Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS®
April 2015 As we journey into the traditional selling season, there is great evidence of bustle. Lenders and REALTORS® are working vigorously to keep up with the demand of eager buyers lining up three deep. Meanwhile, the desire for more inventory continues. For the 12-month period spanning May 2014 through April 2015, Pending Sales in the Hilton Head region were up 1.0 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 13.5 percent. The overall Median Sales Price was up 0.7 percent to $260,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 1.8 percent to $285,000. The price range that tended to sell the quickest was the $100,000 and Below range at 83 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 8.9 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 7.7 percent. That amounts to 7.6 months supply for SingleFamily homes and 9.0 months supply for Condos.
Quick Facts + 13.5%
+ 5.4%
+ 0.8%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$300,001 and Above
4 Bedrooms or More
Single-Family
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 May 11, 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. | 1
Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total.
By Price Range 4-2014
By Bedroom Count
4-2015
4-2014 1,098
1,110
1,084
1,573
1,014
765
1,223
772
By Property Type
4-2015
377
343
4-2015
2,750
2,773
1,597
1,187 904
446
4-2014
953
428
93
88
- 23.1%
+ 1.1%
+ 6.9%
+ 0.9%
+ 13.5%
- 2.9%
+ 1.5%
+ 5.4%
+ 0.8%
- 5.4%
$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
4-2014
Single-Family Homes
Condos
4-2015
Change
4-2014
4-2015
Change
4-2014
4-2015
Change
$100,000 and Below
446
343
- 23.1%
179
124
- 30.7%
29
17
- 41.4%
$100,001 to $225,000
1,098
1,110
+ 1.1%
836
804
- 3.8%
29
30
+ 3.4%
$225,001 to $375,000
1,014
1,084
+ 6.9%
783
823
+ 5.1%
13
24
+ 84.6%
$375,001 to $650,000
765
772
+ 0.9%
623
631
+ 1.3%
15
15
0.0%
$650,001 and Above
377
428
+ 13.5%
329
391
+ 18.8%
7
2
- 71.4%
3,700
3,737
+ 1.0%
2,750
2,773
+ 0.8%
93
88
- 5.4%
All Price Ranges
By Bedroom Count
4-2014
4-2015
Change
4-2014
4-2015
Change
4-2014
4-2015
Change
2 Bedrooms or Less
1,223
1,187
- 2.9%
515
465
- 9.7%
69
69
0.0%
3 Bedrooms
1,573
1,597
+ 1.5%
1,355
1,370
+ 1.1%
19
17
- 10.5%
4 Bedrooms or More
904
953
+ 5.4%
880
938
+ 6.6%
5
2
- 60.0%
All Bedroom Counts
3,700
3,737
+ 1.0%
2,750
2,773
+ 0.8%
93
88
- 5.4%
Current as of May 11, 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 4-2014
By Bedroom Count
4-2015
4-2014
171
By Property Type 4-2014
4-2015
170 141
135 108 94
95 83
4-2015
138
118
104
106
105
143 133
111
107
107
100
91
- 11.2%
- 4.2%
+ 9.7%
+ 2.7%
- 0.8%
+ 1.4%
+ 5.5%
- 5.6%
+ 0.4%
+ 43.5%
$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
4-2014
Single-Family Homes
4-2015
Change
4-2014
4-2015
Change
Condos 4-2014
4-2015
Change
$100,000 and Below
94
83
- 11.2%
99
87
- 12.1%
49
113
+ 127.9%
$100,001 to $225,000
95
91
- 4.2%
83
73
- 11.6%
101
116
+ 15.0% + 63.1%
$225,001 to $375,000
108
118
+ 9.7%
94
104
+ 11.1%
120
196
$375,001 to $650,000
135
138
+ 2.7%
128
132
+ 3.1%
160
146
- 8.7%
$650,001 and Above
171
170
- 0.8%
177
167
- 5.3%
89
230
+ 158.4%
All Price Ranges
113
115
+ 1.7%
107
107
+ 0.4%
100
143
+ 43.5%
4-2014
4-2015
Change
4-2014
4-2015
Change
4-2014
4-2015
Change
104
106
+ 1.4%
68
62
- 7.9%
90
147
+ 63.2%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
105
111
+ 5.5%
102
107
+ 4.9%
135
134
- 1.0%
4 Bedrooms or More
141
133
- 5.6%
139
131
- 6.3%
139
0
- 100.0%
All Bedroom Counts
113
115
+ 1.7%
107
107
+ 0.4%
100
143
+ 43.5%
Current as of May 11, 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 4-2014
By Property Type 4-2014
4-2015
$462,000
$285,615 $176,000
$439,450
4-2015
$280,000 $258,270
$285,000
$260,000
$188,000 $280,000
$185,000
$185,000
+ 5.1% 2 Bedrooms or Less
- 2.0% 3 Bedrooms
- 4.9%
+ 0.7%
+ 1.8%
- 1.6%
4 Bedrooms or More
All Properties
Single-Family Homes
Condos
All Properties By Bedroom Count
Single-Family Homes
Condos
4-2014
4-2015
Change
4-2014
4-2015
Change
4-2014
4-2015
Change
2 Bedrooms or Less
$176,000
$185,000
+ 5.1%
$197,000
$209,750
+ 6.5%
$148,125
$148,950
+ 0.6%
3 Bedrooms
$285,615
$280,000
- 2.0%
$280,245
$275,000
- 1.9%
$329,500
$320,000
- 2.9%
4 Bedrooms or More
$462,000
$439,450
- 4.9%
$463,500
$440,000
- 5.1%
$445,000
$407,500
- 8.4%
All Bedroom Counts
$258,270
$260,000
+ 0.7%
$280,000
$285,000
+ 1.8%
$188,000
$185,000
- 1.6%
Current as of May 11, 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 4-2014
By Bedroom Count
4-2015
4-2014
96.1% 96.2%
96.2%
By Property Type
4-2015
95.7% 95.6%
95.9% 95.1%
4-2014
4-2015
95.9%
95.9%
95.3%
93.6%
93.6% 92.9%
92.7%
95.2% 95.2%
94.3%
95.1% 95.0% 93.0%
- 0.7%
+ 0.1%
- 0.3%
+ 0.2%
+ 1.0%
- 0.1%
+ 0.1%
0.0%
0.0%
- 1.4%
$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
4-2014
4-2015
Single-Family Homes Change
4-2014
4-2015
Condos
Change
4-2014
4-2015
Change
$100,000 and Below
93.6%
92.9%
- 0.7%
94.5%
93.1%
- 1.5%
95.1%
89.2%
- 10.8%
$100,001 to $225,000
96.1%
96.2%
+ 0.1%
96.8%
97.0%
+ 0.2%
94.1%
93.5%
- 0.6%
$225,001 to $375,000
96.2%
95.9%
- 0.3%
96.8%
96.4%
- 0.4%
93.8%
94.1%
+ 0.3%
$375,001 to $650,000
95.1%
95.3%
+ 0.2%
95.3%
95.5%
+ 0.2%
94.5%
96.1%
+ 1.7%
$650,001 and Above
92.7%
93.6%
+ 1.0%
92.5%
93.5%
+ 1.1%
93.6%
95.5%
+ 2.0%
All Price Ranges
95.3%
95.3%
0.0%
95.9%
95.9%
0.0%
94.3%
93.0%
- 1.4%
By Bedroom Count
4-2014
4-2015
Change
4-2014
4-2015
Change
4-2014
4-2015
Change
2 Bedrooms or Less
95.1%
95.0%
- 0.1%
96.7%
96.8%
+ 0.1%
94.4%
93.2%
- 1.3%
3 Bedrooms
95.6%
95.7%
+ 0.1%
95.9%
96.0%
+ 0.1%
94.1%
92.5%
- 1.7%
4 Bedrooms or More
95.2%
95.2%
0.0%
95.2%
95.3%
+ 0.1%
92.1%
0.0%
- 100.0%
All Bedroom Counts
95.3%
95.3%
0.0%
95.9%
95.9%
0.0%
94.3%
93.0%
- 1.4%
Current as of May 11, 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 4-2014
By Bedroom Count
4-2015
4-2014
By Property Type 4-2014
4-2015
4-2015
1,901 673
661
654
700
558
516
1,754
682
985
931
951 850
786 699
453
821 172
726
133
- 22.7%
- 12.2%
- 15.6%
- 2.8%
- 2.6%
- 11.1%
- 5.5%
- 10.6%
- 7.7%
- 11.6%
$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
4-2014
4-2015
Single-Family Homes Change
4-2014
4-2015
Change
Condos 4-2014
4-2015
Change
$100,000 and Below
172
133
- 22.7%
63
39
- 38.1%
109
94
- 13.8%
$100,001 to $225,000
516
453
- 12.2%
293
236
- 19.5%
223
217
- 2.7%
$225,001 to $375,000
661
558
- 15.6%
405
357
- 11.9%
256
201
- 21.5%
$375,001 to $650,000
673
654
- 2.8%
510
508
- 0.4%
163
146
- 10.4%
$650,001 and Above
700
682
- 2.6%
630
614
- 2.5%
70
68
- 2.9%
2,722
2,480
- 8.9%
1,901
1,754
- 7.7%
821
726
- 11.6%
4-2014
4-2015
Change
4-2014
4-2015
Change
4-2014
4-2015
Change
786
699
- 11.1%
163
147
- 9.8%
623
552
- 11.4%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
985
931
- 5.5%
808
768
- 5.0%
177
163
- 7.9%
4 Bedrooms or More
951
850
- 10.6%
930
839
- 9.8%
21
11
- 47.6%
All Bedroom Counts
2,722
2,480
- 8.9%
1,901
1,754
- 7.7%
821
726
- 11.6%
Current as of May 11, 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 4-2014
By Bedroom Count
4-2015
4-2014
By Property Type 4-2014
4-2015
4-2015
12.6
22.3 19.1
10.4 9.0
10.7 8.3 7.6 7.7
10.6
7.1
7.5
7.0
10.2
7.8 4.6
5.6
4.7
6.2 4.9
+ 2.2%
- 12.5%
- 20.5%
- 3.8%
- 14.3%
- 7.8%
- 6.7%
- 15.1%
- 8.4%
- 13.5%
$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
4-2014
4-2015
$100,000 and Below
4.6
$100,001 to $225,000
5.6
Single-Family Homes Change
4-2014
4-2015
4.7
+ 2.2%
4.2
3.8
4.9
- 12.5%
4.2
3.5
Change
Condos 4-2014
4-2015
Change
- 9.5%
4.9
5.2
+ 6.1%
- 16.7%
10.2
8.5
- 16.7% - 30.8%
$225,001 to $375,000
7.8
6.2
- 20.5%
6.2
5.2
- 16.1%
13.3
9.2
$375,001 to $650,000
10.6
10.2
- 3.8%
9.8
9.7
- 1.0%
13.8
12.4
- 10.1%
$650,001 and Above
22.3
19.1
- 14.3%
23.0
18.8
- 18.3%
17.5
22.1
+ 26.3%
All Price Ranges
8.8
8.0
- 9.1%
8.3
7.6
- 8.4%
10.4
9.0
- 13.5%
4-2014
4-2015
Change
4-2014
4-2015
Change
4-2014
4-2015
Change
7.7
7.1
- 7.8%
3.8
3.8
0.0%
10.6
9.2
- 13.2%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
7.5
7.0
- 6.7%
7.2
6.7
- 6.9%
9.7
8.6
- 11.3%
4 Bedrooms or More
12.6
10.7
- 15.1%
12.7
10.7
- 15.7%
8.8
5.1
- 42.0%
All Bedroom Counts
8.8
8.0
- 9.1%
8.3
7.6
- 8.4%
10.4
9.0
- 13.5%
Current as of May 11, 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