Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS速
May 2015 The last 12 months have seen a lot of buyer activity. Prices are up in most markets and buyers are hungry to purchase, yet inventory remains low. If existing owners will not sell, new construction is the next best answer to this dilemma. For the 12-month period spanning June 2014 through May 2015, Pending Sales in the Hilton Head region were up 2.5 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 14.1 percent. The overall Median Sales Price was up 3.9 percent to $265,000. The property type with the largest price gain was the Condos segment, where prices increased 11.4 percent to $195,000. The price range that tended to sell the quickest was the $100,000 and Below range at 86 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 7.7 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 5.0 percent. That amounts to 7.6 months supply for SingleFamily homes and 8.6 months supply for Condos.
Quick Facts + 14.1%
+ 5.7%
+ 18.0%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$650,001 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 June 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 5-2014
By Bedroom Count
5-2015
5-2014 1,089
1,128
1,123 1,562
1,019
761
1,222
775
By Property Type
5-2015 1,620
370
328
5-2015
2,739
2,797
1,205 900
445
5-2014
951
422
105
89
- 26.3%
+ 3.6%
+ 10.2%
+ 1.8%
+ 14.1%
- 1.4%
+ 3.7%
+ 5.7%
+ 2.1%
+ 18.0%
$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
5-2014
Single-Family Homes
Condos
5-2015
Change
5-2014
5-2015
Change
5-2014
5-2015
Change
$100,000 and Below
445
328
- 26.3%
177
114
- 35.6%
24
19
- 20.8%
$100,001 to $225,000
1,089
1,128
+ 3.6%
826
805
- 2.5%
22
38
+ 72.7%
$225,001 to $375,000
1,019
1,123
+ 10.2%
788
855
+ 8.5%
23
32
+ 39.1%
$375,001 to $650,000
761
775
+ 1.8%
623
637
+ 2.2%
16
13
- 18.8%
$650,001 and Above
370
422
+ 14.1%
325
386
+ 18.8%
4
3
- 25.0%
3,684
3,776
+ 2.5%
2,739
2,797
+ 2.1%
89
105
+ 18.0%
All Price Ranges
By Bedroom Count
5-2014
5-2015
Change
5-2014
5-2015
Change
5-2014
5-2015
Change
2 Bedrooms or Less
1,222
1,205
- 1.4%
508
472
- 7.1%
71
82
+ 15.5%
3 Bedrooms
1,562
1,620
+ 3.7%
1,351
1,390
+ 2.9%
18
22
+ 22.2%
4 Bedrooms or More
900
951
+ 5.7%
880
935
+ 6.3%
0
1
--
All Bedroom Counts
3,684
3,776
+ 2.5%
2,739
2,797
+ 2.1%
89
105
+ 18.0%
Current as of June 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 5-2014
By Bedroom Count
5-2015
5-2014
174 135
5-2014
139
170
135
102
118
By Property Type
5-2015
107
105
5-2015
121 133
111
106 93
92
86
93
108
106
106
- 6.6%
+ 0.3%
+ 11.2%
+ 0.5%
- 2.3%
+ 5.2%
+ 6.4%
- 3.9%
+ 1.7%
+ 14.4%
$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
5-2014
5-2015
Single-Family Homes Change
5-2014
5-2015
Change
Condos 5-2014
5-2015
Change
$100,000 and Below
93
86
- 6.6%
98
93
- 5.4%
78
99
+ 27.8%
$100,001 to $225,000
92
93
+ 0.3%
79
74
- 6.4%
99
122
+ 23.0% - 8.0%
$225,001 to $375,000
106
118
+ 11.2%
95
104
+ 9.8%
144
132
$375,001 to $650,000
135
135
+ 0.5%
128
129
+ 0.8%
135
126
- 6.5%
$650,001 and Above
174
170
- 2.3%
178
168
- 5.6%
197
139
- 29.2%
All Price Ranges
112
116
+ 3.6%
106
108
+ 1.7%
106
121
+ 14.4%
5-2014
5-2015
Change
5-2014
5-2015
Change
5-2014
5-2015
Change
102
107
+ 5.2%
67
62
- 8.1%
91
124
+ 36.8%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
105
111
+ 6.4%
102
107
+ 5.1%
108
114
+ 5.9%
4 Bedrooms or More
139
133
- 3.9%
136
132
- 3.1%
414
98
- 76.3%
All Bedroom Counts
112
116
+ 3.6%
106
108
+ 1.7%
106
121
+ 14.4%
Current as of June 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 5-2014
By Property Type 5-2014
5-2015
$451,250
5-2015
$450,000 $255,000
$285,000
$265,000
$278,000
$286,000
$284,950 $175,000
$174,900
$195,000
$190,000
+ 8.6% 2 Bedrooms or Less
- 0.0% 3 Bedrooms
- 0.3%
+ 3.9%
+ 2.9%
+ 11.4%
4 Bedrooms or More
All Properties
Single-Family Homes
Condos
All Properties By Bedroom Count
Single-Family Homes
Condos
5-2014
5-2015
Change
5-2014
5-2015
Change
5-2014
5-2015
Change
2 Bedrooms or Less
$174,900
$190,000
+ 8.6%
$197,000
$210,000
+ 6.6%
$143,000
$155,000
+ 8.4%
3 Bedrooms
$285,000
$284,950
- 0.0%
$280,000
$279,900
- 0.0%
$322,000
$320,000
- 0.6%
4 Bedrooms or More
$451,250
$450,000
- 0.3%
$450,000
$450,000
0.0%
$500,000
$407,500
- 18.5%
All Bedroom Counts
$255,000
$265,000
+ 3.9%
$278,000
$286,000
+ 2.9%
$175,000
$195,000
+ 11.4%
Current as of June 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 5-2014
By Bedroom Count
5-2015
5-2014
96.1% 96.2%
96.2%
By Property Type
5-2015
95.8%
95.9% 95.1%
95.4%
5-2014
5-2015
95.8%
95.9%
95.6% 93.6%
93.1% 93.3% 92.7%
94.8% 95.1% 95.2%
95.1% 95.0%
92.4%
+ 0.2%
+ 0.1%
- 0.3%
+ 0.3%
+ 1.0%
+ 0.1%
+ 0.2%
+ 0.1%
+ 0.1%
+ 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
Single-Family Homes
By Price Range
5-2014
5-2015
Change
5-2014
5-2015
$100,000 and Below
93.1%
93.3%
+ 0.2%
93.9%
$100,001 to $225,000
96.1%
96.2%
+ 0.1%
96.8%
Condos
Change
5-2014
5-2015
Change
93.9%
0.0%
92.2%
93.8%
+ 4.2%
97.1%
+ 0.3%
92.1%
94.4%
+ 2.5%
$225,001 to $375,000
96.2%
95.9%
- 0.3%
96.8%
96.4%
- 0.4%
93.1%
95.1%
+ 2.1%
$375,001 to $650,000
95.1%
95.4%
+ 0.3%
95.2%
95.6%
+ 0.4%
93.2%
96.6%
+ 3.6%
$650,001 and Above
92.7%
93.6%
+ 1.0%
92.7%
93.5%
+ 0.9%
92.7%
95.6%
+ 3.1%
All Price Ranges
95.3%
95.4%
+ 0.1%
95.8%
95.9%
+ 0.1%
92.4%
94.8%
+ 2.6%
By Bedroom Count
5-2014
5-2015
Change
5-2014
5-2015
Change
5-2014
5-2015
Change
2 Bedrooms or Less
95.0%
95.1%
+ 0.1%
96.8%
96.8%
0.0%
92.7%
94.9%
+ 2.4%
3 Bedrooms
95.6%
95.8%
+ 0.2%
95.9%
96.1%
+ 0.2%
93.1%
94.2%
+ 1.2%
4 Bedrooms or More
95.1%
95.2%
+ 0.1%
95.2%
95.2%
0.0%
84.2%
94.9%
+ 12.7%
All Bedroom Counts
95.3%
95.4%
+ 0.1%
95.8%
95.9%
+ 0.1%
92.4%
94.8%
+ 2.6%
Current as of June 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 5-2014
By Bedroom Count
5-2015
5-2014
By Property Type 5-2014
5-2015
1,866 665
650
669
683
684
544
519
975
948
926
5-2015
1,773
861
785
467
669 820 705
169 114
- 32.5%
- 10.0%
- 18.2%
+ 2.9%
+ 0.1%
- 14.8%
- 2.8%
- 7.0%
- 5.0%
- 14.0%
$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
5-2014
5-2015
Single-Family Homes Change
5-2014
5-2015
Change
Condos 5-2014
5-2015
Change
$100,000 and Below
169
114
- 32.5%
64
33
- 48.4%
105
81
- 22.9%
$100,001 to $225,000
519
467
- 10.0%
286
250
- 12.6%
233
217
- 6.9% - 23.6%
$225,001 to $375,000
665
544
- 18.2%
411
350
- 14.8%
254
194
$375,001 to $650,000
650
669
+ 2.9%
492
525
+ 6.7%
158
144
- 8.9%
$650,001 and Above
683
684
+ 0.1%
613
615
+ 0.3%
70
69
- 1.4%
2,686
2,478
- 7.7%
1,866
1,773
- 5.0%
820
705
- 14.0%
5-2014
5-2015
Change
5-2014
5-2015
Change
5-2014
5-2015
Change
785
669
- 14.8%
162
138
- 14.8%
623
531
- 14.8%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
975
948
- 2.8%
799
788
- 1.4%
176
160
- 9.1%
4 Bedrooms or More
926
861
- 7.0%
905
847
- 6.4%
21
14
- 33.3%
All Bedroom Counts
2,686
2,478
- 7.7%
1,866
1,773
- 5.0%
820
705
- 14.0%
Current as of June 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 5-2014
By Bedroom Count
5-2015
5-2014
By Property Type 5-2014
5-2015
22.2
5-2015
10.4
12.3 19.5
10.9 8.2 7.7
7.5 6.7
10.2
8.6 7.6
7.0
10.4
7.8 4.6
5.7 4.2
5.0
5.8
- 8.7%
- 12.3%
- 25.6%
+ 2.0%
- 12.2%
- 13.0%
- 6.7%
- 11.4%
- 7.3%
- 17.3%
$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
5-2014
5-2015
$100,000 and Below
4.6
$100,001 to $225,000
5.7
Single-Family Homes Change
5-2014
5-2015
Change
4.2
- 8.7%
4.3
3.5
5.0
- 12.3%
4.2
3.7
Condos 5-2014
5-2015
Change
- 18.6%
4.7
4.5
- 4.3%
- 11.9%
10.6
8.1
- 23.6% - 34.1%
$225,001 to $375,000
7.8
5.8
- 25.6%
6.3
4.9
- 22.2%
13.2
8.7
$375,001 to $650,000
10.2
10.4
+ 2.0%
9.5
9.9
+ 4.2%
13.7
12.5
- 8.8%
$650,001 and Above
22.2
19.5
- 12.2%
22.6
19.1
- 15.5%
18.7
23.0
+ 23.0%
All Price Ranges
8.7
7.9
- 9.2%
8.2
7.6
- 7.3%
10.4
8.6
- 17.3%
5-2014
5-2015
Change
5-2014
5-2015
Change
5-2014
5-2015
Change
7.7
6.7
- 13.0%
3.8
3.5
- 7.9%
10.5
8.7
- 17.1%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
7.5
7.0
- 6.7%
7.1
6.8
- 4.2%
10.0
8.3
- 17.0%
4 Bedrooms or More
12.3
10.9
- 11.4%
12.3
10.9
- 11.4%
9.5
7.0
- 26.3%
All Bedroom Counts
8.7
7.9
- 9.2%
8.2
7.6
- 7.3%
10.4
8.6
- 17.3%
Current as of June 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