Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
September 2013
Quick Facts
So just how is the market, you ask? Well, buyers are buying, sellers are selling, lenders are lending and builders are building. This recovery is robust enough to forge onward despite interest rate risk and political idl k For F the h 12-month 12 h period i d spanning i October O b 2012 through h h gridlock. September 2013, Pending Sales in the Hilton Head region were up 15.2 percent overall. The price range with the largest gain in sales was the $375,001 to $650,000 range, where they increased 31.8 percent. The overall Median Sales Price was up 11.1 percent to $250,000. The property type with the largest price gain was the Condo segment, where prices increased 20.6 percent to $186,875. The price range that tended to sell the quickest was the $100,000 and Below range at 103 days; the price range that tended to sell the slowest was the $650,001 and Above range at 183 days. Market-wide, inventory levels were down 17.0 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 16.8 percent. That amounts to 7.0 months supply for SingleFamily homes and 8.9 months supply for Condos.
+ 31.8%
+ 22.8%
+ 21.4%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$375,001 to $650,000
4 Bedrooms or More
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 9-2012
By Bedroom Count
9-2013
9-2012
By Property Type 9-2012
9-2013
9-2013 2,789
1,654 1,145 1,018
1,002
1,250
804
1,301
2,298
1,360
766 847
586
581
690
502
1,008
1,020
394 317
- 14.3%
+ 12.5%
+ 24.6%
+ 31.8%
+ 24.3%
+ 4.1%
+ 21.6%
+ 22.8%
+ 21.4%
+ 1.2%
$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
9-2012
$100,000 and Below
9-2013
Single-Family Homes Change
9-2012
9-2013
Condos
Change
9-2012
9-2013
Change
586
502
- 14.3%
239
211
- 11.7%
347
291
- 16.1%
$100,001 to $225,000
1,018
1,145
+ 12.5%
732
874
+ 19.4%
286
271
- 5.2%
$225,001 to $375,000
804
1,002
+ 24.6%
585
756
+ 29.2%
219
246
+ 12.3%
$375,001 to $650,000
581
766
+ 31.8%
468
609
+ 30.1%
113
157
+ 38.9%
$650,001 and Above
317
394
+ 24.3%
274
339
+ 23.7%
43
55
+ 27.9%
3,306
3,809
+ 15.2%
2,298
2,789
+ 21.4%
1,008
1,020
+ 1.2%
All Price Ranges
By Bedroom Count
9-2012
9-2013
Change
9-2012
9-2013
Change
9-2012
9-2013
Change
2 Bedrooms or Less
1,250
1,301
+ 4.1%
481
564
+ 17.3%
769
737
- 4.2%
3 Bedrooms
1,360
1,654
+ 21.6%
1,141
1,399
+ 22.6%
219
255
+ 16.4%
4 Bedrooms or More
690
847
+ 22.8%
675
825
+ 22.2%
15
22
+ 46.7%
All Bedroom Counts
3,306
3,809
+ 15.2%
2,298
2,789
+ 21.4%
1,008
1,020
+ 1.2%
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 9-2012
By Bedroom Count
9-2013
9-2012
By Property Type 9-2012
9-2013
9-2013
167 157 183 121
160
109
103
105
142
131
124
120
138
135
129
199
113 113
105
84
+ 21.5%
- 12.0%
- 19.8%
- 11.5%
- 8.0%
- 13.4%
- 6.3%
- 5.6%
- 11.9%
+ 2.5%
$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
9-2012
9-2013
Change
9-2012
9-2013
Change
$100,000 and Below
84
103
$100,001 to $225,000
124
109
+ 21.5%
91
101
- 12.0%
114
97
Condos 9-2012
9-2013
Change
+ 10.4%
79
104
+ 30.8%
- 14.6%
149
148
- 0.8%
$225,001 to $375,000
131
105
- 19.8%
115
92
- 19.7%
177
142
- 19.6%
$375,001 to $650,000
160
142
- 11.5%
156
137
- 12.1%
182
165
- 8.9%
$650,001 and Above
199
183
- 8.0%
200
182
- 8.9%
191
186
- 2.4%
All Price Ranges
130
120
- 8.1%
129
113
- 11.9%
135
138
+ 2.5%
By Bedroom Count
9-2012
9-2013
Change
9-2012
9-2013
Change
9-2012
9-2013
Change
2 Bedrooms or Less
121
105
- 13.4%
100
69
- 30.9%
134
133
- 0.8%
3 Bedrooms
120
113
- 6.3%
119
107
- 10.1%
126
145
+ 14.8%
4 Bedrooms or More
167
157
- 5.6%
165
156
- 5.6%
269
208
- 22.7%
All Bedroom Counts
130
120
- 8.1%
129
113
- 11.9%
135
138
+ 2.5%
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 | 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 9-2012
By Property Type 9-2012
9-2013 $475,000
9-2013
$470,000 $250,000
$258,000
$268,000
$225,000 $186,875 $287,233 $262,000
$165,000
$155,000
$176,250
+ 6.8%
+ 9.6%
2 Bedrooms or Less
3 Bedrooms
- 1.1%
+ 11.1%
4 Bedrooms or More
All Properties By Bedroom Count
+ 3.9%
All Properties p
Single-Family g y Homes
Single-Family Homes
+ 20.6% Condos
Condos
9-2012
9-2013
Change
9-2012
9-2013
Change
9-2012
9-2013
Change
2 Bedrooms or Less
$165,000
$176,250
+ 6.8%
$185,000
$190,133
+ 2.8%
$125,000
$152,750
+ 22.2%
3 Bedrooms
$262,000
$287,233
+ 9.6%
$260,000
$284,155
+ 9.3%
$268,000
$310,000
+ 15.7%
4 Bedrooms or More
$475,000
$470,000
- 1.1%
$475,000
$472,500
- 0.5%
$497,000
$445,000
- 10.5%
All Bedroom Counts
$225,000
$250,000
+ 11.1%
$258,000
$268,000
+ 3.9%
$155,000
$186,875
+ 20.6%
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 9-2012
By Bedroom Count
9-2013
9-2012
95.0%
95.2%
9-2012
95.6%
94.9%
95.2%
94.8%
95.2% 94.6%
93.8%
93.7%
9-2013 95.7%
96.1%
96.1%
By Property Type
9-2013
94.4%
94.6% 92.4%
94.2% 93.8%
91.2%
93.5%
+ 1.4%
+ 0.9%
+ 1.3%
+ 1.0%
+ 1.3%
+ 1.1%
+ 1.0%
+ 1.4%
+ 1.2%
+ 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
9-2012
9-2013
Single-Family Homes Change
9-2012
9-2013
Change
Condos 9-2012
9-2013
Change
$100,000 and Below
93.7%
95.0%
+ 1.4%
93.7%
94.9%
+ 1.3%
93.6%
95.1%
+ 1.5%
$100,001 to $225,000
95.2%
96.1%
+ 0.9%
95.7%
96.6%
+ 0.9%
94.1%
94.5%
+ 0.4%
$225,001 to $375,000
94.9%
96.1%
+ 1.3%
95.6%
96.8%
+ 1.3%
92.9%
94.1%
+ 1.3%
$375,001 to $650,000
93.8%
94.8%
+ 1.0%
93.9%
95.0%
+ 1.1%
93.3%
94.0%
+ 0.7%
$650,001 and Above
91.2%
92.4%
+ 1.3%
91.3%
92.4%
+ 1.2%
90.7%
92.4%
+ 1.8%
All Price Ranges
94.3%
95.4%
+ 1.2%
94.6%
95.7%
+ 1.2%
93.5%
94.4%
+ 1.0%
By Bedroom Count
9-2012
9-2013
Change
9-2012
9-2013
Change
9-2012
9-2013
Change
2 Bedrooms or Less
94.2%
95.2%
+ 1.1%
95.4%
96.4%
+ 1.1%
93.4%
94.3%
+ 1.0%
3 Bedrooms
94.6%
95.6%
+ 1.0%
94.8%
95.7%
+ 1.0%
93.8%
94.6%
+ 0.9%
4 Bedrooms or More
93.8%
95.2%
+ 1.4%
93.9%
95.2%
+ 1.5%
92.2%
93.0%
+ 0.9%
All Bedroom Counts
94.3%
95.4%
+ 1.2%
94.6%
95.7%
+ 1.2%
93.5%
94.4%
+ 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 9-2012
By Bedroom Count
9-2013
9-2012
By Property Type 9-2012
9-2013
9-2013
1,123 648
632
666
627
693 1,951
934
582
869
861
1,623
765
506 446
669
297
919 759 155
- 47.8%
- 29.4%
- 21.9%
- 7.2%
+ 4.1%
- 22.3%
- 16.8%
- 12.0%
- 16.8%
- 17.4%
$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
9-2012
9-2013
Single-Family Homes Change
9-2012
9-2013
Change
Condos 9-2012
9-2013
Change
$100,000 and Below
297
155
- 47.8%
125
56
- 55.2%
172
99
- 42.4%
$100,001 to $225,000
632
446
- 29.4%
402
245
- 39.1%
230
201
- 12.6%
$225,001 to $375,000
648
506
- 21.9%
396
298
- 24.7%
252
208
- 17.5%
$375,001 to $650,000
627
582
- 7.2%
452
407
- 10.0%
175
175
0.0%
$650,001 and Above
666
693
+ 4.1%
576
617
+ 7.1%
90
76
- 15.6%
2,870
2,382
- 17.0%
1,951
1,623
- 16.8%
919
759
- 17.4%
9-2012
9-2013
Change
9-2012
9-2013
Change
9-2012
9-2013
Change
861
669
- 22.3%
217
139
- 35.9%
644
530
- 17.7%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
1,123
934
- 16.8%
889
740
- 16.8%
234
194
- 17.1%
4 Bedrooms or More
869
765
- 12.0%
843
744
- 11.7%
26
21
- 19.2%
All Bedroom Counts
2,870
2,382
- 17.0%
1,951
1,623
- 16.8%
919
759
- 17.4%
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 9-2012
By Bedroom Count
9-2013
9-2012
By Property Type
9-2013
9-2012
9-2013
15.1
10.9 10.2
25.2
8.9
21.1
10.8 9.9
7.0
8.3 13.0 6.2 9.7 7.4
6.1
4.7
3.7
6.8
9.1 6.1
- 39.1%
- 37.3%
- 37.3%
- 29.6%
- 16.3%
- 25.3%
- 31.6%
- 28.3%
- 31.5%
- 18.4%
$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
9-2012
9-2013
Single-Family Homes Change
9-2012
9-2013
Change
Condos 9-2012
9-2013
Change
$100,000 and Below
6.1
3.7
- 39.1%
6.3
3.2
- 49.3%
5.9
4.1
- 31.4%
$100,001 to $225,000
7.4
4.7
- 37.3%
6.6
3.4
- 49.0%
9.7
8.9
- 7.8%
$225,001 to $375,000
9.7
6.1
- 37.3%
8.1
4.7
- 41.8%
13.8
10.1
- 26.5%
$375,001 to $650,000
13.0
9.1
- 29.6%
11.6
8.0
- 30.8%
18.6
13.4
- 28.0%
$650,001 and Above
25.2
21.1
- 16.3%
25.2
21.8
- 13.4%
25.1
16.6
- 34.0%
All Price Ranges
10.4
7.5
- 28.0%
10.2
7.0
- 31.5%
10.9
8.9
- 18.4%
9-2012
9-2013
Change
9-2012
9-2013
Change
9-2012
9-2013
Change
8.3
6.2
- 25.3%
5.4
3.0
- 45.4%
10.0
8.6
- 14.1%
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
9.9
6.8
- 31.6%
9.3
6.3
- 32.1%
12.8
9.1
- 28.8%
4 Bedrooms or More
15.1
10.8
- 28.3%
15.0
10.8
- 27.8%
17.3
8.6
- 50.4%
All Bedroom Counts
10.4
7.5
- 28.0%
10.2
7.0
- 31.5%
10.9
8.9
- 18.4%
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