Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS October 2018 Although every community is different, a general analysis of all housing markets across the country reveals that housing inventory is slowly moving toward balance with year-ago levels. This is the first indication in years that we may be approaching an inventory bottom. For the 12-month period spanning November 2017 through October 2018, Pending Sales in the Western Upstate region were down 1.1 percent overall. The price range with the largest gain in sales was the range, where they increased 11.0 percent. The overall Median Sales Price was up 5.0 percent to $172,200. The property type with the largest price gain was the segment, where prices increased 6.7 percent to $127,500. The price range that tended to sell the quickest was the range at 82 days; the price range that tended to sell the slowest was the range at 132 days. Market-wide, inventory levels were up 12.2 percent. The property type that gained the most inventory was the segment, where it increased 41.0 percent. That amounts to 5.0 months supply for Single- Family homes and 5.2 months supply for. Quick Facts + 11.0% + 0.5% - 0.5% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: 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 6 7 Current as of November 10, 2018 All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 1
Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total. 1,027 873 1,214 1,138 1,100 991 1,051 1,054 924 983 2,884 2,899 4,787 4,761 1,552 1,479 716 710 45 22-15.0% - 6.3% + 11.0% + 0.3% + 6.4% -0.8% + 0.5% -4.7% -0.5% - 51.1% Change Change Change 1,027 873-15.0% 910 788-13.4% 10 5-50.0% 1,214 1,138-6.3% 1,047 984-6.0% 25 9-64.0% 991 1,100 + 11.0% 941 1,043 + 10.8% 3 3 0.0% 1,051 1,054 + 0.3% 995 996 + 0.1% 4 4 0.0% 924 983 + 6.4% 894 950 + 6.3% 3 1-66.7% All Price Ranges 5,207 5,148-1.1% 4,787 4,761-0.5% 45 22-51.1% Change Change Change 716 710-0.8% 543 536-1.3% 18 9-50.0% 3 Bedrooms 2,884 2,899 + 0.5% 2,749 2,757 + 0.3% 13 9-30.8% 4 Bedrooms or 1,552 1,479-4.7% 1,444 1,409-2.4% 14 4-71.4% All Bedroom Counts 5,207 5,148-1.1% 4,787 4,761-0.5% 45 22-51.1%
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. 71 95 82 84 55 55 71 103 100 132 80 95 60 90 79 115 69 99 80 71 + 33.8% + 49.1% + 52.7% + 45.1% + 32.0% + 18.8% + 50.0% + 45.6% + 43.5% - 11.3% Change Change Change 71 95 + 33.8% 72 94 + 30.6% 31 114 + 267.7% 55 82 + 49.1% 55 83 + 50.9% 124 58-53.2% 55 84 + 52.7% 54 83 + 53.7% 0 46 0.0% 71 103 + 45.1% 69 104 + 50.7% 18 68 + 277.8% 100 132 + 32.0% 100 134 + 34.0% 22 43 + 95.5% All Price Ranges 69 99 + 43.5% 69 99 + 43.5% 80 71-11.3% Change Change Change 80 95 + 18.8% 82 94 + 14.6% 120 66-45.0% 3 Bedrooms 60 90 + 50.0% 58 89 + 53.4% 37 84 + 127.0% 4 Bedrooms or 79 115 + 45.6% 81 118 + 45.7% 23 56 + 143.5% All Bedroom Counts 69 99 + 43.5% 69 99 + 43.5% 80 71-11.3%
Median Sales Price Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median. $259,375 $273,000 $172,200 $175,000 $164,000 $167,000 $150,300 $162,000 $119,500 $127,500 $86,000 $95,000 + 10.5% + 7.8% + 5.3% + 5.0% + 4.8% + 6.7% Change Change Change $86,000 $95,000 + 10.5% $81,000 $90,000 + 11.1% $107,100 $115,500 + 7.8% 3 Bedrooms $150,300 $162,000 + 7.8% $151,000 $162,400 + 7.5% $134,900 $141,550 + 4.9% 4 Bedrooms or $259,375 $273,000 + 5.3% $267,000 $282,250 + 5.7% $117,500 $121,818 + 3.7% All Bedroom Counts $164,000 $172,200 + 5.0% $167,000 $175,000 + 4.8% $119,500 $127,500 + 6.7% Current as of November 10, 2018 All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2018 ShowingTime. 1
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. 97.0% 97.6% 97.9% 97.9% 97.3% 97.5% 95.8% 96.3% 97.2% 96.7% 96.7% 96.8% 96.6% 97.5% 93.2% 93.1% 93.7% 94.0% 96.2% 95.6% -0.1% + 0.6% 0.0% + 0.2% + 0.5% + 0.3% + 0.5% + 0.1% + 0.4% + 2.0% Change Change Change 93.2% 93.1% - 0.1% 92.9% 92.8% - 0.1% 95.3% 97.1% + 1.9% 97.0% 97.6% + 0.6% 97.1% 97.8% + 0.7% 95.2% 97.6% + 2.5% 97.9% 97.9% 0.0% 98.0% 97.9% - 0.1% 0.0% 98.2% -- 97.3% 97.5% + 0.2% 97.2% 97.5% + 0.3% 97.8% 97.3% - 0.5% 95.8% 96.3% + 0.5% 95.7% 96.2% + 0.5% 98.9% 97.6% - 1.3% All Price Ranges 96.2% 96.6% + 0.4% 96.2% 96.6% + 0.4% 95.6% 97.5% + 2.0% Change Change Change 93.7% 94.0% + 0.3% 93.1% 93.4% + 0.3% 94.3% 97.3% + 3.2% 3 Bedrooms 96.7% 97.2% + 0.5% 96.7% 97.2% + 0.5% 97.1% 97.2% + 0.1% 4 Bedrooms or 96.7% 96.8% + 0.1% 96.6% 96.7% + 0.1% 97.7% 98.8% + 1.1% All Bedroom Counts 96.2% 96.6% + 0.4% 96.2% 96.6% + 0.4% 95.6% 97.5% + 2.0%
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. 314 293 313 284 288 367 380 491 674 732 880 1,032 704 827 1,820 2,003 297 271 117 165-9.6% + 6.8% + 27.4% + 29.2% + 8.6% -8.8% + 17.3% + 17.5% + 10.1% + 41.0% Change Change Change 314 284-9.6% 274 237-13.5% 34 37 + 8.8% 293 313 + 6.8% 248 263 + 6.0% 41 48 + 17.1% 288 367 + 27.4% 274 323 + 17.9% 13 43 + 230.8% 380 491 + 29.2% 358 471 + 31.6% 21 18-14.3% 674 732 + 8.6% 666 709 + 6.5% 8 19 + 137.5% All Price Ranges 1,949 2,187 + 12.2% 1,820 2,003 + 10.1% 117 165 + 41.0% Change Change Change 297 271-8.8% 230 208-9.6% 61 52-14.8% 3 Bedrooms 880 1,032 + 17.3% 833 956 + 14.8% 45 71 + 57.8% 4 Bedrooms or 704 827 + 17.5% 690 782 + 13.3% 11 42 + 281.8% All Bedroom Counts 1,949 2,187 + 12.2% 1,820 2,003 + 10.1% 117 165 + 41.0%
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. 3.7 3.9 2.9 3.3 3.5 4.0 4.3 5.6 8.8 8.9 5.0 4.6 3.7 4.3 5.4 6.7 4.6 5.0 5.2 3.5 + 5.4% + 13.8% + 14.3% + 30.2% + 1.1% -8.0% + 16.2% + 24.1% + 8.7% + 48.6% Change Change Change 3.7 3.9 + 5.4% 3.6 3.6 0.0% 3.7 5.2 + 40.5% 2.9 3.3 + 13.8% 2.8 3.2 + 14.3% 3.1 3.9 + 25.8% 3.5 4.0 + 14.3% 3.5 3.7 + 5.7% 3.1 8.6 + 177.4% 4.3 5.6 + 30.2% 4.3 5.7 + 32.6% 4.6 3.5-23.9% 8.8 8.9 + 1.1% 8.9 9.0 + 1.1% 2.9 6.3 + 117.2% All Price Ranges 4.5 5.1 + 13.3% 4.6 5.0 + 8.7% 3.5 5.2 + 48.6% Change Change Change 5.0 4.6-8.0% 5.1 4.7-7.8% 4.4 3.7-15.9% 3 Bedrooms 3.7 4.3 + 16.2% 3.6 4.2 + 16.7% 4.3 6.0 + 39.5% 4 Bedrooms or 5.4 6.7 + 24.1% 5.7 6.7 + 17.5% 1.3 7.4 + 469.2% All Bedroom Counts 4.5 5.1 + 13.3% 4.6 5.0 + 8.7% 3.5 5.2 + 48.6%