Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
March 2014
Quick Facts
Market-wide numbers are well and good, but they don't always tell the full story. Breaking down the data to show activity by price range, property type or construction status can often lead to more meaningful insights. F the h 12-month 12 h period i d spanning i A h hM h 2014 For Aprilil 2013 through March 2014, Pending Sales in the Hilton Head region were up 6.4 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 21.6 percent. The overall Median Sales Price was up 13.6 percent to $259,250. The property type with the largest price gain was the Condo segment, where prices increased 13.6 percent to $190,000. 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 170 days. Market-wide, inventory levels were down 8.2 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 6.6 percent. That amounts to 7.7 months supply for SingleFamily homes and 9.8 months supply for Condos.
+ 21.6%
+ 19.8%
+ 9.9%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$375,001 to $650,000
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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Data is Copyright 息 2014 All Rights Reserved. MLS 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 3-2013
By Bedroom Count
3-2014
3-2013
1,108 1,113
By Property Type 3-2013
3-2014
2,786
1,622
1,041
2,536
1,485
911
1,290 771
3-2014
1,225
634
901
537
752
450 343
997
384
973
- 16.2%
+ 0.5%
+ 14.3%
+ 21.6%
+ 12.0%
- 5.0%
+ 9.2%
+ 19.8%
+ 9.9%
- 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 $100,000 and Below
3-2013
Single-Family Homes
3-2014
Change
3-2013
Condos
3-2014
Change
3-2013
3-2014
Change
537
450
- 16.2%
228
184
- 19.3%
309
266
- 13.9%
$100,001 to $225,000
1,108
1,113
+ 0.5%
813
849
+ 4.4%
295
264
- 10.5%
$225,001 to $375,000
911
1,041
+ 14.3%
685
785
+ 14.6%
226
256
+ 13.3%
$375,001 to $650,000
634
771
+ 21.6%
515
630
+ 22.3%
119
141
+ 18.5%
$650,001 and Above
343
384
+ 12.0%
295
338
+ 14.6%
48
46
- 4.2%
3,533
3,759
+ 6.4%
2,536
2,786
+ 9.9%
997
973
- 2.4%
All Price Ranges
By Bedroom Count
3-2013
3-2014
Change
3-2013
3-2014
Change
3-2013
3-2014
Change
2 Bedrooms or Less
1,290
1,225
- 5.0%
539
508
- 5.8%
751
717
- 4.5%
3 Bedrooms
1,485
1,622
+ 9.2%
1,258
1,399
+ 11.2%
227
223
- 1.8%
4 Bedrooms or More
752
901
+ 19.8%
738
879
+ 19.1%
14
22
+ 57.1%
All Bedroom Counts
3,533
3,759
+ 6.4%
2,536
2,786
+ 9.9%
997
973
- 2.4%
Data is Copyright © 2014 All Rights Reserved. MLS 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 | 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 3-2013
By Bedroom Count
3-2014
3-2013
By Property Type 3-2013
3-2014
3-2014
189 159
170 140 120 89
117
113 109
138 146
154
108
118 105
134
120
106
96
96
+ 7.6%
- 20.0%
- 6.3%
- 9.1%
- 9.8%
- 7.2%
- 9.6%
- 8.4%
- 9.3%
- 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
Single-Family Homes
3-2013
3-2014
$100,000 and Below
89
96
$100,001 to $225,000
120
96
$225,001 to $375,000
117
109
- 6.3%
105
$375,001 to $650,000
154
140
- 9.1%
151
$650,001 and Above
189
170
- 9.8%
188
All Price Ranges
125
115
- 7.8%
By Bedroom Count
Change
Change
Condos
3-2013
3-2014
3-2013
3-2014
Change
+ 7.6%
90
97
+ 8.2%
88
95
+ 7.2%
- 20.0%
104
83
- 20.1%
162
135
- 16.5%
95
- 9.4%
154
154
- 0.2%
135
- 10.9%
170
167
- 1.7%
173
- 7.6%
198
152
- 23.2%
120
108
- 9.3%
138
134
- 3.3%
3-2013
3-2014
Change
3-2013
3-2014
Change
3-2013
3-2014
Change
2 Bedrooms or Less
113
105
- 7.2%
80
69
- 14.0%
137
131
- 3.8%
3 Bedrooms
118
106
- 9.6%
114
102
- 11.0%
136
134
- 2.0%
4 Bedrooms or More
159
146
- 8.4%
158
145
- 8.4%
233
202
- 13.7%
All Bedroom Counts
125
115
- 7.8%
120
108
- 9.3%
138
134
- 3.3%
Data is Copyright © 2014 All Rights Reserved. MLS 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 | 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 3-2013
By Property Type 3-2013
3-2014
3-2014
$280,000 $259,250 $476,366 $433,500
$252,000
$228,125 $190,000 $167,250
$264,500 $170,000
$293,438
$180,000
+ 5.9%
+ 10.9%
2 Bedrooms or Less
3 Bedrooms
+ 9.9%
+ 13.6%
4 Bedrooms or More
All Properties By Bedroom Count
+ 11.1%
All Properties p
Single-Family g y Homes
Single-Family Homes
+ 13.6% Condos
Condos
3-2013
3-2014
Change
3-2013
3-2014
Change
3-2013
3-2014
Change
2 Bedrooms or Less
$170,000
$180,000
+ 5.9%
$186,000
$197,000
+ 5.9%
$140,000
$152,000
+ 8.6%
3 Bedrooms
$264,500
$293,438
+ 10.9%
$262,265
$285,000
+ 8.7%
$275,000
$323,000
+ 17.5%
4 Bedrooms or More
$433,500
$476,366
+ 9.9%
$429,500
$477,231
+ 11.1%
$675,000
$445,000
- 34.1%
All Bedroom Counts
$228,125
$259,250
+ 13.6%
$252,000
$280,000
+ 11.1%
$167,250
$190,000
+ 13.6%
Data is Copyright © 2014 All Rights Reserved. MLS 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 | 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 3-2013
By Bedroom Count
3-2014
3-2013
95.6%
3-2013 95.5%
96.3%
96.0%
By Property Type
3-2014
95.8%
95.6%
95.3%
95.1%
94.7%
3-2014
95.2% 95.2%
94.2% 95.0%
93.2% 92.5% 92.1%
94.0%
94.8%
93.8%
94.7%
- 1.6%
+ 0.5%
+ 0.8%
+ 0.9%
+ 0.4%
+ 0.2%
+ 0.3%
+ 0.5%
+ 0.5%
- 0.2%
$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
3-2013
3-2014
Single-Family Homes Change
3-2013
3-2014
Change
Condos 3-2013
3-2014
Change
$100,000 and Below
94.7%
93.2%
- 1.6%
94.6%
93.5%
- 1.1%
94.9%
93.0%
- 1.9%
$100,001 to $225,000
95.6%
96.0%
+ 0.5%
96.1%
96.7%
+ 0.7%
94.1%
93.9%
- 0.3%
$225,001 to $375,000
95.6%
96.3%
+ 0.8%
96.3%
96.9%
+ 0.6%
93.4%
94.4%
+ 1.1%
$375,001 to $650,000
94.2%
95.1%
+ 0.9%
94.4%
95.3%
+ 1.0%
93.4%
94.3%
+ 0.9%
$650,001 and Above
92.1%
92.5%
+ 0.4%
92.2%
92.4%
+ 0.2%
91.4%
93.4%
+ 2.2%
All Price Ranges
94.9%
95.3%
+ 0.3%
95.3%
95.8%
+ 0.5%
94.0%
93.8%
- 0.2%
By Bedroom Count
3-2013
3-2014
Change
3-2013
3-2014
Change
3-2013
3-2014
Change
2 Bedrooms or Less
94.8%
95.0%
+ 0.2%
96.0%
96.6%
+ 0.6%
93.9%
93.8%
- 0.1%
3 Bedrooms
95.2%
95.5%
+ 0.3%
95.3%
95.9%
+ 0.6%
94.9%
93.6%
- 1.3%
4 Bedrooms or More
94.7%
95.2%
+ 0.5%
94.8%
95.2%
+ 0.4%
90.3%
94.1%
+ 4.3%
All Bedroom Counts
94.9%
95.3%
+ 0.3%
95.3%
95.8%
+ 0.5%
94.0%
93.8%
- 0.2%
Data is Copyright © 2014 All Rights Reserved. MLS 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 Bedroom Count
By Price Range 3-2013
3-2013
By Property Type
3-2014
3-2013
3-2014
626
616
647
640
639
584
1,903
1,072
749
3-2014
1,778
964 857
857
889
706 449 898 273
792
148
- 45.8%
- 27.1%
- 6.7%
- 1.1%
+ 17.2%
- 17.6%
- 10.1%
+ 3.7%
- 6.6%
- 11.8%
$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
3-2013
3-2014
Single-Family Homes Change
3-2013
3-2014
Change
Condos 3-2013
3-2014
Change
$100,000 and Below
273
148
- 45.8%
108
56
- 48.1%
165
92
- 44.2%
$100,001 to $225,000
616
449
- 27.1%
377
246
- 34.7%
239
203
- 15.1%
$225,001 to $375,000
626
584
- 6.7%
372
350
- 5.9%
254
234
- 7.9%
$375,001 to $650,000
647
640
- 1.1%
476
455
- 4.4%
171
185
+ 8.2%
$650,001 and Above
639
749
+ 17.2%
570
671
+ 17.7%
69
78
+ 13.0%
2,801
2,570
- 8.2%
1,903
1,778
- 6.6%
898
792
- 11.8%
3-2013
3-2014
Change
3-2013
3-2014
Change
3-2013
3-2014
Change
857
706
- 17.6%
221
142
- 35.7%
636
564
- 11.3%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
1,072
964
- 10.1%
856
769
- 10.2%
216
195
- 9.7%
4 Bedrooms or More
857
889
+ 3.7%
826
866
+ 4.8%
31
23
- 25.8%
All Bedroom Counts
2,801
2,570
- 8.2%
1,903
1,778
- 6.6%
898
792
- 11.8%
Data is Copyright © 2014 All Rights Reserved. MLS 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 | 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 3-2013
By Bedroom Count
3-2014
3-2013
22.4
By Property Type
3-2014
3-2013
3-2014
23.4
10.8
13.7
9.8 11.8
9.0 7.7
8.7
8.0
12.2
6.9
10.0
7.1
8.2 6.7
6.7
6.1
4.8
3.9
- 35.3%
- 27.4%
- 18.4%
- 18.7%
+ 4.7%
- 13.2%
- 17.7%
- 13.4%
- 15.0%
- 9.6%
$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
3-2013
3-2014
Single-Family Homes Change
3-2013
3-2014
Change
Condos 3-2013
3-2014
Change
$100,000 and Below
6.1
3.9
- 35.3%
5.7
3.7
- 35.7%
6.4
4.2
- 35.2%
$100,001 to $225,000
6.7
4.8
- 27.4%
5.6
3.5
- 37.5%
9.7
9.2
- 5.1% - 18.7%
$225,001 to $375,000
8.2
6.7
- 18.4%
6.5
5.4
- 17.9%
13.5
11.0
$375,001 to $650,000
12.2
10.0
- 18.7%
11.1
8.7
- 21.9%
17.2
15.7
- 8.7%
$650,001 and Above
22.4
23.4
+ 4.7%
23.2
23.8
+ 2.7%
17.3
20.3
+ 18.0%
9.5
8.2
- 13.8%
9.0
7.7
- 15.0%
10.8
9.8
- 9.6%
3-2013
3-2014
Change
3-2013
3-2014
Change
3-2013
3-2014
Change
8.0
6.9
- 13.2%
4.9
3.4
- 31.8%
10.2
9.4
- 7.1%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
8.7
7.1
- 17.7%
8.2
6.6
- 19.2%
11.4
10.5
- 8.1%
4 Bedrooms or More
13.7
11.8
- 13.4%
13.4
11.8
- 12.0%
19.9
9.4
- 52.8%
All Bedroom Counts
9.5
8.2
- 13.8%
9.0
7.7
- 15.0%
10.8
9.8
- 9.6%
Data is Copyright © 2014 All Rights Reserved. MLS 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 | 7