Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS May 2015 The last 12 months have seen a lot of buyer activity. Prices are up in most markets and buyers are hungry to purchase, yet inventory remains low. If existing owners will not sell, new construction is the next best answer to this dilemma. For the 12-month period spanning June 2014 through May 2015, Pending Sales in the Hilton Head region were up 2.5 percent overall. The price range with the largest gain in sales was the $650,001 and range, where they increased 14.1 percent. Quick Facts + 14.1% + 5.7% + 18.0% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: 4 Bedrooms or Property Type With Strongest Sales: The overall Median Sales Price was up 3.9 percent to $265,000. The property type with the largest price gain was the segment, where prices increased 11.4 percent to $195,000. The price range that tended to sell the quickest was the range at 86 days; the price range that tended to sell the slowest was the range at 170 days. Market-wide, inventory levels were down 7.7 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 5.0 percent. That amounts to 7.6 months supply for Single- Family homes and 8.6 months supply for. Pending 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 June 10, 2015 Data is Copyright 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS and South Carolina REALTORS. Powered by 10K Research and Marketing. 1
Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total. 1,089 1,128 1,123 1,019 1,562 1,620 2,739 2,797 761 775 1,222 1,205 900 951 445 328 370 422 89 105-26.3% + 3.6% + 10.2% + 1.8% + 14.1% -1.4% + 3.7% + 5.7% + 2.1% + 18.0% Change Change Change 445 328-26.3% 177 114-35.6% 24 19-20.8% 1,089 1,128 + 3.6% 826 805-2.5% 22 38 + 72.7% 1,019 1,123 + 10.2% 788 855 + 8.5% 23 32 + 39.1% 761 775 + 1.8% 623 637 + 2.2% 16 13-18.8% 370 422 + 14.1% 325 386 + 18.8% 4 3-25.0% All Price Ranges 3,684 3,776 + 2.5% 2,739 2,797 + 2.1% 89 105 + 18.0% Change Change Change 1,222 1,205-1.4% 508 472-7.1% 71 82 + 15.5% 3 Bedrooms 1,562 1,620 + 3.7% 1,351 1,390 + 2.9% 18 22 + 22.2% 4 Bedrooms or 900 951 + 5.7% 880 935 + 6.3% 0 1 -- All Bedroom Counts 3,684 3,776 + 2.5% 2,739 2,797 + 2.1% 89 105 + 18.0% Current as of June 10, 2015 Data is Copyright 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS and South Carolina REALTORS. Powered by 10K Research and Marketing. 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. 174 170 139 133 121 93 86 92 93 106 118 135 135 107 111 102 105 108 106 106-6.6% + 0.3% + 11.2% + 0.5% - 2.3% + 5.2% + 6.4% -3.9% + 1.7% + 14.4% Change Change Change 93 86-6.6% 98 93-5.4% 78 99 + 27.8% 92 93 + 0.3% 79 74-6.4% 99 122 + 23.0% 106 118 + 11.2% 95 104 + 9.8% 144 132-8.0% 135 135 + 0.5% 128 129 + 0.8% 135 126-6.5% 174 170-2.3% 178 168-5.6% 197 139-29.2% All Price Ranges 112 116 + 3.6% 106 108 + 1.7% 106 121 + 14.4% Change Change Change 102 107 + 5.2% 67 62-8.1% 91 124 + 36.8% 3 Bedrooms 105 111 + 6.4% 102 107 + 5.1% 108 114 + 5.9% 4 Bedrooms or 139 133-3.9% 136 132-3.1% 414 98-76.3% All Bedroom Counts 112 116 + 3.6% 106 108 + 1.7% 106 121 + 14.4% Current as of June 10, 2015 Data is Copyright 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS and South Carolina REALTORS. Powered by 10K Research and Marketing. 3
Median Sales Price Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median. $451,250 $450,000 $255,000 $265,000 $278,000 $286,000 $285,000 $284,950 $175,000 $195,000 $174,900 $190,000 + 8.6% -0.0% -0.3% + 3.9% + 2.9% + 11.4% Change Change Change $174,900 $190,000 + 8.6% $197,000 $210,000 + 6.6% $143,000 $155,000 + 8.4% 3 Bedrooms $285,000 $284,950-0.0% $280,000 $279,900-0.0% $322,000 $320,000-0.6% 4 Bedrooms or $451,250 $450,000-0.3% $450,000 $450,000 0.0% $500,000 $407,500-18.5% All Bedroom Counts $255,000 $265,000 + 3.9% $278,000 $286,000 + 2.9% $175,000 $195,000 + 11.4% Current as of June 10, 2015 Data is Copyright 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS and South Carolina REALTORS. Powered by 10K Research and Marketing. 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. 96.1% 96.2% 96.2% 95.9% 95.4% 95.1% 95.6% 95.8% 95.8% 95.9% 94.8% 93.1% 93.3% 92.7% 93.6% 95.1% 95.0% 95.1% 95.2% 92.4% + 0.2% + 0.1% - 0.3% + 0.3% + 1.0% + 0.1% + 0.2% + 0.1% + 0.1% + 2.6% Change Change Change 93.1% 93.3% + 0.2% 93.9% 93.9% 0.0% 92.2% 93.8% + 4.2% 96.1% 96.2% + 0.1% 96.8% 97.1% + 0.3% 92.1% 94.4% + 2.5% 96.2% 95.9% - 0.3% 96.8% 96.4% - 0.4% 93.1% 95.1% + 2.1% 95.1% 95.4% + 0.3% 95.2% 95.6% + 0.4% 93.2% 96.6% + 3.6% 92.7% 93.6% + 1.0% 92.7% 93.5% + 0.9% 92.7% 95.6% + 3.1% All Price Ranges 95.3% 95.4% + 0.1% 95.8% 95.9% + 0.1% 92.4% 94.8% + 2.6% Change Change Change 95.0% 95.1% + 0.1% 96.8% 96.8% 0.0% 92.7% 94.9% + 2.4% 3 Bedrooms 95.6% 95.8% + 0.2% 95.9% 96.1% + 0.2% 93.1% 94.2% + 1.2% 4 Bedrooms or 95.1% 95.2% + 0.1% 95.2% 95.2% 0.0% 84.2% 94.9% + 12.7% All Bedroom Counts 95.3% 95.4% + 0.1% 95.8% 95.9% + 0.1% 92.4% 94.8% + 2.6% Current as of June 10, 2015 Data is Copyright 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS and South Carolina REALTORS. Powered by 10K Research and Marketing. 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. 519 467 665 650 544 669 683 684 785 669 975 948 926 861 1,866 1,773 820 705 169 114-32.5% - 10.0% - 18.2% + 2.9% + 0.1% - 14.8% - 2.8% - 7.0% -5.0% - 14.0% Change Change Change 169 114-32.5% 64 33-48.4% 105 81-22.9% 519 467-10.0% 286 250-12.6% 233 217-6.9% 665 544-18.2% 411 350-14.8% 254 194-23.6% 650 669 + 2.9% 492 525 + 6.7% 158 144-8.9% 683 684 + 0.1% 613 615 + 0.3% 70 69-1.4% All Price Ranges 2,686 2,478-7.7% 1,866 1,773-5.0% 820 705-14.0% Change Change Change 785 669-14.8% 162 138-14.8% 623 531-14.8% 3 Bedrooms 975 948-2.8% 799 788-1.4% 176 160-9.1% 4 Bedrooms or 926 861-7.0% 905 847-6.4% 21 14-33.3% All Bedroom Counts 2,686 2,478-7.7% 1,866 1,773-5.0% 820 705-14.0% Current as of June 10, 2015 Data is Copyright 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS and South Carolina REALTORS. Powered by 10K Research and Marketing. 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. 22.2 12.3 10.4 19.5 10.9 8.2 7.6 8.6 10.2 10.4 7.7 7.5 6.7 7.0 4.6 4.2 5.7 5.0 7.8 5.8-8.7% - 12.3% - 25.6% + 2.0% - 12.2% - 13.0% - 6.7% - 11.4% - 7.3% - 17.3% Change Change Change 4.6 4.2-8.7% 4.3 3.5-18.6% 4.7 4.5-4.3% 5.7 5.0-12.3% 4.2 3.7-11.9% 10.6 8.1-23.6% 7.8 5.8-25.6% 6.3 4.9-22.2% 13.2 8.7-34.1% 10.2 10.4 + 2.0% 9.5 9.9 + 4.2% 13.7 12.5-8.8% 22.2 19.5-12.2% 22.6 19.1-15.5% 18.7 23.0 + 23.0% All Price Ranges 8.7 7.9-9.2% 8.2 7.6-7.3% 10.4 8.6-17.3% Change Change Change 7.7 6.7-13.0% 3.8 3.5-7.9% 10.5 8.7-17.1% 3 Bedrooms 7.5 7.0-6.7% 7.1 6.8-4.2% 10.0 8.3-17.0% 4 Bedrooms or 12.3 10.9-11.4% 12.3 10.9-11.4% 9.5 7.0-26.3% All Bedroom Counts 8.7 7.9-9.2% 8.2 7.6-7.3% 10.4 8.6-17.3% Current as of June 10, 2015 Data is Copyright 2015 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS and South Carolina REALTORS. Powered by 10K Research and Marketing. 7