January, 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

January 2013

Research powered by SiteTech Systems

Sales Volume Up……Sales Prices still Lagging After a strong 2012 which had double digit sales growth for Single Family Residential (SFR) and Condos, January was another solid month in Year over Year sales growth. In SFR, sales volume experienced its expected seasonal drop from December but was up 3.5% from 2012 and 16.3% from 2011. SFR inventory was flat with December but up 3.5% from its January 2012 level. The slight increase in inventory was mostly non-distressed listings as distressed inventory continues to decline. Driven by an uptick in percentage of SFR distressed sales, the median sales price fell to $160,000. This is 4.8% below its average for 2012. Condo inventory levels continue to tighten as its current level is 13.5% below its prior year level. Distressed condo listings continue to decline and represents a smaller sector of the total listings. Although condo sales had its expected seasonal downtick in volume, January volume was up 7.1% as compared to 2011 and 2012 levels. Offsetting an increase in sales activity, the median sales price for condo fell to $96,000 in January. This represents a 7.9% decline for its 2012 average. The decline was driven a decrease in the median sales price on non-distressed properties. Residential lot sales were up about 8% while sales prices remained in line with prior year levels. The level of distressed sales were up from the fourth quarter driven primary by a higher level of distressed SFR activity.

Grand Strand Active Inventory

Single Family Residential # Listings

Horry Co. 3,692

Georgetown Co. 802

Total 4,494

Average List Price $335,518

Median List Price $224,611

Condo/Townhome # Listings

Horry Co. 3,691

Georgetown Co. 395

Total 4,086



Horry Co.

G’town Co.

Less than $150k 1,038 81

$150k - $250k 1,354 183

$250k - $500k 964 279

$500k - $1.0 MM 249 141

$1 MM + 87 118

Horry Co.

G’town Co.

Less than $100k 1,287 52

$100k - $150k 895 89

$150k - $200k 585 70

$200k - $400k 689 96

$400k -$750k 185 58

$750+ 50 30

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,756

Georgetown Co. 752

Total 2,508



Horry Co.

G’town Co.

Less than $25k 311 64

$25k - $50k 664 95

$50k - $75k 259 81

$75k-100k 160 115

$100k-175k 166 148

$175k -250k 77 116

$250k+ 119 133

Presenter

Presentation Notes

done

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

January 2011 4,784

January 2012 4,340

January 2013 4,494

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

# of

Lis

tings

Grand Strand SFR Inventory

January 2011 886

January 2012 796

January 2013 641

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


January 2011 4,931 January 2012

4,725

January 2013 4,086

4,000

4,500

5,000

5,500

6,000

# of

Lis

tings

Grand Strand Condo Inventory

January 2011 915

January 2012 841

January 2013 594

550

600

650

700

750

800

850

900

950

1000

# of

Dis

tres

sed

Grand Strand Distressed Condo Listings

Presenter

Presentation Notes

done

Closed Sales - SFR

January Year to Date

March 2006500

January 2009149

January 2013264

100150200250300350400450500550

Jan 06 Jan 07 Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jan 13

Historical Activity


227

255264

2011 2012 2013

227

255264

2011 2012 2013

Presenter

Presentation Notes

done

Average Sales Price - SFR January Year to Date

March 2007$346,428

September 2012$197,947 January 2013

$210,519

$195,000

$225,000

$255,000

$285,000

$315,000

$345,000

$375,000


Historical Activity


$204,882

$211,598 $210,519

2011 2012 2013

$204,882

$211,598 $210,519

2011 2012 2013

Presenter

Presentation Notes

donezo

Median Sales Price - SFR January

$160,500

$165,000

$160,000

2011 2012 2013

Year to Date

June 2006$242,310 November 2012

$154,950

January 2013$160,000

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000


Historical Activity


$160,500

$165,000

$160,000

2011 2012 2013

Presenter

Presentation Notes

donezo

Median Sales Price – SFR Distressed & Non-Distressed


$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000Ja

n-10

Feb-

10M

ar-1

0Ap

r-10

May

-10

Jun-

10Ju

l-10

Aug-

10Se

p-10

Oct

-10

Nov

-10

Dec

-10

Jan-

11Fe

b-11

Mar

-11

Apr-

11M

ay-1

1Ju

n-11

Jul-1

1Au

g-11

Sep-

11O

ct-1

1N

ov-1

1D

ec-1

1Ja

n-12

Feb-

12M

ar-1

2Ap

r-12

May

-12

Jun-

12Ju

l-12

Aug-

12Se

p-12

Oct

-12

Nov

-12

Dec

-12

Jan-

13

Non-Distressed

Distressed

Combined

Presenter

Presentation Notes

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

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

Cash

Conventional

Combined

Presenter

Presentation Notes

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

done

Sold to List Price Ratio - SFR January

88%

90%

92%

2011 2012 2013

Year to Date

Dec '05- Jan '0698%

April 201186%

January 201392%

83

85

87

89

91

93

95

97

99


Historical Activity


88%90%

92%

2011 2012 2013

Presenter

Presentation Notes

done

Closed Sales - Condo January

210 210

225

2011 2012 2013

Year to Date

Historical Activity

12

May 2006845

January 2009117

January 2013225

50

250

450

650

850

1050


Research performed by SiteTech Systems

210 210

225

2011 2012 2013

Average Sales Price - Condo January Year to Date

June 2007$348,053

December 2010$105,000

January 2013$131,518

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000


Historical Activity


$141,489

$123,565

$131,580

2011 2012 2013

$141,489

$123,565

$131,580

2011 2012 2013

Presenter

Presentation Notes

donezo

Median Sales Price ‐ CondoJanuary

$105,950

$94,950 $96,000

2011 2012 2013

Year to Date

June 2007$249,921

November 2011$93,450

January 2013$96,000

$75,000

$125,000

$175,000

$225,000

$275,000


Historical Activity

14Research performed by SiteTech Systems

$105,950

$94,950 $96,000

2011 2012 2013

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

Jan-

11

Feb-

11

Mar

-11

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

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

Jan-

11Fe

b-11

Mar

-11

Apr-

11M

ay-1

1Ju

n-11

Jul-1

1Au

g-11

Sep-

1111

-Oct

11-N

ovD

ec-1

1Ja

n-12

12-F

ebM

ar-1

2Ap

r-12

May

-12

Jun-

12Ju

l-12

Aug-

12Se

p-12

Oct

-12

Nov

-12

Dec

-12

Jan-

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%

Jan-

11Fe

b-11

Mar

-11

Apr-

11M

ay-1

1Ju

n-11

Jul-1

1Au

g-11

11-S

ep11

-Oct

11-N

ovD

ec-1

1Ja

n-12

12-F

ebM

ar-1

2Ap

r-12

May

-12

Jun-

12Ju

l-12

Aug-

12Se

p-12

Oct

-12

Nov

-12

Dec

-12

Jan-

13

% Cash

% Conventional

Presenter

Presentation Notes

done

Sold to List Price Ratio - Condo January

87%

86%

87%

2011 2012 2013

Year to Date

December 200598%

April & May 200981%

January 201387%

75

80

85

90

95

100

105


Historical Activity


87%

86%

87%

2011 2012 2013

Presenter

Presentation Notes

done

Closed Sales – Residential Lot

37

6368

2011 2012 2013

Year to Date

April 2006266

January 200911

January 201368

10

60

110

160

210

260

310


Historical Activity

19

January

Research performed by SiteTech Systems

37

6368

2011 2012 2013

Average Sales Price – Residential LotJanuary Year to Date

July 2008$275,614

October 2011$35,780

January 2013$86,756

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000


Historical Activity


$83,754

$64,587

$86,756

2011 2012 2013

$83,754

$64,587

$86,756

2011 2012 2013

Median Sales Price – Residential LotJanuary

$50,000

$32,000 $32,500

2011 2012 2013

Year to Date

August 2006$130,000

November 2011$15,000

January 2013$32,500

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000


Historical Activity


$50,000

$32,000 $32,500

2011 2012 2013

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

$85,000

$40,000$49,880

2011 2012 2013

Year to Date

Historical Activity


$85,000

$40,000$49,880

2011 2012 2013

January 2011 $85,000

October 2011 $23,250

January 2013 $49,880

$- $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 January Year to Date

67%

70%

74%

2011 2012 2013

April 200699%

November 201147%

January 201374%

40

50

60

70

80

90

100

110


Historical Activity


67%

70%

74%

2011 2012 2013

Grand Strand Distressed Inventory

Single Family Residential # Listings

Horry Co. 578

Georgetown Co. 63

Total 641



Condo/Townhome # Listings

Horry Co. 553

Georgetown Co. 41

Total 594



Horry Co.

G’town Co.


$150k - $250k 137 22

$250k - $500k 86 15

$500k - $1.0 MM 21 4

$1 MM + 4 1

Distribution by Price Range


Residential Lot # Listings

Horry Co. 247

Georgetown Co. 91

Total 338



Horry Co.

G’town Co.


$25k - $50k 95 23

$50k - $75k 30 9

$75k-100k 13 16

$100k-175k 16 10

$175k -250K 2 7

$250K + 6 3

Horry Co.

G’town Co.


$100k - $150k 85 10

$150k - $200k 59 6

$200k - $400k 62 4

$400k -$750k 5 4

$750+ 2 -

Distressed Sales Total

Jan Mar May July Sept Nov Jan

SFR

Jan Mar May Jul Sep Nov Jan

Condo



% Total Sales

37 32 33

28 28 29 29 29 29 23 25 25 27


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

January 2013 Quick Facts

23456789

10111213Months Supply of Inventory

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

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

+ 10.3%Change in

Closed SalesSingle-Family Only

Click on desired metric to jump to that page.

The idea of doing data analysis is about as exciting to some as renewing a driver's license. Sometimes watching monthly figures can feel like watching grass grow. Try to ignore the confusion of high school statistics class – those regressions and cotangents can't hurt you anymore. The number crunching is done for you, so let the trend be your friend. And for the first time since 2006, the numbers are largely positive. Let's look at the cheat sheet.

New Listings in the Coastal Carolinas region were up 9.8 percent for detached homes but decreased 4.1 percent for condos. Pending Sales increased 59.0 percent for single-family homes and 24.3 percent for condos.

The Median Sales Price was down 3.1 percent to $155,000 for single-family properties but increased 4.8 percent to $98,000 for condo units. Months Supply of Inventory decreased 28.5 percent for single-family units and 31.9 percent for townhouse-condo units.

It's important to watch the economy, since job growth directly fuels home purchases and since the housing industry generates jobs. The economy has added about 6.1 million jobs over the past 35 months, a sluggish but encouraging trend. Interest rates are slowly moving higher in some regions, though the affordability picture remains extremely attractive.

+ 11.9%Change in

Closed SalesCondo Only

+ 11.0%Change in

Closed SalesAll Properties

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

Single-Family Market Overview

Key Metrics Historical Sparklines 1-2012 1-2013 + / – YTD 2012 YTD 2013 + / –

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

301 + 10.3%

148

4,307

183 160

163 + 9.5%

--

$203,310 $197,758 - 2.7%

$159,900 $155,000

$197,758

95.5% 94.7%

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent ofList Price Received

$203,310

273 301 + 10.3% 273

New Listings

Pending Sales

Closed Sales

+ 9.8%

339 539 + 59.0% 339 539 + 59.0%

839764 839 + 9.8% 764

$159,900 $155,000

- 0.8%

- 12.7% 183 160 - 12.7%

- 3.1%

- 0.8% 95.5% 94.7%

- 2.7%

- 3.1%

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

12.2

163 + 9.5%

- 11.4%

- 28.5%

3,816

8.8

148

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

Condo Market Overview

Key Metrics Historical Sparklines 1-2012 1-2013 + / – YTD 2012 YTD 2013 + / –

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

- 4.1%

Pending Sales 309 384 + 24.3% 309 384 + 24.3%

New Listings 704 675 - 4.1% 704 675

+ 11.9%

Days on Market Until Sale 183 186 + 1.9% 183 186 + 1.9%

Closed Sales 210 235 + 11.9% 210 235

+ 4.8%

Average Sales Price $123,343 $132,869 + 7.7% $123,343 $132,869 + 7.7%

Median Sales Price $93,500 $98,000 + 4.8% $93,500 $98,000

+ 1.3%

Housing Affordability Index 235 243 + 8.6% 235 243 + 8.6%

Percent ofList Price Received

92.6% 93.8% + 1.3% 92.6% 93.8%


--

Months Supplyof Homes for Sale

14.8 10.1 - 31.9% -- -- --

Inventory of Homes for Sale 4,388 3,468 - 21.0% -- --

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

1-2010 1-2011 1-2012 1-2013

New Listings

MonthSingle-Family

YoYChg.

CondoYoYChg.

February 703 - 8.5% 609 - 2.1%

March 803 - 11.0% 658 - 13.4%

April 743 + 0.4% 617 - 15.8%

May 807 + 17.5% 600 + 8.3%

June 754 + 2.6% 503 - 15.7%

July 689 + 6.3% 521 - 5.6%

August 754 + 6.2% 501 - 10.5%

September 684 + 13.8% 458 - 9.1%

October 731 + 15.3% 553 + 2.0%

November 656 + 8.4% 467 - 16.5%

December 501 + 10.1% 337 - 23.9%

January 839 + 9.8% 675 - 4.1%

Total 8,664 + 5.0% 6,609 - 9.1%

+


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

766

649

764

704

839

675

Single-Family Condo

January

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

-4.1% +8.5% +9.8% -0.3%

2013 2012 2011 2013 2012 2011

766

649

764

704

839

675

Single-Family Condo

Year to Date

-4.1% +8.5% +9.8% -0.3%

2013 2012 2011 2013 2012 2011

Pending Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

February 410 + 20.9% 337 + 1.5%

March 471 + 10.6% 396 - 0.3%

April 436 + 12.7% 427 + 13.6%

May 473 + 23.2% 355 + 12.3%

June 466 + 28.0% 341 + 22.7%

July 437 + 10.9% 338 + 25.2%

August 460 + 29.2% 351 + 6.4%

September 397 + 16.1% 350 + 33.6%

October 475 + 43.1% 345 + 33.2%

November 350 + 16.7% 266 + 13.2%

December 314 + 22.2% 235 + 22.4%

January 539 + 59.0% 384 + 24.3%

Total 5,228 + 23.9% 4,181 + 16.1%

+


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

295 269

339 309

539

384

Single-Family Condo

January

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

+24.3% +14.9% +59.0% +14.9%

2013 2012 2011 2013 2012 2011

295 269

339 309

539

384

Single-Family Condo

Year to Date

+24.3% +14.9% +59.0% +14.9%

2013 2012 2011 2013 2012 2011

Closed Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

February 296 + 17.5% 271 + 13.4%

March 387 + 6.9% 355 - 6.3%

April 369 + 0.8% 355 - 4.8%

May 429 + 19.2% 405 + 14.7%

June 455 + 12.3% 393 + 10.7%

July 453 + 29.8% 311 + 9.5%

August 468 + 19.7% 356 + 23.2%

September 402 + 13.9% 291 - 2.3%

October 431 + 25.7% 362 + 36.6%

November 426 + 26.4% 332 + 38.9%

December 402 + 24.5% 274 + 5.8%

January 301 + 10.3% 235 + 11.9%

Total 4,819 + 17.1% 3,998 + 11.6%

+


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

243

210

273

210

301

235

Single-Family Condo

January

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

+11.9% 0.0% +10.3% +12.3%

2013 2012 2011 2013 2012 2011

243

210

273

210

301

235

Single-Family Condo

Year to Date

+11.9% 0.0% +10.3% +12.3%

2013 2012 2011 2013 2012 2011


MonthSingle-Family

YoYChg.

CondoYoYChg.

February 185 + 16.4% 184 + 5.7%

March 177 - 3.6% 166 - 2.9%

April 175 - 3.7% 170 - 1.0%

May 182 + 13.0% 170 - 9.3%

June 175 - 4.7% 183 - 0.2%

July 162 - 11.1% 170 - 8.3%

August 172 - 1.3% 171 - 2.8%

September 149 - 16.1% 167 - 15.0%

October 157 - 21.2% 182 - 6.8%

November 157 - 14.1% 187 + 10.7%

December 173 - 2.0% 200 + 21.0%

January 160 - 12.7% 186 + 1.9%

Total 168 - 6.0% 177 - 1.3%

+


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

196 186 183 183

160

186

Single-Family Condo

January

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

+1.9% -1.9% -12.7% -6.7%

2013 2012 2011 2013 2012 2011

196 186 183 183

160

186

Single-Family Condo

Year to Date

+1.9% -1.9% -12.7% -6.7%

2013 2012 2011 2013 2012 2011

Median Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

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

March 160,000 - 10.1% 103,100 - 6.2%

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 165,713 + 2.1% 95,000 - 13.6%

August 166,275 + 2.2% 102,897 + 3.0%

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

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

November 155,000 - 1.3% 104,250 + 13.3%

December 164,228 + 1.2% 110,000 + 2.3%

January 155,000 - 3.1% 98,000 + 4.8%

Median 160,000 - 3.0% 105,000 - 2.3%

+


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

$156,000

$107,450

$159,900

$93,500

$155,000

$98,000

Single-Family Condo

January

$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

+4.8% -13.0% -3.1% +2.5%

2013 2012 2011 2013 2012 2011

$156,000

$107,450

$159,900

$93,500

$155,000

$98,000

Single-Family Condo

Year to Date

+4.8% -13.0% -3.1% +2.5%

2013 2012 2011 2013 2012 2011

Average Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

February 205,136 - 1.9% 129,324 + 3.0%

March 210,628 - 8.9% 130,396 - 9.3%

April 193,971 - 7.3% 143,335 + 10.5%

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

June 215,293 - 4.4% 142,841 - 2.6%

July 205,412 + 1.0% 135,288 - 6.9%

August 208,071 + 6.3% 129,716 + 5.1%

September 188,817 - 9.1% 128,713 - 6.5%

October 197,444 - 10.2% 133,098 - 13.7%

November 194,857 - 5.2% 133,776 + 1.3%

December 204,608 - 7.5% 145,909 + 9.8%

January 197,758 - 2.7% 132,869 + 7.7%

Average 185,711 - 4.9% 136,111 - 1.1%

+


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

$193,351

$143,550

$203,310

$123,343

$197,758

$132,869

Single-Family Condo

January

$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

+ 7.7% - 14.1% - 2.7% + 5.2%

2013 2012 2011 2013 2012 2011

$193,351

$143,550

$203,310

$123,343

$197,758

$132,869

Single-Family Condo

Year to Date

+ 7.7% - 14.1% - 2.7% + 5.2%

2013 2012 2011 2013 2012 2011

Percent of List Price Received

MonthSingle-Family

YoYChg.

CondoYoYChg.

February 95.3% + 0.9% 93.3% - 0.3%

March 94.5% - 0.8% 93.0% - 0.5%

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% 94.2% + 2.5%

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% + 1.5% 93.6% - 0.1%

December 95.2% + 1.2% 94.1% + 1.0%

January 94.7% - 0.8% 93.8% + 1.3%

Average 90.9% + 2.6% 88.6% + 1.6%

+


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.

94.0% 94.3% 95.5% 92.6% 94.7% 93.8%

Single-Family Condo

January

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

+1.3% -1.8% -0.8% +1.6%

2013 2012 2011 2013 2012 2011

94.0% 94.3% 95.5% 92.6% 94.7% 93.8%

Single-Family Condo

Year to Date

+1.3% -1.8% -0.8% +1.6%

2013 2012 2011 2013 2012 2011

Housing Affordability Index

MonthSingle-Family

YoYChg.

CondoYoYChg.

February 144 + 6.2% 237 + 19.8%

March 151 + 8.9% 223 + 15.6%

April 152 + 21.0% 204 + 16.2%

May 150 + 10.3% 220 - 1.0%

June 155 + 8.7% 216 + 13.0%

July 151 + 20.0% 244 + 14.5%

August 151 + 8.7% 231 + 22.8%

September 163 + 7.8% 237 + 7.1%

October 159 + 16.4% 234 + 16.2%

November 163 + 13.8% 233 + 10.8%

December 157 + 10.9% 226 + 0.2%

January 163 + 9.5% 243 + 8.6%

Average 155 + 11.8% 229 + 12.0%

+

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.


139

196

148

235

163

243

Single-Family Condo

January

75

100

125

150

175

200

225

250

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

Historical Housing Affordability Index Single-Family Condo

+8.6% +3.5% +9.5% +3.2%

2013 2012 2011 2013 2012 2011

139

196

148

235

163

243

Single-Family Condo

Year to Date

+8.6% +3.5% +9.5% +3.2%

2013 2012 2011 2013 2012 2011


MonthSingle-Family

YoYChg.

CondoYoYChg.

February 4,306 - 10.8% 4,398 - 6.2%

March 4,293 - 12.7% 4,355 - 7.7%

April 4,294 - 11.9% 4,223 - 11.2%

May 4,279 - 11.0% 4,191 - 11.3%

June 4,266 - 11.3% 4,068 - 13.5%

July 4,192 - 11.0% 3,985 - 14.2%

August 4,198 - 10.1% 3,898 - 14.4%

September 4,173 - 8.4% 3,739 - 16.5%

October 4,050 - 10.6% 3,664 - 17.6%

November 4,045 - 10.2% 3,626 - 18.7%

December 3,852 - 9.2% 3,456 - 19.8%

January 3,816 - 11.4% 3,468 - 21.0%

Average 3,040 - 12.6% 3,538 - 20.7%

+


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

4,752 4,674 4,307 4,388

3,816 3,468

Single-Family Condo

January

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

-21.0% -6.1% -11.4% -9.4%

2013 2012 2011 2013 2012 2011

Months Supply of Inventory

MonthSingle-Family

YoYChg.

CondoYoYChg.

February 12.0 - 19.1% 15 - 6.7%

March 11.9 - 20.9% 14.7 - 6.7%

April 11.8 - 22.8% 14.0 - 11.4%

May 11.5 - 21.9% 13.8 - 11.8%

June 11.2 - 23.2% 13.1 - 16.4%

July 10.9 - 22.2% 12.6 - 18.6%

August 10.7 - 22.5% 12.3 - 19.1%

September 10.5 - 20.8% 11.5 - 23.6%

October 9.9 - 24.8% 11.1 - 27.2%

November 9.8 - 24.9% 10.9 - 29.0%

December 9.2 - 24.5% 10.2 - 30.3%

January 8.8 - 28.5% 10.1 - 31.9%

Average 7.9 - 29.9% 10.2 - 31.7%

+


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.

14.7 16.2

12.2

14.8

8.8 10.1

Single-Family Condo

January

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

-31.9% -8.4% -28.5% -16.7%

2013 2012 2011 2013 2012 2011

January 2013 Quick Facts

$150,000 and Below 3 Bedrooms

234567

Housing Supply Overview

+ 16.5% + 16.9%The first month of 2013 looks very similar to 2012, as most metrics continue to indicate market recovery. For the 12-month period spanning February 2012 through January 2013, Closed Sales in the Coastal Carolinas region were up 14.4 percent overall. The price range with the largest gain in sales was the $150,000 and Below range, where they increased 16.5 percent.

The overall Median Sales Price was down 0.1 percent to $138,900. The property type with the smallest price decline was the Condo segment, where prices decreased 1.9 percent to $105,000. The price range that tended to sell the quickest was the $150,000 and Below range at 161 days; the price range that tended to sell the slowest was the $300,001 and Above range at 207 days.

Market-wide, inventory levels were down 16.2 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 11.4 percent. That amounts to 8.8 months supply for Single-Family homes and 10.1 months supply for Condos.

+ 17.4%

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 1-2012 1-2013 Change 1-2012 1-2013 Change 1-2012 1-2013 Change

$150,000 and Below 4,057 4,727 + 16.5% 1,679 2,077 + 23.7% 2,378 2,650 + 11.4%

$150,001 to $200,000 1,321 1,538 + 16.4% 843 997 + 18.3% 478 541 + 13.2%

$200,001 to $250,000 782 872 + 11.5% 518 575 + 11.0% 264 297 + 12.5%

$250,001 to $300,000 546 616 + 12.8% 379 426 + 12.4% 167 190 + 13.8%

$300,001 and Above 951 1,006 + 5.8% 695 744 + 7.1% 256 262 + 2.3%

All Price Ranges 7,657 8,759 + 14.4% 3,628 4,240 + 16.9% 3,362 3,727 + 10.9%

By Bedroom Count 1-2012 1-2013 Change 1-2012 1-2013 Change 1-2012 1-2013 Change

2 Bedrooms or Less 2,261 2,578 + 14.0% 250 324 + 29.6% 2,011 2,254 + 12.1%

3 Bedrooms 3,776 4,433 + 17.4% 2,638 3,129 + 18.6% 1,138 1,304 + 14.6%

4 Bedrooms or More 1,347 1,493 + 10.8% 1,226 1,365 + 11.3% 121 128 + 5.8%

All Bedroom Counts 7,657 8,759 + 14.4% 3,628 4,240 + 16.9% 3,362 3,727 + 10.9%

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


All Properties Single-Family Homes Condos

4,057

1,321

782 546

951

4,727

1,538

872 616

1,006

$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 1-2012 1-2013

2,261

3,776

1,347

2,578

4,433

1,493

2 Bedrooms or Less

3 Bedrooms 4 Bedrooms or More

By Bedroom Count 1-2012 1-2013

+ 16.5%

3,628 3,362

4,240

3,727

Single-Family Homes Condos

By Property Type 1-2012 1-2013

+ 16.4% + 11.5% + 12.8% + 5.8% + 16.9% + 10.9% + 14.0% + 17.4% + 10.8%



$150,000 and Below 169 161 - 4.8% 169 157 - 7.2% 170 165 - 2.9%

$150,001 to $200,000 186 173 - 7.3% 174 156 - 10.4% 208 204 - 1.9%

$200,001 to $250,000 175 188 + 7.7% 171 183 + 7.1% 182 198 + 8.8%

$250,001 to $300,000 192 192 - 0.2% 181 187 + 3.3% 220 204 - 6.9%

$300,001 and Above 217 207 - 4.4% 220 201 - 8.8% 207 227 + 10.1%

All Price Ranges 179 172 - 3.9% 179 168 - 6.0% 180 177 - 1.4%


2 Bedrooms or Less 177 171 - 3.3% 174 163 - 6.1% 177 172 - 2.9%

3 Bedrooms 175 170 - 2.8% 172 163 - 5.4% 180 186 + 3.2%

4 Bedrooms or More 198 185 - 6.4% 195 182 - 6.6% 228 220 - 3.7%

All Bedroom Counts 179 172 - 3.9% 179 168 - 6.0% 180 177 - 1.4%

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



169 186

175 192

217

161 173

188 192 207

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


177 175

198

171 170

185

2 Bedrooms or Less



- 4.8%

179 180

168

177



- 7.3% + 7.7% - 0.2% - 4.4% - 6.0% - 1.4% - 3.3% - 2.8% - 6.4%

Median Sales Price


2 Bedrooms or Less $92,000 $90,000 - 2.2% $94,850 $95,000 + 0.2% $91,000 $89,900 - 1.2%

3 Bedrooms $150,000 $149,900 - 0.1% $148,900 $147,900 - 0.7% $155,000 $155,900 + 0.6%

4 Bedrooms or More $255,000 $250,000 - 2.0% $250,250 $246,990 - 1.3% $280,000 $291,750 + 4.2%

All Bedroom Counts $139,000 $138,900 - 0.1% $165,000 $160,000 - 3.0% $107,000 $105,000 - 1.9%

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



$92,000

$150,000

$255,000

$90,000

$149,900

$250,000

2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More


$139,000

$165,000

$107,000

$138,900

$160,000

$105,000



- 3.0% - 1.9% - 2.2% - 0.1% - 0.1% - 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% 93.5% + 0.3%

$150,001 to $200,000 95.1% 95.8% + 0.7% 95.9% 96.5% + 0.6% 93.8% 94.7% + 1.0%

$200,001 to $250,000 94.8% 95.5% + 0.7% 95.5% 96.2% + 0.7% 93.3% 94.2% + 1.0%

$250,001 to $300,000 95.0% 95.8% + 0.8% 96.0% 96.3% + 0.3% 92.5% 94.6% + 2.3%

$300,001 and Above 93.4% 94.6% + 1.3% 93.2% 94.5% + 1.4% 94.0% 94.8% + 0.9%

All Price Ranges 93.9% 94.6% + 0.7% 94.4% 95.2% + 0.8% 93.3% 93.8% + 0.5%


2 Bedrooms or Less 93.0% 93.3% + 0.3% 91.2% 92.3% + 1.2% 93.2% 93.4% + 0.2%

3 Bedrooms 94.6% 95.2% + 0.6% 95.0% 95.6% + 0.6% 93.7% 94.5% + 0.9%

4 Bedrooms or More 93.6% 94.9% + 1.4% 93.6% 94.9% + 1.4% 93.5% 94.9% + 1.5%

All Bedroom Counts 93.9% 94.6% + 0.7% 94.4% 95.2% + 0.8% 93.3% 93.8% + 0.5%

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%

95.1% 94.8%

95.0%

93.4%

93.9%

95.8%

95.5%

95.8%

94.6%

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


93.0%

94.6%

93.6%

93.3%

95.2% 94.9%

2 Bedrooms or Less



+ 0.6%

94.4%

93.3%

95.2%

93.8%



+ 0.7% + 0.7% + 0.8% + 1.3% + 0.8% + 0.5% + 0.3% + 0.6% + 1.4%



$150,000 and Below 3,748 2,988 - 20.3% 1,304 1,046 - 19.8% 2,444 1,942 - 20.5%

$150,001 to $200,000 1,381 1,213 - 12.2% 739 680 - 8.0% 642 533 - 17.0%

$200,001 to $250,000 909 796 - 12.4% 561 525 - 6.4% 348 271 - 22.1%

$250,001 to $300,000 658 546 - 17.0% 383 354 - 7.6% 275 192 - 30.2%

$300,001 and Above 1,999 1,741 - 12.9% 1,320 1,211 - 8.3% 679 530 - 21.9%

All Price Ranges 8,695 7,284 - 16.2% 4,307 3,816 - 11.4% 4,388 3,468 - 21.0%


2 Bedrooms or Less 2,769 2,250 - 18.7% 280 245 - 12.5% 2,489 2,005 - 19.4%

3 Bedrooms 3,860 3,165 - 18.0% 2,447 2,124 - 13.2% 1,413 1,041 - 26.3%

4 Bedrooms or More 1,814 1,642 - 9.5% 1,580 1,446 - 8.5% 234 196 - 16.2%

All Bedroom Counts 8,695 7,284 - 16.2% 4,307 3,816 - 11.4% 4,388 3,468 - 21.0%

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



3,748

1,381

909 658

1,999

2,988

1,213

796 546

1,741

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


2,769

3,860

1,814

2,250

3,165

1,642

2 Bedrooms or Less



- 20.3%

4,307 4,388

3,816 3,468



- 12.2% - 12.4% - 17.0% - 12.9% - 11.4% - 21.0% - 18.7% - 18.0% - 9.5%

Months Supply of Inventory


$150,000 and Below 11.0 7.2 - 34.5% 9.1 5.7 - 38.1% 12.3 8.4 - 31.6%

$150,001 to $200,000 12.3 8.8 - 28.2% 10.3 7.6 - 25.6% 15.9 11.0 - 30.9%

$200,001 to $250,000 13.7 9.8 - 28.4% 12.6 9.3 - 26.1% 15.9 10.9 - 31.5%

$250,001 to $300,000 13.9 10.2 - 26.6% 11.6 9.5 - 18.3% 19.3 11.9 - 38.1%

$300,001 and Above 24.9 19.1 - 23.5% 22.2 17.8 - 19.9% 32.6 22.8 - 30.1%

All Price Ranges 13.4 9.3 - 30.4% 12.2 8.8 - 28.5% 14.8 10.1 - 31.9%


2 Bedrooms or Less 14.6 10.1 - 30.6% 13.2 9.1 - 31.1% 14.8 10.3 - 30.5%

3 Bedrooms 12.0 7.9 - 34.3% 10.8 7.5 - 30.7% 15.0 8.9 - 40.3%

4 Bedrooms or More 15.8 12.0 - 23.8% 15.1 11.5 - 23.8% 22.1 17.7 - 20.0%

All Bedroom Counts 13.4 9.3 - 30.4% 12.2 8.8 - 28.5% 14.8 10.1 - 31.9%

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.



11.0 12.3

13.7 13.9

24.9

7.2 8.8

9.8 10.2

19.1

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


14.6

12.0

15.8

10.1

7.9

12.0

2 Bedrooms or Less



- 34.5%

12.2

14.8

8.8

10.1



- 28.2% - 28.4% - 26.6% - 23.5% - 28.5% - 31.9% - 30.6% - 34.3% - 23.8%

Documents

January, 2013 Market Report