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