grand strand market reportsloan/...research performed by grand strand market report august 2016...

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Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales up 4.3%. The median sales price of new construction is up 3.6% for the month. Condo sales in August are up 18.4% with prices rising 5.5% compared to August 2015. Residential lot sales are down 6.6% compared to August 2015 and down 10.9% for the year. SFR sales volume dipped 5.6% in August which marked three consecutive months of decline as compared to 2015 record performance. Year-to-date, SFR sales are up 4.3% compared to 2015. Median sales price increased to $207,900, up 0.5% for the month, and up 3% in 2016. When compared to August 2015, sales prices for new construction and resales are up 3.6% and 1% respectively. Year-to-date, the median sales price for new construction has dropped 1.4% with resales up 7.8%. The average sold-to-list ratio for Single Family Residential sales in August was 95%, flat compared to the same month in 2015. August was a good month for the condo market with sales up 18.4% compared to August 2015 and up 8.7% year-to-date compared to 2015. Condo inventory increased 0.6% in August. Median sales price increased 5.5% to $125,000 in August and maintained its growth at 2.6% for the year. The average sold to list ratio for condo sales in August was 94%, up 200 basis points compared to the same month in 2015. Residential lot sales were down 6.6% in August compared to 2015 and are down 10.9% year-to- date. Median sales price saw a 10% decrease for the month compared to 2015 with the year- to-date sales price decreasing 2.6%. However, sold to list ratios are up 600 basis points across the board. At a glance… SFR Condo Residential Lot Sales Inventory Sales Inventory Sales Inventory Month YTD Month Month YTD Month Month YTD Month - Median Sales Price Median Sales Price Median Sales Price $207,900 $125,000 $45,000

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Page 1: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

Research performed by

Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

up 4.3%. The median sales price of new construction is up 3.6% for the month.

Condo sales in August are up 18.4% with prices rising 5.5% compared to August

2015. Residential lot sales are down 6.6% compared to August 2015 and down

10.9% for the year.

SFR sales volume dipped 5.6% in August which marked three consecutive months of decline as compared to 2015 record performance. Year-to-date, SFR sales are up 4.3% compared to 2015. Median sales price increased to $207,900, up 0.5% for the month, and up 3% in 2016. When compared to August 2015, sales prices for new construction and resales are up 3.6% and 1% respectively. Year-to-date, the median sales price for new construction has dropped 1.4% with resales up 7.8%. The average sold-to-list ratio for Single Family Residential sales in August was 95%, flat compared to the same month in 2015.

August was a good month for the condo market with sales up 18.4% compared to August 2015 and up 8.7% year-to-date compared to 2015. Condo inventory increased 0.6% in August. Median sales price increased 5.5% to $125,000 in August and maintained its growth at 2.6% for the year. The average sold to list ratio for condo sales in August was 94%, up 200 basis points compared to the same month in 2015.

Residential lot sales were down 6.6% in August compared to 2015 and are down 10.9% year-to-date. Median sales price saw a 10% decrease for the month compared to 2015 with the year-to-date sales price decreasing 2.6%. However, sold to list ratios are up 600 basis points across the board.

At a glance…

SFR Condo Residential Lot

Sales Inventory Sales Inventory Sales Inventory Month YTD Month Month YTD Month Month YTD Month

-

Median Sales Price Median Sales Price Median Sales Price

$207,900 $125,000 $45,000

Page 2: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

2 Research performed by

Contents

Active Inventory 3

Inventory Trends – SFR & Condo 4

Closed Sales – SFR 5

Median Sales Price – SFR 6

Sold to List Price Ratio – SFR 7

New Construction vs Resale – SFR

% of Total Sales 8

Median Sales Price 9

Closed Sales – Condo 10

Median Sales Price – Condo 11

Sold to List Price Ratio – Condo 11

Closed Sales – Residential Lot 12

Median Sales Price – Residential Lot 13

Sold to List Price Ratio – Residential Lot 13

Be sure to check out our website for daily updates and breaking news in the real estate and financial markets, also…

“Like” us on Facebook – www.facebook.com/SiteTechSystems

Follow us on Twitter – @SiteTechSystems

www.sitetechsystems.com

Page 3: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

3 Research performed by

Grand Strand Active Inventory Single Family Residential Distribution by Price Range

Condo/Townhome Distribution by Price Range

Residential Lot Distribution by Price Range

Horry Co. G’town Co.

Less than $150k 699 75

$150k - $250k 1,729 123 $250k - $500k 1,602 323

$500k - $1.0 MM 387 150

$1 MM + 109 97

# Listings

Horry Co. 4,526 Georgetown 768

Total 5,294

Average List Price $351,509 Median List Price $253,990

Horry Co. G’town Co.

Less than $100k 921 30 $100k - $150k 936 80

$150k - $200k 592 68 $200k - $400k 988 99

$400k - $750k 168 91

$750k + 31 22

# Listings

Horry Co. 3,636

Georgetown 390

Total 4,026 Average List Price $200,152

Median List Price $154,900

Horry Co. G’town Co.

Less than $25k 205 71

$25k - $50k 401 88

$50k - $75k 240 59 $75k - $100k 143 70

$100k - $175k 198 128 $175k - 250k 112 88

$250k + 120 138

# Listings

Horry Co. 1,419

Georgetown 642

Total 2,061

Average List Price $137,540

Median List Price $71,000

Page 4: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

4 Research performed by

Grand Strand Inventory Trends SFR Inventory - August

Historical Data

Condo Inventory – August

Historical Data

May-105,453

Dec-114,340

Aug-165,294

4,0004,2004,4004,6004,8005,0005,2005,4005,6005,800

May

-10

Au

g-1

0

No

v-1

0

Feb

-11

May

-11

Au

g-1

1

No

v-1

1

Feb

-12

May

-12

Au

g-1

2

No

v-1

2

Feb

-13

May

-13

Au

g-1

3

No

v-1

3

Feb

-14

May

-14

Au

g-1

4

No

v-1

4

Feb

-15

May

-15

Au

g-1

5

No

v-1

5

Feb

-16

May

-16

Au

g-1

6

4,428

4,1564,246

4,003 4,026

2012 2013 2014 2015 2016

Jun-105,748

Dec-133,930

Aug-164,026

3,500

4,000

4,500

5,000

5,500

6,000

May

-10

Au

g-1

0

No

v-1

0

Feb

-11

May

-11

Au

g-1

1

No

v-1

1

Feb

-12

May

-12

Au

g-1

2

No

v-1

2

Feb

-13

May

-13

Au

g-1

3

No

v-1

3

Feb

-14

May

-14

Au

g-1

4

No

v-1

4

Feb

-15

May

-15

Au

g-1

5

No

v-1

5

Feb

-16

May

-16

Au

g-1

6

4,7254,870

5,274 5,424 5,294

2012 2013 2014 2015 2016

Page 5: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

5 Research performed by

Closed Sales – SFR August Year to Date

Historical Data

Year Over Year

542

656619

2014 2015 2016

3,817

4,608 4,804

2014 2015 2016

Jan-09149

Jun-15756

Aug-16619

100

200

300

400

500

600

700

800

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

0

200

400

600

800

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 2016

Page 6: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

6 Research performed by

Median Sales Price – SFR

August Year to Date

Historical Data

$194,000

$206,819 $207,900

2014 2015 2016

$190,000

$200,000

$206,000

2014 2015 2016

Jun-06$242,310

Sep-12$160,163

Aug-16$207,900

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Page 7: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

7 Research performed by

Sold to List Price Ratio – SFR

August Year to Date

Historical Data

96%

95% 95%

2014 2015 2016

94%

95%

96%

2014 2015 2016

Jan-0698%

August-09 & Apr-1186%

Aug-1695%

80

82

84

86

88

90

92

94

96

98

100

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Page 8: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

8 Research performed by

New Construction vs Resale – SFR % of Total Sales

August Year to Date

Historical Data – % of Total Sales

32% 34% 35%

68% 66% 65%

2014 2015 2016

New Construction Resale

32% 36% 32%

68% 64% 68%

2014 2015 2016

New Construction Resale

Apr-1322%

Jun-1336%

Dec-1336%

Aug-1632%

Apr-1378%

Jun-1364%

Dec-1364%

Aug-1668%

0

100

200

300

400

500

600

700

800

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Sep

-11

No

v-1

1

Jan

-12

Mar

-12

May

-12

Jul-

12

Sep

-12

No

v-1

2

Jan

-13

Mar

-13

May

-13

Jul-

13

Sep

-13

No

v-1

3

Jan

-14

Mar

-14

May

-14

Jul-

14

Sep

-14

No

v-1

4

Jan

-15

Mar

-15

May

-15

Jul-

15

Sep

-15

No

v-1

5

Jan

-16

Mar

-16

May

-16

Jul-

16

Total SFR Sales % New Construction % Resale

Page 9: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

9 Research performed by

New Construction vs Resale – SFR Median Sales Price

August Year to Date

Historical Data – Median Sales Price

$222,000 $229,900 $226,780

$172,500 $180,000$194,000

2014 2015 2016

New Construction Resale

$214,900 $221,950$229,899

$184,800 $192,000 $194,000

2014 2015 2016

New Construction Resale

Aug-12$183,320

Mar-14$249,440 Aug-16

$229,899

Nov-11$145,000

Aug-14$184,900

Aug-16$194,000

$120,000

$140,000

$160,000

$180,000

$200,000

$220,000

$240,000

$260,000

Sep

-11

No

v-1

1

Jan

-12

Mar

-12

May

-12

Jul-

12

Sep

-12

No

v-1

2

Jan

-13

Mar

-13

May

-13

Jul-

13

Sep

-13

No

v-1

3

Jan

-14

Mar

-14

May

-14

Jul-

14

Sep

-14

No

v-1

4

Jan

-15

Mar

-15

May

-15

Jul-

15

Sep

-15

No

v-1

5

Jan

-16

Mar

-16

May

-16

Jul-

16

New Construction Resale

Page 10: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

10 Research performed by

Closed Sales – Condo

August Year to Date

Historical Data

Year Over Year

370 381

451

2014 2015 2016

2,807

3,087

3,357

2014 2015 2016

May-06845

Jan-09117

Aug-16451

100

200

300

400

500

600

700

800

900

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

0

100

200

300

400

500

600

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 2016

Page 11: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

11 Research performed by

Median Sales Price – Condo

August Year to Date

Historical Data

Sold to List Price Ratio – Condo

August Year to Date

Historical Data

$112,000

$118,500

$125,000

2014 2015 2016

$110,000

$115,000

$118,000

2014 2015 2016

90%

92%

94%

2014 2015 2016

91%

92%

93%

2014 2015 2016

Mar-06& Apr-06

98%

Apr-09 & August-0981%

Aug-1694%

75

80

85

90

95

100

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16

Jun-07$249,921

Nov-11$93,450

Aug-16$125,000

$50,000

$100,000

$150,000

$200,000

$250,000

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16

Page 12: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

12 Research performed by

Closed Sales – Residential Lot

August Year to Date

Historical Data

Year Over Year

0

50

100

150

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 2016

69

9185

2014 2015 2016

663

723

644

2014 2015 2016

Apr-06266

Jan-0911

Aug-1685

0

50

100

150

200

250

300

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Page 13: Grand Strand Market ReportSloan/...Research performed by Grand Strand Market Report August 2016 Single Family Residential sales activity maintains strength with year-to-date sales

13 Research performed by

Median Sales Price – Residential Lot

August Year to Date

Historical Data

Sold to List Price Ratio – Residential Lot

August Year to Date

Historical Data

$46,500

$50,000

$45,000

2014 2015 2016

$50,000

$48,250 $47,000

2014 2015 2016

Aug-06$130,000

Nov-11$15,000

Aug-16$45,000

$0

$50,000

$100,000

$150,000

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16

79%78%

84%

2014 2015 2016

82%

78%

84%

2014 2015 2016

Apr-0699%

Nov-1147%

Aug-1684%

40

60

80

100

120

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16