Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS速
March 2015 Inventory, affordability and mortgage rates. These are going to be the stories of 2015. Will there be enough inventory? Will rates remain low? Will homes be affordable in the the types and price ranges desired? A nation awaits. For the 12-month period spanning April 2014 through March 2015, Pending Sales in the Hilton Head region were up 0.6 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 11.1 percent. The overall Median Sales Price was up 1.6 percent to $260,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 0.9 percent to $282,500. The price range that tended to sell the quickest was the $100,000 and Below range at 80 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 6.3 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 5.9 percent. That amounts to 7.5 months supply for SingleFamily homes and 8.6 months supply for Condos.
Quick Facts + 11.1%
+ 7.4%
+ 75.7%
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
Current as of April 10, 2015 Data is Copyright 息 2015 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 3-2014
By Bedroom Count
3-2015
3-2014 1,093
1,109 1,017
1,067
1,594
766
1,221
761
By Property Type
3-2015
377
366
3-2015
2,739
2,744
1,572
1,202 883
445
3-2014
948
419
123
70
- 17.8%
+ 1.5%
+ 4.9%
- 0.7%
+ 11.1%
- 1.6%
- 1.4%
+ 7.4%
+ 0.2%
+ 75.7%
$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
3-2014
Single-Family Homes
Condos
3-2015
Change
3-2014
3-2015
Change
3-2014
3-2015
Change
$100,000 and Below
445
366
- 17.8%
180
133
- 26.1%
15
30
+ 100.0%
$100,001 to $225,000
1,093
1,109
+ 1.5%
835
800
- 4.2%
18
39
+ 116.7%
$225,001 to $375,000
1,017
1,067
+ 4.9%
768
815
+ 6.1%
22
35
+ 59.1%
$375,001 to $650,000
766
761
- 0.7%
625
620
- 0.8%
12
12
0.0%
$650,001 and Above
377
419
+ 11.1%
331
376
+ 13.6%
3
7
+ 133.3%
3,698
3,722
+ 0.6%
2,739
2,744
+ 0.2%
70
123
+ 75.7%
All Price Ranges
By Bedroom Count
3-2014
3-2015
Change
3-2014
3-2015
Change
3-2014
3-2015
Change
2 Bedrooms or Less
1,221
1,202
- 1.6%
505
473
- 6.3%
52
92
+ 76.9%
3 Bedrooms
1,594
1,572
- 1.4%
1,372
1,342
- 2.2%
17
28
+ 64.7%
4 Bedrooms or More
883
948
+ 7.4%
862
929
+ 7.8%
1
3
+ 200.0%
All Bedroom Counts
3,698
3,722
+ 0.6%
2,739
2,744
+ 0.2%
70
123
+ 75.7%
Current as of April 10, 2015 Data is Copyright © 2015 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 3-2014
By Bedroom Count
3-2015
3-2014
By Property Type 3-2014
3-2015
3-2015
152 173 140
96
95 80
108
144
172
139
133 105
103
107
108
111
115
107
115
92
- 16.1%
- 4.6%
+ 6.2%
- 0.7%
- 0.4%
- 2.5%
+ 3.7%
- 7.6%
- 1.1%
- 24.3%
$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
3-2014
Single-Family Homes
3-2015
Change
3-2014
3-2015
Change
Condos 3-2014
3-2015
Change
$100,000 and Below
95
80
- 16.1%
97
87
- 11.1%
81
56
- 30.8%
$100,001 to $225,000
96
92
- 4.6%
83
75
- 9.7%
157
114
- 27.2%
$225,001 to $375,000
108
115
+ 6.2%
94
101
+ 7.4%
209
159
- 23.8%
$375,001 to $650,000
140
139
- 0.7%
134
133
- 1.0%
46
254
+ 458.9%
$650,001 and Above
173
172
- 0.4%
176
172
- 2.4%
0
136
0.0%
All Price Ranges
115
114
- 0.8%
108
107
- 1.1%
152
115
- 24.3%
3-2014
3-2015
Change
3-2014
3-2015
Change
3-2014
3-2015
Change
105
103
- 2.5%
68
62
- 7.9%
164
117
- 28.9%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
107
111
+ 3.7%
102
106
+ 3.8%
117
106
- 9.0%
4 Bedrooms or More
144
133
- 7.6%
143
131
- 8.3%
0
0
0.0%
All Bedroom Counts
115
114
- 0.8%
108
107
- 1.1%
152
115
- 24.3%
Current as of April 10, 2015 Data is Copyright © 2015 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 3-2014
By Property Type 3-2014
3-2015
3-2015
$280,000
$465,450 $429,950
$290,000
$176,500
$256,000
$282,500
$260,000
$189,500 $285,000
$185,250
$183,000
+ 3.7% 2 Bedrooms or Less
- 1.7% 3 Bedrooms
- 7.6%
+ 1.6%
+ 0.9%
- 2.2%
4 Bedrooms or More
All Properties
Single-Family Homes
Condos
All Properties By Bedroom Count
Single-Family Homes
Condos
3-2014
3-2015
Change
3-2014
3-2015
Change
3-2014
3-2015
Change
2 Bedrooms or Less
$176,500
$183,000
+ 3.7%
$198,000
$206,000
+ 4.0%
$149,950
$149,950
0.0%
3 Bedrooms
$290,000
$285,000
- 1.7%
$283,522
$278,000
- 1.9%
$318,000
$330,000
+ 3.8%
4 Bedrooms or More
$465,450
$429,950
- 7.6%
$467,950
$430,000
- 8.1%
$432,500
$407,500
- 5.8%
All Bedroom Counts
$256,000
$260,000
+ 1.6%
$280,000
$282,500
+ 0.9%
$189,500
$185,250
- 2.2%
Current as of April 10, 2015 Data is Copyright © 2015 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 3-2014
By Bedroom Count
3-2015
3-2014
96.1% 96.2%
96.3%
95.9% 95.1%
By Property Type
3-2015
95.8%
95.4%
3-2014
3-2015
95.8%
96.0%
95.6% 94.3% 95.3%
93.6%
93.5% 93.4% 92.4%
95.1%
92.5%
95.0% 95.0%
- 0.1%
+ 0.1%
- 0.4%
+ 0.3%
+ 1.3%
0.0%
+ 0.2%
+ 0.2%
+ 0.2%
- 1.9%
$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
3-2014
3-2015
Single-Family Homes Change
3-2014
3-2015
Condos
Change
3-2014
3-2015
Change
$100,000 and Below
93.5%
93.4%
- 0.1%
94.0%
93.8%
- 0.2%
93.4%
86.4%
- 4.0%
$100,001 to $225,000
96.1%
96.2%
+ 0.1%
96.8%
97.0%
+ 0.2%
93.9%
95.8%
+ 2.0%
$225,001 to $375,000
96.3%
95.9%
- 0.4%
96.9%
96.5%
- 0.4%
95.0%
94.2%
- 0.8%
$375,001 to $650,000
95.1%
95.4%
+ 0.3%
95.2%
95.5%
+ 0.3%
94.0%
90.7%
- 3.5%
$650,001 and Above
92.4%
93.6%
+ 1.3%
92.2%
93.6%
+ 1.5%
98.5%
94.1%
- 4.5%
All Price Ranges
95.3%
95.4%
+ 0.1%
95.8%
96.0%
+ 0.2%
94.3%
92.5%
- 1.9%
By Bedroom Count
3-2014
3-2015
Change
3-2014
3-2015
Change
3-2014
3-2015
Change
2 Bedrooms or Less
95.0%
95.0%
0.0%
96.6%
96.8%
+ 0.2%
94.2%
92.3%
- 2.0%
3 Bedrooms
95.6%
95.8%
+ 0.2%
95.9%
96.0%
+ 0.1%
94.4%
93.6%
- 0.8%
4 Bedrooms or More
95.1%
95.3%
+ 0.2%
95.2%
95.5%
+ 0.3%
95.9%
0.0%
- 100.0%
All Bedroom Counts
95.3%
95.4%
+ 0.1%
95.8%
96.0%
+ 0.2%
94.3%
92.5%
- 1.9%
Current as of April 10, 2015 Data is Copyright © 2015 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 3-2014
By Bedroom Count
3-2015
3-2014
By Property Type 3-2014
3-2015
1,833 629
627 490
639
684
666
962
896
529 708
455
915
3-2015
1,724
845
680 752
155
697
132
- 14.8%
- 7.1%
- 15.6%
+ 1.6%
- 2.6%
- 4.0%
- 6.9%
- 7.7%
- 5.9%
- 7.3%
$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
3-2014
Single-Family Homes
3-2015
Change
3-2014
3-2015
Change
Condos 3-2014
3-2015
Change
$100,000 and Below
155
132
- 14.8%
65
46
- 29.2%
90
86
- 4.4%
$100,001 to $225,000
490
455
- 7.1%
276
238
- 13.8%
214
217
+ 1.4%
$225,001 to $375,000
627
529
- 15.6%
401
343
- 14.5%
226
186
- 17.7%
$375,001 to $650,000
629
639
+ 1.6%
476
497
+ 4.4%
153
142
- 7.2%
$650,001 and Above
684
666
- 2.6%
615
600
- 2.4%
69
66
- 4.3%
2,585
2,421
- 6.3%
1,833
1,724
- 5.9%
752
697
- 7.3%
3-2014
3-2015
Change
3-2014
3-2015
Change
3-2014
3-2015
Change
708
680
- 4.0%
151
149
- 1.3%
557
531
- 4.7%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
962
896
- 6.9%
790
745
- 5.7%
172
151
- 12.2%
4 Bedrooms or More
915
845
- 7.7%
892
830
- 7.0%
23
15
- 34.8%
All Bedroom Counts
2,585
2,421
- 6.3%
1,833
1,724
- 5.9%
752
697
- 7.3%
Current as of April 10, 2015 Data is Copyright © 2015 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 3-2014
By Bedroom Count
3-2015
3-2014
By Property Type 3-2014
3-2015
3-2015 9.4
12.4
21.8
8.6 8.0
19.1
10.7
7.0 9.9
6.8
7.2
7.5
6.8
10.1
7.4 4.2
5.4
4.3
4.9
5.9
+ 2.4%
- 9.3%
- 20.3%
+ 2.0%
- 12.4%
- 2.9%
- 5.6%
- 13.7%
- 6.3%
- 8.5%
$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
Single-Family Homes
3-2014
3-2015
Change
3-2014
3-2015
$100,000 and Below
4.2
4.3
+ 2.4%
4.3
4.2
$100,001 to $225,000
5.4
4.9
- 9.3%
4.0
3.6
$225,001 to $375,000
7.4
5.9
- 20.3%
6.3
5.1
- 19.0%
$375,001 to $650,000
9.9
10.1
+ 2.0%
9.1
9.6
+ 5.5%
$650,001 and Above
21.8
19.1
- 12.4%
22.3
19.1
All Price Ranges
8.4
7.8
- 7.1%
8.0
3-2014
3-2015
Change
7.0
6.8
- 2.9%
By Bedroom Count 2 Bedrooms or Less
Change
Condos 3-2014
3-2015
Change
- 2.3%
4.1
4.4
+ 7.3%
- 10.0%
10.0
8.4
- 16.0%
10.9
8.9
- 18.3%
13.0
12.1
- 6.9%
- 14.3%
18.0
18.4
+ 2.2%
7.5
- 6.3%
9.4
8.6
- 8.5%
3-2014
3-2015
Change
3-2014
3-2015
Change
3.6
3.8
+ 5.6%
9.3
8.7
- 6.5%
3 Bedrooms
7.2
6.8
- 5.6%
6.9
6.7
- 2.9%
9.3
7.9
- 15.1%
4 Bedrooms or More
12.4
10.7
- 13.7%
12.4
10.7
- 13.7%
11.0
5.5
- 50.0%
All Bedroom Counts
8.4
7.8
- 7.1%
8.0
7.5
- 6.3%
9.4
8.6
- 8.5%
Current as of April 10, 2015 Data is Copyright © 2015 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