Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
May 2014
Quick Facts
So how's the market? We've all heard it, but it's difficult to answer succinctly. The best answer may be "It depends." It's contingent upon area, market segment, time period, baseline period, which measures and more. For June 2013 through May 2014 2014, F the h 12-month 12 h period i d spanning i J h hM Pending Sales in the Hilton Head region were up 5.5 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 16.6 percent. The overall Median Sales Price was up 8.9 percent to $256,000. The property type with the largest price gain was the Single-Family segment, where prices increased 7.7 percent to $279,930. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 92 days; the price range that tended to sell the slowest was the $650,001 and Above range at 172 days. Market-wide, inventory levels were down 4.0 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 3.6 percent. That amounts to 7.8 months supply for SingleFamily homes and 10.8 months supply for Condos.
+ 16.6%
+ 19.6%
+ 8.2%
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 5-2013
By Bedroom Count
5-2014
5-2013
1,085 1,108
1,043
By Property Type 5-2013
5-2014
1,521
5-2014
2,791
1,584
2,579
919 1,263 1,233
771 661 523
920 769
456 370
979
375
962
- 12.8%
+ 2.1%
+ 13.5%
+ 16.6%
+ 1.4%
- 2.4%
+ 4.1%
+ 19.6%
+ 8.2%
- 1.7%
$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 $100,000 and Below $100,001 to $225,000
5-2013
Single-Family Homes
5-2014
Change
5-2013
5-2014
Change
Condos 5-2013
5-2014
Change
523
456
- 12.8%
217
183
- 15.7%
306
273
- 10.8%
1,085
1,108
+ 2.1%
818
840
+ 2.7%
267
268
+ 0.4% + 4.8%
$225,001 to $375,000
919
1,043
+ 13.5%
691
804
+ 16.4%
228
239
$375,001 to $650,000
661
771
+ 16.6%
534
634
+ 18.7%
127
137
+ 7.9%
$650,001 and Above
370
375
+ 1.4%
319
330
+ 3.4%
51
45
- 11.8%
3,558
3,753
+ 5.5%
2,579
2,791
+ 8.2%
979
962
- 1.7%
All Price Ranges
By Bedroom Count
5-2013
5-2014
Change
5-2013
5-2014
Change
5-2013
5-2014
Change
2 Bedrooms or Less
1,263
1,233
- 2.4%
533
517
- 3.0%
730
716
- 1.9%
3 Bedrooms
1,521
1,584
+ 4.1%
1,294
1,375
+ 6.3%
227
209
- 7.9%
4 Bedrooms or More
769
920
+ 19.6%
751
899
+ 19.7%
18
21
+ 16.7%
All Bedroom Counts
3,558
3,753
+ 5.5%
2,579
2,791
+ 8.2%
979
962
- 1.7%
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 5-2013
By Bedroom Count
5-2014
5-2013
182
5-2013
91
94
129
117 141
137 112
5-2014
133 159
172
151 114
By Property Type
5-2014
106
116 106
108
103
104
92
+ 3.0%
- 19.4%
- 3.5%
- 9.6%
- 5.8%
- 2.4%
- 10.6%
- 11.2%
- 9.4%
- 2.6%
$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
5-2013
5-2014
$100,000 and Below
91
94
$100,001 to $225,000
114
92
Single-Family Homes Change
Change
Condos
5-2013
5-2014
5-2013
5-2014
Change
+ 3.0%
95
100
+ 5.0%
88
90
+ 1.9%
- 19.4%
100
79
- 21.2%
150
131
- 12.9%
$225,001 to $375,000
112
108
- 3.5%
98
95
- 2.8%
153
149
- 2.3%
$375,001 to $650,000
151
137
- 9.6%
150
130
- 13.3%
157
170
+ 8.4%
$650,001 and Above
182
172
- 5.8%
185
176
- 5.1%
164
148
- 9.8%
All Price Ranges
122
112
- 7.7%
117
106
- 9.4%
133
129
- 2.6%
By Bedroom Count
5-2013
5-2014
Change
5-2013
5-2014
Change
5-2013
5-2014
Change
2 Bedrooms or Less
106
103
- 2.4%
75
69
- 8.3%
128
129
+ 0.3%
3 Bedrooms
116
104
- 10.6%
112
101
- 9.7%
141
123
- 12.8%
4 Bedrooms or More
159
141
- 11.2%
157
138
- 12.2%
212
236
+ 11.7%
All Bedroom Counts
122
112
- 7.7%
117
106
- 9.4%
133
129
- 2.6%
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 | 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 5-2013
By Property Type 5-2013
5-2014
$437,250
5-2014
$279,930
$458,250 $256,000
$260,000
$235,000
$275,000 $172,500
$171,250
$285,000
$176,000
$175,000
+ 1.4%
+ 3.6%
2 Bedrooms or Less
3 Bedrooms
+ 4.8%
+ 8.9%
4 Bedrooms or More
All Properties By Bedroom Count
+ 7.7%
All Properties p
Single-Family g y Homes
Single-Family Homes
+ 2.8% Condos
Condos
5-2013
5-2014
Change
5-2013
5-2014
Change
5-2013
5-2014
Change
2 Bedrooms or Less
$172,500
$175,000
+ 1.4%
$189,750
$195,000
+ 2.8%
$145,000
$146,875
+ 1.3%
3 Bedrooms
$275,000
$285,000
+ 3.6%
$275,000
$280,245
+ 1.9%
$295,000
$327,500
+ 11.0%
4 Bedrooms or More
$437,250
$458,250
+ 4.8%
$435,000
$456,951
+ 5.0%
$591,036
$535,000
- 9.5%
All Bedroom Counts
$235,000
$256,000
+ 8.9%
$260,000
$279,930
+ 7.7%
$171,250
$176,000
+ 2.8%
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 | 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 5-2013
By Bedroom Count
5-2014
5-2013
By Property Type 5-2013
5-2014
95.8%
95.6% 95.8%
96.0%
5-2014
96.3%
95.5%
95.8%
95.4% 95.1%
95.0% 94.4%
95.1%
92.9%
92.8%
94.2%
95.0%
95.0% 94.9%
93.6%
92.2%
- 2.3%
+ 0.2%
+ 0.5%
+ 0.7%
+ 0.7%
- 0.1%
+ 0.2%
+ 0.1%
+ 0.3%
- 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
5-2013
5-2014
Single-Family Homes Change
5-2013
5-2014
Condos
Change
5-2013
5-2014
Change
$100,000 and Below
95.0%
92.9%
- 2.3%
94.8%
93.4%
- 1.4%
95.3%
92.5%
- 2.9%
$100,001 to $225,000
95.8%
96.0%
+ 0.2%
96.4%
96.7%
+ 0.3%
94.1%
93.8%
- 0.3%
$225,001 to $375,000
95.8%
96.3%
+ 0.5%
96.6%
96.9%
+ 0.3%
93.5%
94.3%
+ 0.8%
$375,001 to $650,000
94.4%
95.1%
+ 0.7%
94.6%
95.2%
+ 0.7%
93.7%
94.2%
+ 0.5%
$650,001 and Above
92.2%
92.8%
+ 0.7%
92.2%
92.8%
+ 0.6%
92.1%
93.1%
+ 1.0%
All Price Ranges
95.2%
95.2%
+ 0.1%
95.5%
95.8%
+ 0.3%
94.2%
93.6%
- 0.7%
By Bedroom Count
5-2013
5-2014
Change
5-2013
5-2014
Change
5-2013
5-2014
Change
2 Bedrooms or Less
95.0%
94.9%
- 0.1%
96.3%
96.7%
+ 0.4%
94.1%
93.6%
- 0.5%
3 Bedrooms
95.4%
95.6%
+ 0.2%
95.4%
95.9%
+ 0.5%
95.0%
93.5%
- 1.6%
4 Bedrooms or More
95.0%
95.1%
+ 0.1%
95.1%
95.2%
+ 0.1%
90.9%
92.5%
+ 1.9%
All Bedroom Counts
95.2%
95.2%
+ 0.1%
95.5%
95.8%
+ 0.3%
94.2%
93.6%
- 0.7%
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 5-2013
5-2013
By Property Type
5-2014
5-2013
5-2014
1,084
751 638
613
629
650
664
1,886 993
642
861
836
793
5-2014
1,819
890
479 912
868
255 164
- 35.7%
- 24.9%
+ 2.6%
+ 2.2%
+ 17.0%
- 7.9%
- 8.4%
+ 6.5%
- 3.6%
- 4.8%
$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
5-2013
5-2014
Change
5-2013
$100,000 and Below
255
164
- 35.7%
$100,001 to $225,000
638
479
- 24.9%
$225,001 to $375,000
613
629
$375,001 to $650,000
650
664
$650,001 and Above
642
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
Condos
5-2014
Change
5-2013
5-2014
Change
106
59
- 44.3%
149
105
- 29.5%
384
257
- 33.1%
254
222
- 12.6%
+ 2.6%
357
359
+ 0.6%
256
270
+ 5.5%
+ 2.2%
466
470
+ 0.9%
184
194
+ 5.4%
751
+ 17.0%
573
674
+ 17.6%
69
77
+ 11.6%
2,798
2,687
- 4.0%
1,886
1,819
- 3.6%
912
868
- 4.8%
5-2013
5-2014
Change
5-2013
5-2014
Change
5-2013
5-2014
Change
861
793
- 7.9%
215
154
- 28.4%
646
639
- 1.1%
1,084
993
- 8.4%
867
793
- 8.5%
217
200
- 7.8%
4 Bedrooms or More
836
890
+ 6.5%
804
870
+ 8.2%
32
20
- 37.5%
All Bedroom Counts
2,798
2,687
- 4.0%
1,886
1,819
- 3.6%
912
868
- 4.8%
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 5-2013
By Bedroom Count
5-2014
5-2013
By Property Type
5-2014
5-2013
5-2014
11.2
13.0 8.8
20.8 8.2 11.8 5.9
8.0
7.1
10.8
11.6
24.0
7.8
8.6 7.7
7.5
10.3
7.2
5.2
4.3
- 26.2%
- 26.5%
- 9.6%
- 12.4%
+ 15.4%
- 5.7%
- 12.0%
- 11.0%
- 10.9%
- 3.1%
$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
5-2013
5-2014
$100,000 and Below
5.9
$100,001 to $225,000
7.1
Single-Family Homes Change
5-2013
5-2014
Change
4.3
- 26.2%
5.9
3.9
5.2
- 26.5%
5.6
3.7
Condos 5-2013
5-2014
Change
- 34.0%
5.8
4.6
- 21.0%
- 34.8%
11.4
9.9
- 12.9% + 0.6%
$225,001 to $375,000
8.0
7.2
- 9.6%
6.2
5.4
- 13.6%
13.5
13.6
$375,001 to $650,000
11.8
10.3
- 12.4%
10.5
8.9
- 15.0%
17.4
17.0
- 2.3%
$650,001 and Above
20.8
24.0
+ 15.4%
21.6
24.5
+ 13.7%
16.2
20.5
+ 26.5%
All Price Ranges
9.4
8.6
- 9.0%
8.8
7.8
- 10.9%
11.2
10.8
- 3.1%
5-2013
5-2014
Change
5-2013
5-2014
Change
5-2013
5-2014
Change
8.2
7.7
- 5.7%
4.8
3.6
- 26.2%
10.6
10.7
+ 0.9%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
8.6
7.5
- 12.0%
8.0
6.9
- 13.9%
11.5
11.5
+ 0.1%
4 Bedrooms or More
13.0
11.6
- 11.0%
12.8
11.6
- 9.6%
16.0
7.6
- 52.4%
All Bedroom Counts
9.4
8.6
- 9.0%
8.8
7.8
- 10.9%
11.2
10.8
- 3.1%
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