September 2010 For the twelve-month period from October 2009 through September 2010, Pending Sales for condo properties increased 55.6 percent with 537 contracts written. Single-family percent during g y Pending g Sales increased 16.0 p g the same period. The $100,000 and below price range had a huge jump in activity compared to the previous twelve-month period driven by condo sales. Because this market is smaller in terms of actual units, the percentage changes are much more dramatic. There were 95 condos sold between October 2008 and September 2009, and 321 condos sold between October 2009 and September 2010. Inventory is an important metric to watch these days. Inventory across all property types fell 8.1 percent, due to the uptick in pending sales activity. Three bedroom condos were the only property type to have an increase in this metric, up 8.2 percent with 289 homes for sale. Let’s not forget about prices. The median sales price of single-family homes increased 1.8% to arrive at $280,000, while condo prices fell 28.4 percent to land at $161,000 – yet another reason condos saw so much activity.
Number of Bedrooms Analysis Inventory Months Supply Home Sales Percent of List Price Received Median Sales Price Days on Market Until Sale
2 2 3 3 4 4
Price Range Analysis Inventory Months Supply Home Sales Percent of List Price Received Days on Market Until Sale
5 6 7 8 9
All data provided by Multiple Listing Service of Hilton Head Island ©2010 HHIMLS - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS®
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