march, 2013 market report

Grand Strand Market Report Contents Active Inventory 2

SFR Inventory Trends 3

Condo Inventory Trends 4

Closed Sales – SFR 5

Avg. Sales Price – SFR 6

Median Sales Price – SFR 7

Median Sales Price – SFR (Distressed & Non-Distressed) 8

Median Sales Price – SFR (Cash & Conventional Transactions) 9

SFR Sales – (% Cash vs. % Conventional) 10

Sales to List Price Ratio – SFR 11

Closed Sales – Condo 12

Avg. Sales Price – Condo 13

Median Sales Price – Condo 14

Median Sales Price–Condo (Distressed & Non-Distressed) 15

Median Sales Price – Condo (Cash & Conventional Transactions) 16

Condo Sales – (% Cash vs. % Conventional) 17

Sales to List Price Ratio – Condo 18

Closed Sales – Residential Lot 19

Avg. Sales Price – Residential Lot 20

Median Sales Price – Residential Lot 21

Median Sales Price – Res. Lot (Non-Distressed) 22

Sold to List Price Ratio – Residential Lot 23

Distressed Inventory 24

Distressed Sales 25

March 2013

Research powered by SiteTech Systems

Solid First Quarter for Grand Strand Real Estate Activity…..sales activity up double digits and sales prices have stabilized and rebounded The momentum for the last half of 2012 carried into the first quarter of 2013 in both Single Family Residential (SFR) and Condo activity. In March, SFR sales volume was up 11.6% as compared to March, 2012. This solid growth translated to Year to Date (YTD) sales to be up 11.6% to prior year levels. SFR inventory maintained it seasonal increase and is now 4.6% higher than March 2012 levels. Non distressed listings continued to decline and now represent 12.6% of all SFR listings. Continuing its trend from February, SFR median sales price was $176,000. YTD, the SFR median sales price is $174,990 which is up 3.5% from its 2012 level. The improvement in median sales price is driven by a reduction in the percentage of distressed sales. For condos, the listing inventory increased seasonally but is down 11.7% from its 2012 level. Distressed condo listings continue to decline and are down 33% from its prior year’s level. Condo sales remained strong, up 3.7% for March 2012. YTD, condo sales are up 9.3% from their 2012 level. Driven by cash and distressed sales prices, the median sales price for condos slid to $101,750. However, the YTD median sales price of condo sales are up 4.5% from 2012. After a strong 2012, residential lot sales activity has slowed and are down 8.1% from their 2012 levels. The median sales price of residential lots have remained stable at approximately $35,000.

Grand Strand Active Inventory

Single Family Residential # Listings

Horry Co. 4,000

Georgetown Co. 869

Total 4,869

Average List Price $332,569

Median List Price $224,900

Condo/Townhome # Listings

Horry Co. 3,819

Georgetown Co. 412

Total 4,231



Horry Co.

G’town Co.

Less than $150k 1,122 92

$150k - $250k 1,451 188

$250k - $500k 1,075 312

$500k - $1.0 MM 255 157

$1 MM + 97 120

Horry Co.

G’town Co.

Less than $100k 1,304 52

$100k - $150k 972 102

$150k - $200k 601 68

$200k - $400k 715 98

$400k -$750k 183 62

$750+ 44 30

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,735

Georgetown Co. 762

Total 2,497



Horry Co.

G’town Co.

Less than $25k 294 76

$25k - $50k 680 93

$50k - $75k 249 83

$75k-100k 145 111

$100k-175k 170 149

$175k -250k 82 120

$250k+ 115 130

Presenter

Presentation Notes

done

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

March 2011 5,033

March 2012 4,656

March 2013 4,869

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

# of

Lis

tings

Grand Strand SFR Inventory

March 2011 873 March 2012

816

March 2013 612

600

650

700

750

800

850

900

950

# of

Dis

tres

sed

List

ings

Grand Strand Distressed SFR Listings

Presenter

Presentation Notes

done

Grand Strand Condo Inventory Trends


March 2011 5,105

March 2012 4,789

March 2013 4,231

4,0004,2004,4004,6004,8005,0005,2005,4005,600

# of

Lis

tings

Grand Strand Condo Inventory

March 2011 928

March 2012 828

March 2013 556

550600650700750800850900950

1000

# of

Dis

tres

sed

Grand Strand Distressed Condo Listings

Presenter

Presentation Notes

done

Closed Sales - SFR

March Year to Date

Historical Activity


342327

365

2011 2012 2013

January 2008 149

August 2010 414

March 2013 365

050

100150200250300350400450

Mar 08 Mar 09 Mar 10 Mar 11 Mar 12 Mar 13

803888

991

2011 2012 2013

Presenter

Presentation Notes

done

Average Sales Price - SFR March Year to Date

Historical Activity


$240,700

$225,022 $227,943

2011 2012 2013

$226,323

$218,549$221,693

2011 2012 2013

September 2008 $314,788

September 2012 $197,947

March 2013 $227,943

$150,000$170,000$190,000$210,000$230,000$250,000$270,000$290,000$310,000$330,000


Presenter

Presentation Notes

donezo

Median Sales Price - SFR March

$185,050

$164,445

$176,000

2011 2012 2013

Year to Date

Historical Activity


$172,000$169,900

$174,990

2011 2012 2013

April 2008 $225,000

November 2012 $154,950

March 2013 $176,000

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000


Median Sales Price – SFR Distressed & Non-Distressed


100,000

125,000

150,000

175,000

200,000

225,000

250,000

Non-Distressed

Distressed

Combined

Presenter

Presentation Notes

Not done

Median Sales Price – SFR Cash & Conventional Transactions


$125,000

$135,000

$145,000

$155,000

$165,000

$175,000

$185,000

$195,000

$205,000

$215,000

$225,000

Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May 12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13

Cash

Conventional

Combined

Presenter

Presentation Notes

Not done

SFR Sales % Cash vs. % Conventional


0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

% Cash

% Conventional

Presenter

Presentation Notes

Not done

Sold to List Price Ratio - SFR March

88%89%

93%

2011 2012 2013

Year to Date

Historical Activity


88%90%

92%

2011 2012 2013

Mar’-April 2008 92%

April 2011 86%

March 2013 93%

82

84

86

88

90

92

94


Presenter

Presentation Notes

done

Closed Sales - Condo March

374

326338

2011 2012 2013

Year to Date

Historical Activity


821836

914

2011 2012 2013

January 2009 117

May 2012 383 March 2013

338

050

100150200250300350400450


Average Sales Price - Condo March Year to Date

Historical Activity


$138,258

$126,869

$132,833

2011 2012 2013

$144,486

$129,825 $129,718

2011 2012 2013

March 08 $228,044

December 2010 $105,000

March 2013 $129,718

$0

$50,000

$100,000

$150,000

$200,000

$250,000


Presenter

Presentation Notes

donezo

Median Sales Price - Condo March

$114,550

$105,000 $101,750

2011 2012 2013

Year to Date

Historical Activity


$106,900

$99,000

$104,500

2011 2012 2013

April 2008 $173,500

November 2011 $93,450 March 2013

$101,750

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$180,000


Presenter

Presentation Notes

done

Median Sales Price – Condo Distressed & Non-Distressed


$60,000

$70,000

$80,000

$90,000

$100,000

$110,000

$120,000

$130,000

$140,000M

ar-1

1

Apr-

11

May

-11

Jun-

11

Jul-1

1

Aug-

11

Sep-

11

Oct

-11

Nov

-11

Dec-

11

Jan-

12

Feb-

12

Mar

-12

Apr-

12

May

-12

Jun-

12

Ju1-

12

Aug-

12

Sep-

12

Oct

-12

Nov

-12

Dec-

12

Jan-

13

Feb-

13

Mar

-13

Non-Distressed

Distressed

Combined

Presenter

Presentation Notes

done

Median Sales Price – Condo Cash & Conventional Transactions


$50,000

$70,000

$90,000

$110,000

$130,000

$150,000

$170,000

Mar

-11

Apr-

11

May

-11

Jun-

11

Jul-1

1

Aug-

11

Sep-

11

11-O

ct

11-N

ov

Dec-

11

Jan-

12

12-F

eb

Mar

-12

Apr-

12

May

-12

Jun-

12

Jul-1

2

Aug-

12

Sep-

12

Oct

-12

Nov

-12

Dec-

12

Jan-

13

Feb-

13

Mar

-13

Cash

Conventional

Combined

Presenter

Presentation Notes

done

Condo Sales % Cash vs. % Conventional


0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

Mar

-11

Apr-

11

May

-11

Jun-

11

Jul-1

1

Aug-

11

11-S

ep

11-O

ct

11-N

ov

Dec-

11

Jan-

12

12-F

eb

Mar

-12

Apr-

12

May

-12

Jun-

12

Jul-1

2

Aug-

12

Sep-

12

Oct

-12

Nov

-12

Dec-

12

Jan-

13

Feb-

13

Mar

-13

% Cash

% Conventional

Presenter

Presentation Notes

done

Sold to List Price Ratio - Condo March

86%87%

89%

2011 2012 2013

Year to Date

Historical Activity


87%86%

89%

2011 2012 2013

Feb’-March 2009 81%

August 2012 91%

March 2013 89%

78

80

82

84

86

88

90

92


Presenter

Presentation Notes

done

Closed Sales – Residential Lot

74

8978

2011 2012 2013

Year to Date

Historical Activity

19

March

Research performed by SiteTech Systems

155

234215

2011 2012 2013

January 2009 11

May 2012 121

March 2013 78

0

20

40

60

80

100

120

140


Average Sales Price – Residential Lot March Year to Date

Historical Activity


$63,813

$87,569

$62,044

2011 2012 2013

$64,313

$74,097 $70,071

2011 2012 2013

July 2008 $275,614

October 2011 $35,780

March 2013 $62,044

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000


Median Sales Price – Residential Lot March

$38,000

$35,000 $34,500

2011 2012 2013

Year to Date

Historical Activity


$38,000

$35,000 $34,000

2011 2012 2013

May 2008 $106,000

November 2011 $15,000

March 2013 $34,500

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

Mar 08 Mar 09 Mar10 Mar 11 Mar 12 Mar 13

Median Sales Price – Res. Lot (Non-Distressed) March

$55,775 $53,000

$35,000

2011 2012 2013

Year to Date

Historical Activity


$41,500

$45,000 $45,000

2011 2012 2013

August 2011 $83,000

October 2011 $23,250

March 2013 $35,000

$- $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000

Sold to List Price Ratio – Residential Lot March Year to Date

72%

70%

77%

2011 2012 2013

Historical Activity


76%

72%

79%

2011 2012 2013

June 2008 93%

November 2011 47%

March 2013 79%

40

50

60

70

80

90

100


Grand Strand Distressed Inventory

Single Family Residential # Listings

Horry Co. 545

Georgetown Co. 67

Total 612



Condo/Townhome # Listings

Horry Co. 516

Georgetown Co. 40

Total 556



Horry Co.

G’town Co.


$150k - $250k 134 23

$250k - $500k 82 10

$500k - $1.0 MM 18 6

$1 MM + 3 1

Distribution by Price Range


Residential Lot # Listings

Horry Co. 215

Georgetown Co. 85

Total 300



Horry Co.

G’town Co.


$25k - $50k 83 17

$50k - $75k 28 10

$75k-100k 10 14

$100k-175k 14 13

$175k -250K 3 6

$250K + 4 4

Horry Co.

G’town Co.


$100k - $150k 85 8

$150k - $200k 53 4

$200k - $400k 57 8

$400k -$750k 8 4

$750+ 1 -

Presenter

Presentation Notes

donzooooooooooooooooo

Distressed Sales Total

Mar May Jul Sep Nov Jan Mar

SFR


Condo



% Total Sales

33 28 28 29 29 29 29

23 25 25 27 28 24

Mar May Jul Sept Nov Jan Mar

Presenter

Presentation Notes

Not done

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Monthly Indicators A RESEARCH TOOL PROVIDED BY THE COASTAL CAROLINAS ASSOCIATION OF REALTORS®

March 2013 Quick Facts

23456789

10111213

All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | 1

+ 3.6%Change in

Closed SalesSingle-Family Only

Click on desired metric to jump to that page.

With spring here in all its bounty, it's time to renew, refresh and revive our understanding of what's fueling the ongoing market recovery. First, tightened inventory levels combined with strong demand are fueling price gains in many areas. Second, consumer demand is shifting from distressed properties to conventional homes. Third, record-low mortgage rates and rising rents are supporting housing recovery. Let's check the local scene.

New Listings in the Coastal Carolinas region were up 9.4 percent for detached homes but decreased 9.5 percent for condos. Pending Sales increased 37.4 percent for single-family homes and 7.8 percent for condos.

The Median Sales Price was up 3.1 percent to $165,000 for single-family properties but decreased 5.2 percent to $97,750 for condo units. Months Supply of Inventory decreased 25.2 percent for single-family units and 30.4 percent for townhouse-condo units.

On the economic front, things inched forward. We saw a minor but important upward revision to Q4-2012 GDP growth that put us back in positive territory. In the political arena, key debates over the deficit, marriage, gun law, immigration reform and tax policy rage onward. The squeaky wheel gets the grease, and with this emerging housing recovery, there are no imminent housing-related bills. Perhaps that's a good thing.

- 4.2%Change in

Closed SalesCondo Only

- 0.1%Change in

Closed SalesAll Properties

Single-Family Market OverviewCondo Market OverviewNew ListingsPending SalesClosed SalesDays On Market Until Sale

Months Supply of Inventory

Median Sales PriceAverage Sales PricePercent of List Price ReceivedHousing Affordability IndexInventory of Homes for Sale

Single-Family Market Overview

Key Metrics Historical Sparklines 3-2012 3-2013 + / – YTD 2012 YTD 2013 + / –

All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2

11.9

154 + 4.1%

- 7.8%

- 25.2%

3,969

8.9

150

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

$162,810 $165,000

+ 0.1%

- 4.8% 181 167 - 7.7%

+ 1.3%

+ 1.5% 95.1% 95.2%

+ 2.0%

+ 3.1%

+ 11.1%

468 643 + 37.4% 1,220 1,553 + 27.3%

2,521802 877 + 9.4% 2,270

387 401 + 3.6% 956

New Listings

Pending Sales

Closed Sales

94.5% 96.0%

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent ofList Price Received

$210,628

Key market metrics for the current month and year-to-date figures for Single-Family Homes Only.

1,083 + 13.3%

150

4,305

177 169

154 + 4.1%

--

$206,835 $209,620 + 1.3%

$160,000 $165,000

$214,838

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

Condo Market Overview

Key Metrics Historical Sparklines 3-2012 3-2013 + / – YTD 2012 YTD 2013 + / –


--

Months Supplyof Homes for Sale

14.7 10.2 - 30.4% -- -- --

Inventory of Homes for Sale 4,353 3,517 - 19.2% -- --

+ 1.1%

Housing Affordability Index 222 242 - 6.7% 222 242 - 6.7%

Percent ofList Price Received

93.0% 94.0% + 1.1% 93.0% 94.0%

+ 4.0%

Average Sales Price $130,396 $129,649 - 0.6% $128,257 $133,603 + 4.2%

Median Sales Price $103,100 $97,750 - 5.2% $99,000 $103,000

+ 9.3%

Days on Market Until Sale 166 177 + 6.5% 176 179 + 1.8%

Closed Sales 355 340 - 4.2% 836 914

Key market metrics for the current month and year-to-date figures for Condo Properties Only.

- 3.1%

Pending Sales 396 427 + 7.8% 1,044 1,141 + 9.3%

New Listings 660 597 - 9.5% 1,974 1,912

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

3-2010 3-2011 3-2012 3-2013

New Listings

MonthSingle-Family

YoYChg.

CondoYoYChg.

April 740 0.0% 617 - 15.8%

May 807 + 17.5% 598 + 7.9%

June 755 + 2.7% 504 - 15.4%

July 688 + 6.2% 519 - 5.8%

August 755 + 6.3% 498 - 10.8%

September 688 + 14.3% 457 - 9.3%

October 731 + 15.7% 549 + 1.3%

November 664 + 9.8% 467 - 16.3%

December 505 + 10.5% 338 - 23.7%

January 863 + 13.0% 700 - 0.7%

February 781 + 10.9% 615 + 1.0%

March 877 + 9.4% 597 - 9.5%

Total 8,854 + 9.5% 6,562 - 8.2%

+


A count of the properties that have been newly listed on the market in a given month.

902

759 802

660

877

597

Single-Family Condo

March

0

250

500

750

1,000

1,250

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical New Listing Activity Single-Family Condo

-9.5% -13.0% +9.4% -11.1%

2013 2012 2011 2013 2012 2011

2,437

2,030

2,270

1,974

2,521

1,912

Single-Family Condo

Year to Date

-3.1% -2.8% +11.1% -6.9%

2013 2012 2011 2013 2012 2011

Pending Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

April 436 + 12.7% 427 + 13.6%

May 475 + 23.7% 357 + 13.0%

June 466 + 28.4% 342 + 23.0%

July 436 + 10.1% 343 + 26.6%

August 462 + 29.8% 349 + 5.8%

September 408 + 19.3% 347 + 32.4%

October 461 + 38.9% 338 + 31.0%

November 347 + 16.4% 263 + 11.9%

December 302 + 15.3% 227 + 18.2%

January 445 + 30.5% 363 + 17.1%

February 465 + 13.1% 351 + 3.8%

March 643 + 37.4% 427 + 7.8%

Total 5,346 + 23.2% 4,189 + 16.1%

+


A count of the properties on which contracts have been accepted in a given month.

426 397

468

396

643

427

Single-Family Condo

March

0

250

500

750

1,000

1,250

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Pending Sales Activity Single-Family Condo

+7.8% -0.3% +37.4% +9.9%

2013 2012 2011 2013 2012 2011

1,061 999

1,220

1,044

1,553

1,141

Single-Family Condo

Year to Date

+9.3% +4.5% +27.3% +15.0%

2013 2012 2011 2013 2012 2011

Closed Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

April 370 + 1.1% 355 - 4.8%

May 429 + 19.2% 405 + 14.7%

June 457 + 12.8% 393 + 10.7%

July 452 + 29.5% 312 + 9.9%

August 468 + 19.4% 356 + 23.2%

September 402 + 13.9% 292 - 2.0%

October 434 + 26.5% 362 + 36.6%

November 427 + 26.7% 333 + 39.3%

December 411 + 27.2% 277 + 6.9%

January 335 + 22.7% 254 + 21.0%

February 347 + 17.2% 320 + 18.1%

March 401 + 3.6% 340 - 4.2%

Total 4,933 + 17.9% 4,057 + 13.0%

+


A count of the actual sales that have closed in a given month.

362 379 387

355

401

340

Single-Family Condo

March

0

250

500

750

1,000

1,250

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Closed Sales Activity Single-Family Condo

-4.2% -6.3% +3.6% +6.9%

2013 2012 2011 2013 2012 2011

857 828

956

836

1,083

914

Single-Family Condo

Year to Date

+9.3% +1.0% +13.3% +11.6%

2013 2012 2011 2013 2012 2011


MonthSingle-Family

YoYChg.

CondoYoYChg.

April 175 - 3.8% 170 - 1.0%

May 182 + 13.0% 170 - 9.3%

June 176 - 4.4% 183 - 0.2%

July 162 - 11.3% 169 - 8.5%

August 172 - 1.0% 171 - 2.8%

September 149 - 16.1% 166 - 15.3%

October 157 - 21.3% 182 - 6.8%

November 157 - 14.2% 187 + 10.7%

December 172 - 2.7% 199 + 20.3%

January 163 - 10.9% 188 + 2.6%

February 170 - 8.2% 175 - 4.8%

March 169 - 4.8% 177 + 6.5%

Total 167 - 7.3% 178 - 1.1%

+


Average number of days between when a property is listed and when an offer is accepted in a given month.

184

171 177

166 169 177

Single-Family Condo

March

0

50

100

150

200

250

300

350

400

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Days on Market Until Sale Single-Family Condo

+6.5% -2.9% -4.8% -3.6%

2013 2012 2011 2013 2012 2011

180 176 181

176 167

179

Single-Family Condo

Year to Date

+1.8% +0.1% -7.7% +0.7%

2013 2012 2011 2013 2012 2011

Median Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

April 158,000 + 0.0% 115,500 + 15.5%

May 161,000 + 0.6% 105,000 - 4.5%

June 158,000 - 11.2% 110,000 - 6.4%

July 165,500 + 2.0% 95,000 - 13.6%

August 166,275 + 2.3% 102,897 + 3.0%

September 154,900 - 5.7% 102,000 - 6.2%

October 159,900 - 4.5% 103,000 - 1.9%

November 155,000 - 1.3% 104,500 + 13.6%

December 164,505 + 1.4% 110,000 + 2.3%

January 159,900 0.0% 97,000 + 3.7%

February 170,100 - 0.2% 110,000 + 15.8%

March 165,000 + 3.1% 97,750 - 5.2%

Median 160,318 - 2.1% 106,000 - 0.9%

+


Median price point for all closed sales, not accounting for seller concessions, in a given month.

$178,000

$109,950

$160,000

$103,100

$165,000

$97,750

Single-Family Condo

March

$75,000

$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000

$275,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Median Sales Price Single-Family Condo

-5.2% -6.2% +3.1% -10.1%

2013 2012 2011 2013 2012 2011

$167,000

$105,000

$162,810

$99,000

$165,000

$103,000

Single-Family Condo

Year to Date

+4.0% -5.7% +1.3% -2.5%

2013 2012 2011 2013 2012 2011

Average Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

April 193,856 - 7.3% 143,335 + 10.5%

May 200,760 + 2.2% 143,856 - 3.7%

June 215,229 - 4.5% 142,841 - 2.6%

July 205,259 + 0.9% 136,806 - 5.8%

August 208,073 + 6.4% 129,716 + 5.1%

September 188,817 - 9.1% 128,539 - 6.6%

October 197,277 - 10.3% 133,098 - 13.7%

November 194,581 - 5.4% 133,763 + 1.3%

December 205,273 - 7.2% 146,179 + 10.0%

January 202,825 - 0.2% 132,793 + 7.7%

February 210,094 + 2.4% 138,392 + 7.0%

March 214,838 + 2.0% 129,649 - 0.6%

Average 188,547 - 1.6% 136,814 + 0.3%

+


Average sales price for all closed sales, not accounting for seller concessions, in a given month.

$231,185

$143,768

$210,628

$130,396

$214,838

$129,649

Single-Family Condo

March

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Average Sales Price Single-Family Condo

- 0.6% - 9.3% + 2.0% - 8.9%

2013 2012 2011 2013 2012 2011

$214,071

$138,482

$206,835

$128,257

$209,620

$133,603

Single-Family Condo

Year to Date

+ 4.2% - 7.4% + 1.3% - 3.4%

2013 2012 2011 2013 2012 2011

Percent of List Price Received

MonthSingle-Family

YoYChg.

CondoYoYChg.

April 95.1% + 1.3% 94.7% + 1.0%

May 95.2% + 1.4% 93.7% - 0.1%

June 96.1% + 1.9% 93.9% + 0.6%

July 94.9% + 0.6% 94.3% + 2.6%

August 94.6% + 0.7% 93.9% - 1.1%

September 94.8% + 0.1% 94.0% + 0.9%

October 95.7% + 1.5% 93.9% + 2.1%

November 95.6% + 1.6% 93.6% - 0.1%

December 95.3% + 1.3% 94.2% + 1.1%

January 95.0% - 0.5% 93.8% + 1.3%

February 94.3% - 1.0% 94.1% + 0.9%

March 96.0% + 1.5% 94.0% + 1.1%

Average 91.3% + 2.8% 89.0% + 1.9%

+


Percentage found when dividing a property’s sales price by its last list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

95.3% 93.5% 94.5% 93.0% 96.0% 94.0%

Single-Family Condo

March

90%

92%

94%

96%

98%

100%

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Percent of List Price Received Single-Family Condo

+1.1% -0.5% +1.5% -0.8%

2013 2012 2011 2013 2012 2011

94.7% 93.8% 95.1% 93.0% 95.2% 94.0%

Single-Family Condo

Year to Date

+1.1% -0.8% +0.1% +0.4%

2013 2012 2011 2013 2012 2011

Housing Affordability Index

MonthSingle-Family

YoYChg.

CondoYoYChg.

April 154 + 21.7% 207 + 16.9%

May 154 + 12.1% 225 + 0.6%

June 157 + 11.2% 219 + 15.6%

July 153 + 22.5% 246 + 16.8%

August 152 + 11.1% 232 + 25.3%

September 163 + 7.6% 237 + 7.1%

October 158 + 15.2% 234 + 15.1%

November 163 + 14.5% 233 + 11.7%

December 157 + 11.0% 226 + 0.1%

January 161 + 9.5% 249 + 8.7%

February 150 + 9.2% 222 + 6.1%

March 154 + 4.1% 242 - 6.7%

Average 156 + 12.5% 231 + 9.8%

+

This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.


124

190

150

222

154

242

Single-Family Condo

March

75

100

125

150

175

200

225

250

275

1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Housing Affordability Index Single-Family Condo

-6.7% +17.2% +4.1% +10.4%

2013 2012 2011 2013 2012 2011

124

190

150

222

154

242

Single-Family Condo

Year to Date

-6.7% +17.2% +4.1% +10.4%

2013 2012 2011 2013 2012 2011


MonthSingle-Family

YoYChg.

CondoYoYChg.

April 4,306 - 11.7% 4,222 - 11.2%

May 4,290 - 10.9% 4,187 - 11.4%

June 4,279 - 11.1% 4,067 - 13.5%

July 4,202 - 10.9% 3,978 - 14.3%

August 4,208 - 10.0% 3,889 - 14.5%

September 4,189 - 8.2% 3,737 - 16.5%

October 4,081 - 10.0% 3,664 - 17.5%

November 4,090 - 9.4% 3,630 - 18.5%

December 3,925 - 7.6% 3,474 - 19.2%

January 4,011 - 7.0% 3,548 - 19.1%

February 4,078 - 5.5% 3,597 - 18.1%

March 3,969 - 7.8% 3,517 - 19.2%

Average 3,164 - 8.8% 3,594 - 19.0%

+


The number of properties available for sale in active status at the end of a given month.

4,917 4,717 4,305 4,353

3,969 3,517

Single-Family Condo

March

500

1,500

2,500

3,500

4,500

5,500

6,500

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Inventory of Homes for Sale Single-Family Condo

-19.2% -7.7% -7.8% -12.4%

2013 2012 2011 2013 2012 2011


MonthSingle-Family

YoYChg.

CondoYoYChg.

April 11.8 - 22.6% 14 - 11.4%

May 11.5 - 21.8% 13.8 - 11.9%

June 11.2 - 23.1% 13.1 - 16.4%

July 10.9 - 22.1% 12.6 - 18.8%

August 10.7 - 22.4% 12.3 - 19.3%

September 10.5 - 20.9% 11.5 - 23.5%

October 9.9 - 24.3% 11.1 - 27.1%

November 9.9 - 24.2% 10.9 - 28.7%

December 9.4 - 22.9% 10.3 - 29.6%

January 9.4 - 23.2% 10.4 - 29.6%

February 9.5 - 21.4% 10.5 - 28.9%

March 8.9 - 25.2% 10.2 - 30.4%

Average 8.1 - 26.6% 10.3 - 30.3%

+


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.

15.0 15.7

11.9

14.7

8.9 10.2

Single-Family Condo

March

0

5

10

15

20

25

30

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013

Historical Months Supply of Inventory Single-Family Condo

-30.4% -6.8% -25.2% -20.8%

2013 2012 2011 2013 2012 2011

March 2013 Quick Facts

$150,001 to $200,000 3 Bedrooms

234567

Housing Supply Overview

+ 16.8% + 19.0%With a full quarter worth of data, the keen market watcher is tracking just how 2013 is stacking up. For the 12-month period spanning April 2012 through March 2013, Closed Sales in the Coastal Carolinas region were up 15.5 percent overall. The price range with the largest gain in sales was the $150,001 to $200,000 range, where they increased 16.8 percent.

The overall Median Sales Price was up 0.7 percent to $139,000. The property type with the smallest price decline was the Condo segment, where prices decreased 1.3 percent to $105,000. The price range that tended to sell the quickest was the $150,000 and Below range at 159 days; the price range that tended to sell the slowest was the $300,001 and Above range at 213 days.

Market-wide, inventory levels were down 13.5 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 7.8 percent. That amounts to 8.9 months supply for Single-Family homes and 10.2 months supply for Condos.

+ 18.9%

Click on desired metric to jump to that page.

Price Range With the Strongest Sales:

Bedroom Count With Strongest Sales:

Property Type With Strongest Sales:

Single-Family Homes

A RESEARCH TOOL PROVIDED BY THE COASTAL CAROLINAS ASSOCIATION OF REALTORS®

Closed SalesDays on Market Until SaleMedian Sales PricePercent of List Price ReceivedInventory of Homes for SaleMonths Supply of Inventory

All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | 1

Closed Sales

By Price Range 3-2012 3-2013 Change 3-2012 3-2013 Change 3-2012 3-2013 Change

$150,000 and Below 4,112 4,796 + 16.6% 1,721 2,114 + 22.8% 2,391 2,682 + 12.2%

$150,001 to $200,000 1,346 1,572 + 16.8% 864 1,007 + 16.6% 482 565 + 17.2%

$200,001 to $250,000 800 898 + 12.3% 534 603 + 12.9% 266 295 + 10.9%

$250,001 to $300,000 545 626 + 14.9% 380 436 + 14.7% 165 190 + 15.2%

$300,001 and Above 932 1,040 + 11.6% 685 773 + 12.8% 247 267 + 8.1%

All Price Ranges 7,735 8,932 + 15.5% 3,661 4,356 + 19.0% 3,374 3,767 + 11.6%

By Bedroom Count 3-2012 3-2013 Change 3-2012 3-2013 Change 3-2012 3-2013 Change

2 Bedrooms or Less 2,286 2,605 + 14.0% 251 327 + 30.3% 2,035 2,278 + 11.9%

3 Bedrooms 3,809 4,527 + 18.9% 2,693 3,204 + 19.0% 1,116 1,323 + 18.5%

4 Bedrooms or More 1,368 1,535 + 12.2% 1,240 1,401 + 13.0% 128 134 + 4.7%

All Bedroom Counts 7,735 8,932 + 15.5% 3,661 4,356 + 19.0% 3,374 3,767 + 11.6%

A count of the actual sales that have closed. Based on a rolling 12-month total.


All Properties Single-Family Homes Condos

4,112

1,346

800 545

932

4,796

1,572

898 626

1,040

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above

By Price Range 3-2012 3-2013

2,286

3,809

1,368

2,605

4,527

1,535

2 Bedrooms or Less

3 Bedrooms 4 Bedrooms or More

By Bedroom Count 3-2012 3-2013

+ 16.6%

3,661 3,374

4,356

3,767

Single-Family Homes Condos

By Property Type 3-2012 3-2013

+ 16.8% + 12.3% + 14.9% + 11.6% + 19.0% + 11.6% + 14.0% + 18.9% + 12.2%



$150,000 and Below 169 159 - 5.9% 170 153 - 10.2% 168 164 - 2.4%

$150,001 to $200,000 187 174 - 7.1% 174 155 - 10.9% 210 207 - 1.3%

$200,001 to $250,000 182 184 + 1.0% 176 176 + 0.5% 195 199 + 2.2%

$250,001 to $300,000 198 187 - 5.5% 190 181 - 4.9% 222 206 - 7.1%

$300,001 and Above 214 213 - 0.2% 215 210 - 2.3% 208 222 + 6.6%

All Price Ranges 180 172 - 4.7% 180 167 - 7.3% 180 178 - 1.3%


2 Bedrooms or Less 176 171 - 2.9% 180 153 - 15.1% 175 173 - 1.1%

3 Bedrooms 177 168 - 5.0% 174 161 - 7.6% 184 186 + 1.0%

4 Bedrooms or More 197 186 - 5.5% 193 184 - 4.7% 229 204 - 11.1%

All Bedroom Counts 180 172 - 4.7% 180 167 - 7.3% 180 178 - 1.3%

Average number of days between when a property is listed and when an offer is accepted. Based on a rolling 12-month average.



169 187 182

198 214

159 174

184 187

213

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


176 177

197

171 168

186

2 Bedrooms or Less



- 5.9%

180 180

167

178



- 7.1% + 1.0% - 5.5% - 0.2% - 7.3% - 1.3% - 2.9% - 5.0% - 5.5%

Median Sales Price


2 Bedrooms or Less $90,000 $90,000 0.0% $95,000 $91,250 - 3.9% $90,000 $90,000 0.0%

3 Bedrooms $149,900 $150,000 + 0.1% $148,000 $148,000 0.0% $155,000 $155,000 0.0%

4 Bedrooms or More $255,000 $250,000 - 2.0% $250,000 $250,000 0.0% $287,250 $291,750 + 1.6%

All Bedroom Counts $138,000 $139,000 + 0.7% $163,675 $160,318 - 2.1% $106,350 $105,000 - 1.3%

Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median.



$90,000

$149,900

$255,000

$90,000

$150,000

$250,000

2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More


$138,000

$163,675

$106,350

$139,000

$160,318

$105,000



- 2.1% - 1.3% 0.0% + 0.1% + 0.7% - 2.0%

Percent of List Price Received


$150,000 and Below 93.3% 93.9% + 0.6% 93.5% 94.3% + 0.9% 93.2% 93.6% + 0.4%

$150,001 to $200,000 95.0% 96.1% + 1.2% 95.7% 96.7% + 1.0% 93.8% 95.0% + 1.3%

$200,001 to $250,000 94.6% 95.8% + 1.3% 95.5% 96.4% + 0.9% 92.8% 94.5% + 1.8%

$250,001 to $300,000 95.1% 96.1% + 1.1% 96.0% 96.5% + 0.5% 92.5% 94.7% + 2.4%

$300,001 and Above 93.6% 94.7% + 1.2% 93.5% 94.5% + 1.1% 93.9% 95.1% + 1.3%

All Price Ranges 93.9% 94.7% + 0.9% 94.4% 95.2% + 0.8% 93.3% 94.0% + 0.8%


2 Bedrooms or Less 92.9% 93.3% + 0.4% 91.2% 92.1% + 1.0% 93.1% 93.5% + 0.4%

3 Bedrooms 94.5% 95.4% + 1.0% 94.9% 95.7% + 0.8% 93.6% 94.8% + 1.3%

4 Bedrooms or More 93.8% 95.0% + 1.3% 93.8% 95.0% + 1.3% 93.4% 95.2% + 1.9%

All Bedroom Counts 93.9% 94.7% + 0.9% 94.4% 95.2% + 0.8% 93.3% 94.0% + 0.8%

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.



93.3%

95.0%

94.6%

95.1%

93.6% 93.9%

96.1% 95.8%

96.1%

94.7%

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


92.9%

94.5%

93.8%

93.3%

95.4%

95.0%

2 Bedrooms or Less



+ 0.6%

94.4%

93.3%

95.2%

94.0%



+ 1.2% + 1.3% + 1.1% + 1.2% + 0.8% + 0.8% + 0.4% + 1.0% + 1.3%



$150,000 and Below 3,730 3,063 - 17.9% 1,291 1,093 - 15.3% 2,439 1,970 - 19.2%

$150,001 to $200,000 1,387 1,205 - 13.1% 744 676 - 9.1% 643 529 - 17.7%

$200,001 to $250,000 894 839 - 6.2% 537 547 + 1.9% 357 292 - 18.2%

$250,001 to $300,000 646 566 - 12.4% 387 364 - 5.9% 259 202 - 22.0%

$300,001 and Above 2,001 1,813 - 9.4% 1,346 1,289 - 4.2% 655 524 - 20.0%

All Price Ranges 8,658 7,486 - 13.5% 4,305 3,969 - 7.8% 4,353 3,517 - 19.2%


2 Bedrooms or Less 2,767 2,282 - 17.5% 277 245 - 11.6% 2,490 2,037 - 18.2%

3 Bedrooms 3,792 3,267 - 13.8% 2,419 2,205 - 8.8% 1,373 1,062 - 22.7%

4 Bedrooms or More 1,840 1,705 - 7.3% 1,609 1,518 - 5.7% 231 187 - 19.0%

All Bedroom Counts 8,658 7,486 - 13.5% 4,305 3,969 - 7.8% 4,353 3,517 - 19.2%

The number of properties available for sale in active status at the end of the most recent month. Based on one month of activity.



3,730

1,387

894 646

2,001

3,063

1,205

839 566

1,813

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


2,767

3,792

1,840

2,282

3,267

1,705

2 Bedrooms or Less



- 17.9%

4,305 4,353 3,969

3,517



- 13.1% - 6.2% - 12.4% - 9.4% - 7.8% - 19.2% - 17.5% - 13.8% - 7.3%



$150,000 and Below 10.7 7.3 - 31.8% 8.6 5.9 - 31.6% 12.3 8.4 - 31.5%

$150,001 to $200,000 12.0 8.5 - 28.9% 10.0 7.3 - 27.0% 15.6 10.9 - 30.3%

$200,001 to $250,000 13.3 10.2 - 23.1% 11.7 9.5 - 18.4% 16.9 11.9 - 29.6%

$250,001 to $300,000 13.5 10.3 - 23.5% 11.9 9.2 - 23.0% 16.8 13.3 - 20.7%

$300,001 and Above 25.0 19.5 - 22.1% 22.7 18.3 - 19.7% 31.6 23.4 - 25.9%

All Price Ranges 13.1 9.5 - 27.9% 11.9 8.9 - 25.2% 14.7 10.2 - 30.4%


2 Bedrooms or Less 14.4 10.2 - 29.1% 12.0 9.0 - 25.6% 14.7 10.3 - 29.5%

3 Bedrooms 11.6 8.1 - 30.1% 10.4 7.6 - 26.9% 14.5 9.4 - 35.4%

4 Bedrooms or More 15.8 12.2 - 22.8% 15.2 11.9 - 21.9% 22.0 15.8 - 28.2%

All Bedroom Counts 13.1 9.5 - 27.9% 11.9 8.9 - 25.2% 14.7 10.2 - 30.4%

The inventory of homes for sale at the end of the most recent month, based on one month of activity, divided by the average monthly pending sales from the last 12 months.



10.7 12.0

13.3 13.5

25.0

7.3 8.5

10.2 10.3

19.5

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


14.4

11.6

15.8

10.2

8.1

12.2

2 Bedrooms or Less



- 31.8%

11.9

14.7

8.9

10.2



- 28.9% - 23.1% - 23.5% - 22.1% - 25.2% - 30.4% - 29.1% - 30.1% - 22.8%

march, 2013 market report

Documents

sfr median sales price

median sales pricecondo

median list price

closed sales sfr

closed sales condo

sfr sales volume

distressed sales prices

percentage of distressed