Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速
June 2012
Quick Facts
After a few head fakes, even cynical commentators agree that residential real estate may finally be clawing out from a multi-year valley. For the 12month period spanning July 2011 through June 2012, Pending Sales in i ih h Hil H d region i were up 16.7 5 1 percent overall. ll Th the Hilton Head The price range with the largest gain in sales was the $100,001 to $225,000 range, where they increased 24.3 percent. The overall Median Sales Price was down 4.2 percent to $220,000. The property type with the largest price gain was the Condo segment, where prices increased 14.1 percent to $158,625. The price range that tended to sell the quickest was the $100,000 and Below range at 94 days; the price range that tended to sell the slowest was the $650,001 and Above range at 210 days. Market-wide, inventory levels were down 19.8 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 18.7 percent. That amounts to 9.6 months supply for SingleFamily homes and 10.3 months supply for Condos.
+ 24.3%
+ 23.6%
+ 18.8%
Price Range With the Strongest Sales:
Bedroom Count With Strongest Sales:
Property Type With Strongest Sales:
$100,001 to $225,000
2 Bedrooms or Less
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
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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 6-2011
By Bedroom Count
6-2012
6-2011
By Property Type 6-2011
6-2012
6-2012 2,274
1,339
973
1,963
1,211 1,120
790
783
980 645
561
596
575 515
689
713
994 837
296
334
+ 2.5%
+ 24.3%
+ 22.5%
+ 15.7%
+ 12.8%
+ 23.6%
+ 19.6%
+ 3.5%
+ 15.8%
+ 18.8%
$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
6-2011
6-2012
Single-Family Homes Change
6-2011
6-2012
Condos
Change
6-2011
6-2012
Change
$100,000 and Below
561
575
+ 2.5%
218
239
+ 9.6%
343
336
- 2.0%
$100,001 to $225,000
783
973
+ 24.3%
587
703
+ 19.8%
196
270
+ 37.8%
$225,001 to $375,000
645
790
+ 22.5%
487
573
+ 17.7%
158
217
+ 37.3%
$375,001 to $650,000
515
596
+ 15.7%
416
470
+ 13.0%
99
126
+ 27.3%
$650,001 and Above
296
334
+ 12.8%
255
289
+ 13.3%
41
45
+ 9.8%
2,800
3,268
+ 16.7%
1,963
2,274
+ 15.8%
837
994
+ 18.8%
6-2011
6-2012
Change
6-2011
6-2012
Change
6-2011
6-2012
Change
980
1,211
+ 23.6%
333
461
+ 38.4%
647
750
+ 15.9%
All Price Ranges
By Bedroom Count 2 Bedrooms or Less 3 Bedrooms
1,120
1,339
+ 19.6%
948
1,111
+ 17.2%
172
228
+ 32.6%
4 Bedrooms or More
689
713
+ 3.5%
681
701
+ 2.9%
8
12
+ 50.0%
All Bedroom Counts
2,800
3,268
+ 16.7%
1,963
2,274
+ 15.8%
837
994
+ 18.8%
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 | 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 6-2011
By Bedroom Count
6-2012
6-2011
By Property Type 6-2011
6-2012
6-2012
167 203
158
210
139 137 127
160 139
132 100
126
123
138
124
156
136
129
94 132
- 6.2%
- 4.2%
- 7.5%
- 2.4%
+ 3.2%
- 3.0%
- 9.6%
+ 5.8%
- 5.4%
- 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
6-2011
6-2012
Single-Family Homes Change
6-2011
6-2012
Change
Condos 6-2011
6-2012
Change
$100,000 and Below
100
94
- 6.2%
102
102
- 0.5%
98
87
- 10.8%
$100,001 to $225,000
132
126
- 4.2%
130
119
- 8.5%
136
145
+ 6.4%
$225,001 to $375,000
139
129
- 7.5%
123
114
- 7.3%
188
171
- 8.8%
$375,001 to $650,000
160
156
- 2.4%
152
149
- 1.7%
195
184
- 5.5%
$650,001 and Above
203
210
+ 3.2%
206
210
+ 1.7%
178
207
+ 16.7%
All Price Ranges
139
133
- 4.1%
139
132
- 5.4%
138
136
- 1.1%
By Bedroom Count
6-2011
6-2012
Change
6-2011
6-2012
Change
6-2011
6-2012
Change
2 Bedrooms or Less
127
123
- 3.0%
115
104
- 9.2%
133
136
+ 2.3%
3 Bedrooms
137
124
- 9.6%
134
122
- 8.9%
153
132
- 13.7%
4 Bedrooms or More
158
167
+ 5.8%
158
167
+ 5.6%
201
217
+ 8.1%
All Bedroom Counts
139
133
- 4.1%
139
132
- 5.4%
138
136
- 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 6-2011
By Property Type 6-2011
6-2012 $470,000
6-2012
$461,000
$270,195 $235,000
$266,756
$260,000
$225,220
$272,000
$158,625 $139,000
$147,000
$164,000
+ 11.6%
+ 2.0%
2 Bedrooms or Less
3 Bedrooms
- 1.9%
- 4.2%
4 Bedrooms or More
All Properties By Bedroom Count
- 3.8%
All Properties p
Single-Family g y Homes
Single-Family Homes
+ 14.1% Condos
Condos
6-2011
6-2012
Change
6-2011
6-2012
Change
6-2011
6-2012
Change
2 Bedrooms or Less
$147,000
$164,000
+ 11.6%
$170,000
$185,500
+ 9.1%
$112,000
$119,500
+ 6.7%
3 Bedrooms
$266,756
$272,000
+ 2.0%
$259,500
$266,555
+ 2.7%
$290,000
$300,000
+ 3.4%
4 Bedrooms or More
$470,000
$461,000
- 1.9%
$470,000
$461,000
- 1.9%
$550,000
$562,500
+ 2.3%
All Bedroom Counts
$235,000
$225,220
- 4.2%
$270,195
$260,000
- 3.8%
$139,000
$158,625
+ 14.1%
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 | 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 6-2011
By Bedroom Count
6-2012
6-2011
By Property Type 6-2011
6-2012
6-2012
94.5%
95.1% 94.5%
94.8% 94.4% 93.9% 93.5%
93.9% 93.7% 93.7%
94.0% 93.7%
92.0%
93.3%
93.6% 93.6%
92.0% 91.2%
92.4%
93.1%
+ 1.7%
+ 0.7%
+ 0.9%
- 0.0%
- 0.9%
+ 1.0%
+ 0.8%
- 0.1%
+ 0.6%
+ 0.9%
$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
6-2011
6-2012
Single-Family Homes Change
6-2011
6-2012
Change
Condos 6-2011
6-2012
Change
$100,000 and Below
92.0%
93.5%
+ 1.7%
90.8%
93.5%
+ 3.0%
92.7%
93.6%
+ 0.9%
$100,001 to $225,000
94.4%
95.1%
+ 0.7%
95.0%
95.5%
+ 0.5%
92.7%
94.0%
+ 1.5%
$225,001 to $375,000
93.9%
94.8%
+ 0.9%
94.7%
95.6%
+ 0.9%
91.6%
92.4%
+ 0.9%
$375,001 to $650,000
93.7%
93.7%
- 0.0%
94.1%
93.9%
- 0.2%
92.2%
93.0%
+ 0.9%
$650,001 and Above
92.0%
91.2%
- 0.9%
92.0%
91.2%
- 0.9%
91.9%
90.7%
- 1.4%
All Price Ranges
93.5%
94.1%
+ 0.7%
93.9%
94.5%
+ 0.6%
92.4%
93.3%
+ 0.9%
By Bedroom Count
6-2011
6-2012
Change
6-2011
6-2012
Change
6-2011
6-2012
Change
2 Bedrooms or Less
93.1%
94.0%
+ 1.0%
94.0%
95.3%
+ 1.3%
92.6%
93.2%
+ 0.7%
3 Bedrooms
93.7%
94.5%
+ 0.8%
94.0%
94.7%
+ 0.8%
92.0%
93.4%
+ 1.5%
4 Bedrooms or More
93.6%
93.6%
- 0.1%
93.7%
93.6%
- 0.0%
90.2%
90.7%
+ 0.6%
All Bedroom Counts
93.5%
94.1%
+ 0.7%
93.9%
94.5%
+ 0.6%
92.4%
93.3%
+ 0.9%
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 6-2011
By Bedroom Count
6-2012
6-2011
By Property Type 6-2011
6-2012 1,283
779
709
1,065
1,045
635 557
2,233
761
757
742
6-2012
1,816
963
563 805
803
1,095 853
289 205
- 29.1%
- 28.5%
- 24.1%
- 16.1%
- 6.8%
- 24.6%
- 18.6%
- 16.4%
- 18.7%
- 22.1%
$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
Single-Family Homes
6-2011
6-2012
Change
6-2011
$100,000 and Below
289
205
- 29.1%
$100,001 to $225,000
779
557
- 28.5%
$225,001 to $375,000
742
563
$375,001 to $650,000
757
635
$650,001 and Above
761
All Price Ranges
By Bedroom Count
Condos
6-2012
Change
6-2011
6-2012
Change
126
69
- 45.2%
163
136
- 16.6%
535
368
- 31.2%
244
189
- 22.5%
- 24.1%
411
324
- 21.2%
331
239
- 27.8%
- 16.1%
517
442
- 14.5%
240
193
- 19.6%
709
- 6.8%
644
613
- 4.8%
117
96
- 17.9%
3,328
2,669
- 19.8%
2,233
1,816
- 18.7%
1,095
853
- 22.1%
6-2011
6-2012
Change
6-2011
6-2012
Change
6-2011
6-2012
Change
2 Bedrooms or Less
1,065
803
- 24.6%
306
221
- 27.8%
759
582
- 23.3%
3 Bedrooms
1,283
1,045
- 18.6%
994
816
- 17.9%
289
229
- 20.8%
4 Bedrooms or More
963
805
- 16.4%
932
778
- 16.5%
31
27
- 12.9%
All Bedroom Counts
3,328
2,669
- 19.8%
2,233
1,816
- 18.7%
1,095
853
- 22.1%
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 | 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 6-2011
By Bedroom Count
6-2012
6-2011
6-2011
15.7 25.5
13.7
13.0
13.5
13.7
10.3
9.6
9.4
17.6 8.0
13.8
12.8
11.9 6.9
6-2012
16.8
30.9
6.2
By Property Type
6-2012
8.6
4.3
- 30.8%
- 42.5%
- 38.1%
- 27.5%
- 17.4%
- 39.0%
- 31.9%
- 19.2%
- 29.8%
- 34.4%
$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
6-2011
6-2012
Single-Family Homes Change
6-2011
6-2012
Change
Condos 6-2011
6-2012
Change
$100,000 and Below
6.2
4.3
- 30.8%
6.9
3.5
- 50.0%
5.7
4.9
- 14.8%
$100,001 to $225,000
11.9
6.9
- 42.5%
10.9
6.3
- 42.6%
14.9
8.4
- 43.8%
$225,001 to $375,000
13.8
8.6
- 38.1%
10.1
6.8
- 33.0%
25.1
13.2
- 47.4%
$375,001 to $650,000
17.6
12.8
- 27.5%
14.9
11.3
- 24.3%
29.1
18.4
- 36.8%
$650,001 and Above
30.9
25.5
- 17.4%
30.3
25.5
- 16.0%
34.2
25.6
- 25.2%
All Price Ranges
14.3
9.8
- 31.3%
13.7
9.6
- 29.8%
15.7
10.3
- 34.4%
By Bedroom Count
6-2011
6-2012
Change
6-2011
6-2012
Change
6-2011
6-2012
Change
2 Bedrooms or Less
13.0
8.0
- 39.0%
11.0
5.8
- 47.8%
14.1
9.3
- 33.9%
3 Bedrooms
13.7
9.4
- 31.9%
12.6
8.8
- 30.0%
20.2
12.1
- 40.2%
4 Bedrooms or More
16.8
13.5
- 19.2%
16.4
13.3
- 18.9%
27.1
20.3
- 25.3%
All Bedroom Counts
14.3
9.8
- 31.3%
13.7
9.6
- 29.8%
15.7
10.3
- 34.4%
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