Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
June 2013
Quick Facts
As summer heat sizzles across much of the nation, the climate isn't the only thing on a hot streak. Housing data continues to impress and the housing market is on-pace to contribute positively to GDP in 2013. For the 12 h period i d spanning i J l 2012 through h hJ di S l iin 12-month July June 2013 2013, P Pending Sales the Hilton Head region were up 15.5 percent overall. The price range with the largest gain in sales was the $225,001 to $375,000 range, where they increased 23.5 percent. The overall Median Sales Price was up 5.5 percent to $237,500. The property type with the largest price gain was the Condo segment, where prices increased 10.3 percent to $175,000. The price range that tended to sell the quickest was the $100,000 and Below range at 93 days; the price range that tended to sell the slowest was the $650,001 and Above range at 182 days. Market-wide, inventory levels were down 15.9 percent. The property type that lost the least inventory was the Condo segment, where it decreased 13.8 percent. That amounts to 7.5 months supply for Single-Family homes and 9.6 months supply for Condos.
+ 23.5%
+ 21.6%
+ 21.5%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$225,001 to $375,000
3 Bedrooms
Single-Family Homes
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
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All data from the Multiple Listing Service 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 6-2012
By Bedroom Count
6-2013
6-2012
By Property Type 6-2012
6-2013
1,107
2,676
1,571 946
6-2013
945 1,288
2,202
1,292
1,192
765 700 558
581
543
807 691 330
998
978
379
- 2.7%
+ 17.0%
+ 23.5%
+ 20.5%
+ 14.8%
+ 8.1%
+ 21.6%
+ 16.8%
+ 21.5%
+ 2.0%
$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
6-2012
6-2013
Single-Family Homes Change
6-2012
6-2013
Change
Condos 6-2012
6-2013
Change
$100,000 and Below
558
543
- 2.7%
231
230
- 0.4%
327
313
- 4.3%
$100,001 to $225,000
946
1,107
+ 17.0%
678
843
+ 24.3%
268
264
- 1.5%
$225,001 to $375,000
765
945
+ 23.5%
552
711
+ 28.8%
213
234
+ 9.9%
$375,001 to $650,000
581
700
+ 20.5%
456
566
+ 24.1%
125
134
+ 7.2%
$650,001 and Above
330
379
+ 14.8%
285
326
+ 14.4%
45
53
+ 17.8%
3,180
3,674
+ 15.5%
2,202
2,676
+ 21.5%
978
998
+ 2.0%
All Price Ranges
By Bedroom Count
6-2012
6-2013
Change
6-2012
6-2013
Change
6-2012
6-2013
Change
2 Bedrooms or Less
1,192
1,288
+ 8.1%
456
552
+ 21.1%
736
736
0.0%
3 Bedrooms
1,292
1,571
+ 21.6%
1,066
1,339
+ 25.6%
226
232
+ 2.7%
4 Bedrooms or More
691
807
+ 16.8%
679
784
+ 15.5%
12
23
+ 91.7%
All Bedroom Counts
3,180
3,674
+ 15.5%
2,202
2,676
+ 21.5%
978
998
+ 2.0%
All data from the Multiple Listing Service 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. | Click for Cover Page | 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 6-2012
By Bedroom Count
6-2013
6-2012
By Property Type 6-2012
6-2013
6-2013
167
182 156
148
135
132 124
123
116
106
129
126 113 94
136
157
210
111
93 116
- 0.7%
- 10.5%
- 13.6%
- 5.1%
- 13.4%
- 14.2%
- 6.3%
- 6.1%
- 12.0%
- 1.1%
$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
6-2012
6-2013
Single-Family Homes Change
6-2012
6-2013
Change
Condos 6-2012
6-2013
Change
$100,000 and Below
94
93
- 0.7%
102
94
- 7.4%
87
92
+ 5.0%
$100,001 to $225,000
126
113
- 10.5%
119
99
- 16.4%
145
154
+ 5.9%
$225,001 to $375,000
129
111
- 13.6%
114
98
- 14.4%
171
152
- 10.9%
$375,001 to $650,000
156
148
- 5.1%
149
146
- 2.2%
184
159
- 13.9%
$650,001 and Above
210
182
- 13.4%
210
184
- 12.3%
207
164
- 20.9%
All Price Ranges
133
121
- 9.0%
132
116
- 12.0%
136
135
- 1.1%
By Bedroom Count
6-2012
6-2013
Change
6-2012
6-2013
Change
6-2012
6-2013
Change
2 Bedrooms or Less
123
106
- 14.2%
104
72
- 30.6%
136
131
- 3.7%
3 Bedrooms
124
116
- 6.3%
122
112
- 8.4%
132
139
+ 5.9%
4 Bedrooms or More
167
157
- 6.1%
167
156
- 6.3%
217
201
- 7.5%
All Bedroom Counts
133
121
- 9.0%
132
116
- 12.0%
136
135
- 1.1%
All data from the Multiple Listing Service 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. | Click for Cover Page | 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 6-2012
By Property Type 6-2012
6-2013 $461,000
6-2013
$450,500
$260,000 $225,220
$272,000
$164,000
$260,000
$237,500
$175,000
$275,000
$158,625
$175,000
+ 6.7%
+ 1.1%
2 Bedrooms or Less
3 Bedrooms
- 2.3%
+ 5.5%
4 Bedrooms or More
All Properties By Bedroom Count
0.0%
All Properties p
+ 10.3%
Single-Family g y Homes
Single-Family Homes
Condos
Condos
6-2012
6-2013
Change
6-2012
6-2013
Change
6-2012
6-2013
Change
2 Bedrooms or Less
$164,000
$175,000
+ 6.7%
$185,500
$192,000
+ 3.5%
$119,500
$148,200
+ 24.0%
3 Bedrooms
$272,000
$275,000
+ 1.1%
$266,555
$275,000
+ 3.2%
$300,000
$299,900
- 0.0%
4 Bedrooms or More
$461,000
$450,500
- 2.3%
$461,000
$450,000
- 2.4%
$562,500
$497,000
- 11.6%
All Bedroom Counts
$225,220
$237,500
+ 5.5%
$260,000
$260,000
0.0%
$158,625
$175,000
+ 10.3%
All data from the Multiple Listing Service 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. | Click for Cover Page | 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 6-2012
By Bedroom Count
6-2013
6-2012
6-2012
96.0%
95.8% 94.7%
By Property Type
6-2013
6-2013
95.5% 95.4%
95.1%
94.8%
94.6%
95.1%
95.0%
93.7%
93.5%
94.5% 94.5% 92.0%
94.2%
94.0%
91.2%
93.3%
93.6%
+ 1.3%
+ 0.8%
+ 1.3%
+ 0.9%
+ 0.9%
+ 1.1%
+ 0.9%
+ 1.5%
+ 1.1%
+ 1.0%
$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
6-2012
6-2013
Single-Family Homes Change
6-2012
6-2013
Change
Condos 6-2012
6-2013
Change
$100,000 and Below
93.5%
94.7%
+ 1.3%
93.5%
94.2%
+ 0.8%
93.6%
95.0%
+ 1.6%
$100,001 to $225,000
95.1%
95.8%
+ 0.8%
95.5%
96.4%
+ 0.9%
94.0%
94.3%
+ 0.3%
$225,001 to $375,000
94.8%
96.0%
+ 1.3%
95.6%
96.7%
+ 1.2%
92.4%
93.9%
+ 1.6%
$375,001 to $650,000
93.7%
94.6%
+ 0.9%
93.9%
94.8%
+ 0.9%
93.0%
93.8%
+ 0.9%
$650,001 and Above
91.2%
92.0%
+ 0.9%
91.2%
92.2%
+ 1.0%
90.7%
91.0%
+ 0.4%
All Price Ranges
94.1%
95.2%
+ 1.1%
94.5%
95.5%
+ 1.1%
93.3%
94.2%
+ 1.0%
By Bedroom Count
6-2012
6-2013
Change
6-2012
6-2013
Change
6-2012
6-2013
Change
2 Bedrooms or Less
94.0%
95.1%
+ 1.1%
95.3%
96.3%
+ 1.1%
93.2%
94.2%
+ 1.0%
3 Bedrooms
94.5%
95.4%
+ 0.9%
94.7%
95.5%
+ 0.8%
93.4%
94.7%
+ 1.4%
4 Bedrooms or More
93.6%
95.0%
+ 1.5%
93.6%
95.1%
+ 1.5%
90.7%
91.9%
+ 1.3%
All Bedroom Counts
94.1%
95.2%
+ 1.1%
94.5%
95.5%
+ 1.1%
93.3%
94.2%
+ 1.0%
All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 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 6-2012
By Bedroom Count
6-2013
6-2012
661 520
679
657
640 539
667
By Property Type 6-2012
6-2013
1,164
577
6-2013
2,014 968
1,673
882
880
755
737 306
929 801 171
- 44.1%
- 21.3%
- 15.8%
- 12.2%
- 1.8%
- 16.3%
- 16.8%
- 14.4%
- 16.9%
- 13.8%
$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
6-2012
6-2013
Single-Family Homes Change
6-2012
6-2013
Change
Condos 6-2012
6-2013
Change
$100,000 and Below
306
171
- 44.1%
116
69
- 40.5%
190
102
- 46.3%
$100,001 to $225,000
661
520
- 21.3%
440
300
- 31.8%
221
220
- 0.5% - 4.1%
$225,001 to $375,000
640
539
- 15.8%
394
303
- 23.1%
246
236
$375,001 to $650,000
657
577
- 12.2%
474
410
- 13.5%
183
167
- 8.7%
$650,001 and Above
679
667
- 1.8%
590
591
+ 0.2%
89
76
- 14.6%
2,943
2,474
- 15.9%
2,014
1,673
- 16.9%
929
801
- 13.8%
6-2012
6-2013
Change
6-2012
6-2013
Change
6-2012
6-2013
Change
880
737
- 16.3%
237
173
- 27.0%
643
564
- 12.3%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
1,164
968
- 16.8%
923
769
- 16.7%
241
199
- 17.4%
4 Bedrooms or More
882
755
- 14.4%
853
731
- 14.3%
29
24
- 17.2%
All Bedroom Counts
2,943
2,474
- 15.9%
2,014
1,673
- 16.9%
929
801
- 13.8%
All data from the Multiple Listing Service 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. | Click for Cover Page | 6
Months Supply of Inventory The inventory of homes for sale at the end of the most recent month, based on one month of activity, divided by the average monthly pending sales from the last 12 months.
By Price Range 6-2012
By Bedroom Count
6-2013
6-2012
By Property Type
6-2013
6-2012
6-2013 11.4
11.0 15.3
24.7
9.6
21.1
8.9
13.6
6.9
10.0
7.5
11.2
10.8
7.4
9.9
8.4 6.6
5.6
6.8
3.8
- 42.6%
- 32.8%
- 31.8%
- 27.1%
- 14.5%
- 22.5%
- 31.6%
- 26.7%
- 31.6%
- 15.5%
$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
6-2012
6-2013
Single-Family Homes Change
6-2012
6-2013
Change
Condos 6-2012
6-2013
Change
$100,000 and Below
6.6
3.8
- 42.6%
6.0
3.6
- 40.3%
7.0
3.9
- 43.9%
$100,001 to $225,000
8.4
5.6
- 32.8%
7.8
4.3
- 45.2%
9.9
10.0
+ 1.1%
$225,001 to $375,000
10.0
6.8
- 31.8%
8.6
5.1
- 40.3%
13.9
12.1
- 12.7%
$375,001 to $650,000
13.6
9.9
- 27.1%
12.5
8.7
- 30.3%
17.6
15.0
- 14.9%
$650,001 and Above
24.7
21.1
- 14.5%
24.8
21.8
- 12.4%
23.7
17.2
- 27.5%
All Price Ranges
11.1
8.1
- 27.2%
11.0
7.5
- 31.6%
11.4
9.6
- 15.5%
By Bedroom Count
6-2012
6-2013
Change
6-2012
6-2013
Change
6-2012
6-2013
Change
2 Bedrooms or Less
8.9
6.9
- 22.5%
6.2
3.8
- 39.7%
10.5
9.2
- 12.3%
3 Bedrooms
10.8
7.4
- 31.6%
10.4
6.9
- 33.7%
12.8
10.3
- 19.6%
4 Bedrooms or More
15.3
11.2
- 26.7%
15.1
11.2
- 25.8%
21.8
10.4
- 52.0%
All Bedroom Counts
11.1
8.1
- 27.2%
11.0
7.5
- 31.6%
11.4
9.6
- 15.5%
All data from the Multiple Listing Service 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. | Click for Cover Page | 7