Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS速
February 2015 This is the year, folks. We should all be watching for more inventory compared to last year at various price segments to give hungry buyers something more to bite on. Rates are expected to remain low enough to be easy prey. For the 12-month period spanning March 2014 through February 2015, overall Pending Sales in the Hilton Head region remained flat for the period. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 11.3 percent. The overall Median Sales Price was up 3.0 percent to $260,000. The property type with the largest price gain was the Condos segment, where prices increased 3.2 percent to $191,000. 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 176 days. Market-wide, inventory levels were down 5.6 percent. The property type that lost the least inventory was the Condos segment, where it decreased 1.3 percent. That amounts to 6.9 months supply for Single-Family homes and 9.2 months supply for Condos.
Quick Facts + 11.3%
+ 14.6%
+ 18.8%
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
of March 10, 2015 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 2-2014
By Bedroom Count
2-2015
2-2014 1,092
1,098 1,000
1,597
1,055
775
1,241 753
By Property Type
2-2015
2-2014
2-2015
2,694
2,756
1,548
1,167 965 842
442 371
361
413
82
69
- 18.3%
+ 0.5%
+ 5.5%
- 2.8%
+ 11.3%
- 6.0%
- 3.1%
+ 14.6%
+ 2.3%
+ 18.8%
$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
2-2014
Single-Family Homes
Condos
2-2015
Change
2-2014
2-2015
Change
2-2014
2-2015
Change
$100,000 and Below
442
361
- 18.3%
169
143
- 15.4%
15
15
0.0%
$100,001 to $225,000
1,092
1,098
+ 0.5%
822
810
- 1.5%
23
32
+ 39.1%
$225,001 to $375,000
1,000
1,055
+ 5.5%
749
816
+ 8.9%
22
22
0.0%
$375,001 to $650,000
775
753
- 2.8%
632
613
- 3.0%
6
10
+ 66.7%
$650,001 and Above
371
413
+ 11.3%
322
374
+ 16.1%
3
3
0.0%
3,680
3,680
0.0%
2,694
2,756
+ 2.3%
69
82
+ 18.8%
All Price Ranges
By Bedroom Count
2-2014
2-2015
Change
2-2014
2-2015
Change
2-2014
2-2015
Change
2 Bedrooms or Less
1,241
1,167
- 6.0%
504
479
- 5.0%
55
68
+ 23.6%
3 Bedrooms
1,597
1,548
- 3.1%
1,370
1,329
- 3.0%
12
14
+ 16.7%
4 Bedrooms or More
842
965
+ 14.6%
820
948
+ 15.6%
2
0
- 100.0%
All Bedroom Counts
3,680
3,680
0.0%
2,694
2,756
+ 2.3%
69
82
+ 18.8%
Current as of March 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
2-2014
176
By Property Type 10-2013
2-2015
130
148
176
132 139 100
95 82
105
139
2-2015
104
104
107
109
115 107
111
115
92
- 13.6%
- 7.8%
+ 8.7%
+ 0.1%
- 0.4%
+ 0.5%
+ 4.1%
- 10.8%
- 2.0%
+ 13.1%
$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
10-2013
Single-Family Homes
10-2014
Change
2-2014
2-2015
Change
Condos 2-2014
2-2015
Change
$100,000 and Below
95
82
- 13.6%
97
87
- 10.9%
62
42
- 31.4%
$100,001 to $225,000
100
92
- 7.8%
87
74
- 14.4%
120
135
+ 12.6%
$225,001 to $375,000
105
115
+ 8.7%
94
99
+ 6.2%
183
126
- 31.2%
$375,001 to $650,000
139
139
+ 0.1%
133
133
+ 0.5%
83
225
+ 170.7%
$650,001 and Above
176
176
- 0.4%
180
176
- 2.2%
179
202
+ 12.8%
All Price Ranges
115
114
- 0.5%
109
107
- 2.0%
115
130
+ 13.1%
2-2014
2-2015
Change
2-2014
2-2015
Change
2-2014
2-2015
Change
104
104
+ 0.5%
69
61
- 12.0%
113
129
+ 14.6%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
107
111
+ 4.1%
102
107
+ 4.8%
72
129
+ 80.2%
4 Bedrooms or More
148
132
- 10.8%
147
130
- 11.5%
502
154
- 69.4%
All Bedroom Counts
115
114
- 0.5%
109
107
- 2.0%
115
130
+ 13.1%
Current as of March 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 2-2014
By Property Type 2-2014
2-2015
2-2015
$461,000 $430,000
$285,000 $176,000
$252,500
$260,000
$275,000
$281,000
$185,000
$282,500
$191,000
$185,000
+ 5.1% 2 Bedrooms or Less
- 0.9% 3 Bedrooms
- 6.7%
+ 3.0%
+ 2.2%
+ 3.2%
4 Bedrooms or More
All Properties
Single-Family Homes
Condos
All Properties By Bedroom Count
Single-Family Homes
Condos
2-2014
2-2015
Change
2-2014
2-2015
Change
2-2014
2-2015
Change
2 Bedrooms or Less
$176,000
$185,000
+ 5.1%
$199,458
$205,000
+ 2.8%
$146,500
$150,000
+ 2.4%
3 Bedrooms
$285,000
$282,500
- 0.9%
$280,245
$275,000
- 1.9%
$318,000
$329,000
+ 3.5%
4 Bedrooms or More
$461,000
$430,000
- 6.7%
$463,500
$430,000
- 7.2%
$432,500
$436,250
+ 0.9%
All Bedroom Counts
$252,500
$260,000
+ 3.0%
$275,000
$281,000
+ 2.2%
$185,000
$191,000
+ 3.2%
Current as of March 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 2-2014
By Bedroom Count
2-2015
2-2014
96.1% 96.2%
96.3%
By Property Type
2-2015
2-2014
2-2015
95.9%
95.9%
95.7% 95.7% 95.9% 95.1% 95.3%
94.0%
93.6%
95.3%
93.5% 92.3%
95.1%
95.1% 95.1%
94.3% 93.8%
- 0.4%
+ 0.1%
- 0.4%
+ 0.2%
+ 1.3%
0.0%
0.0%
+ 0.2%
0.0%
- 0.5%
$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
2-2014
2-2015
Single-Family Homes Change
2-2014
2-2015
Condos
Change
2-2014
2-2015
Change
$100,000 and Below
94.0%
93.6%
- 0.4%
94.7%
93.0%
- 1.8%
96.9%
92.4%
- 7.6%
$100,001 to $225,000
96.1%
96.2%
+ 0.1%
96.8%
97.1%
+ 0.3%
93.8%
93.6%
- 0.2% + 2.4%
$225,001 to $375,000
96.3%
95.9%
- 0.4%
96.9%
96.5%
- 0.4%
92.5%
94.7%
$375,001 to $650,000
95.1%
95.3%
+ 0.2%
95.3%
95.5%
+ 0.2%
95.2%
95.1%
- 0.1%
$650,001 and Above
92.3%
93.5%
+ 1.3%
92.2%
93.4%
+ 1.3%
89.4%
91.8%
+ 2.7%
All Price Ranges
95.4%
95.4%
0.0%
95.9%
95.9%
0.0%
94.3%
93.8%
- 0.5%
By Bedroom Count
2-2014
2-2015
Change
2-2014
2-2015
Change
2-2014
2-2015
Change
2 Bedrooms or Less
95.1%
95.1%
0.0%
96.7%
96.7%
0.0%
94.6%
93.3%
- 1.4%
3 Bedrooms
95.7%
95.7%
0.0%
96.0%
96.0%
0.0%
94.4%
95.4%
+ 1.1%
4 Bedrooms or More
95.1%
95.3%
+ 0.2%
95.2%
95.4%
+ 0.2%
84.1%
91.4%
+ 8.7%
All Bedroom Counts
95.4%
95.4%
0.0%
95.9%
95.9%
0.0%
94.3%
93.8%
- 0.5%
Current as of March 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 2-2014
By Bedroom Count
2-2015
2-2014
633 589
571
586
491
489
840 685
443
2-2014
902
624
By Property Type
2-2015
2-2015
1,719
849
1,592
782
678
717 154
708
156
+ 1.3%
- 9.4%
- 14.0%
- 0.5%
- 1.4%
- 1.0%
- 6.9%
- 7.9%
- 7.4%
- 1.3%
$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
2-2014
Single-Family Homes
2-2015
Change
2-2014
2-2015
Change
Condos 2-2014
2-2015
Change
$100,000 and Below
154
156
+ 1.3%
72
52
- 27.8%
82
104
+ 26.8%
$100,001 to $225,000
489
443
- 9.4%
277
228
- 17.7%
212
215
+ 1.4%
$225,001 to $375,000
571
491
- 14.0%
362
298
- 17.7%
209
193
- 7.7%
$375,001 to $650,000
589
586
- 0.5%
437
455
+ 4.1%
152
131
- 13.8%
$650,001 and Above
633
624
- 1.4%
571
559
- 2.1%
62
65
+ 4.8%
2,436
2,300
- 5.6%
1,719
1,592
- 7.4%
717
708
- 1.3%
2-2014
2-2015
Change
2-2014
2-2015
Change
2-2014
2-2015
Change
685
678
- 1.0%
160
136
- 15.0%
525
542
+ 3.2%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
902
840
- 6.9%
732
689
- 5.9%
170
151
- 11.2%
4 Bedrooms or More
849
782
- 7.9%
827
767
- 7.3%
22
15
- 31.8%
All Bedroom Counts
2,436
2,300
- 5.6%
1,719
1,592
- 7.4%
717
708
- 1.3%
Current as of March 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 2-2014
By Bedroom Count
2-2015
2-2014
2-2014
6.9 5.4
4.8
6.9
9.7
6.6
5.2
9.2
8.7 7.7
18.1
4.2
2-2015
12.1
20.5
9.1
By Property Type
2-2015
7.0
6.8
6.5
9.3
5.6
+ 23.8%
- 11.1%
- 18.8%
+ 2.2%
- 11.7%
+ 6.1%
- 4.4%
- 19.8%
- 10.4%
+ 5.7%
$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
Single-Family Homes
Condos
2-2014
2-2015
Change
2-2014
2-2015
Change
2-2014
2-2015
Change
$100,000 and Below
4.2
5.2
+ 23.8%
5.1
4.4
- 13.7%
3.6
5.7
+ 58.3%
$100,001 to $225,000
5.4
4.8
- 11.1%
4.0
3.4
- 15.0%
9.4
9.0
- 4.3%
$225,001 to $375,000
6.9
5.6
- 18.8%
5.8
4.4
- 24.1%
10.0
9.7
- 3.0%
$375,001 to $650,000
9.1
9.3
+ 2.2%
8.3
8.9
+ 7.2%
12.8
11.2
- 12.5%
$650,001 and Above
20.5
18.1
- 11.7%
21.3
17.9
- 16.0%
15.2
20.0
+ 31.6%
All Price Ranges
7.9
7.5
- 5.1%
7.7
6.9
- 10.4%
8.7
9.2
+ 5.7%
2-2014
2-2015
Change
2-2014
2-2015
Change
2-2014
2-2015
Change
6.6
7.0
+ 6.1%
3.8
3.4
- 10.5%
8.5
9.5
+ 11.8%
3 Bedrooms
6.8
6.5
- 4.4%
6.4
6.2
- 3.1%
9.0
8.3
- 7.8%
4 Bedrooms or More
12.1
9.7
- 19.8%
12.1
9.7
- 19.8%
10.0
6.2
- 38.0%
All Bedroom Counts
7.9
7.5
- 5.1%
7.7
6.9
- 10.4%
8.7
9.2
+ 5.7%
By Bedroom Count 2 Bedrooms or Less
Current as of March 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