Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS®
January 2015 The prevailing trend for 2015 still appears to be more sales and rising prices – not of the headline-grabbing variety but enough to keep the wider economy bullish on housing. With improved inventory, things will only get better. For the 12-month period spanning February 2014 through January 2015, Pending Sales in the Hilton Head region were down 1.0 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 6.1 percent. The overall Median Sales Price was up 4.0 percent to $260,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 2.2 percent to $281,000. The price range that tended to sell the quickest was the $100,000 and Below range at 82 days; the price range that tended to sell the slowest was the $650,001 and Above range at 177 days. Market-wide, inventory levels were down 4.9 percent. The property type that lost the least inventory was the Condos segment, where it decreased 4.0 percent. That amounts to 6.9 months supply for Single-Family homes and 8.8 months supply for Condos.
Quick Facts + 6.1%
+ 14.4%
+ 29.5%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$300,001 and Above
4 Bedrooms or More
Condos
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
February 10, 2015 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. | 1
Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total.
By Price Range 1-2014
By Bedroom Count
1-2015
1-2014 1,100
1,100 999
1,606
1,052
773
By Property Type
1-2015
1-2014
1-2015
2,705
2,753
1,547
1,259 1,159
752
961 840 457 376
364
399
79
61
- 20.4%
0.0%
+ 5.3%
- 2.7%
+ 6.1%
- 7.9%
- 3.7%
+ 14.4%
+ 1.8%
+ 29.5%
$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
1-2014
Single-Family Homes
Condos
1-2015
Change
1-2014
1-2015
Change
1-2014
1-2015
Change
$100,000 and Below
457
364
- 20.4%
176
145
- 17.6%
19
18
- 5.3%
$100,001 to $225,000
1,100
1,100
0.0%
832
820
- 1.4%
21
28
+ 33.3%
$225,001 to $375,000
999
1,052
+ 5.3%
749
813
+ 8.5%
12
19
+ 58.3%
$375,001 to $650,000
773
752
- 2.7%
622
615
- 1.1%
6
13
+ 116.7%
$650,001 and Above
376
399
+ 6.1%
326
360
+ 10.4%
3
1
- 66.7%
3,705
3,667
- 1.0%
2,705
2,753
+ 1.8%
61
79
+ 29.5%
All Price Ranges
By Bedroom Count
1-2014
1-2015
Change
1-2014
1-2015
Change
1-2014
1-2015
Change
2 Bedrooms or Less
1,259
1,159
- 7.9%
515
482
- 6.4%
51
55
+ 7.8%
3 Bedrooms
1,606
1,547
- 3.7%
1,371
1,329
- 3.1%
10
22
+ 120.0%
4 Bedrooms or More
840
961
+ 14.4%
819
942
+ 15.0%
0
2
--
All Bedroom Counts
3,705
3,667
- 1.0%
2,705
2,753
+ 1.8%
61
79
+ 29.5%
Current as of February 10, 2015 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. | 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 10-2013
By Bedroom Count
10-2014
1-2014
177 138 102
95 82
107
10-2013
1-2015
148
177
137
By Property Type
1-2015
124 136
105
103
107
109
106 94
108
115
91
- 14.0%
- 10.0%
+ 7.8%
- 0.9%
- 0.3%
- 1.8%
+ 1.1%
- 8.1%
- 2.7%
+ 31.8%
$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
10-2013
10-2014
Single-Family Homes Change
1-2014
1-2015
Change
Condos 1-2014
1-2015
Change
$100,000 and Below
95
82
- 14.0%
95
85
- 10.4%
73
85
+ 17.0%
$100,001 to $225,000
102
91
- 10.0%
86
73
- 15.5%
95
174
+ 83.8%
$225,001 to $375,000
107
115
+ 7.8%
96
99
+ 3.3%
111
102
- 8.2%
$375,001 to $650,000
138
137
- 0.9%
133
132
- 0.3%
186
137
- 26.2%
$650,001 and Above
177
177
- 0.3%
180
178
- 1.0%
0
156
--
All Price Ranges
116
114
- 1.6%
109
106
- 2.7%
94
124
+ 31.8%
1-2014
1-2015
Change
1-2014
1-2015
Change
1-2014
1-2015
Change
105
103
- 1.8%
68
60
- 12.5%
84
141
+ 68.0%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
107
108
+ 1.1%
102
104
+ 1.4%
129
92
- 28.8%
4 Bedrooms or More
148
136
- 8.1%
147
134
- 9.1%
0
90
--
All Bedroom Counts
116
114
- 1.6%
109
106
- 2.7%
94
124
+ 31.8%
Current as of February 10, 2015 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. | 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 1-2014
By Property Type 1-2014
1-2015
$459,000
$285,000 $175,000
$435,000
1-2015
$250,000
$260,000
$275,000
$281,000
$184,750
$282,500
$187,250
$182,000
+ 4.0% 2 Bedrooms or Less
- 0.9% 3 Bedrooms
- 5.2%
+ 4.0%
+ 2.2%
+ 1.4%
4 Bedrooms or More
All Properties
Single-Family Homes
Condos
All Properties By Bedroom Count
Single-Family Homes
Condos
1-2014
1-2015
Change
1-2014
1-2015
Change
1-2014
1-2015
Change
2 Bedrooms or Less
$175,000
$182,000
+ 4.0%
$195,358
$205,000
+ 4.9%
$145,000
$150,000
+ 3.4%
3 Bedrooms
$285,000
$282,500
- 0.9%
$280,490
$275,000
- 2.0%
$317,500
$327,000
+ 3.0%
4 Bedrooms or More
$459,000
$435,000
- 5.2%
$459,900
$432,500
- 6.0%
$432,500
$465,000
+ 7.5%
All Bedroom Counts
$250,000
$260,000
+ 4.0%
$275,000
$281,000
+ 2.2%
$184,750
$187,250
+ 1.4%
Current as of February 10, 2015 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. | 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 1-2014
By Bedroom Count
1-2015
1-2014
96.1% 96.1%
96.2%
95.7% 95.7% 96.0% 95.0%
94.1%
By Property Type
1-2015
1-2014
1-2015
95.9%
95.9%
95.3%
93.8% 92.3%
94.1%
95.2%
93.4%
95.1%
95.1% 95.0%
92.7%
- 0.3%
0.0%
- 0.2%
+ 0.3%
+ 1.2%
+ 0.1%
0.0%
+ 0.1%
0.0%
+ 1.5%
$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
1-2014
Single-Family Homes
1-2015
Change
1-2014
1-2015
Condos
Change
1-2014
1-2015
Change
$100,000 and Below
94.1%
93.8%
- 0.3%
95.2%
93.1%
- 2.2%
92.3%
92.5%
+ 2.8%
$100,001 to $225,000
96.1%
96.1%
0.0%
96.8%
97.0%
+ 0.2%
92.2%
94.8%
+ 2.8%
$225,001 to $375,000
96.2%
96.0%
- 0.2%
96.8%
96.5%
- 0.3%
94.7%
95.8%
+ 1.2%
$375,001 to $650,000
95.0%
95.3%
+ 0.3%
95.2%
95.4%
+ 0.2%
93.2%
94.2%
+ 1.1%
$650,001 and Above
92.3%
93.4%
+ 1.2%
92.3%
93.4%
+ 1.2%
0.0%
91.8%
--
All Price Ranges
95.4%
95.4%
0.0%
95.9%
95.9%
0.0%
92.7%
94.1%
+ 1.5%
By Bedroom Count
1-2014
1-2015
Change
1-2014
1-2015
Change
1-2014
1-2015
Change
2 Bedrooms or Less
95.0%
95.1%
+ 0.1%
96.7%
96.7%
0.0%
92.7%
94.1%
+ 1.5%
3 Bedrooms
95.7%
95.7%
0.0%
96.0%
96.0%
0.0%
92.8%
94.2%
+ 1.5%
4 Bedrooms or More
95.1%
95.2%
+ 0.1%
95.2%
95.4%
+ 0.2%
0.0%
93.6%
--
All Bedroom Counts
95.4%
95.4%
0.0%
95.9%
95.9%
0.0%
92.7%
94.1%
+ 1.5%
Current as of February 10, 2015 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. | 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 1-2014
By Bedroom Count
1-2015
1-2014
By Property Type 1-2014
1-2015
1,673 579 537 482
614
893
604
859
554
1-2015
1,585
812 752
509 663
447
641
695 156
667
138
- 11.5%
- 7.3%
- 5.2%
- 4.3%
- 1.6%
- 3.3%
- 3.8%
- 7.4%
- 5.3%
- 4.0%
$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
1-2014
Single-Family Homes
1-2015
Change
1-2014
1-2015
Change
Condos 1-2014
1-2015
Change
$100,000 and Below
156
138
- 11.5%
77
55
- 28.6%
79
83
+ 5.1%
$100,001 to $225,000
482
447
- 7.3%
276
234
- 15.2%
206
213
+ 3.4%
$225,001 to $375,000
537
509
- 5.2%
337
324
- 3.9%
200
185
- 7.5%
$375,001 to $650,000
579
554
- 4.3%
429
431
+ 0.5%
150
123
- 18.0%
$650,001 and Above
614
604
- 1.6%
554
541
- 2.3%
60
63
+ 5.0%
2,368
2,252
- 4.9%
1,673
1,585
- 5.3%
695
667
- 4.0%
1-2014
1-2015
Change
1-2014
1-2015
Change
1-2014
1-2015
Change
663
641
- 3.3%
154
128
- 16.9%
509
513
+ 0.8%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
893
859
- 3.8%
727
719
- 1.1%
166
140
- 15.7%
4 Bedrooms or More
812
752
- 7.4%
792
738
- 6.8%
20
14
- 30.0%
All Bedroom Counts
2,368
2,252
- 4.9%
1,673
1,585
- 5.3%
695
667
- 4.0%
Current as of February 10, 2015 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. | 6
Months Supply of Inventory The inventory of homes for sale at the end of the most recent month, divided by the average monthly pending sales from the last 12 months. Based on one month of activity.
By Price Range 1-2014
By Bedroom Count
1-2015
1-2014
By Property Type 1-2014
1-2015
1-2015
19.6
7.4
18.2
6.9
9.4
6.3 9.0
4.1
4.5
5.3
6.5 4.9
8.8
8.3
11.6
6.6
6.7
6.7
8.8
5.8
+ 9.8%
- 7.5%
- 10.8%
- 2.2%
- 7.1%
+ 4.8%
0.0%
- 19.0%
- 6.8%
+ 6.0%
$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
Single-Family Homes
Condos
1-2014
1-2015
Change
1-2014
1-2015
Change
1-2014
1-2015
Change
$100,000 and Below
4.1
4.5
+ 9.8%
5.3
4.6
- 13.2%
3.4
4.5
+ 32.4%
$100,001 to $225,000
5.3
4.9
- 7.5%
4.0
3.4
- 15.0%
9.2
9.1
- 1.1%
$225,001 to $375,000
6.5
5.8
- 10.8%
5.4
4.8
- 11.1%
9.6
9.3
- 3.1%
$375,001 to $650,000
9.0
8.8
- 2.2%
8.3
8.4
+ 1.2%
11.9
10.8
- 9.2%
$650,001 and Above
19.6
18.2
- 7.1%
20.4
18.0
- 11.8%
14.4
19.4
+ 34.7%
All Price Ranges
7.7
7.4
- 3.9%
7.4
6.9
- 6.8%
8.3
8.8
+ 6.0%
1-2014
1-2015
Change
1-2014
1-2015
Change
1-2014
1-2015
Change
6.3
6.6
+ 4.8%
3.6
3.2
- 11.1%
8.2
9.1
+ 11.0%
3 Bedrooms
6.7
6.7
0.0%
6.4
6.5
+ 1.6%
8.5
7.7
- 9.4%
4 Bedrooms or More
11.6
9.4
- 19.0%
11.6
9.4
- 19.0%
8.6
5.9
- 31.4%
All Bedroom Counts
7.7
7.4
- 3.9%
7.4
6.9
- 6.8%
8.3
8.8
+ 6.0%
By Bedroom Count 2 Bedrooms or Less
Current as of February 10, 2015 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. | 7