Monthly Indicators 2016 As anticipated at the outset of the year, demand has remained high through the first three quarters of 2016, propping up sales and prices despite heavy reductions in inventory and months of supply across the country. With rental prices and employment opportunities in a consistent climb, year-over-year increases in home buying are probable for the rest of the year but not guaranteed. Quick Facts + 22.4% - 8.3% - 28.0% 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 Greenwood Association of REALTORS Percent changes are calculated using rounded figures. New Listings were down 27.4 percent to 77. Pending Sales increased 28.3 percent to 77. Inventory shrank 28.0 percent to 467 units. Prices were still soft as Median Sales Price was down 8.3 percent to $126,500. Days on Market decreased 13.1 percent to 126 days. Months Supply of Inventory was down 33.0 percent to 6.1 months, indicating that demand increased relative to supply. In general, today's demand is driven by three factors: Millennials are reaching prime home-buying age, growing families are looking for larger homes and empty nesters are downsizing. However, intriguingly low interest rates often prompt refinancing instead of listing, contributing to lower inventory. Recent studies have also shown that short-term rentals are keeping a collection of homes off the market. 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 2 3 4 5 6 7 8 9 10 11 12 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 1
Market Overview Key market metrics for the current month and year-to-date figures. Key Metrics Historical Sparkbars 09-2014 09-2015 09-2016 09-2015 09-2016 YTD 2015 YTD 2016 New Listings 106 77-27.4% 1,143 999-12.6% Pending Sales 60 77 + 28.3% 677 727 + 7.4% Closed Sales 58 71 + 22.4% 661 672 + 1.7% Days on Market 145 126-13.1% 147 154 + 4.8% Median Sales Price $137,950 $126,500-8.3% $115,000 $128,000 + 11.3% Average Sales Price $153,971 $146,849-4.6% $139,928 $153,305 + 9.6% Pct. of List Price Received 96.4% 94.5% - 2.0% 93.8% 94.6% + 0.9% Housing Affordability Index 179 199 + 11.2% 215 196-8.8% Inventory of Homes for Sale 649 467-28.0% -- -- -- Months Supply of Inventory 9.1 6.1-33.0% -- -- -- Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 2
New Listings A count of the properties that have been newly listed on the market in a given month. 106 101 1,106 1,143 999 77-7.3% + 5.0% - 27.4% + 3.0% + 3.3% - 12.6% New Listings Prior Year October 2015 98 116-15.5% November 2015 84 90-6.7% December 2015 57 55 +3.6% January 2016 89 117-23.9% February 2016 104 100 +4.0% March 2016 121 150-19.3% April 2016 133 146-8.9% May 2016 122 136-10.3% June 2016 110 155-29.0% July 2016 116 130-10.8% August 2016 127 103 +23.3% 2016 77 106-27.4% 12-Month Avg 103 117-11.8% Historical New Listings by Month 175 150 125 100 75 50 25 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 3
Pending Sales A count of the properties on which offers have been accepted in a given month. 77 677 727 60 560 55-1.8% + 9.1% + 28.3% - 1.6% + 20.9% + 7.4% Pending Sales Prior Year October 2015 77 65 +18.5% November 2015 59 61-3.3% December 2015 53 51 +3.9% January 2016 67 50 +34.0% February 2016 71 59 +20.3% March 2016 89 89 0.0% April 2016 86 94-8.5% May 2016 84 85-1.2% June 2016 95 86 +10.5% July 2016 78 93-16.1% August 2016 80 61 +31.1% 2016 77 60 +28.3% 12-Month Avg 76 71 +7.3% Historical Pending Sales by Month 150 125 100 75 50 25 0 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 4
Closed Sales A count of the actual sales that closed in a given month. 71 71 661 672 58 524 + 22.4% - 18.3% + 22.4% -6.1% + 26.1% + 1.7% Closed Sales Prior Year October 2015 58 69-15.9% November 2015 76 57 +33.3% December 2015 54 65-16.9% January 2016 56 49 +14.3% February 2016 49 43 +14.0% March 2016 77 65 +18.5% April 2016 69 85-18.8% May 2016 96 87 +10.3% June 2016 92 92 0.0% July 2016 88 89-1.1% August 2016 74 93-20.4% 2016 71 58 +22.4% 12-Month Avg 72 71 +0.9% Historical Closed Sales by Month 140 120 100 80 60 40 20 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 5
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. 158 156 145 147 154 126 Historical Days on Market Until Sale by Month - 6.5% - 8.2% - 13.1% - 7.1% - 5.8% + 4.8% Days on Market Prior Year October 2015 169 186-9.1% November 2015 162 171-5.3% December 2015 149 163-8.6% January 2016 162 163-0.6% February 2016 168 147 +14.3% March 2016 186 144 +29.2% April 2016 188 161 +16.8% May 2016 152 154-1.3% June 2016 149 142 +4.9% July 2016 137 132 +3.8% August 2016 128 145-11.7% 2016 126 145-13.1% 12-Month Avg* 155 153 +1.3% * Average Days on Market of all properties from October 2015 through 2016. This is not the average of the individual figures above. 220 200 180 160 140 120 100 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 6
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. $128,000 $137,950 $126,500 $114,900 $115,000 $120,000 Historical Median Sales Price by Month + 6.2% + 15.0% - 8.3% - 0.1% + 0.1% + 11.3% Median Sales Price Prior Year October 2015 $115,000 $114,900 +0.1% November 2015 $111,000 $120,000-7.5% December 2015 $109,750 $96,000 +14.3% January 2016 $123,500 $86,300 +43.1% February 2016 $120,000 $100,000 +20.0% March 2016 $112,750 $103,950 +8.5% April 2016 $127,500 $116,700 +9.3% May 2016 $130,000 $125,000 +4.0% June 2016 $158,500 $115,000 +37.8% July 2016 $109,900 $126,900-13.4% August 2016 $136,950 $127,500 +7.4% 2016 $126,500 $137,950-8.3% 12-Month Med* $125,000 $115,000 +8.7% * Median Sales Price of all properties from October 2015 through 2016. This is not the median of the individual figures above. $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 7
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $153,971 $153,305 $142,072 $146,849 $140,549 $139,928 Historical Average Sales Price by Month + 0.5% + 8.4% - 4.6% + 0.9% - 0.4% + 9.6% Avg. Sales Price Prior Year October 2015 $137,950 $125,604 +9.8% November 2015 $140,318 $137,789 +1.8% December 2015 $143,367 $147,963-3.1% January 2016 $192,410 $98,534 +95.3% February 2016 $127,285 $123,752 +2.9% March 2016 $139,895 $129,191 +8.3% April 2016 $148,840 $127,683 +16.6% May 2016 $149,431 $158,830-5.9% June 2016 $172,375 $137,428 +25.4% July 2016 $137,768 $143,461-4.0% August 2016 $164,988 $160,745 +2.6% 2016 $146,849 $153,971-4.6% 12-Month Avg* $150,123 $137,079 +9.5% * Avg. Sales Price of all properties from October 2015 through 2016. This is not the average of the individual figures above. $200,000 $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 8
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. 93.6% 93.8% 94.6% 94.4% 96.4% 94.5% Historical Percent of List Price Received by Month + 1.5% + 2.1% - 2.0% + 0.8% + 0.2% + 0.9% Pct. of List Price Received Prior Year October 2015 94.2% 95.6% -1.5% November 2015 91.3% 95.6% -4.5% December 2015 96.6% 93.0% +3.9% January 2016 93.2% 90.6% +2.9% February 2016 93.7% 90.4% +3.7% March 2016 95.9% 92.4% +3.8% April 2016 93.8% 92.9% +1.0% May 2016 95.5% 94.9% +0.6% June 2016 95.6% 95.4% +0.2% July 2016 93.4% 94.5% -1.2% August 2016 94.6% 93.9% +0.7% 2016 94.5% 96.4% -2.0% 12-Month Avg* 94.4% 94.0% +0.4% * Average Pct. of List Price Received for all properties from October 2015 through 2016. This is not the average of the individual figures above. 98.0% 96.0% 94.0% 92.0% 90.0% 88.0% 86.0% Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 9
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. 199 199 208 215 196 179-4.3% - 10.1% + 11.2% + 1.5% + 3.4% -8.8% Affordability Index Prior Year October 2015 214 212 +0.9% November 2015 220 203 +8.4% December 2015 224 256-12.5% January 2016 197 290-32.1% February 2016 210 250-16.0% March 2016 222 238-6.7% April 2016 197 214-7.9% May 2016 193 200-3.5% June 2016 159 214-25.7% July 2016 229 191 +19.9% August 2016 183 191-4.2% 2016 199 179 +11.2% 12-Month Avg 204 220-7.2% Historical Housing Affordability Index by Month 350 300 250 200 150 100 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 10
Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 719 649 467 + 8.1% - 28.0% + 8.1% -9.7% Historical Inventory of Homes for Sale by Month - 28.0% Homes for Sale Prior Year October 2015 618 709-12.8% November 2015 608 668-9.0% December 2015 546 586-6.8% January 2016 527 600-12.2% February 2016 518 598-13.4% March 2016 507 622-18.5% April 2016 523 641-18.4% May 2016 522 663-21.3% June 2016 504 668-24.6% July 2016 504 650-22.5% August 2016 502 643-21.9% 2016 467 649-28.0% 12-Month Avg* 529 646-18.1% * Homes for Sale for all properties from October 2015 through 2016. This is not the average of the individual figures above. 800 700 600 500 400 300 200 100 01-2007 01-2008 01-2009 01-2010 01-2011 01-2012 01-2013 01-2014 01-2015 01-2016 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 11
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. 12.7 9.1 6.1 + 13.4% - 28.3% - 33.0% Historical Months Supply of Inventory by Month Months Supply Prior Year October 2015 8.6 12.1-28.9% November 2015 8.4 11.1-24.3% December 2015 7.6 9.5-20.0% January 2016 7.2 9.8-26.5% February 2016 6.9 9.6-28.1% March 2016 6.8 9.6-29.2% April 2016 7.1 9.6-26.0% May 2016 7.1 9.6-26.0% June 2016 6.8 9.6-29.2% July 2016 6.9 8.9-22.5% August 2016 6.7 9.1-26.4% 2016 6.1 9.1-33.0% 12-Month Avg* 7.2 9.8-26.5% * Months Supply for all properties from October 2015 through 2016. This is not the average of the individual figures above. 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 Current as of October 10, 2016. All data from the Greenwood Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 12