Monthly Indicators + 8.8% + 4.3% - 3.6% Market Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price

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1 Monthly Indicators 2015 The third quarter of 2015 has ticked its last tock with the hands pointing firmly upon a reliable clock of a market. Although noon and 6:30 fluctuations are present even within the same states and cities, the overall tempo of real estate potential is experiencing a healthy number of good omens. The job market has shown continual improvement, jobless rates are down, real average hourly and weekly earnings have been up and there has been good news in new household formation. Quick Facts + 8.8% + 4.3% - 3.6% One-Year Change in Closed Sales One-Year Change in Median Sales Price One-Year Change in Months Supply A research tool provided by the Greater Greenville Association of REALTORS Percent changes are calculated using rounded figures. New Listings were down 3.8 percent to 1,265. Pending Sales decreased 45.6 percent to 471. Inventory shrank 3.6 percent to 5,131 units. Prices moved higher as Median Sales Price was up 4.3 percent to $170,000. Days on Market decreased 5.6 percent to 68 days. Months Supply of Inventory was down 12.5 percent to 5.6 months, indicating that demand increased relative to supply. With positive economic news coming from many angles, there are no imminent factors to prepare for beyond the typical seasonal drop-off. From the mouths of market-analyzing pundits, we are in the midst of one of the healthiest housing markets in the past 15 years. The one thing we were anticipating in, an increase in interest rates, did not happen. It most likely will before year's end. Until then, get out and enjoy the season. Market Overview New Listings Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 1

2 Market Overview Key market metrics for the current month and year-to-date figures. Key Metrics Historical Sparkbars Percent Change YTD 2014 YTD 2015 Percent Change New Listings 1,315 1, % 12,959 12, % Pending Sales % 8,215 8, % Closed Sales 980 1, % 7,693 9, % Days on Market % % Median Sales Price $163,000 $170, % $159,000 $170, % Average Sales Price $195,273 $194, % $190,935 $201, % Pct. of List Price Received 96.2% 97.0% + 0.8% 96.3% 97.0% + 0.7% Housing Affordability Index % % Inventory of Homes for Sale 5,321 5, % Months Supply of Inventory % Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 2

3 New Listings A count of the properties that have been newly listed on the market in a given month. Year to Date 1,315 1,223 1,265 12,959 12,993 12, % + 7.5% - 3.8% % + 5.9% + 0.3% New Listings Prior Year Percent Change October ,324 1, % November % December % January ,227 1, % February ,219 1, % March ,513 1, % April ,695 1, % May ,582 1, % June ,491 1, % July ,552 1, % August ,449 1, % ,265 1, % 12-Month Avg 1,338 1, % Historical New Listings by Month 2,000 1,800 1,600 1,400 1,200 1, Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 3

4 Pending Sales A count of the properties on which offers have been accepted in a given month. Year to Date 866 8,806 8, , % % % % + 7.3% + 7.2% Pending Sales Prior Year Percent Change October % November % December % January % February % March , % April , % May ,090 1, % June , % July , % August , % % 12-Month Avg % Historical Pending Sales by Month 1,400 1,200 1, Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 4

5 Closed Sales A count of the actual sales that closed in a given month. Year to Date 1,066 9, ,693 7, % % + 8.8% % + 5.2% % Closed Sales Prior Year Percent Change October % November % December % January % February % March , % April % May , % June ,250 1, % July , % August ,105 1, % , % 12-Month Avg % Historical Closed Sales by Month 1,400 1,200 1, Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 5

6 Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month. Year to Date Historical Days on Market Until Sale by Month - 7.6% % - 5.6% % - 8.9% -8.5% Days on Market Prior Year Percent Change October % November % December % January % February % March % April % May % June % July % August % % 12-Month Avg* % * Average Days on Market of all properties from October 2014 through This is not the average of the individual figures above Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 6

7 Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. Year to Date $170,000 $170,000 $163,000 $155,041 $154,900 $159,000 Historical Median Sales Price by Month + 6.2% + 5.1% + 4.3% + 5.0% + 2.6% + 6.9% Median Sales Price Prior Year Percent Change October 2014 $161,950 $152, % November 2014 $163,054 $153, % December 2014 $160,900 $151, % January 2015 $160,042 $150, % February 2015 $160,000 $151, % March 2015 $162,500 $152, % April 2015 $165,000 $148, % May 2015 $171,100 $159, % June 2015 $178,900 $168, % July 2015 $176,750 $167, % August 2015 $169,000 $163, % 2015 $170,000 $163, % 12-Month Med* $168,050 $157, % * Median Sales Price of all properties from October 2014 through This is not the median of the individual figures above. $180,000 $170,000 $160,000 $150,000 $140,000 $130,000 $120, Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 7

8 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. Year to Date $195,273 $194,299 $201,833 $183,821 $190,935 $182,632 Historical Average Sales Price by Month + 8.6% + 6.2% - 0.5% + 3.5% + 4.5% + 5.7% Avg. Sales Price Prior Year Percent Change October 2014 $189,715 $175, % November 2014 $185,120 $185, % December 2014 $192,346 $184, % January 2015 $189,084 $175, % February 2015 $186,965 $177, % March 2015 $192,542 $193, % April 2015 $199,262 $182, % May 2015 $202,566 $194, % June 2015 $216,116 $201, % July 2015 $209,753 $195, % August 2015 $210,813 $189, % 2015 $194,299 $195, % 12-Month Avg* $197,382 $187, % * Avg. Sales Price of all properties from October 2014 through This is not the average of the individual figures above. $220,000 $210,000 $200,000 $190,000 $180,000 $170,000 $160,000 $150, Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 8

9 Percent of List Price Received Percentage found when dividing a property s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. Year to Date 96.3% 96.2% 97.0% 96.1% 96.3% 97.0% Historical Percent of List Price Received by Month + 0.2% - 0.1% + 0.8% + 0.8% + 0.2% + 0.7% Pct. of List Price Received Prior Year Percent Change October % 95.8% +0.4% November % 95.9% +0.1% December % 96.0% +0.1% January % 95.6% +0.7% February % 95.4% +1.0% March % 96.4% +0.5% April % 96.3% +1.1% May % 96.4% +0.8% June % 96.5% +0.9% July % 96.4% +0.4% August % 96.7% +0.4% % 96.2% +0.8% 12-Month Avg* 96.8% 96.2% +0.6% * Average Pct. of List Price Received for all properties from October 2014 through This is not the average of the individual figures above. 98.0% 97.0% 96.0% 95.0% 94.0% 93.0% 92.0% 91.0% Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 9

10 Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability. Year to Date % - 3.3% - 1.4% % - 1.3% -3.3% Affordability Index Prior Year Percent Change October % November % December % January % February % March % April % May % June % July % August % % 12-Month Avg % Historical Housing Affordability Index by Month Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 10

11 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 5,353 5,321 5, % -3.6% -2.3% -0.6% Historical Inventory of Homes for Sale by Month -3.6% Homes for Sale Prior Year Percent Change October ,244 5, % November ,040 5, % December ,679 4, % January ,559 4, % February ,536 4, % March ,578 5, % April ,683 5, % May ,778 5, % June ,790 5, % July ,796 5, % August ,838 5, % ,131 5, % 12-Month Avg* 4,804 5, % * Homes for Sale for all properties from October 2014 through This is not the average of the individual figures above. 8,000 7,000 6,000 5,000 4, Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 11

12 Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months % -5.9% % Historical Months Supply of Inventory by Month Months Supply Prior Year Percent Change October % November % December % January % February % March % April % May % June % July % August % % 12-Month Avg* % * Months Supply for all properties from October 2014 through This is not the average of the individual figures above Current as of October 10, All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 12

13 Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS 2015 The best outcomes seen in the past 15 years are upon us. Nary a warning bell is suspect to sound in this time of generalized stability. For the 12- month period spanning October 2014 through 2015, Closed Sales in the Greater Greenville region were up 17.3 percent overall. The price range with the largest gain in sales was the $200,001 to $300,000 range, where they increased 32.3 percent. Quick Facts % % % Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: $200,001 to $300,000 4 Bedrooms or More Property Type With Strongest Sales: Single-Family The overall Median Sales Price was up 6.7 percent to $168,050. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 5.5 percent to $174,000. The price range that tended to sell the quickest was the $100,001 to $150,000 range at 61 days; the price range that tended to sell the slowest was the $300,001 and Above range at 97 days. Market-wide, inventory levels were down 3.6 percent. The property type that gained the most inventory was the Condos segment, where it increased 18.9 percent. That amounts to 5.7 months supply for Single- Family homes and 4.9 months supply for Condos. Closed Sales Days on Market Until Sale Median Sales Price Percent of List Price Received Inventory of Homes for Sale Months Supply of Inventory Current as of October 10, 2015 All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 1

14 Closed Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total. By Price Range By Bedroom Count By Property Type 2,166 2,050 2,344 2,634 2,616 1,999 1,914 2,533 1,744 5,329 6,171 4,204 8,792 10,425 1,448 3,439 1,103 1, % $100,000 and Below % % % % + 9.0% % % % % $100,001 to $150,000 $150,001 to $200,000 $200,001 to $300,000 $300,001 and Above 2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More Single-Family Homes Condos All Properties Single-Family Homes Condos By Price Range Change Change Change $100,000 and Below 2,166 2, % 1,638 1, % % $100,001 to $150,000 2,344 2, % 2,081 2, % % $150,001 to $200,000 1,999 2, % 1,872 2, % % $200,001 to $300,000 1,914 2, % 1,819 2, % % $300,001 and Above 1,448 1, % 1,382 1, % % All Price Ranges 9,871 11, % 8,792 10, % % By Bedroom Count Change Change Change 2 Bedrooms or Less 1,103 1, % % % 3 Bedrooms 5,329 6, % 4,781 5, % % 4 Bedrooms or More 3,439 4, % 3,333 4, % % All Bedroom Counts 9,871 11, % 8,792 10, % % Current as of October 10, 2015 All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 2

15 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 By Bedroom Count By Property Type % $100,000 and Below % % + 5.1% - 0.5% % % + 0.6% - 7.3% % $100,001 to $150,000 $150,001 to $200,000 $200,001 to $300,000 $300,001 and Above 2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More Single-Family Homes Condos All Properties Single-Family Homes Condos By Price Range Change Change Change $100,000 and Below % % % $100,001 to $150, % % % $150,001 to $200, % % % $200,001 to $300, % % % $300,001 and Above % % % All Price Ranges % % % By Bedroom Count Change Change Change 2 Bedrooms or Less % % % 3 Bedrooms % % % 4 Bedrooms or More % % % All Bedroom Counts % % % Current as of October 10, 2015 All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 3

16 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 By Property Type $234,463 $237,500 $157,500 $168,050 $164,900 $174,000 $136,000 $145,000 $125,900 $130,000 $82,000 $87, % + 6.6% + 1.3% + 6.7% + 5.5% + 3.3% 2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More All Properties Single-Family Homes Condos All Properties Single-Family Homes Condos By Bedroom Count Change Change Change 2 Bedrooms or Less $82,000 $87, % $68,000 $74, % $105,000 $109, % 3 Bedrooms $136,000 $145, % $139,000 $147, % $142,500 $149, % 4 Bedrooms or More $234,463 $237, % $237,000 $240, % $191,000 $184, % All Bedroom Counts $157,500 $168, % $164,900 $174, % $125,900 $130, % Current as of October 10, 2015 All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 4

17 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 By Bedroom Count By Property Type 97.0% 97.3% 97.9% 97.5% 97.7% 97.3% 96.8% 96.3% 97.0% 96.3% 97.2% 96.7% 96.9% 96.8% 93.8% 93.1% 94.2% 93.7% 96.3% 96.2% + 0.7% $100,000 and Below + 0.3% + 0.5% + 0.4% + 0.5% + 0.6% + 0.7% + 0.5% + 0.6% + 0.6% $100,001 to $150,000 $150,001 to $200,000 $200,001 to $300,000 $300,001 and Above 2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More Single-Family Homes Condos All Properties Single-Family Homes Condos By Price Range Change Change Change $100,000 and Below 93.1% 93.8% + 0.7% 93.0% 93.8% + 0.8% 94.6% 95.3% + 0.8% $100,001 to $150, % 97.3% + 0.3% 97.1% 97.4% + 0.3% 96.5% 96.9% + 0.5% $150,001 to $200, % 97.9% + 0.5% 97.4% 98.0% + 0.6% 97.9% 97.7% - 0.3% $200,001 to $300, % 97.7% + 0.4% 97.3% 97.7% + 0.3% 97.1% 97.8% + 0.7% $300,001 and Above 96.3% 96.8% + 0.5% 96.3% 96.8% + 0.5% 96.7% 97.4% + 0.7% All Price Ranges 96.2% 96.8% + 0.6% 96.3% 96.9% + 0.6% 96.2% 96.8% + 0.6% By Bedroom Count Change Change Change 2 Bedrooms or Less 93.7% 94.2% + 0.6% 92.4% 93.2% + 0.8% 96.0% 96.2% + 0.3% 3 Bedrooms 96.3% 97.0% + 0.7% 96.5% 97.2% + 0.7% 96.4% 97.4% + 1.0% 4 Bedrooms or More 96.7% 97.2% + 0.5% 96.8% 97.3% + 0.5% 96.3% 97.2% + 1.0% All Bedroom Counts 96.2% 96.8% + 0.6% 96.3% 96.9% + 0.6% 96.2% 96.8% + 0.6% Current as of October 10, 2015 All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 5

18 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 By Bedroom Count By Property Type 1,178 1,246 1,475 1,584 2,385 2,407 2,298 2,351 4,884 4, % $100,000 and Below - 2.6% - 9.6% + 5.8% + 7.4% - 8.9% - 3.6% - 2.3% - 4.8% % $100,001 to $150,000 $150,001 to $200,000 $200,001 to $300,000 $300,001 and Above 2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More Single-Family Homes Condos All Properties Single-Family Homes Condos By Price Range Change Change Change $100,000 and Below % % % $100,001 to $150, % % % $150,001 to $200, % % % $200,001 to $300,000 1,178 1, % 1,124 1, % % $300,001 and Above 1,475 1, % 1,426 1, % % All Price Ranges 5,321 5, % 4,884 4, % % By Bedroom Count Change Change Change 2 Bedrooms or Less % % % 3 Bedrooms 2,385 2, % 2,161 2, % % 4 Bedrooms or More 2,407 2, % 2,367 2, % % All Bedroom Counts 5,321 5, % 4,884 4, % % Current as of October 10, 2015 All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 6

19 Months Supply of Inventory The inventory of homes for sale at the end of the most recent month, divided by the average monthly pending sales from the last 12 months. Based on one month of activity. By Price Range By Bedroom Count By Property Type % $100,000 and Below - 8.9% % % - 7.0% % % % % + 4.3% $100,001 to $150,000 $150,001 to $200,000 $200,001 to $300,000 $300,001 and Above 2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More Single-Family Homes Condos All Properties Single-Family Homes Condos By Price Range Change Change Change $100,000 and Below % % % $100,001 to $150, % % % $150,001 to $200, % % % $200,001 to $300, % % % $300,001 and Above % % % All Price Ranges % % % By Bedroom Count Change Change Change 2 Bedrooms or Less % % % 3 Bedrooms % % % 4 Bedrooms or More % % % All Bedroom Counts % % % Current as of October 10, 2015 All data from the Greater Greenville Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. 7