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®
1
Housing Supply Outlook September 2010 Inventory of Homes for Sale 9-2009
9-2010
Change
3,856 2,653 1,203 1,215
3,544 2,439 1,105 1,086
- 8.1% - 8.1% - 8.1% - 10.6%
Single-Family Condo
304 911
295 791
- 3.0% - 13.2%
All Single-Family Condo 2 Bedrooms and Under
3 Bedrooms
1,441
1,386
- 3.8%
Single-Family Condo
1,174 267
1,097 289
- 6.6% + 8.2%
4 Bedrooms or More
1,200
1,072
- 10.7%
Single-Family Condo
1,175 25
1,047 25
- 10.9% - 0.0%
September 2009
3,856 3,544
1,215
1,441
1,386
1,086
9-2010
Change
All Single-Family Condo 2 Bedrooms and Under
22.8 20.7 29.6 23.1
15.7 15.6 16.0 13.2
- 31.2% - 24.6% - 46.0% - 43.2%
Single-Family Condo
14.8 28.5
11.0 14.2
- 25.6% - 50.3%
3 Bedrooms
19.4
15.5
- 20.3%
Single-Family Condo
17.7 33.0
14.3 22.7
- 19.5% - 31.4%
4 Bedrooms or More
28.2
19.9
- 29.4%
Single-Family Condo
28.1 16.7
19.7 21.4
- 30.0% + 28.6%
1,200
1,072
- 8.1%
- 10.6%
- 3.8%
- 10.7%
All
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
Months Supply of Inventory 9-2009
September 2010
September 2009
September 2010
28.2 23.1
22.8
19.9
19.4 15.7
15.5 13.2
- 31.2%
- 43.2%
- 20.3%
- 29.4%
All
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
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Housing Supply Outlook September 2010 Pending Home Sales Last Twelve Months 10-2008 through 9-2009
10-2009 through 9-2010
Change
2,159 1,622 537 671
2,718 1,882 836 991
+ 25.9% + 16.0% + 55.6% + 47.7%
Single-Family Condo
258 413
322 669
+ 24.8% + 62.0%
3 Bedrooms
938
1,075
+ 14.6%
Single-Family Condo
833 105
922 153
+ 10.7% + 45.7%
4 Bedrooms or More
550
652
+ 18.5%
Single-Family Condo
531 19
638 14
+ 20.2% - 27.1%
All Single-Family Condo 2 Bedrooms and Under
2,718
October 2008 through September 2009
October 2009 through September 2010
2,159
991
938
1,075
671
+ 25.9% All
550
652
+ 47.7%
+ 14.6%
+ 18.5%
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
Percent Of List Price Received Last Twelve Months October 2008 through September 2009
10-2008 through 9-2009
10-2009 through 9-2010
Change
All Single-Family Condo 2 Bedrooms and Under
93.3% 91.5% 93.9% 92.1%
93.8% 93.4% 94.0% 93.6%
+ 0.5% + 2.0% + 0.1% + 1.6%
Single-Family Condo
93.2% 91.4%
93.8% 93.5%
+ 0.6% + 2.2%
3 Bedrooms
94.4%
94.1%
- 0.2%
Single-Family Condo
94.6% 92.2%
94.4% 92.6%
- 0.2% + 0.5%
4 Bedrooms or More
93.1%
93.5%
+ 0.4%
Single-Family Condo
93.1% 91.3%
93.5% 89.9%
+ 0.4% - 1.6%
93.8%
93.3%
+ 0.5% All
92.1%
93.6%
94.4%
+ 1.6% 2 Bedrooms and Under
94.1%
October 2009 through September 2010
93.1%
93.5%
- 0.2%
+ 0.4%
3 Bedrooms
4 Bedrooms or More
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
3
Housing Supply Outlook September 2010 Median Sales Price Last Twelve Months 10-2008 through 9-2009
10-2009 through 9-2010
Change
All Single-Family Condo 2 Bedrooms and Under
$266,500 $275,000 $225,000 $190,000
$245,000 $280,000 $161,000 $162,500
- 8.1% + 1.8% - 28.4% - 14.5%
Single-Family Condo
$185,000 $194,500
$180,000 $128,250
- 2.7% - 34.1%
3 Bedrooms
$282,000 $280,000
- 0.7%
Single-Family Condo
$275,000 $335,000
- 3.6% - 3.0%
4 Bedrooms or More
$475,000 $510,000
+ 7.4%
Single-Family Condo
$473,500 $582,500
+ 6.8% + 22.7%
$265,000 $325,000 $505,875 $715,000
October 2008 through September 2009
October 2009 through September 2010
$510,000 $475,000
$266,500
$282,000 $280,000 $245,000 $190,000
$162,500
- 8.1%
- 14.5%
- 0.7%
All
2 Bedrooms and Under
3 Bedrooms
+ 7.4% 4 Bedrooms or More
Days on Market Until Sale Last Twelve Months 10-2008 through 9-2009
10-2009 through 9-2010
Change
All Single-Family Condo 2 Bedrooms and Under
150 143 171 158
144 146 140 135
- 3.8% + 1.9% - 17.9% - 14.8%
Single-Family Condo
132 175
135 135
+ 1.7% - 22.9%
October 2008 through September 2009
3 Bedrooms
136
136
- 0.3%
Single-Family Condo
133 159
130 169
- 2.5% + 6.3%
4 Bedrooms or More
164
172
+ 4.6%
Single-Family Condo
164 159
172 119
+ 5.0% - 25.5%
October 2009 through September 2010
164
158
150
144
135
136
172
136
- 3.8%
- 14.8%
- 0.3%
+ 4.6%
All
2 Bedrooms and Under
3 Bedrooms
4 Bedrooms or More
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
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Housing Supply Outlook September 2010 Inventory of Homes for Sale All Price Range
9-2009
Single-Family
9-2010
Change
9-2009
Condo
9-2010
Change
9-2009
9-2010
Change
$100,000 and below
248
266
+ 7.3%
65
106
+ 63.1%
183
160
- 12.6%
$100,001 to $225,000
883
796
- 9.9%
568
544
- 4.2%
315
252
- 20.0% + 1.4%
$225,001 to $375,000
741
759
+ 2.4%
450
464
+ 3.1%
291
295
$375,001 to $650,000
928
818
- 11.9%
622
534
- 14.1%
306
284
- 7.2%
$650,001 and above
1,068
919
- 14.0%
951
793
- 16.6%
117
126
+ 7.7%
All Price Ranges
3,868
3,558
- 8.0%
2,656
2,441
- 8.1%
1,212
1,117
- 7.8%
1,068
September 2009 September 2010
928
883
818
796 741
248
919
759
266
+ 7.3% $100,000 and below
- 9.9% $100,001 to $225,000
+ 2.4% $225,001 to $375,000
- 11.9%
- 14.0%
$375,001 to $650,000
$650,001 and above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
5
Housing Supply Outlook September 2010 Months Supply of Inventory All Price Range $100,000 and below
Single-Family
Condo
9-2009
9-2010
Change
9-2009
9-2010
Change
9-2009
9-2010
Change
21.9
6.8
- 69.1%
13.9
8.4
- 39.5%
27.5
6.0
- 78.2%
$100,001 to $225,000
16.5
12.1
- 26.5%
13.9
10.8
- 22.7%
24.5
16.5
- 32.7%
$225,001 to $375,000
16.3
15.5
- 5.2%
13.2
13.3
+ 0.4%
25.9
21.1
- 18.5% - 31.1%
$375,001 to $650,000
26.9
18.8
- 30.1%
23.4
16.3
- 30.5%
38.7
26.6
$650,001 and above
43.2
31.6
- 26.8%
42.4
30.7
- 27.6%
37.6
38.8
+ 3.1%
All Price Ranges
22.8
15.7
- 31.2%
20.7
15.6
- 24.6%
29.6
16.0
- 46.0%
September 2009
September 2010
43.2
31.6 26.9 21.9 18.8 16.5
16.3
15.5
12.1 6.8
- 69.1%
- 26.5%
- 5.2%
- 30.1%
- 26.8%
$100,000 and below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
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Housing Supply Outlook September 2010 Pending Home Sales Last Twelve Months All October 2008 October 2009 through through September 2009 September 2010
Price Range
Single-Family October 2008 October 2009 through through September 2009 September 2010
Change
Condo October 2008 October 2009 through through September 2009 September 2010
Change
Change
$100,000 and below
157
472
+ 200.6%
62
151
+ 143.5%
95
321
+ 237.9%
$100,001 to $225,000
678
790
+ 16.5%
516
607
+ 17.6%
162
183
+ 13.0%
$225,001 to $375,000
561
588
+ 4.8%
415
420
+ 1.2%
146
168
+ 15.1%
$375,001 to $650,000
440
522
+ 18.6%
340
394
+ 15.9%
100
128
+ 28.0%
$650,001 and above
326
349
+ 7.1%
290
310
+ 6.9%
36
39
+ 8.3%
2,162
2,721
+ 25.9%
1,623
1,882
+ 16.0%
539
839
+ 55.7%
All Price Ranges
790
October 2008 through September 2009
October 2009 through September 2010
678 561
588 522
472
440 326
349
157
+ 200.6% $100,000 and below
+ 16.5% $100,001 to $225,000
+ 4.8%
+ 18.6%
+ 7.1%
$225,001 to $375,000
$375,001 to $650,000
$650,001 and above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
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Housing Supply Outlook September 2010 Percent of List Price Received Last Twelve Months All October 2008 October 2009 through through September 2009 September 2010
Price Range
Single-Family
Condo
October 2008 October 2009 through through September 2009 September 2010
Change
Change
October 2008 October 2009 through through September 2009 September 2010
Change
$100,000 and below
92.6%
95.0%
+ 2.6%
94.7%
93.8%
- 0.9%
91.2%
95.5%
+ 4.7%
$100,001 to $225,000
94.7%
94.9%
+ 0.2%
95.9%
95.8%
- 0.1%
91.0%
92.2%
+ 1.3%
$225,001 to $375,000
93.9%
93.7%
- 0.2%
94.5%
94.4%
- 0.1%
91.9%
92.0%
+ 0.1%
$375,001 to $650,000
93.3%
93.3%
- 0.0%
93.6%
93.7%
+ 0.0%
92.3%
92.1%
- 0.3%
$650,001 and above
89.7%
91.1%
+ 1.5%
89.7%
90.9%
+ 1.4%
90.5%
92.6%
+ 2.4%
All Price Ranges
93.3%
93.8%
+ 0.5%
91.5%
93.4%
+ 2.0%
93.9%
94.0%
+ 0.1%
October 2008 through September 2009
95.0%
94.7%
October 2009 through September 2010
94.9% 93.9%
93.7%
92.6%
93.3%
93.3% 91.1% 89.7%
+ 2.6%
+ 0.2%
- 0.2%
- 0.0%
+ 1.5%
$100,000 and below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
8
Housing Supply Outlook September 2010 Days on Market Until Sale Last Twelve Months All October 2008 October 2009 through through September 2009 September 2010
Price Range
Single-Family October 2008 October 2009 through through September 2009 September 2010
Change
Condo October 2008 October 2009 through through September 2009 September 2010
Change
Change
$100,000 and below
98
75
- 23.4%
80
82
+ 2.5%
111
73
$100,001 to $225,000
127
124
- 2.6%
119
115
- 3.2%
153
152
- 0.8%
$225,001 to $375,000
152
138
- 9.4%
138
125
- 9.3%
196
167
- 14.5%
$375,001 to $650,000
165
187
+ 13.1%
151
175
+ 15.9%
212
229
+ 8.2%
$650,001 and above
197
209
+ 6.1%
199
212
+ 6.6%
181
185
+ 2.2%
All Price Ranges
150
144
- 3.8%
143
146
+ 1.9%
171
140
- 17.9%
October 2008 through September 2009
- 34.5%
October 2009 through September 2010
187
197
209
165 152 127
138 124
98 75
- 23.4%
- 2.6%
- 9.4%
+ 13.1%
+ 6.1%
$100,000 and below
$100,001 to $225,000
$225,001 to $375,000
$375,001 to $650,000
$650,001 and above
All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速
9