7%
By Property Type
7-2013
94.6%
95.0%
95.0%
93.8%
93.7%
94.5%
94.6%
94.1% 92.1%
94.2% 93.5%
91.2%
93.6%
+ 1.1%
+ 0.7%
+ 1.3%
+ 0.9%
+ 0.9%
+ 0.9%
+ 0.9%
+ 1.5%
+ 1.1%
+ 0.7%
$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
7-2012
7-2013
Single-Family Homes Change
7-2012
Condos
7-2013
Change
7-2012
7-2013
Change
$100,000 and Below
93.7%
94.7%
+ 1.1%
93.5%
94.5%
+ 1.1%
93.8%
94.8%
+ 1.1%
$100,001 to $225,000
95.2%
95.9%
+ 0.7%
95.6%
96.5%
+ 0.9%
94.3%
94.2%
- 0.1%
$225,001 to $375,000
94.8%
96.0%
+ 1.3%
95.5%
96.7%
+ 1.2%
92.6%
93.9%
+ 1.4%
$375,001 to $650,000
93.8%
94.6%
+ 0.9%
93.9%
94.8%
+ 0.9%
93.2%
93.8%
+ 0.7%
$650,001 and Above
91.2%
92.1%
+ 0.9%
91.3%
92.2%
+ 1.0%
90.6%
91.2%
+ 0.7%
All Price Ranges
94.2%
95.2%
+ 1.0%
94.5%
95.6%
+ 1.1%
93.5%
94.1%
+ 0.7%
By Bedroom Count
7-2012
7-2013
Change
7-2012
7-2013
Change
7-2012
7-2013
Change
2 Bedrooms or Less
94.2%
95.0%
+ 0.9%
95.3%
96.4%
+ 1.1%
93.4%
94.0%
+ 0.6%
3 Bedrooms
94.6%
95.5%
+ 0.9%
94.8%
95.6%
+ 0.9%
93.7%
94.7%
+ 1.1%
4 Bedrooms or More
93.6%
95.0%
+ 1.5%
93.6%
95.1%
+ 1.5%
91.2%
92.8%
+ 1.7%
All Bedroom Counts
94.2%
95.2%
+ 1.0%
94.5%
95.6%
+ 1.1%
93.5%
94.1%
+ 0.7%
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 7-2012
By Bedroom Count
7-2013
7-2012
By Property Type 7-2012
7-2013
7-2013
1,120 684 642
685
640
633
485
1,986
959 586
894
857
510
1,652
757
704
902
289
782
168
- 41.9%
- 24.5%
- 19.4%
- 8.4%
+ 0.1%
- 17.9%
- 14.4%
- 15.3%
- 16.8%
- 13.3%
$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
7-2012
7-2013
Change
7-2012
$100,000 and Below
289
168
- 41.9%
$100,001 to $225,000
642
485
- 24.5%
$225,001 to $375,000
633
510
$375,001 to $650,000
640
586
$650,001 and Above
684
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
Condos
7-2013
Change
7-2012
7-2013
Change
114
69
- 39.5%
421
267
- 36.6%
175
99
- 43.4%
221
218
- 1.4%
- 19.4%
392
291
- 8.4%
467
421
- 25.8%
241
219
- 9.1%
- 9.9%
173
165
685
+ 0.1%
592
- 4.6%
604
+ 2.0%
92
81
- 12.0%
2,888
2,434
- 15.7%
1,986
1,652
- 16.8%
902
782
- 13.3%
7-2012
7-2013
857
704
Change
7-2012
7-2013
Change
7-2012
7-2013
Change
- 17.9%
227
151
- 33.5%
630
553
- 12.2%
1,120
959
- 14.4%
892
767
- 14.0%
228
192
- 15.8%
4 Bedrooms or More
894
757
- 15.3%
866
734
- 15.2%
28
23
- 17.9%
All Bedroom Counts
2,888
2,434
- 15.7%
1,986
1,652
- 16.8%
902
782
- 13.3%
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 | 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 7-2012
By Bedroom Count
7-2013
7-2012
By Property Type
7-2013
7-2012
11.0
10.9
15.6
25.8
7-2013
9.3 21.0 11.0
10.4 8.6
13.4 10.0
7.2
6.4
9.7
7.1
8.1 6.1
5.2
3.8
6.1
- 37.8%
- 35.9%
- 39.3%
- 27.2%
- 18.6%
- 25.8%
- 31.7%
- 29.8%
- 34.0%
- 16.0%
$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
7-2012
7-2013
Single-Family Homes Change
7-2012
7-2013
Change
Condos 7-2012
7-2013
Change
$100,000 and Below
6.1
3.8
- 37.8%
5.8
3.7
- 35.7%
6.3
3.8
- 39.3%
$100,001 to $225,000
8.1
5.2
- 35.9%
7.4
3.7
- 50.3%
9.5
10.1
+ 5.5%
$225,001 to $375,000
10.0
6.1
- 39.3%
8.5
4.6
- 46.3%
14.0
10.8
- 23.3%
$375,001 to $650,000
13.4
9.7
- 27.2%
12.3
8.7
- 29.2%
17.3
13.8
- 20.5%
$650,001 and Above
25.8
21.0
- 18.6%
25.8
21.5
- 16.7%
25.7
18.0
- 29.9%
All Price Ranges
10.9
7.7
- 29.1%
10.9
7.2
- 34.0%
11.0
9.3
- 16.0%
By Bedroom Count
7-2012
7-2013
Change
7-2012
7-2013
Change
7-2012
7-2013
Change
2 Bedrooms or Less
8.6
6.4
- 25.8%
6.1
3.2
- 48.0%
10.2
8.9
- 12.6%
3 Bedrooms
10.4
7.1
- 31.7%
10.0
6.6
- 33.5%
12.2
9.6
- 21.4%
4 Bedrooms or More
15.6
11.0
- 29.8%
15.4
10.9
- 29.0%
21.0
10.0
- 52.4%
All Bedroom Counts
10.9
7.7
- 29.1%
10.9
7.2
- 34.0%
11.0
9.3
- 16.0%
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