Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS April 217 Spring is in the air, and housing activity is heightening. There appear to be more buyers out on the prowl, given the fact that sales prices are still going up while the number of days a house is on the market continues to drop. This is a recipe for a seller's market. For the 12-month period spanning May 21 through April 217, Pending Sales in the Cherokee region were down 4.7 percent overall. The price range with the largest gain in sales was the $15,1 to $2, range, where they increased 35. percent. The overall Median Sales Price was up 24. percent to $15,. The property type with the largest price gain was the segment, where prices increased 44.4 percent to $14,. The price range that tended to sell the quickest was the $2,1 to $3, range at 9 days; the price range that tended to sell the slowest was the $3,1 and range at 179 days. Market-wide, inventory levels were down 29.1 percent. The property type that gained the most inventory was the segment, where it remained flat. That amounts to 2.7 months supply for Single-Family homes and. months supply for. Quick Facts + 35.% - 3.4% - 4.9% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: $15,1 to $2, 3 Bedrooms Pending Sales Days on Market Until Sale Median Sales Price Percent of List Price Received Inventory of Homes for Sale Months Supply of Inventory Property Type With Strongest Sales: Single-Family 2 3 4 5 7 Current as of May 1, 217 All data comes from the Cherokee County Board of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 217 ShowingTime. 1
Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total. 2 231 328 317 48 42 114 13 59 8 42 42 7 2 89 85 8-13.2% $1, and - 9.% + 35.%.% + 33.3% - 11.4% -3.4% -4.5% -4.9% -- $1,1 to $15, $15,1 to $2, $2,1 to $3, $3,1 and Change Change Change $1, and 2 231-13.2% 25 23-13.2% -- $1,1 to $15, 114 13-9.% 114 12-1.5% -- $15,1 to $2, 59 8 + 35.% 59 8 + 35.% -- $2,1 to $3, 42 42.% 42 42.% -- $3,1 and 8 + 33.3% 8 + 33.3% -- All Price Ranges 487 44-4.7% 48 42-4.9% -- Change Change Change 7 2-11.4% 9 1-11.% -- 3 Bedrooms 328 317-3.4% 328 31-3.7% -- 4 Bedrooms or 89 85-4.5% 89 85-4.5% -- All Bedroom Counts 487 44-4.7% 48 42-4.9% -- Current as of May 1, 217 All data comes from the Cherokee County Board of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 217 ShowingTime. 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. 13 141 118 1 135 139 11 9 127 179 141 99 13 138 114 111 137 111-13.2% $1, and - 29.1% - 18.3% - 35.2% + 4.% - 29.8% - 1.4% - 19.7% - 19.% -- $1,1 to $15, $15,1 to $2, $2,1 to $3, $3,1 and Change Change Change $1, and 13 118-13.2% 13 118-13.2% -- $1,1 to $15, 141 1-29.1% 141 1-29.3% -- $15,1 to $2, 135 11-18.3% 135 11-18.3% -- $2,1 to $3, 139 9-35.2% 139 9-35.2% -- $3,1 and 127 179 + 4.% 127 179 + 4.% -- All Price Ranges 137 111-18.9% 137 111-19.% -- Change Change Change 141 99-29.8% 141 99-3.2% -- 3 Bedrooms 13 114-1.4% 13 114-1.4% -- 4 Bedrooms or 138 111-19.7% 138 111-19.7% -- All Bedroom Counts 137 111-18.9% 137 111-19.% -- Current as of May 1, 217 All data comes from the Cherokee County Board of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 217 ShowingTime. 3
Median Sales Price Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median. $145,25 $15, $15, $14, $85, $11, $119,918 $84,3 $84,5 $72, $44, $4,5-8.% + 29.4% + 21.1% + 24.% + 24.% + 44.4% Change Change Change $44, $4,5-8.% $43,18 $4, - 8.3% $72, $8, - 5.% 3 Bedrooms $85, $11, + 29.4% $85, $11, + 29.4% $ $14, -- 4 Bedrooms or $119,918 $145,25 + 21.1% $119,918 $145,25 + 21.1% $ $ -- All Bedroom Counts $84,3 $15, + 24.% $84,5 $15, + 24.% $72, $14, + 44.4% Current as of May 1, 217 All data comes from the Cherokee County Board of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 217 ShowingTime. 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. 97.1% 97.% 98.7% 98.2% 98.% 97.3% 97.7% 97.2% 97.1% 94.% 9.7% 95.5% 94.9% 94.3% 94.5% 93.5% 91.4% 92.1%.%.% + 4.% $1, and +.5% +.5% -.7% + 2.9% + 2.5% + 2.8% + 3.8% + 2.9% -- $1,1 to $15, $15,1 to $2, $2,1 to $3, $3,1 and Change Change Change $1, and 91.4% 95.5% + 4.% 91.4% 95.5% + 4.5%.%.% -- $1,1 to $15, 97.1% 97.% +.5% 97.1% 97.% +.5%.%.% -- $15,1 to $2, 98.2% 98.7% +.5% 98.2% 98.7% +.5%.%.% -- $2,1 to $3, 98.% 97.3% -.7% 98.% 97.3% -.7%.%.% -- $3,1 and 94.9% 97.7% + 2.9% 94.9% 97.7% + 2.9%.%.% -- All Price Ranges 94.% 9.8% + 3.% 94.% 9.7% + 2.9%.%.% -- Change Change Change 92.1% 94.3% + 2.5% 92.2% 94.2% + 2.2%.%.% -- 3 Bedrooms 94.5% 97.2% + 2.8% 94.5% 97.2% + 2.8%.%.% -- 4 Bedrooms or 93.5% 97.1% + 3.8% 93.5% 97.1% + 3.8%.%.% -- All Bedroom Counts 94.% 9.8% + 3.% 94.% 9.7% + 2.9%.%.% -- Current as of May 1, 217 All data comes from the Cherokee County Board of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 217 ShowingTime. 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. 8 14 148 53 5 15 25 2 29 1 8 1 18 18 2 22-33.8% $1, and - 2.% - 44.8% + 25.%.%.% - 37.5% - 15.4% - 29.1% -- $1,1 to $15, $15,1 to $2, $2,1 to $3, $3,1 and Change Change Change $1, and 8 53-33.8% 8 53-33.8% -- $1,1 to $15, 25 2-2.% 25 2-2.% -- $15,1 to $2, 29 1-44.8% 29 1-44.8% -- $2,1 to $3, 8 1 + 25.% 8 1 + 25.% -- $3,1 and.%.% -- All Price Ranges 148 15-29.1% 148 15-29.1% -- Change Change Change 18 18.% 18 18.% -- 3 Bedrooms 14 5-37.5% 14 5-37.5% -- 4 Bedrooms or 2 22-15.4% 2 22-15.4% -- All Bedroom Counts 148 15-29.1% 148 15-29.1% -- Current as of May 1, 217 All data comes from the Cherokee County Board of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 217 ShowingTime.
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. 3. 2.8 2. 5.9 2.3 2.4 2.3 2.9 5. 3.8 3.1 3.5 3.8 2.5 3.5 3.1 3.7 2.7.. - 22.2% $1, and - 11.5% - 59.3% + 2.1% - 24.% + 12.9% - 34.2% - 11.4% - 27.% -- $1,1 to $15, $15,1 to $2, $2,1 to $3, $3,1 and Change Change Change $1, and 3. 2.8-22.2% 3. 2.8-22.2%.. -- $1,1 to $15, 2. 2.3-11.5% 2. 2.4-7.7%.. -- $15,1 to $2, 5.9 2.4-59.3% 5.9 2.4-59.3%.. -- $2,1 to $3, 2.3 2.9 + 2.1% 2.3 2.9 + 2.1%.. -- $3,1 and 5. 3.8-24.% 5. 3.8-24.%.. -- All Price Ranges 3. 2.7-25.% 3.7 2.7-27.%.. -- Change Change Change 3.1 3.5 + 12.9% 3.1 3.5 + 12.9%.. -- 3 Bedrooms 3.8 2.5-34.2% 3.8 2.5-34.2%.. -- 4 Bedrooms or 3.5 3.1-11.4% 3.5 3.1-11.4%.. -- All Bedroom Counts 3. 2.7-25.% 3.7 2.7-27.%.. -- Current as of May 1, 217 All data comes from the Cherokee County Board of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 217 ShowingTime. 7