Monthly Indicators 2018 The three most prominent national market trends for residential real estate are the ongoing lack of abundant inventory, the steadily upward movement of home prices and year-over-year declines in home sales. Sales declines are a natural result of there being fewer homes for sale, but higher prices often indicate higher demand leading to competitive bidding. Markets are poised for increased supply, so there is hope that more sellers will take advantage of what appears to be a ready and willing buyer base. Closed Sales increased 6.6 percent for single-family homes and 8.3 percent for condos. Pending Sales increased 5.5 percent for single-family homes and 3.5 percent for condos. Inventory decreased 4.0 percent for single-family homes and 18.8 percent for condos. The Median Sales Price was up 4.4 percent to $212,940 for single-family homes and 1.2 percent to $120,700 for condos. Days on Market decreased 2.0 percent for single-family homes and 20.1 percent for condos. Supply decreased 11.7 percent for single-family homes and 28.2 percent for condos. In, prevailing mortgage rates continued to rise. This has a notable impact on housing affordability and can leave consumers choosing between higher payments or lower-priced homes. According to the Mortgage Bankers Association, the average rate for 30-year fixed-rate mortgages with a 20 percent down payment that qualify for backing by Fannie Mae and Freddie Mac rose to its highest level since January 2014. A 4.5 or 4.6 percent rate might not seem high to those with extensive real estate experience, but it is newly high for many potential first-time home buyers. Upward rate pressure is likely to continue as long as the economy fares well. Quick Facts + 7.3% + 6.6% + 8.3% in Closed Sales All Properties in Closed Sales Only A research tool provided by the Coastal Carolinas Association of REALTORS. Percent changes are calculated using rounded figures. Market Overview 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 in Closed Sales Only 2 3 4 5 6 7 8 9 10 11 12 13 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime.
Market Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Single-family homes only. Key Metrics Historical Sparkbars 2-2017 2-2018 Percent YTD 2017 YTD 2018 Percent New Listings 1,180 993-15.8% 2,339 1,969-15.8% Pending Sales 674 711 + 5.5% 1,317 1,392 + 5.7% Closed Sales 514 548 + 6.6% 1,018 1,099 + 8.0% Days on Market 153 150-2.0% 154 148-3.9% Median Sales Price $203,950 $212,940 + 4.4% $195,282 $212,250 + 8.7% Avg. Sales Price $245,268 $248,473 + 1.3% $249,224 $243,594-2.3% Pct. of List Price Received 97.1% 97.0% - 0.1% 96.8% 97.0% + 0.2% Affordability Index 116 111-4.3% 121 112-7.4% Homes for Sale 3,930 3,772-4.0% -- -- -- Months Supply 6.0 5.3-11.7% -- -- -- Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 2
Market Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. properties only. Key Metrics Historical Sparkbars 2-2017 2-2018 Percent YTD 2017 YTD 2018 Percent New Listings 806 624-22.6% 1,635 1,339-18.1% Pending Sales 486 503 + 3.5% 953 949-0.4% Closed Sales 374 405 + 8.3% 688 748 + 8.7% Days on Market 149 119-20.1% 165 126-23.6% Median Sales Price $119,250 $120,700 + 1.2% $125,000 $129,700 + 3.8% Avg. Sales Price $137,589 $144,407 + 5.0% $147,644 $151,487 + 2.6% Pct. of List Price Received 94.5% 95.6% + 1.2% 95.0% 95.8% + 0.8% Affordability Index 199 196-1.5% 189 183-3.2% Homes for Sale 3,071 2,493-18.8% -- -- -- Months Supply 7.1 5.1-28.2% -- -- -- Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 3
New Listings A count of the properties that have been newly listed on the market in a given month. 2,339 1,180 2,150 1,969 1,004 993 1,635 806 1,441 717 1,339 624 Historical New Listings by Month 1,400 + 0.2% + 17.5% - 15.8% + 15.3% + 12.4% - 22.6% + 4.3% + 8.8% - 15.8% + 12.1% + 13.5% - 18.1% New Listings Mar-2017 1,266 +4.9% 804 +0.5% Apr-2017 1,069-1.0% 718-3.8% May-2017 1,133 +5.7% 651-5.2% Jun-2017 1,226 +12.9% 609-6.7% Jul-2017 1,070 +14.4% 628 +1.0% Aug-2017 1,074 +2.1% 638 +3.1% Sep-2017 1,016 +3.0% 538-14.6% Oct-2017 1,041 +42.4% 679 +49.2% Nov-2017 960 +25.7% 501 +1.0% Dec-2017 710 +5.3% 426 +12.1% Jan-2018 976-15.8% 715-13.8% Feb-2018 993-15.8% 624-22.6% 12-Month Avg 1,045 +5.1% 628-2.5% 1,200 1,000 800 600 400 200 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 4
Pending Sales A count of the properties on which offers have been accepted in a given month. Historical Pending Sales by Month 1,000 674 711 1,317 1,392 594 1,148 486 503 953 949 407 754-2.6% + 13.5% + 5.5% + 4.6% + 19.4% + 3.5% -3.3% + 14.7% + 5.7% + 1.5% + 26.4% -0.4% Pending Sales Mar-2017 885 +16.4% 652 +30.1% Apr-2017 780-0.4% 542 +4.6% May-2017 816 +10.7% 527 +8.2% Jun-2017 822 +19.0% 514 +13.5% Jul-2017 770 +16.5% 518 +19.1% Aug-2017 703 +2.0% 548 +19.9% Sep-2017 626-7.3% 399-13.4% Oct-2017 716 +44.6% 462 +47.1% Nov-2017 562-0.5% 419 +14.5% Dec-2017 505 +8.4% 304 +14.3% Jan-2018 681 +5.9% 446-4.5% Feb-2018 711 +5.5% 503 +3.5% 12-Month Avg* 653 +9.4% 434 +12.0% 800 600 400 200 0 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 5
Closed Sales A count of the actual sales that closed in a given month. 548 1,099 502 514 1,018 957 405 374 748 342 688 601 Historical Closed Sales by Month 1,000 + 10.1% + 2.4% + 6.6% + 24.4% + 9.4% + 8.3% + 11.3% + 6.4% + 8.0% + 12.8% + 14.5% + 8.7% Closed Sales Mar-2017 754 +16.7% 591 +43.4% Apr-2017 712 +13.6% 517 +18.0% May-2017 847 +15.1% 574 +11.0% Jun-2017 847 +4.2% 608 +13.9% Jul-2017 744 +7.4% 442 +6.5% Aug-2017 867 +24.7% 565 +19.7% Sep-2017 707-3.3% 482 +4.1% Oct-2017 655 +22.7% 459 +20.8% Nov-2017 696 +18.8% 427 +22.7% Dec-2017 686 +5.7% 436 +9.3% Jan-2018 551 +9.3% 343 +9.2% Feb-2018 548 +6.6% 405 +8.3% 12-Month Avg* 644 +11.5% 422 +15.5% 800 600 400 200 0 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 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. Historical Days on Market Until Sale by Month 250 159 153 156 162 163 165 150 149 154 148 126 119 + 3.9% -3.8% -2.0% -4.9% -4.5% - 20.1% + 7.3% -4.9% -3.9% 0.0% + 1.2% - 23.6% Days on Market Mar-2017 149-3.2% 149 +2.1% Apr-2017 141-2.8% 137-11.0% May-2017 133-8.9% 141-18.0% Jun-2017 139-4.8% 144-3.4% Jul-2017 134-11.3% 125-18.8% Aug-2017 137-2.8% 135-9.4% Sep-2017 143-6.5% 144-5.9% Oct-2017 134-11.8% 130-17.7% Nov-2017 132-13.2% 124-16.8% Dec-2017 134-10.1% 136-13.9% Jan-2018 146-5.8% 135-26.6% Feb-2018 150-2.0% 119-20.1% 12-Month Avg* 149-7.0% 156-12.8% * Days on Market for all properties from March 2017 through 2018. This is not the average of the individual figures above. 200 150 100 50 0 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 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. $212,940 $203,950 $212,250 $196,000 $196,000 $195,282 $115,000 $119,250 $120,700 $125,000 $129,700 $115,000 + 4.8% + 4.1% + 4.4% + 5.0% + 3.7% + 1.2% + 8.9% -0.4% + 8.7% + 9.5% + 8.7% + 3.8% Historical Median Sales Price by Month $250,000 Median Sales Price Mar-2017 $199,825-2.4% $134,900 +20.4% Apr-2017 $202,500 +9.8% $121,500 +5.7% May-2017 $212,000 +10.4% $125,000 +4.2% Jun-2017 $226,140 +9.5% $127,250 +7.8% Jul-2017 $199,900-2.1% $130,000 +8.3% Aug-2017 $218,000 +8.0% $125,000 0.0% Sep-2017 $220,000 +4.8% $133,950 +8.0% Oct-2017 $215,000 +6.7% $130,000 +5.1% Nov-2017 $209,150-1.2% $125,000-3.8% Dec-2017 $220,000 +4.8% $139,750 +10.5% Jan-2018 $210,000 +9.2% $139,990 +6.9% Feb-2018 $212,940 +4.4% $120,700 +1.2% 12-Month Avg* $201,833 +5.3% $121,000 +6.3% * Median Sales Price for all properties from March 2017 through 2018. This is not the average of the individual figures above. $225,000 $200,000 $175,000 $150,000 $125,000 $100,000 $75,000 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 8
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $245,268 $248,473 $249,224 $243,594 $229,148 $230,200 $144,407 $147,644 $151,487 $136,770 $137,589 139,930 + 0.6% + 7.0% + 1.3% -5.8% + 0.6% + 5.0% + 3.1% + 8.3% -2.3% + 0.2% + 5.5% + 2.6% Historical Average Sales Price by Month $400,000 Avg. Sales Price Mar-2017 $248,557 +6.4% $157,058 +17.2% Apr-2017 $239,333 +9.0% $146,549 +4.0% May-2017 $254,370 +7.0% $149,263 +5.3% Jun-2017 $265,484 +10.8% $152,861 +7.6% Jul-2017 $237,791-6.5% $151,899 +4.3% Aug-2017 $265,152 +3.8% $147,696 +0.0% Sep-2017 $252,631 +0.5% $161,008 +12.5% Oct-2017 $251,707 +5.2% $156,180 +4.0% Nov-2017 $245,573 +0.4% $153,285 +1.1% Dec-2017 $249,083 +3.3% $165,543 +16.0% Jan-2018 $238,750-5.7% $159,846 +0.1% Feb-2018 $248,473 +1.3% $144,407 +5.0% 12-Month Avg $249,742 +3.1% $153,800 +6.4% * Avg. Sales Price for all properties from March 2017 through 2018. This is not the average of the individual figures above. $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 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. 96.8% 97.1% 97.0% 95.0% 94.5% 95.6% Historical Percent of List Price Received by Month 100.0% 2016 2017 2018 96.8% 96.8% 97.0% 94.8% 95.0% 95.8% 2016 2017 2018 2016 2017 2018 2016 2017 2018 + 0.3% + 0.3% -0.1% + 1.0% -0.5% + 1.2% + 0.2% 0.0% + 0.2% + 1.0% + 0.2% + 0.8% Pct. of List Price Received Mar-2017 97.1% -0.3% 95.8% +0.9% Apr-2017 96.8% -0.2% 95.2% +0.2% May-2017 97.3% +0.1% 96.1% +0.7% Jun-2017 97.1% +0.1% 95.7% +0.5% Jul-2017 97.5% +0.2% 95.7% +0.8% Aug-2017 97.5% +0.3% 96.2% +1.1% Sep-2017 97.6% +0.6% 95.6% +0.1% Oct-2017 97.0% -0.2% 95.9% +0.4% Nov-2017 97.3% +0.3% 95.5% -0.1% Dec-2017 97.5% +0.1% 95.8% +0.7% Jan-2018 97.1% +0.6% 96.0% +0.3% Feb-2018 97.0% -0.1% 95.6% +1.2% 12-Month Avg 97.2% +0.1% 95.8% +0.6% * Pct. of List Price Received for all properties from March 2017 through 2018. This is not the average of the individual figures above. 98.0% 96.0% 94.0% 92.0% 90.0% 88.0% Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 10
Housing Affordability Index This index measures housing affordability for the region. For example, 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. 219 219 199 196 189 183 129 129 116 121 111 112 Historical Housing Affordability Index by Month 300-3.7% - 10.1% -4.3% -4.4% -9.1% -1.5% -7.2% -6.2% -7.4% -8.0% - 13.7% -3.2% Affordability Index Mar-2017 119-2.5% 176-21.1% Apr-2017 117-14.0% 195-10.6% May-2017 112-14.5% 189-9.6% Jun-2017 105-15.3% 186-13.9% Jul-2017 118-5.6% 182-14.2% Aug-2017 109-14.2% 189-7.4% Sep-2017 108-10.7% 177-13.7% Oct-2017 110-14.1% 182-12.9% Nov-2017 113-1.7% 189 +0.5% Dec-2017 108-4.4% 169-9.6% Jan-2018 113-8.1% 169-6.6% Feb-2018 111-4.3% 196-1.5% 12-Month Avg 112-9.1% 183-10.0% 250 200 150 100 50 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 11
Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. Historical Inventory of Homes for Sale by Month 6,000 4,072 3,930 3,772 3,397 3,071 2,493 2016 2017 2018 2016 2017 2018-4.6% -3.5% -4.0% -3.2% -9.6% - 18.8% Homes for Sale Mar-2017 3,920-6.5% 3,008-13.5% Apr-2017 3,931-5.8% 2,997-14.6% May-2017 3,939-6.5% 2,915-15.1% Jun-2017 3,976-5.3% 2,807-18.1% Jul-2017 3,913-6.1% 2,708-19.3% Aug-2017 3,923-5.1% 2,622-21.2% Sep-2017 3,967-4.0% 2,551-21.8% Oct-2017 3,899-3.0% 2,565-19.0% Nov-2017 3,928 +1.1% 2,482-19.4% Dec-2017 3,810 +1.6% 2,413-19.1% Jan-2018 3,695-3.2% 2,484-17.2% Feb-2018 3,772-4.0% 2,493-18.8% 12-Month Avg* 4,051-4.0% 3,258-18.0% 5,000 4,000 3,000 2,000 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 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. Historical Months Supply of Inventory by Month 120.0 8.7 7.1 6.5 6.0 5.3 5.1 2016 2017 2018 2016 2017 2018-15.6% -7.7% - 11.7% - 12.1% - 18.4% - 28.2% Months Supply Mar-2017 5.9-10.6% 6.7-24.7% Apr-2017 5.9-10.6% 6.7-24.7% May-2017 5.9-10.6% 6.4-25.6% Jun-2017 5.8-12.1% 6.1-28.2% Jul-2017 5.7-13.6% 5.8-29.3% Aug-2017 5.7-12.3% 5.6-30.9% Sep-2017 5.8-10.8% 5.5-29.5% Oct-2017 5.5-14.1% 5.4-28.9% Nov-2017 5.6-8.2% 5.1-31.1% Dec-2017 5.4-8.5% 5.0-29.6% Jan-2018 5.2-11.9% 5.1-27.1% Feb-2018 5.3-11.7% 5.1-28.2% 12-Month Avg* 6.4-11.3% 8.0-28.2% * Months Supply for all properties from March 2017 through 2018. This is not the average of the individual figures above. 100.0 80.0 60.0 40.0 20.0 0.0 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 Current as of March 10, 2018. All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 13