Hilton head mmi(4)

Monthly Indicators

May 2014 Quick Facts

A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS®

- 9.7%

Change inMedian Sales Price

Some have noted a slight pause in the housing recovery this year. The American Dream of homeownership is alive and well, but it must still contend with market fluctuations. Buyers need homes for sale if they're expected to buy said homes. They also need reliable financing, better jobs and stronger wage growth. The opportunities are out there. Now we need people to take advantage of them.

- 4.0%

Change inInventory

- 11.1%

Change inClosed Sales

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New Listings in the Hilton Head region decreased 10.9 percent to 401. Pending Sales were down 4.9 percent to 331. Inventory levels shrank 4.0 percent to 2,687 units.

Prices weakened somewhat. The Median Sales Price decreased 9.7 percent to $249,000. Days on Market was down 11.2 percent to 108 days. Absorption rates improved as Months Supply of Inventory was down 9.0 percent to 8.6 months.

We've had a mixed bag of economic news lately. As expected, national GDP contracted slightly during Q1-2014, which most economists attribute to impermanent factors like the harsh winter. We've now had more than four straight years of monthly private sector job growth. It hasn't been extraordinary growth, but it sure beats mass layoffs. Buoyed by an improving sales mix, home prices continue their ascent despite erratic demand indicators. More inventory, more high-skilled job growth, and less economic and political uncertainty are still top priorities.

Months Supply of InventoryInventory of Homes for SaleHousing Affordability IndexPercent of List Price ReceivedAverage Sales PriceMedian Sales Price

Data is Copyright © 2014 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Powered by 10K Research and Marketing. | 1

Closed SalesPending SalesNew ListingsMarket Overview

Days On Market Until Sale

Market Overview

Key Metrics Historical Sparklines 5-2013 5-2014 + / – YTD 2013 YTD 2014 + / –

1,302 - 7.4%

122 108

450 401 - 10.9% 2,559

351 312 - 11.1% 1,406

New Listings

Pending Sales

Closed Sales

Days on Market Until Sale

+ 0.4%

348 331 - 4.9% 1,638 1,625 - 0.8%

2,570

- 11.2% 123 110 - 10.6%

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

5-2011 5-2012 5-2013 5-2014

5-2011 5-2012 5-2013 5-2014

5-2011 5-2012 5-2013 5-2014

5-2011 5-2012 5-2013 5-2014

Housing Affordability Index

Inventory of Homes for Sale

120

2,798

125 - 5.5%

--

$334,561 $331,572 - 0.9%

$275,625 $249,000

$373,557 $326,511 - 12.6%

95.8% 94.8%

Months Supplyof Homes for Sale

Median Sales Price

Average Sales Price

Percent of List Price Received

$250,000 $250,000

- 0.3%

0.0%

- 1.1% 95.5% 95.3%

Data is Copyright © 2014 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2

133

--

-- --

--

--9.4

126 + 4.6%

- 4.0%

- 9.0%

2,687

8.6

- 9.7%

5-2011 5-2012 5-2013 5-2014

5-2011 5-2012 5-2013 5-2014

5-2011 5-2012 5-2013 5-2014

5-2011 5-2012 5-2013 5-2014

5-2011 5-2012 5-2013 5-2014

5-2011 5-2012 5-2013 5-2014

New Listings

MonthPrior Year

Current Year

+ / –

June 417 428 +2.6%

July 401 448 +11.7%

August 456 447 -2.0%

September 445 433 -2.7%

October 429 507 +18.2%

November 367 373 +1.6%

December 283 275 -2.8%

January 507 482 -4.9%

February 518 476 -8.1%

March 562 611 +8.7%

April 522 600 +14.9%

May 450 401 -10.9%

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

448 450

401

May

2,524 2,559 2,570

Year To Date

+0.4%+0.4% -10.9% +1.4%

12-Month Avg 446 457 +2.3%


2012 2013 2014

0

100

200

300

400

500

600

700

800

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical New Listing Activity

2012 2013 2014

Pending Sales

MonthPrior Year

Current Year

+ / –

June 303 354 +16.8%

July 273 373 +36.6%

August 307 308 +0.3%

September 243 304 +25.1%

October 308 322 +4.5%

November 274 266 -2.9%

December 212 201 -5.2%

January 296 257 -13.2%

February 325 302 -7.1%

March 324 368 +13.6%

April 345 367 +6.4%

May 348 331 -4.9%

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

315

348331

May

1,494

1,638 1,625

Year To Date

-0.8%+10.5% -4.9% +9.6%

12-Month Avg 297 313 +5.5%


2012 2013 2014

0

50

100

150

200

250

300

350

400

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Pending Sales Activity

2012 2013 2014

Closed Sales

MonthPrior Year

Current Year

+ / –

June 346 341 -1.4%

July 279 334 +19.7%

August 304 374 +23.0%

September 252 295 +17.1%

October 283 316 +11.7%

November 307 271 -11.7%

December 247 283 +14.6%

January 217 232 +6.9%

February 229 188 -17.9%

March 306 262 -14.4%

April 303 308 +1.7%

May 351 312 -11.1%

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

332351

312

May

1,2871,406

1,302

Year To Date

-7.4%+5.7% -11.1% +9.2%

12-Month Avg 285 293 +3.2%


2012 2013 2014

0

50

100

150

200

250

300

350

400

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Closed Sales Activity

2012 2013 2014

Days on Market Until Sale

MonthPrior Year

Current Year

+ / –

June 125 118 -5.1%

July 124 125 +0.6%

August 110 111 +1.1%

September 121 105 -13.2%

October 130 117 -9.7%

November 122 124 +1.7%

December 115 95 -17.4%

January 127 107 -15.5%

February 124 112 -9.7%

March 121 118 -2.6%

April 121 105 -13.8%

May 122 108 -11.2%

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

129122

108

May

136

123

110

Year To Date

-10.6%-5.4% -11.2% -9.9%

12-Month Avg 122 112 -7.7%


2012 2013 2014

60

80

100

120

140

160

180

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Days on Market Until Sale

2012 2013 2014

Median Sales Price

MonthPrior Year

Current Year

+ / –

June $230,000 $252,500 +9.8%

July $220,000 $299,000 +35.9%

August $212,500 $260,964 +22.8%

September $230,000 $245,000 +6.5%

October $235,000 $249,833 +6.3%

November $233,000 $250,000 +7.3%

December $238,070 $250,000 +5.0%

January $245,745 $220,600 -10.2%

February $228,000 $250,483 +9.9%

March $225,000 $259,000 +15.1%

April $263,000 $279,500 +6.3%

May $275,625 $249,000 -9.7%

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

$233,000

$275,625

$249,000

May

$225,000$250,000 $250,000

Year To Date

0.0%+18.3% -9.7% +11.1%

12-Month Med $235,000 $256,000 +8.9%


2012 2013 2014

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Median Sales Price

2012 2013 2014

Average Sales Price

MonthPrior Year

Current Year

+ / –

June $310,184 $337,647 +8.9%

July $286,352 $363,957 +27.1%

August $266,470 $348,269 +30.7%

September $358,255 $338,314 -5.6%

October $347,171 $329,877 -5.0%

November $296,461 $341,307 +15.1%

December $324,491 $341,476 +5.2%

January $322,692 $290,536 -10.0%

February $294,120 $335,751 +14.2%

March $304,274 $352,004 +15.7%

April $359,394 $348,056 -3.2%

May $373,557 $326,511 -12.6%

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

$311,333

$373,557

$326,511

May

$324,128 $334,561 $331,572

Year To Date

- 0.9%+ 20.0% - 12.6% + 3.2%

12-Month Avg $320,744 $338,980 +5.7%


2012 2013 2014

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Average Sales Price

2012 2013 2014

Percent of List Price Received

MonthPrior Year

Current Year

+ / –

June 94.9% 95.2% +0.3%

July 94.8% 95.1% +0.4%

August 94.8% 95.5% +0.7%

September 94.0% 95.5% +1.6%

October 95.0% 95.6% +0.6%

November 95.5% 94.6% -0.9%

December 95.2% 95.0% -0.3%

January 95.1% 95.2% +0.2%

February 95.3% 95.2% -0.1%

March 96.1% 95.1% -1.1%

April 95.1% 96.0% +0.9%

May 95.8% 94.8% -1.1%

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.

94.9% 95.8% 94.8%

May

94.1% 95.5% 95.3%

Year To Date

-0.3%+1.0% -1.1% +1.5%

12-Month Avg 95.2% 95.2% +0.1%


2012 2013 2014

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Percent of List Price Received

2012 2013 2014

Housing Affordability Index

MonthPrior Year

Current Year

+ / –

June 143 124 -13.1%

July 151 106 -30.2%

August 156 119 -23.4%

September 147 129 -11.9%

October 143 127 -11.3%

November 145 134 -7.5%

December 143 128 -10.4%

January 141 137 -3.0%

February 148 122 -17.8%

March 150 118 -21.2%

April 131 109 -16.4%

May 120 126 +4.6%

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

140

120126

May

145

133125

Year To Date

-5.5%-14.2% +4.6% -8.7%

12-Month Avg 143 123 -13.5%


2012 2013 2014

0

20

40

60

80

100

120

140

160

180

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Housing Affordability Index

2012 2013 2014

Inventory of Homes for Sale

MonthPrior Year

Current Year

+ / –

June 2,958 2,721 -8.0%

July 2,902 2,642 -9.0%

August 2,863 2,619 -8.5%

September 2,881 2,566 -10.9%

October 2,834 2,577 -9.1%

November 2,769 2,527 -8.7%

December 2,608 2,424 -7.1%

January 2,644 2,492 -5.7%

February 2,706 2,546 -5.9%

March 2,805 2,668 -4.9%

April 2,849 2,761 -3.1%

May 2,798 2,687 -4.0%

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

3,0462,798 2,687

May

-4.0%-8.1%

12-Month Avg 2,801 2,603 -7.1%


2012 2013 2014

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Inventory of Homes for Sale

Months Supply of Inventory

MonthPrior Year

Current Year

+ / –

June 11.2 9.0 -19.0%

July 11.0 8.5 -22.0%

August 10.6 8.5 -19.7%

September 10.5 8.2 -21.9%

October 10.1 8.2 -18.9%

November 9.7 8.0 -17.2%

December 9.2 7.7 -15.7%

January 9.1 8.0 -12.2%

February 9.2 8.2 -10.3%

March 9.5 8.5 -10.4%

April 9.7 8.8 -9.4%

May 9.4 8.6 -9.0%

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.

11.6

9.48.6

May

-9.0%-18.9%

12-Month Avg 9.9 8.4 -15.7%


2012 2013 2014

0

5

10

15

20

25

30

1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Months Supply of Inventory

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Hilton head mmi(4)