Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS April 2016 We should see a healthy number of sales in most categories for the next few months, yet there is still some lingering worry about low inventory, especially with an overall slowdown in new construction. For the 12- month period spanning May 2015 through April 2016, Closed Sales in the Coastal Carolinas region were up 9.5 percent overall. The price range with the largest gain in sales was the range, where they increased 23.2 percent. Quick Facts + 23.2% + 18.0% + 12.3% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: 4 Bedrooms or Property Type With Strongest Sales: Single-Family The overall Median Sales Price was up 5.1 percent to $165,000. The property type with the largest price gain was the segment, where prices increased 7.5 percent to $198,950. The price range that tended to sell the quickest was the range at 141 days; the price range that tended to sell the slowest was the range at 195 days. Market-wide, inventory levels were down 4.5 percent. The property type that lost the least inventory was the segment, where it decreased 2.1 percent. That amounts to 6.5 months supply for Single-Family homes and 8.8 months supply for. Closed Sales Days on Market Until Sale Median Sales Price Percent of List Price Received Inventory of Homes for Sale Months Supply of Inventory 2 3 4 5 6 7 Current as of May 10, 2016 All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 1
Closed Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total. 2,481 2,479 2,374 2,645 2,197 2,399 2,276 2,707 5,878 6,299 6,613 7,424 1,511 1,862 2,870 3,153 1,929 2,276 4,331 4,563-4.3% + 6.7% + 9.2% + 18.9% + 23.2% + 9.9% + 7.2% + 18.0% + 12.3% + 5.4% All Properties Change Change Change 2,481 2,374-4.3% 795 659-17.1% 1,686 1,715 + 1.7% 2,479 2,645 + 6.7% 1,315 1,356 + 3.1% 1,164 1,289 + 10.7% 2,197 2,399 + 9.2% 1,514 1,704 + 12.5% 683 695 + 1.8% 2,276 2,707 + 18.9% 1,768 2,169 + 22.7% 508 538 + 5.9% 1,511 1,862 + 23.2% 1,221 1,536 + 25.8% 290 326 + 12.4% All Price Ranges 10,944 11,987 + 9.5% 6,613 7,424 + 12.3% 4,331 4,563 + 5.4% Change Change Change 2,870 3,153 + 9.9% 393 474 + 20.6% 2,477 2,679 + 8.2% 3 Bedrooms 5,878 6,299 + 7.2% 4,432 4,835 + 9.1% 1,446 1,464 + 1.2% 4 Bedrooms or 1,929 2,276 + 18.0% 1,788 2,115 + 18.3% 141 161 + 14.2% All Bedroom Counts 10,944 11,987 + 9.5% 6,613 7,424 + 12.3% 4,331 4,563 + 5.4% Current as of May 10, 2016 All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 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. 148 152 153 141 147 143 168 164 189 195 160 174 170 167 160 151 153 153 154 153-4.3% - 3.2% - 6.6% - 2.4% + 3.4% -5.6% -0.4% -2.1% -0.7% -3.8% All Properties Change Change Change 148 141-4.3% 136 128-5.2% 153 146-4.5% 152 147-3.2% 139 141 + 1.9% 169 154-8.8% 153 143-6.6% 141 134-4.6% 180 165-8.2% 168 164-2.4% 164 159-3.3% 183 186 + 1.9% 189 195 + 3.4% 188 190 + 0.9% 193 223 + 16.0% All Price Ranges 159 156-2.1% 154 153-0.7% 167 160-3.8% Change Change Change 160 151-5.6% 148 131-11.5% 162 155-4.6% 3 Bedrooms 153 153-0.4% 147 149 + 1.0% 172 165-3.6% 4 Bedrooms or 174 170-2.1% 173 168-2.9% 192 205 + 6.4% All Bedroom Counts 159 156-2.1% 154 153-0.7% 167 160-3.8% Current as of May 10, 2016 All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 3
Median Sales Price Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median. $276,500 $280,720 $167,215 $175,000 $157,000 $165,000 $185,000 $198,950 $115,000 $116,500 $98,000 $103,100 + 5.2% + 4.7% + 1.5% + 5.1% + 7.5% + 1.3% All Properties All Properties Change Change Change $98,000 $103,100 + 5.2% $110,000 $117,000 + 6.4% $96,750 $100,000 + 3.4% 3 Bedrooms $167,215 $175,000 + 4.7% $168,122 $178,000 + 5.9% $162,500 $158,000-2.8% 4 Bedrooms or $276,500 $280,720 + 1.5% $273,410 $280,000 + 2.4% $311,933 $315,000 + 1.0% All Bedroom Counts $157,000 $165,000 + 5.1% $185,000 $198,950 + 7.5% $115,000 $116,500 + 1.3% Current as of May 10, 2016 All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 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. 96.3% 96.4% 97.4% 96.9% 97.1% 97.3% 96.7% 96.4% 97.0% 96.7% 96.7% 96.3% 96.6% 97.0% 92.9% 93.1% 94.5% 94.0% 94.6% 94.8% + 0.2% + 0.1% + 0.5% + 0.2% + 0.3% + 0.5% + 0.3% + 0.4% + 0.4% + 0.2% All Properties Change Change Change 92.9% 93.1% + 0.2% 92.1% 92.1% 0.0% 93.3% 93.4% + 0.1% 96.3% 96.4% + 0.1% 97.1% 97.4% + 0.3% 95.4% 95.4% 0.0% 96.9% 97.4% + 0.5% 97.3% 97.8% + 0.5% 96.1% 96.5% + 0.4% 97.1% 97.3% + 0.2% 97.5% 97.7% + 0.2% 95.6% 95.7% + 0.1% 96.4% 96.7% + 0.3% 96.7% 97.0% + 0.3% 95.1% 95.2% + 0.1% All Price Ranges 95.8% 96.2% + 0.4% 96.6% 97.0% + 0.4% 94.6% 94.8% + 0.2% Change Change Change 94.0% 94.5% + 0.5% 92.9% 94.3% + 1.5% 94.2% 94.5% + 0.3% 3 Bedrooms 96.7% 97.0% + 0.3% 97.0% 97.3% + 0.3% 95.8% 95.8% 0.0% 4 Bedrooms or 96.3% 96.7% + 0.4% 96.3% 96.8% + 0.5% 95.6% 95.3% - 0.3% All Bedroom Counts 95.8% 96.2% + 0.4% 96.6% 97.0% + 0.4% 94.6% 94.8% + 0.2% Current as of May 10, 2016 All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 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. 2,065 2,171 3,520 3,291 4,346 4,069 1,370 1,065 1,566 1,431 1,254 1,221 1,598 1,615 2,243 2,150 1,881 1,872 3,507 3,434-22.3% - 8.6% - 2.6% + 1.1% + 5.1% -4.1% - 6.5% - 0.5% -6.4% -2.1% All Properties Change Change Change 1,370 1,065-22.3% 362 225-37.8% 1,008 840-16.7% 1,566 1,431-8.6% 595 500-16.0% 971 931-4.1% 1,254 1,221-2.6% 734 690-6.0% 520 531 + 2.1% 1,598 1,615 + 1.1% 1,090 1,011-7.2% 508 604 + 18.9% 2,065 2,171 + 5.1% 1,565 1,643 + 5.0% 500 528 + 5.6% All Price Ranges 7,853 7,503-4.5% 4,346 4,069-6.4% 3,507 3,434-2.1% Change Change Change 2,243 2,150-4.1% 241 199-17.4% 2,002 1,951-2.5% 3 Bedrooms 3,520 3,291-6.5% 2,393 2,155-9.9% 1,127 1,136 + 0.8% 4 Bedrooms or 1,881 1,872-0.5% 1,712 1,715 + 0.2% 169 157-7.1% All Bedroom Counts 7,853 7,503-4.5% 4,346 4,069-6.4% 3,507 3,434-2.1% Current as of May 10, 2016 All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 6
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. 7.5 6.7 5.3 6.3 6.6 5.9 8.0 7.1 15.0 14.1 9.1 8.1 7.0 6.2 11.0 9.7 7.6 6.5 9.5 8.8-21.0% - 15.1% - 10.4% - 11.7% - 6.5% - 11.3% - 12.1% - 12.2% - 14.5% - 7.4% All Properties Change Change Change 6.7 5.3-21.0% 5.8 3.9-33.0% 7.1 5.8-17.4% 7.5 6.3-15.1% 5.3 4.4-18.2% 9.9 8.3-15.4% 6.6 5.9-10.4% 5.5 4.7-14.0% 9.2 8.8-4.7% 8.0 7.1-11.7% 7.0 5.6-20.2% 11.4 12.6 + 10.2% 15.0 14.1-6.5% 14.1 12.8-9.1% 19.0 20.2 + 6.6% All Price Ranges 8.3 7.4-10.8% 7.6 6.5-14.5% 9.5 8.8-7.4% Change Change Change 9.1 8.1-11.3% 7.0 4.9-29.7% 9.4 8.6-8.6% 3 Bedrooms 7.0 6.2-12.1% 6.3 5.3-15.6% 9.3 8.9-4.3% 4 Bedrooms or 11.0 9.7-12.2% 10.8 9.5-11.9% 13.6 11.6-14.6% All Bedroom Counts 8.3 7.4-10.8% 7.6 6.5-14.5% 9.5 8.8-7.4% Current as of May 10, 2016 All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 7