October, 2012 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

October 2012

Research powered by

SiteTech Systems

Sales activity trends in all sectors (Single Family Residential, Condo, & Residential Lot) continue to point to solid growth while sales prices remain stabilized. For October, Single Family Residential (SFR) sales are up 20.8% from prior year’s level while maintaining stable median sales prices. SFR inventory continued its gradual decline as inventory is down 2.6% as compared to October, 2011. SFR distressed inventory continued to fall as October’s inventory is at recent low. Year to date, SFR sales are up 15.1% while the median sales price is down 2.44%. Condo sales activity was very strong in October as sales was up 33% as compared to October, 2011. Coupled with strong sales activity, condo inventory continued to decline for its seventh straight month as inventory is down 11.8% as compared to October, 2011. The median sales price for condos remained steady at $104,000. Year to date, condo sales are up 8.7% while the median sales price is down 4.6%. Residential lot sales maintained its pace averaging about 90 lot sales per month, a 41% increase over 2011. The median sales price of residential lots remained steady at $33,250.

Grand Strand Active Inventory

Single Family Residential

# Listings

Horry Co. 3,773

Georgetown Co. 835

Total 4,608

Average List Price $337,549

Median List Price $219,900

Condo/Townhome

# Listings

Horry Co. 3,838

Georgetown Co. 384

Total 4,222



Horry Co.

G’town Co.

Less than $150k 1,096 89

$150k - $250k 1,336 181

$250k - $500k 985 289

$500k - $1.0 MM 265 167

$1 MM + 91 109

Horry Co.

G’town Co.

Less than $100k 1,331 48

$100k - $150k 945 78

$150k - $200k 599 69

$200k - $400k 703 98

$400k -$750k 203 61

$750+ 57 30

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,861

Georgetown Co. 766

Total 2,627



Horry Co.

G’town Co.

Less than $25k 344 62

$25k - $50k 646 88

$50k - $75k 260 85

$75k-100k 184 107

$100k-175k 199 145

$175k -250k 103 127

$250k+ 124 152

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

October 2011 4,733

October 2012 4,608

4,000

4,200

4,400

4,600

4,800

5,000

5,200

# o

f Li

stin

gs

Grand Strand SFR Inventory

October 2011 791

October 2012 721

600

650

700

750

800

850

900

950

# o

f D

istr

ess

ed

Lis

tin

gs

Grand Strand Distressed SFR Listings

Grand Strand Condo Inventory Trends


October 2011 4,787

October 2012 4,222

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400#

of

List

ings

Grand Strand Condo Inventory

October 2011 806

October 2012 614

600

650

700

750

800

850

900

950

1000

Oct

-10

No

v-1

0

De

c-1

0

Jan

-11

Feb

-11

Mar

-11

Ap

r-1

1

May

-11

Jun

-11

Jul-

11

Au

g-1

1

Sep

-11

Oct

-11

No

v-1

1

De

c-1

1

Jan

-12

Feb

-12

Mar

-12

Ap

r-1

2

May

-12

Jun

-12

Jul-

12

Au

g-1

2

Sep

-12

Oct

-12

# o

f D

istr

ess

ed

Grand Strand Distressed Condo Listings

Closed Sales - SFR

October Year to Date

March 2005500

January 2009149

October 2012366

100

150

200

250

300

350

400

450

500

550

Oct 05 Oct 06 Oct 07 Oct 08 Oct 09 Oct 10 Oct 11 'Oct 12

Historical Activity


265303

366

2010 2011 2012

2,970 3,1323,604

2010 2011 2012

Average Sales Price - SFR October Year to Date

March 2007$346,428

September 2012$197,947

October 2012$214,712

$195,000

$225,000

$255,000

$285,000

$315,000

$345,000

$375,000

Oct 05 Oct 06 Oct 07 Oct 08 Oct 09 Oct 10 Oct 11 Oct 12

Historical Activity


$231,150$235,926

$214,712

2010 2011 2012

$231,764$225,316

$215,454

2010 2011 2012

Median Sales Price - SFR October

$189,950

$175,000$166,153

2010 2011 2012

Year to Date

June 2006$242,310

October 2012$166,153

September 2012$159,900

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000


Historical Activity


$184,990

$173,500$169,263

2010 2011 2012

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

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

Cash

Conventional

Combined

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

Sold to List Price Ratio - SFR

October

89%

88%

91%

2010 2011 2012

Year to Date

Oct '05- Jan '0698%

April 201186%

October 201291%

83

85

87

89

91

93

95

97

99

Oct 05 Oct 06 Oct 07 Oct 08 Oct 09 Oct 10 Oct 11 'Oct 12

Historical Activity


90%

88%

91%

2010 2011 2012

Closed Sales - Condo October

273 263

350

2010 2011 2012

Year to Date

Historical Activity

12

May 2006845

January 2009117

October 2012350

50

250

450

650

850

1050


Research performed by SiteTech Systems

2,9423,028

3,291

2010 2011 2012

Average Sales Price - Condo October Year to Date

June 2007$348,053

December 2010$105,000

October 2012$133,611

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000


Historical Activity


$150,149 $152,949

$133,611

2010 2011 2012

$149,010

$140,039

$134,177

2010 2011 2012

Median Sales Price - Condo October

$117,500

$109,950

$103,550

2010 2011 2012

Year to Date

June 2007$249,921

November 2011$93,450

October 2012$103,500

$75,000

$125,000

$175,000

$225,000

$275,000


Historical Activity


$120,000

$109,000 $104,000

2010 2011 2012

Median Sales Price – Condo Distressed & Non-Distressed


$60,000

$70,000

$80,000

$90,000

$100,000

$110,000

$120,000

$130,000

$140,000

Non-Distressed

Distressed

Combined

Median Sales Price – Condo Cash & Conventional Transactions


$50,000

$70,000

$90,000

$110,000

$130,000

$150,000

$170,000

Cash

Conventional

Combined

Condo Sales % Cash vs. % Conventional


0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

% Cash

% Conventional

Sold to List Price Ratio - Condo

October

85%86%

89%

2010 2011 2012

Year to Date

Oct- Dec 200598%

April & May 200981%

October 201289%

75

80

85

90

95

100

105


Historical Activity


86% 86%

88%

2010 2011 2012

Closed Sales – Residential Lot

47

8289

2010 2011 2012

Year to Date

April 2006266

January 200911

October 201289

10

60

110

160

210

260

310


Historical Activity

19

October

Research performed by SiteTech Systems

491

619

872

2010 2011 2012

Average Sales Price – Residential Lot October Year to Date

July 2008$275,614

October 2011$35,780

October 2012$67,283

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000


Historical Activity


$122,290

$35,780

$67,283

2010 2011 2012

$83,124

$66,991 $65,648

2010 2011 2012

Median Sales Price – Residential Lot

October

$54,500

$15,899

$35,000

2010 2011 2012

Year to Date

November 2005$136,770

November 2011$15,000

October 2012$35,000

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000


Historical Activity


$45,000

$33,875 $33,250

2010 2011 2012

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

October

$62,200

$26,500

$47,500

2010 2011 2012

Year to Date

Historical Activity


$45,000

$33,875 $33,250

2010 2011 2012

March 2010 & January 2011 $85,000

October 2011 $23,250

October 2012 $47,500

$-

$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 October Year to Date

75%

70% 70%

2010 2011 2012

Oct & Nov 2005101%

November 201147%

October 201270%

40

50

60

70

80

90

100

110


Historical Activity


70%

56%

70%

2010 2011 2012

Grand Strand Distressed Inventory

Single Family Residential

# Listings

Horry Co. 640

Georgetown Co. 81

Total 721



Condo/Townhome

# Listings

Horry Co. 582

Georgetown Co. 32

Total 614



Horry Co.

G’town Co.


$150k - $250k 162 31

$250k - $500k 78 14

$500k - $1.0 MM 22 6

$1 MM + 3 2

Distribution by Price Range


Residential Lot # Listings

Horry Co. 281

Georgetown Co. 82

Total 363



Horry Co.

G’town Co.


$25k - $50k 101 18

$50k - $75k 32 9

$75k-100k 17 16

$100k-175k 14 15

$175k -250K 10 8

$250K + 7 4

Horry Co.

G’town Co.


$100k - $150k 104 5

$150k - $200k 64 5

$200k - $400k 60 3

$400k -$750k 9 7

$750+ - -

Distressed Sales Total

Oct Dec Feb Apr Jun Aug Oct

SFR


Condo



% Total Sales

32 33 30

37 32 33

28 28 29 29 29 29

23


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

October 2012 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

+ 17.8%Change in

Closed SalesSingle-Family Only

Click on desired metric to jump to that page.

It's been a giant year for the housing market – and for sports teams named Giants. As we round out the remaining two months of the year, let's recap. Most markets shed listings, resulting from strong sales and sluggish seller activity. There has been a general easing of foreclosures and short sales, meaning distressed listings are dragging prices down less than in recent years. So it's both about market fundamentals and market composition.

New Listings in the Coastal Carolinas region were up 12.9 percent for detached homes and 0.4 percent for condos. Pending Sales increased 72.7 percent for single-family homes and 41.5 percent for condos.

The Median Sales Price was down 4.8 percent to $159,500 for single-family properties and 1.9 percent to $103,000 for condo units. Months Supply of Inventory decreased 28.9 percent for single-family units and 30.3 percent for townhouse-condo units.

The economy is growing but at a glacial pace, and economic growth in 2013 is expected to outpace 2012. Mortgage rates are expected to remain near historic lows through 2015, rents are expected to rise due to low vacancy, and financial situations in Europe, China and elsewhere, believe it or not, have an effect on your local housing market.

+ 32.1%Change in

Closed SalesCondo Only

+ 24.0%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 10-2011 10-2012 + / – YTD 2011 YTD 2012 + / –

+

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

13.1

159 + 16.6%

- 14.1%

- 28.9%

3,896

9.4

140

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

$165,000 $160,000

+ 0.9%

- 21.4% 180 171 - 4.9%

- 3.0%

+ 1.3% 94.3% 95.1%

- 10.0%

- 4.8%

+ 2.9%

330 570 + 72.7% 3,618 4,443 + 22.8%

7,403634 716 + 12.9% 7,197

343 404 + 17.8% 3,424

New Listings

Pending Sales

Closed Sales

94.2% 95.5%

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent ofList Price Received

$219,828

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

3,916 + 14.4%

140

4,533

199 157

159 + 16.6%

--

$209,717 $203,237 - 3.1%

$167,475 $159,500

$197,919

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

Condo Market Overview

Key Metrics Historical Sparklines 10-2011 10-2012 + / – YTD 2011 YTD 2012 + / –

+


--

Months Supplyof Homes for Sale

15.2 10.6 - 30.3% -- -- --

Inventory of Homes for Sale 4,444 3,556 - 20.0% -- --

+ 0.4%

Housing Affordability Index 211 234 + 16.2% 211 234 + 16.2%

Percent ofList Price Received

92.0% 94.0% + 2.2% 93.4% 93.8%

- 3.7%

Average Sales Price $154,308 $134,103 - 13.1% $140,162 $135,071 - 3.6%

Median Sales Price $105,000 $103,000 - 1.9% $107,000 $103,000

+ 8.1%

Days on Market Until Sale 195 182 - 6.5% 182 174 - 4.3%

Closed Sales 265 350 + 32.1% 3,043 3,291

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

- 6.1%

Pending Sales 260 368 + 41.5% 3,092 3,608 + 16.7%

New Listings 544 546 + 0.4% 6,079 5,709

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

10-2009 10-2010 10-2011 10-2012

New Listings

MonthSingle-Family

YoYChg.

CondoYoYChg.

November 605 - 1.6% 559 + 6.7%

December 456 - 7.9% 444 + 3.5%

January 761 - 0.7% 697 + 7.2%

February 702 - 8.8% 608 - 2.3%

March 804 - 10.9% 659 - 13.3%

April 740 0.0% 617 - 15.7%

May 806 + 17.3% 601 + 8.5%

June 751 + 2.2% 503 - 15.9%

July 692 + 6.8% 521 - 5.8%

August 754 + 5.9% 502 - 10.5%

September 677 + 12.3% 455 - 9.9%

October 716 + 12.9% 546 + 0.4%

Total 8,464 + 1.9% 6,833 - 4.7%

+


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

671

557

634

544

716

546

Single-Family Condo

October

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

Historical New Listing Activity Single-Family Condo

+0.4% -2.3% +12.9% -5.5%

2012 2011 2010 2012 2011 2010

8,167

6,910 7,197

6,079

7,403

5,709

Single-Family Condo

Year to Date

-6.1% -12.0% +2.9% -11.9%

2012 2011 2010 2012 2011 2010

Pending Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

November 297 + 6.1% 235 - 3.7%

December 258 + 7.9% 191 + 7.9%

January 335 + 13.9% 304 + 12.2%

February 408 + 19.3% 337 + 1.5%

March 471 + 10.6% 394 - 0.8%

April 433 + 12.2% 428 + 14.4%

May 470 + 22.1% 358 + 13.3%

June 460 + 26.0% 351 + 25.8%

July 446 + 13.5% 341 + 26.3%

August 445 + 25.0% 377 + 14.2%

September 405 + 18.8% 350 + 33.1%

October 570 + 72.7% 368 + 41.5%

Total 4,998 + 20.8% 4,094 + 15.2%

+


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

325 311 330

260

570

368

Single-Family Condo

October

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

Historical Pending Sales Activity Single-Family Condo

+41.5% -16.4% +72.7% +1.5%

2012 2011 2010 2012 2011 2010

3,362 3,067

3,618

3,092

4,443

3,608

Single-Family Condo

Year to Date

+16.7% +0.8% +22.8% +7.6%

2012 2011 2010 2012 2011 2010

Closed Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

November 337 + 32.2% 239 - 4.4%

December 323 - 1.8% 259 - 11.3%

January 273 + 12.3% 210 0.0%

February 296 + 17.5% 270 + 13.0%

March 386 + 6.6% 354 - 6.6%

April 368 + 0.5% 355 - 4.6%

May 428 + 18.9% 405 + 14.7%

June 453 + 11.9% 393 + 10.7%

July 449 + 28.7% 310 + 9.2%

August 468 + 19.7% 354 + 22.9%

September 391 + 10.8% 290 - 2.7%

October 404 + 17.8% 350 + 32.1%

Total 4,576 + 14.2% 3,841 + 5.9%

+


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

288 273

343

265

404

350

Single-Family Condo

October

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

Historical Closed Sales Activity Single-Family Condo

+32.1% -2.9% +17.8% +19.1%

2012 2011 2010 2012 2011 2010

3,240

2,946

3,424

3,043

3,916

3,291

Single-Family Condo

Year to Date

+8.1% +3.3% +14.4% +5.7%

2012 2011 2010 2012 2011 2010


MonthSingle-Family

YoYChg.

CondoYoYChg.

November 182 + 6.9% 169 - 7.7%

December 176 + 0.3% 165 - 10.7%

January 183 - 6.7% 183 - 1.9%

February 185 + 16.4% 184 + 5.0%

March 177 - 3.6% 166 - 2.7%

April 176 - 3.5% 170 - 1.1%

May 182 + 13.0% 170 - 9.3%

June 175 - 4.6% 183 - 0.2%

July 162 - 11.2% 170 - 8.1%

August 172 - 1.4% 172 - 2.7%

September 150 - 15.7% 166 - 15.1%

October 157 - 21.4% 182 - 6.5%

Total 172 - 3.8% 173 - 5.0%

+


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

182 180

199 195

157

182

Single-Family Condo

October

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

Historical Days on Market Until Sale Single-Family Condo

-6.5% +8.2% -21.4% +9.5%

2012 2011 2010 2012 2011 2010

171 171 180 182

171 174

Single-Family Condo

Year to Date

-4.3% +6.3% -4.9% +5.5%

2012 2011 2010 2012 2011 2010

Median Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

November 157,090 - 13.1% 92,000 - 20.0%

December 162,248 - 1.7% 107,500 - 2.3%

January 159,900 + 2.5% 93,500 - 13.0%

February 170,450 + 3.3% 95,000 - 5.0%

March 160,899 - 9.6% 103,550 - 5.8%

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

May 161,500 + 0.9% 105,000 - 4.5%

June 157,907 - 11.3% 110,000 - 6.4%

July 166,463 + 2.6% 95,000 - 13.6%

August 166,550 + 2.3% 101,000 + 1.1%

September 154,450 - 6.0% 102,000 - 6.2%

October 159,500 - 4.8% 103,000 - 1.9%

Median 160,000 - 3.4% 105,000 - 4.5%

+


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

$183,900

$117,000

$167,475

$105,000

$159,500

$103,000

Single-Family Condo

October

$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

Historical Median Sales Price Single-Family Condo

-1.9% -10.3% -4.8% -8.9%

2012 2011 2010 2012 2011 2010

$175,000

$119,000

$165,000

$107,000

$160,000

$103,000

Single-Family Condo

Year to Date

-3.7% -10.1% -3.0% -5.7%

2012 2011 2010 2012 2011 2010

Average Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

November 205,641 - 11.6% 132,004 - 17.3%

December 221,155 + 12.9% 132,909 - 4.8%

January 203,310 + 5.2% 123,343 - 14.1%

February 205,050 - 1.9% 129,473 + 3.1%

March 210,954 - 8.8% 130,487 - 9.2%

April 193,804 - 7.3% 143,335 + 10.3%

May 200,975 + 2.3% 143,856 - 3.7%

June 214,988 - 4.6% 142,844 - 2.6%

July 206,005 + 1.2% 135,561 - 6.7%

August 208,210 + 6.4% 129,686 + 4.9%

September 188,486 - 9.2% 128,631 - 6.5%

October 197,919 - 10.0% 134,103 - 13.1%

Average 186,396 - 4.5% 134,672 - 4.7%

+


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

$220,130

$151,474

$219,828

$154,308

$197,919

$134,103

Single-Family Condo

October

$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

Historical Average Sales Price Single-Family Condo

- 13.1% + 1.9% - 10.0% - 0.1%

2012 2011 2010 2012 2011 2010

$217,788

$148,912

$209,717

$140,162

$203,237

$135,071

Single-Family Condo

Year to Date

- 3.6% - 5.9% - 3.1% - 3.7%

2012 2011 2010 2012 2011 2010

Percent of List Price Received

MonthSingle-Family

YoYChg.

CondoYoYChg.

November 94.2% + 0.4% 93.7% + 1.1%

December 94.1% - 0.2% 93.2% - 0.5%

January 95.5% + 1.6% 92.6% - 1.8%

February 95.3% + 0.8% 93.3% - 0.4%

March 94.5% - 0.8% 92.9% - 0.6%

April 95.0% + 1.2% 94.7% + 0.9%

May 95.3% + 1.5% 93.7% - 0.1%

June 96.1% + 1.9% 93.9% + 0.6%

July 94.8% + 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 95.5% + 1.3% 94.0% + 2.2%

Average 90.4% + 2.4% 88.4% + 1.7%

+


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.

95.0% 93.4% 94.2% 92.0% 95.5% 94.0%

Single-Family Condo

October

90%

92%

94%

96%

98%

100%

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

Historical Percent of List Price Received Single-Family Condo

+2.2% -1.5% +1.3% -0.8%

2012 2011 2010 2012 2011 2010

94.6% 93.8% 94.3% 93.4% 95.1% 93.8%

Single-Family Condo

Year to Date

+0.4% -0.4% +0.9% -0.4%

2012 2011 2010 2012 2011 2010

Housing Affordability Index

MonthSingle-Family

YoYChg.

CondoYoYChg.

November 147 + 9.5% 233 + 10.0%

December 144 + 12.5% 208 + 18.2%

January 148 + 3.2% 235 + 3.5%

February 144 + 6.2% 237 + 19.8%

March 150 + 8.9% 223 + 15.6%

April 152 + 20.4% 204 + 15.8%

May 150 + 10.3% 220 - 1.0%

June 155 + 8.4% 216 + 13.0%

July 151 + 20.1% 244 + 14.5%

August 151 + 8.3% 234 + 22.8%

September 164 + 7.7% 237 + 8.6%

October 159 + 16.6% 234 + 16.2%

Average 151 + 11.0% 227 + 13.1%

+

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.


127

192

140

211

159

234

Single-Family Condo

October

75

100

125

150

175

200

225

250

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

Historical Housing Affordability Index Single-Family Condo

+16.2% +3.4% +16.6% +2.0%

2012 2011 2010 2012 2011 2010

127

192

140

211

159

234

Single-Family Condo

Year to Date

+16.2% +3.4% +16.6% +2.0%

2012 2011 2010 2012 2011 2010


MonthSingle-Family

YoYChg.

CondoYoYChg.

November 4,508 - 9.8% 4,462 - 9.1%

December 4,240 - 10.5% 4,307 - 8.5%

January 4,303 - 9.5% 4,383 - 6.2%

February 4,302 - 10.9% 4,393 - 6.3%

March 4,287 - 12.8% 4,351 - 7.8%

April 4,287 - 12.0% 4,216 - 11.3%

May 4,264 - 11.4% 4,183 - 11.4%

June 4,255 - 11.5% 4,049 - 13.9%

July 4,171 - 11.5% 3,959 - 14.7%

August 4,177 - 10.6% 3,843 - 15.6%

September 4,134 - 9.3% 3,675 - 17.9%

October 3,896 - 14.1% 3,556 - 20.0%

Average 3,098 - 15.9% 3,629 - 19.7%

+


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

5,056 4,981 4,533 4,444

3,896 3,556

Single-Family Condo

October

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

Historical Inventory of Homes for Sale Single-Family Condo

-20.0% -10.8% -14.1% -10.3%

2012 2011 2010 2012 2011 2010


MonthSingle-Family

YoYChg.

CondoYoYChg.

November 13.0 - 15.6% 15 - 9.3%

December 12.2 - 16.7% 14.7 - 9.3%

January 12.3 - 16.7% 14.8 - 8.4%

February 12.1 - 18.9% 14.8 - 6.6%

March 11.9 - 20.8% 14.7 - 6.5%

April 11.8 - 22.7% 14.0 - 11.4%

May 11.5 - 21.9% 13.8 - 11.9%

June 11.2 - 22.9% 13.1 - 16.9%

July 10.9 - 22.3% 12.5 - 19.3%

August 10.7 - 22.4% 12.0 - 21.0%

September 10.4 - 21.3% 11.2 - 25.5%

October 9.4 - 28.9% 10.6 - 30.3%

Average 8.5 - 29.7% 10.6 - 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.

15.7 17.3

13.1

15.2

9.4 10.6

Single-Family Condo

October

0

5

10

15

20

25

30

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

Historical Months Supply of Inventory Single-Family Condo

-30.3% -12.2% -28.9% -16.2%

2012 2011 2010 2012 2011 2010

October 2012 Quick Facts

$150,000 and Below 3 Bedrooms

234567

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

Housing Supply Overview

+ 15.0% + 13.6%With the race to 2013 underway, it's hard to resist the temptation to see just how 2012 is stacking up. For the 12-month period spanning November 2011 through October 2012, Closed Sales in the Coastal Carolinas region were up 10.2 percent overall. The price range with the largest gain in sales was the $150,000 and Below range, where they increased 15.0 percent.

The overall Median Sales Price was down 1.8 percent to $137,500. The property type with the smallest price decline was the Single-Family segment, where prices decreased 3.4 percent to $160,000. The price range that tended to sell the quickest was the $150,000 and Below range at 162 days; the price range that tended to sell the slowest was the $300,001 and Above range at 206 days.

Market-wide, inventory levels were down 17.0 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 14.1 percent. That amounts to 9.4 months supply for Single-Family homes and 10.6 months supply for Condos.

+ 11.3%

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

Closed Sales

By Price Range 10-2011 10-2012 Change 10-2011 10-2012 Change 10-2011 10-2012 Change

$150,000 and Below 3,944 4,535 + 15.0% 1,585 1,963 + 23.8% 2,359 2,572 + 9.0%

$150,001 to $200,000 1,345 1,451 + 7.9% 842 946 + 12.4% 503 505 + 0.4%

$200,001 to $250,000 801 831 + 3.7% 529 545 + 3.0% 272 286 + 5.1%

$250,001 to $300,000 547 591 + 8.0% 377 410 + 8.8% 170 181 + 6.5%

$300,001 and Above 956 957 + 0.1% 675 712 + 5.5% 281 245 - 12.8%

All Price Ranges 7,593 8,365 + 10.2% 3,528 4,007 + 13.6% 3,414 3,571 + 4.6%

By Bedroom Count 10-2011 10-2012 Change 10-2011 10-2012 Change 10-2011 10-2012 Change

2 Bedrooms or Less 2,251 2,469 + 9.7% 236 314 + 33.1% 2,015 2,155 + 6.9%

3 Bedrooms 3,758 4,182 + 11.3% 2,577 2,939 + 14.0% 1,181 1,243 + 5.2%

4 Bedrooms or More 1,320 1,447 + 9.6% 1,195 1,322 + 10.6% 125 125 0.0%

All Bedroom Counts 7,593 8,365 + 10.2% 3,528 4,007 + 13.6% 3,414 3,571 + 4.6%

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


All Properties Single-Family Homes Condos

3,944

1,345

801547

956

4,535

1,451

831591

957

$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 Range10-2011 10-2012

2,251

3,758

1,320

2,469

4,182

1,447

2 Bedrooms or Less

3 Bedrooms 4 Bedrooms or More

By Bedroom Count10-2011 10-2012

+ 15.0%

3,528

3,414

4,007

3,571

Single-Family Homes Condos

By Property Type10-2011 10-2012

+ 7.9% + 3.7% + 8.0% + 0.1% + 13.6% + 4.6%+ 9.7% + 11.3% + 9.6%



$150,000 and Below 170 162 - 4.7% 166 163 - 2.1% 173 162 - 6.4%

$150,001 to $200,000 187 174 - 7.1% 179 161 - 10.1% 202 199 - 1.2%

$200,001 to $250,000 174 184 + 5.5% 167 180 + 7.8% 188 191 + 1.7%

$250,001 to $300,000 195 194 - 0.6% 182 189 + 3.7% 226 208 - 7.9%

$300,001 and Above 219 206 - 5.9% 223 204 - 8.8% 210 216 + 2.9%

All Price Ranges 181 173 - 4.4% 179 172 - 3.8% 182 173 - 5.0%


2 Bedrooms or Less 178 170 - 4.8% 174 171 - 1.3% 179 169 - 5.2%

3 Bedrooms 176 171 - 2.6% 171 167 - 2.3% 186 181 - 2.8%

4 Bedrooms or More 200 186 - 6.8% 197 184 - 6.7% 225 211 - 6.3%

All Bedroom Counts 181 173 - 4.4% 179 172 - 3.8% 182 173 - 5.0%

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



170187

174

195

219

162174

184194

206

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


178176

200

170 171

186

2 Bedrooms or Less



- 4.7%

179

182

172173



- 7.1% + 5.5% - 0.6% - 5.9% - 3.8% - 5.0%- 4.8% - 2.6% - 6.8%

Median Sales Price


2 Bedrooms or Less $95,000 $89,500 - 5.8% $96,000 $95,000 - 1.0% $95,000 $88,000 - 7.4%

3 Bedrooms $150,000 $149,668 - 0.2% $150,000 $148,000 - 1.3% $155,000 $153,250 - 1.1%

4 Bedrooms or More $255,000 $250,000 - 2.0% $250,000 $245,901 - 1.6% $285,000 $299,875 + 5.2%

All Bedroom Counts $140,000 $137,500 - 1.8% $165,640 $160,000 - 3.4% $110,000 $105,000 - 4.5%

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



$95,000

$150,000

$255,000

$89,500

$149,668

$250,000

2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More


$140,000

$165,640

$110,000

$137,500

$160,000

$105,000



- 3.4% - 4.5%- 5.8% - 0.2% - 1.8%- 2.0%

Percent of List Price Received


$150,000 and Below 93.3% 93.8% + 0.5% 93.4% 94.2% + 0.9% 93.2% 93.6% + 0.4%

$150,001 to $200,000 95.2% 95.6% + 0.4% 95.7% 96.3% + 0.6% 94.2% 94.2% 0.0%

$200,001 to $250,000 94.8% 95.3% + 0.5% 95.4% 96.1% + 0.7% 93.5% 93.7% + 0.2%

$250,001 to $300,000 94.8% 95.8% + 1.1% 95.9% 96.2% + 0.3% 92.4% 94.6% + 2.4%

$300,001 and Above 93.3% 94.1% + 0.9% 92.9% 94.1% + 1.3% 94.4% 94.2% - 0.2%

All Price Ranges 93.9% 94.4% + 0.5% 94.3% 95.0% + 0.7% 93.4% 93.7% + 0.3%


2 Bedrooms or Less 93.1% 93.2% + 0.1% 91.5% 92.1% + 0.7% 93.3% 93.4% + 0.1%

3 Bedrooms 94.6% 95.0% + 0.4% 94.9% 95.4% + 0.5% 93.9% 94.2% + 0.3%

4 Bedrooms or More 93.4% 94.8% + 1.5% 93.5% 94.8% + 1.4% 93.3% 94.4% + 1.2%

All Bedroom Counts 93.9% 94.4% + 0.5% 94.3% 95.0% + 0.7% 93.4% 93.7% + 0.3%

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%

95.2%

94.8% 94.8%

93.3%

93.8%

95.6%95.3%

95.8%

94.1%

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


93.1%

94.6%

93.4%93.2%

95.0%94.8%

2 Bedrooms or Less



+ 0.5%

94.3%

93.4%

95.0%

93.7%



+ 0.4% + 0.5% + 1.1% + 0.9% + 0.7% + 0.3%+ 0.1% + 0.4% + 1.5%



$150,000 and Below 3,813 3,069 - 19.5% 1,384 1,080 - 22.0% 2,429 1,989 - 18.1%

$150,001 to $200,000 1,452 1,205 - 17.0% 802 675 - 15.8% 650 530 - 18.5%

$200,001 to $250,000 947 780 - 17.6% 573 514 - 10.3% 374 266 - 28.9%

$250,001 to $300,000 709 578 - 18.5% 427 364 - 14.8% 282 214 - 24.1%

$300,001 and Above 2,056 1,820 - 11.5% 1,347 1,263 - 6.2% 709 557 - 21.4%

All Price Ranges 8,977 7,452 - 17.0% 4,533 3,896 - 14.1% 4,444 3,556 - 20.0%


2 Bedrooms or Less 2,824 2,304 - 18.4% 310 224 - 27.7% 2,514 2,080 - 17.3%

3 Bedrooms 4,043 3,226 - 20.2% 2,596 2,167 - 16.5% 1,447 1,059 - 26.8%

4 Bedrooms or More 1,861 1,696 - 8.9% 1,626 1,504 - 7.5% 235 192 - 18.3%

All Bedroom Counts 8,977 7,452 - 17.0% 4,533 3,896 - 14.1% 4,444 3,556 - 20.0%

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



3,813

1,452

947709

2,056

3,069

1,205

780578

1,820

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


2,824

4,043

1,861

2,304

3,226

1,696

2 Bedrooms or Less



- 19.5%

4,533 4,444

3,8963,556



- 17.0% - 17.6% - 18.5% - 11.5% - 14.1% - 20.0%- 18.4% - 20.2% - 8.9%



$150,000 and Below 11.4 7.5 - 34.0% 10.0 6.0 - 39.8% 12.4 8.7 - 29.7%

$150,001 to $200,000 13.0 9.1 - 30.1% 11.3 7.9 - 29.9% 16.0 11.3 - 29.7%

$200,001 to $250,000 14.1 10.4 - 26.7% 12.8 10.1 - 21.0% 16.8 10.9 - 35.4%

$250,001 to $300,000 15.4 11.3 - 26.8% 13.2 10.3 - 22.0% 20.6 13.4 - 34.8%

$300,001 and Above 26.2 21.2 - 19.1% 23.5 19.6 - 16.5% 33.6 26.0 - 22.7%

All Price Ranges 14.1 9.9 - 29.7% 13.1 9.4 - 28.9% 15.2 10.6 - 30.3%


2 Bedrooms or Less 15.3 10.6 - 30.6% 15.4 8.1 - 47.5% 15.3 11.0 - 28.1%

3 Bedrooms 12.8 8.4 - 34.4% 11.8 8.0 - 32.5% 15.0 9.4 - 37.7%

4 Bedrooms or More 16.3 13.3 - 18.5% 15.5 12.9 - 17.1% 24.3 17.2 - 29.3%

All Bedroom Counts 14.1 9.9 - 29.7% 13.1 9.4 - 28.9% 15.2 10.6 - 30.3%

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.



11.413.0

14.115.4

26.2

7.59.1

10.4 11.3

21.2

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


15.3

12.8

16.3

10.6

8.4

13.3

2 Bedrooms or Less



- 34.0%

13.1

15.2

9.410.6



- 30.1% - 26.7% - 26.8% - 19.1% - 28.9% - 30.3%- 30.6% - 34.4% - 18.5%

October, 2012 Market Report

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Transcript of October, 2012 Market Report