Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS May 2016 Sellers are getting more of their asking price, meaning higher sales prices in most categories. The overall inventory crunch is still in play, but higherpriced homes seem to be faring better with inventory in year-over-year comparisons. For the 12-month period spanning June 2015 through May 2016, Closed Sales in the Coastal Carolinas region were up 8.0 percent overall. The price range with the largest gain in sales was the $300,001 and range, where they increased 17.5 percent. Quick Facts + 17.5% + 14.2% + 10.8% 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 4.1 percent to $165,000. The property type with the largest price gain was the segment, where prices increased 5.3 percent to $196,900. The price range that tended to sell the quickest was the range at 142 days; the price range that tended to sell the slowest was the range at 195 days. Market-wide, inventory levels were down 6.0 percent. The property type that lost the least inventory was the segment, where it decreased 4.0 percent. That amounts to 6.4 months supply for Single-Family homes and 8.4 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 June 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. 2,475 2,508 2,358 2,660 2,223 2,452 2,347 2,701 5,957 6,339 6,726 7,453 1,574 1,849 2,914 3,150 1,987 2,270 4,401 4,567-4.7% + 6.1% + 10.3% + 15.1% + 17.5% + 8.1% + 6.4% + 14.2% + 10.8% + 3.8% Change Change Change 2,475 2,358-4.7% 775 664-14.3% 1,700 1,694-0.4% 2,508 2,660 + 6.1% 1,320 1,360 + 3.0% 1,188 1,300 + 9.4% 2,223 2,452 + 10.3% 1,537 1,745 + 13.5% 686 707 + 3.1% 2,347 2,701 + 15.1% 1,828 2,153 + 17.8% 519 548 + 5.6% 1,574 1,849 + 17.5% 1,266 1,531 + 20.9% 308 318 + 3.2% All Price Ranges 11,127 12,020 + 8.0% 6,726 7,453 + 10.8% 4,401 4,567 + 3.8% Change Change Change 2,914 3,150 + 8.1% 392 484 + 23.5% 2,522 2,666 + 5.7% 3 Bedrooms 5,957 6,339 + 6.4% 4,495 4,861 + 8.1% 1,462 1,478 + 1.1% 4 Bedrooms or 1,987 2,270 + 14.2% 1,839 2,108 + 14.6% 148 162 + 9.5% All Bedroom Counts 11,127 12,020 + 8.0% 6,726 7,453 + 10.8% 4,401 4,567 + 3.8% Current as of June 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. 147 151 152 142 149 144 168 163 187 195 174 170 166 162 160 152 153 152 154 152-3.5% - 1.4% - 5.3% - 3.4% + 4.0% -5.2% -0.1% -2.4% -1.2% -2.3% Change Change Change 147 142-3.5% 135 131-2.8% 153 147-3.8% 151 149-1.4% 140 142 + 1.3% 166 158-4.5% 152 144-5.3% 140 134-4.8% 178 170-4.2% 168 163-3.4% 164 157-4.1% 185 186 + 0.2% 187 195 + 4.0% 186 190 + 1.9% 193 222 + 14.9% All Price Ranges 159 156-1.8% 154 152-1.2% 166 162-2.3% Change Change Change 160 152-5.2% 147 131-11.2% 162 156-4.0% 3 Bedrooms 153 152-0.1% 147 148 + 0.4% 169 167-1.1% 4 Bedrooms or 174 170-2.4% 172 167-3.1% 192 202 + 5.7% All Bedroom Counts 159 156-1.8% 154 152-1.2% 166 162-2.3% Current as of June 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. $278,620 $283,000 $168,500 $174,000 $158,500 $165,000 $187,000 $196,900 $115,000 $117,500 $99,000 $103,450 + 4.5% + 3.3% + 1.6% + 4.1% + 5.3% + 2.2% Change Change Change $99,000 $103,450 + 4.5% $112,250 $116,450 + 3.7% $97,500 $100,000 + 2.6% 3 Bedrooms $168,500 $174,000 + 3.3% $169,900 $176,900 + 4.1% $163,000 $160,000-1.8% 4 Bedrooms or $278,620 $283,000 + 1.6% $275,000 $280,000 + 1.8% $310,000 $317,475 + 2.4% All Bedroom Counts $158,500 $165,000 + 4.1% $187,000 $196,900 + 5.3% $115,000 $117,500 + 2.2% Current as of June 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. 96.4% 96.5% 97.4% 96.9% 97.2% 97.3% 96.5% 96.7% 97.0% 96.7% 96.7% 96.3% 96.6% 97.0% 93.0% 93.1% 94.5% 94.1% 94.7% 94.8% + 0.1% + 0.1% + 0.5% + 0.1% + 0.2% + 0.4% + 0.3% + 0.4% + 0.4% + 0.1% Change Change Change 93.0% 93.1% + 0.1% 92.1% 92.1% 0.0% 93.4% 93.4% 0.0% 96.4% 96.5% + 0.1% 97.1% 97.4% + 0.3% 95.4% 95.4% 0.0% 96.9% 97.4% + 0.5% 97.4% 97.7% + 0.3% 96.0% 96.6% + 0.6% 97.2% 97.3% + 0.1% 97.5% 97.7% + 0.2% 95.7% 95.7% 0.0% 96.5% 96.7% + 0.2% 96.8% 97.0% + 0.2% 95.3% 95.1% - 0.2% All Price Ranges 95.9% 96.2% + 0.3% 96.6% 97.0% + 0.4% 94.7% 94.8% + 0.1% Change Change Change 94.1% 94.5% + 0.4% 93.1% 94.3% + 1.3% 94.3% 94.5% + 0.2% 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% 96.4% 96.8% + 0.4% 95.5% 95.4% - 0.1% All Bedroom Counts 95.9% 96.2% + 0.3% 96.6% 97.0% + 0.4% 94.7% 94.8% + 0.1% Current as of June 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. 2,094 2,072 3,469 3,207 4,324 3,997 1,342 1,006 1,522 1,369 1,218 1,188 1,593 1,670 2,230 2,064 1,878 1,855 3,445 3,308-25.0% - 10.1% - 2.5% + 4.8% - 1.1% -7.4% - 7.6% - 1.2% -7.6% -4.0% Change Change Change 1,342 1,006-25.0% 349 209-40.1% 993 797-19.7% 1,522 1,369-10.1% 589 476-19.2% 933 893-4.3% 1,218 1,188-2.5% 716 685-4.3% 502 503 + 0.2% 1,593 1,670 + 4.8% 1,086 1,065-1.9% 507 605 + 19.3% 2,094 2,072-1.1% 1,584 1,562-1.4% 510 510 0.0% All Price Ranges 7,769 7,305-6.0% 4,324 3,997-7.6% 3,445 3,308-4.0% Change Change Change 2,230 2,064-7.4% 248 185-25.4% 1,982 1,879-5.2% 3 Bedrooms 3,469 3,207-7.6% 2,365 2,118-10.4% 1,104 1,089-1.4% 4 Bedrooms or 1,878 1,855-1.2% 1,711 1,694-1.0% 167 161-3.6% All Bedroom Counts 7,769 7,305-6.0% 4,324 3,997-7.6% 3,445 3,308-4.0% Current as of June 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. 6.5 5.0 7.2 6.1 6.3 5.8 7.9 7.4 15.2 13.3 8.9 7.8 6.9 6.0 10.8 9.8 7.4 6.4 9.3 8.4-22.1% - 15.5% - 8.7% - 6.0% - 13.0% - 12.5% - 12.7% - 9.7% - 13.5% - 9.7% Change Change Change 6.5 5.0-22.1% 5.5 3.7-33.1% 6.9 5.6-19.0% 7.2 6.1-15.5% 5.2 4.2-19.9% 9.4 7.9-15.1% 6.3 5.8-8.7% 5.3 4.8-9.6% 8.9 8.1-8.6% 7.9 7.4-6.0% 6.9 6.0-12.2% 11.4 12.3 + 7.8% 15.2 13.3-13.0% 14.2 12.1-14.7% 20.0 19.0-5.0% All Price Ranges 8.2 7.2-12.2% 7.4 6.4-13.5% 9.3 8.4-9.7% Change Change Change 8.9 7.8-12.5% 7.0 4.6-34.1% 9.2 8.3-9.4% 3 Bedrooms 6.9 6.0-12.7% 6.1 5.2-14.8% 9.1 8.3-9.0% 4 Bedrooms or 10.8 9.8-9.7% 10.6 9.6-9.0% 14.3 11.6-18.7% All Bedroom Counts 8.2 7.2-12.2% 7.4 6.4-13.5% 9.3 8.4-9.7% Current as of June 10, 2016 All data comes from the Coastal Carolinas Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2016 ShowingTime. 7