Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
August 2013
Quick Facts
Short inventory supplies coupled with resilient consumer demand continue to propel most markets higher. Soon-to-be buyers are monitoring seller activity for signs of additional product coming down the i li F the h 12-month 12 h period i d spanning i S b 2012 through h h pipeline. For September August 2013, Pending Sales in the Hilton Head region were up 16.2 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 28.8 percent. The overall Median Sales Price was up 11.0 percent to $249,783. The property type with the largest price gain was the Condo segment, where prices increased 16.1 percent to $180,000. The price range that tended to sell the quickest was the $100,000 and Below range at 102 days; the price range that tended to sell the slowest was the $650,001 and Above range at 183 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 14.9 percent. That amounts to 7.1 months supply for Single-Family homes and 9.1 months supply for Condos.
+ 28.8%
+ 23.7%
+ 22.7%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$225,001 to $375,000
4 Bedrooms or More
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 8-2012
By Bedroom Count
8-2013
8-2012
By Property Type 8-2012
8-2013
1,130
8-2013 2,767
1,625 1,002
994
1,227
778
1,314
2,256
1,348
739 584
579
839
520 678
394
1,002
1,018
323
- 10.2%
+ 13.7%
+ 28.8%
+ 26.5%
+ 22.0%
+ 7.1%
+ 20.5%
+ 23.7%
+ 22.7%
+ 1.6%
$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
8-2012
8-2013
Single-Family Homes Change
8-2012
8-2013
Condos
Change
8-2012
8-2013
Change
$100,000 and Below
579
520
- 10.2%
243
211
- 13.2%
336
309
- 8.0%
$100,001 to $225,000
994
1,130
+ 13.7%
708
866
+ 22.3%
286
264
- 7.7%
$225,001 to $375,000
778
1,002
+ 28.8%
564
760
+ 34.8%
214
242
+ 13.1%
$375,001 to $650,000
584
739
+ 26.5%
464
589
+ 26.9%
120
150
+ 25.0%
$650,001 and Above
323
394
+ 22.0%
277
341
+ 23.1%
46
53
+ 15.2%
3,258
3,785
+ 16.2%
2,256
2,767
+ 22.7%
1,002
1,018
+ 1.6%
All Price Ranges
By Bedroom Count
8-2012
8-2013
Change
8-2012
8-2013
Change
8-2012
8-2013
Change
2 Bedrooms or Less
1,227
1,314
+ 7.1%
464
569
+ 22.6%
763
745
- 2.4%
3 Bedrooms
1,348
1,625
+ 20.5%
1,125
1,383
+ 22.9%
223
242
+ 8.5%
4 Bedrooms or More
678
839
+ 23.7%
666
814
+ 22.2%
12
25
+ 108.3%
All Bedroom Counts
3,258
3,785
+ 16.2%
2,256
2,767
+ 22.7%
1,002
1,018
+ 1.6%
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 8-2012
By Bedroom Count
8-2013
8-2012
By Property Type 8-2012
8-2013
8-2013 138
137
166 157
206
129
183 122
122
160 146
115
105
130
125 110
102
106
115
87
+ 16.9%
- 12.0%
- 18.4%
- 8.6%
- 11.1%
- 14.4%
- 5.8%
- 5.6%
- 11.0%
+ 0.6%
$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
8-2012
8-2013
Change
$100,000 and Below
87
102
$100,001 to $225,000
125
110
$225,001 to $375,000
130
$375,001 to $650,000
160
$650,001 and Above All Price Ranges
By Bedroom Count
8-2012
8-2013
+ 16.9%
95
102
- 12.0%
115
99
106
- 18.4%
114
94
146
- 8.6%
155
140
206
183
- 11.1%
207
132
121
- 7.9%
Change
Condos 8-2012
8-2013
Change
+ 6.4%
82
103
+ 25.8%
- 13.8%
151
147
- 2.8%
- 17.5%
182
144
- 20.8%
- 9.8%
180
175
- 2.6%
183
- 11.5%
198
181
- 8.3%
129
115
- 11.0%
137
138
+ 0.6%
8-2012
8-2013
Change
8-2012
8-2013
Change
8-2012
8-2013
Change
2 Bedrooms or Less
122
105
- 14.4%
100
70
- 30.1%
137
131
- 4.0%
3 Bedrooms
122
115
- 5.8%
121
110
- 9.1%
131
147
+ 12.4%
4 Bedrooms or More
166
157
- 5.6%
165
156
- 5.9%
236
206
- 13.0%
All Bedroom Counts
132
121
- 7.9%
129
115
- 11.0%
137
138
+ 0.6%
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 | 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 8-2012
By Property Type 8-2012
8-2013 $464,250
8-2013
$460,000 $249,783
$259,700
$268,615
$225,000
$266,555
$164,000
$180,000
$286,633 $155,000
$175,000
+ 6.7%
+ 7.5%
2 Bedrooms or Less
3 Bedrooms
- 0.9%
+ 11.0%
4 Bedrooms or More
All Properties By Bedroom Count
+ 3.4%
All Properties p
Single-Family g y Homes
Single-Family Homes
+ 16.1% Condos
Condos
8-2012
8-2013
Change
8-2012
8-2013
Change
8-2012
8-2013
Change
2 Bedrooms or Less
$164,000
$175,000
+ 6.7%
$185,000
$191,133
+ 3.3%
$121,250
$150,000
+ 23.7%
3 Bedrooms
$266,555
$286,633
+ 7.5%
$265,000
$284,720
+ 7.4%
$295,000
$307,000
+ 4.1%
4 Bedrooms or More
$464,250
$460,000
- 0.9%
$464,250
$461,250
- 0.6%
$473,500
$432,500
- 8.7%
All Bedroom Counts
$225,000
$249,783
+ 11.0%
$259,700
$268,615
+ 3.4%
$155,000
$180,000
+ 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 8-2012
By Bedroom Count
8-2013
8-2012
94.8%
8-2012
96.1%
95.9% 95.2%
By Property Type
8-2013
95.7%
95.5%
95.0%
95.1%
94.7%
8-2013
95.1%
93.8%
93.8%
94.6%
94.6% 92.3%
94.3%
94.2% 93.7%
90.9%
93.7%
+ 1.1%
+ 0.8%
+ 1.2%
+ 0.9%
+ 1.5%
+ 0.9%
+ 1.0%
+ 1.5%
+ 1.2%
+ 0.6%
$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
8-2012
8-2013
Single-Family Homes Change
8-2012
8-2013
Change
Condos 8-2012
8-2013
Change
$100,000 and Below
93.8%
94.8%
+ 1.1%
93.5%
94.6%
+ 1.2%
94.0%
94.9%
+ 0.9%
$100,001 to $225,000
95.2%
95.9%
+ 0.8%
95.6%
96.5%
+ 0.9%
94.2%
94.3%
+ 0.1%
$225,001 to $375,000
95.0%
96.1%
+ 1.2%
95.6%
96.8%
+ 1.3%
93.0%
94.0%
+ 1.1%
$375,001 to $650,000
93.8%
94.7%
+ 0.9%
93.9%
94.9%
+ 1.0%
93.3%
93.9%
+ 0.6%
$650,001 and Above
90.9%
92.3%
+ 1.5%
91.0%
92.3%
+ 1.4%
90.3%
92.2%
+ 2.1%
All Price Ranges
94.3%
95.3%
+ 1.0%
94.6%
95.7%
+ 1.2%
93.7%
94.2%
+ 0.6%
By Bedroom Count
8-2012
8-2013
Change
8-2012
8-2013
Change
8-2012
8-2013
Change
2 Bedrooms or Less
94.3%
95.1%
+ 0.9%
95.3%
96.5%
+ 1.2%
93.6%
94.1%
+ 0.5%
3 Bedrooms
94.6%
95.5%
+ 1.0%
94.7%
95.6%
+ 0.9%
93.7%
94.9%
+ 1.3%
4 Bedrooms or More
93.7%
95.1%
+ 1.5%
93.7%
95.1%
+ 1.5%
91.2%
92.8%
+ 1.7%
All Bedroom Counts
94.3%
95.3%
+ 1.0%
94.6%
95.7%
+ 1.2%
93.7%
94.2%
+ 0.6%
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 8-2012
By Bedroom Count
8-2013
8-2012
675
649
632
By Property Type 8-2012
8-2013 1,086
684
957
613 573
1,944 880
864
513 464
8-2013
1,632
744
686
904
279
769 167
- 40.1%
- 26.6%
- 21.0%
- 6.5%
+ 1.3%
- 20.6%
- 11.9%
- 15.5%
- 16.0%
- 14.9%
$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
8-2012
8-2013
Change
8-2012
$100,000 and Below
279
167
- 40.1%
$100,001 to $225,000
632
464
- 26.6%
$225,001 to $375,000
649
513
$375,001 to $650,000
613
573
$650,001 and Above
675
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
Condos
8-2013
Change
8-2012
8-2013
Change
105
65
- 38.1%
174
102
- 41.4%
402
259
- 35.6%
230
205
- 10.9%
- 21.0%
406
300
- 26.1%
243
213
- 12.3%
- 6.5%
449
404
- 10.0%
164
169
+ 3.0%
684
+ 1.3%
582
604
+ 3.8%
93
80
- 14.0%
2,848
2,401
- 15.7%
1,944
1,632
- 16.0%
904
769
- 14.9%
8-2012
8-2013
Change
8-2012
8-2013
Change
8-2012
8-2013
Change
864
686
- 20.6%
227
148
- 34.8%
637
538
- 15.5%
1,086
957
- 11.9%
864
762
- 11.8%
222
195
- 12.2%
4 Bedrooms or More
880
744
- 15.5%
851
722
- 15.2%
29
22
- 24.1%
All Bedroom Counts
2,848
2,401
- 15.7%
1,944
1,632
- 16.0%
904
769
- 14.9%
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 8-2012
By Bedroom Count
8-2013
8-2012
By Property Type
8-2013
8-2012
10.8
10.3
15.6
25.1
8-2013
9.1 20.8 7.1
10.6 9.7 8.4
12.6 10.0
6.3
9.3
7.1
7.6 5.8
4.9
3.9
6.1
- 33.4%
- 35.4%
- 38.6%
- 26.1%
- 16.9%
- 25.9%
- 26.9%
- 31.7%
- 31.6%
- 16.3%
$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
8-2012
8-2013
Single-Family Homes Change
8-2012
8-2013
Change
Condos 8-2012
8-2013
Change
$100,000 and Below
5.8
3.9
- 33.4%
5.2
3.7
- 28.7%
6.2
4.0
- 36.3%
$100,001 to $225,000
7.6
4.9
- 35.4%
6.8
3.6
- 47.3%
9.7
9.3
- 3.4%
$225,001 to $375,000
10.0
6.1
- 38.6%
8.6
4.7
- 45.2%
13.6
10.6
- 22.5%
$375,001 to $650,000
12.6
9.3
- 26.1%
11.6
8.2
- 29.1%
16.4
13.5
- 17.6%
$650,001 and Above
25.1
20.8
- 16.9%
25.2
21.3
- 15.7%
24.3
18.1
- 25.3%
All Price Ranges
10.5
7.6
- 27.4%
10.3
7.1
- 31.6%
10.8
9.1
- 16.3%
8-2012
8-2013
Change
8-2012
8-2013
Change
8-2012
8-2013
Change
8.4
6.3
- 25.9%
5.9
3.1
- 46.8%
10.0
8.7
- 13.5%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
9.7
7.1
- 26.9%
9.2
6.6
- 28.3%
11.9
9.7
- 19.1%
4 Bedrooms or More
15.6
10.6
- 31.7%
15.3
10.6
- 30.6%
21.8
8.8
- 59.5%
All Bedroom Counts
10.5
7.6
- 27.4%
10.3
7.1
- 31.6%
10.8
9.1
- 16.3%
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 | 7