february, 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

February 2013

Research powered by SiteTech Systems

January’s momentum continued in February…..strong sales and rebounded sales price led a strong February. Single Family Residential (SFR) sales activity remained strong as February’s volume was up 13.6% from February 2012. Year to date, SFR sales volume is up 16.6% to prior year levels. SFR inventory is seasonally up, however February’s level is 3% higher that prior year levels. On a positive note, non-distressed listings continue to decline and now represent a declining share of the total listing inventory. SFR median sales price rebounded from January to $175,000. This improvement was driven by higher non-distressed sales prices. Year to date, SFR median sales price is down 3.7% from 2012. Condo sales activity was strong in February; up 18.7% from prior year level. Year to date, condo sales are up 21.9%. Condo inventory increased seasonally, but is still below prior year levels (down 10.4%). Condo median sales prices rebounded from January, up 14.5% from January. The improvement was in both distressed and non-distressed sales. Year to date, the condo median sales price is up 9.5% from 2012. The rate of residential lot sales improvement slowed, but the 2013 volume is up 9% from 2012. Overall, distress sales remain at 28% of all sales, up slightly from Q4 2012.

Grand Strand Active Inventory

Single Family Residential # Listings

Horry Co. 3,872

Georgetown Co. 824

Total 4,696

Average List Price $335,624

Median List Price $224,500

Condo/Townhome # Listings

Horry Co. 3,765

Georgetown Co. 397

Total 4,162



Horry Co.

G’town Co.

Less than $150k 1,079 81

$150k - $250k 1,434 185

$250k - $500k 1,016 284

$500k - $1.0 MM 249 151

$1 MM + 94 123

Horry Co.

G’town Co.

Less than $100k 1,306 53

$100k - $150k 928 95

$150k - $200k 597 69

$200k - $400k 701 90

$400k -$750k 184 61

$750+ 49 29

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,743

Georgetown Co. 747

Total 2,490



Horry Co.

G’town Co.

Less than $25k 311 66

$25k - $50k 670 90

$50k - $75k 253 84

$75k-100k 147 106

$100k-175k 166 152

$175k -250k 79 119

$250k+ 117 130

Presenter

Presentation Notes

done

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

February 2011 4,969

February 2012 4,559

February 2013 4,696

4,000

4,200

4,400

4,600

4,800

5,000

5,200

# of

Lis

tings

Grand Strand SFR Inventory

February 2011 907

February 2012 799 February 2013

620

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


February 2011 5,012

February 2012 4,645

February 2013 4,162

4,0004,2004,4004,6004,8005,0005,2005,4005,6005,8006,000

# of

Lis

tings

Grand Strand Condo Inventory

February 2011 930

February 2012 799

February 2013 580

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

February Year to Date

Historical Activity


235 257 292

2011 2012 2013

462 507 591

2011 2012 2013

June 2007 436

January 2009 149

February 2012 292

0

100

200

300

400

500

Feb 07 Feb 08 Feb 09 Feb 10 Feb 11 Feb 12 Feb 13

Presenter

Presentation Notes

done

Average Sales Price - SFR February Year to Date

Historical Activity


$226,638

$219,155

$225,523

2011 2012 2013

$215,948$215,161

$217,478

2011 2012 2013

March 2007 $346,428

September 2012 $197,947

February 2013 $225,523

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000


Presenter

Presentation Notes

donezo

Median Sales Price - SFR February

$170,000

$180,000

$175,000

2011 2012 2013

Year to Date

Historical Activity


$167,613

$171,500

$165,205

2011 2012 2013

September 2007 $234,735

November 2012 $154,950

February 2013 $175,000

$140,000

$160,000

$180,000

$200,000

$220,000

$240,000

$260,000


Median Sales Price – SFR Distressed & Non-Distressed


$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000

Dec-

10

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

Jul-1

2

Aug-

12

Sep-

12

Oct

-12

Nov

-12

Dec-

12

Jan-

13

Feb-

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

Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 Apr-12 Jun-12 Aug-12 Oct-12 Dec 12 Feb-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 February

87%

90%

88%

2011 2012 2013

Year to Date

Historical Activity


88%90%

91%

2011 2012 2013

April 2007 95%

April 2011 86%

February 2013 88%

80

82

84

86

88

90

92

94

96


Presenter

Presentation Notes

done

Closed Sales - Condo February

237 257305

2011 2012 2013

Year to Date

Historical Activity


447 461562

2011 2012 2013

April 2007 448

January 2009 117

February 2013 305

0

100

200

300

400

500


Average Sales Price - Condo February Year to Date

Historical Activity


$133,046

$125,941

$134,589

2011 2012 2013

$125,565 $127,369

$137,659

2011 2012 2013

June 2007 $348,053

December 2010 $105,000

February 2013 $137,659

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000


Presenter

Presentation Notes

donezo

Median Sales Price - Condo February

$100,000 $95,000

$110,000

2011 2012 2013

Year to Date

Historical Activity


$105,000

$95,000

$104,000

2011 2012 2013

June 2007 $249,921

November 2011 $93,450

February 2013 $110,000

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000


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

$140,000De

c-10

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

Feb-

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

$170,000Fe

b-11

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

13-F

eb

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%

Feb-

11

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

% Conventional

% Cash

Presenter

Presentation Notes

done

Sold to List Price Ratio - Condo February

88%86%

90%

2011 2012 2013

Year to Date

Historical Activity


87%86%

89%

2011 2012 2013

April 2007 95%

Feb’-March 2009 81%

February 2013 90%

70

75

80

85

90

95

100


Presenter

Presentation Notes

done

Closed Sales – Residential Lot

44

6166

2011 2012 2013

Year to Date

Historical Activity

19

February

Research performed by SiteTech Systems

81

122135

2011 2012 2013

May 2007 126

January 2009 11

February 2013 66

0

20

40

60

80

100

120

140


Average Sales Price – Residential Lot February Year to Date

Historical Activity


$48,805

$63,158 $64,434

2011 2012 2013

$64,769 $63,124

$75,120

2011 2012 2013

July 2008 $275,614

October 2011 $35,780

February 2013 $64,434

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000


Median Sales Price – Residential Lot February

$30,000 $37,500 $36,250

2011 2012 2013

Year to Date

Historical Activity


$36,000

$35,000 $35,000

2011 2012 2013

May 2008 $106,000

November 2011 $15,000

February 2013 $36,250

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000


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

$36,000$45,000

$55,000

2011 2012 2013

Year to Date

Historical Activity


$41,500 $41,000$50,000

2011 2012 2013

August 2011 $83,000

October 2011 $23,250

February 2013 $55,000

$- $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 February Year to Date

68%70%

76%

2011 2012 2013

Historical Activity


68%70%

80%

2011 2012 2013

February 2008 94%

November 2011 47%

February 2013 80%

40

50

60

70

80

90

100


Grand Strand Distressed Inventory

Single Family Residential # Listings

Horry Co. 560

Georgetown Co. 60

Total 620



Condo/Townhome # Listings

Horry Co. 539

Georgetown Co. 41

Total 580



Horry Co.

G’town Co.


$150k - $250k 135 22

$250k - $500k 85 11

$500k - $1.0 MM 21 6

$1 MM + 3 1

Distribution by Price Range


Residential Lot # Listings

Horry Co. 228

Georgetown Co. 87

Total 315



Horry Co.

G’town Co.


$25k - $50k 86 18

$50k - $75k 32 9

$75k-100k 11 17

$100k-175k 14 12

$175k -250K 3 6

$250K + 4 4

Horry Co.

G’town Co.


$100k - $150k 89 10

$150k - $200k 53 3

$200k - $400k 62 8

$400k -$750k 7 4

$750+ 2 -

Distressed Sales Total

Feb Apr June August Oct Dec Feb

SFR

Feb Apr Jun Aug Oct Dec Feb

Condo



% Total Sales

32 33 28 28 29 29 29 29

23 25 25 27 28


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

February 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

+ 7.4%Change in

Closed SalesSingle-Family Only

Click on desired metric to jump to that page.

The sun is shining brighter for longer, the birds are chirping a bit louder and people have a renewed spring in their step. And then there's the climate. Home buyers and sellers are readying themselves for an exciting spring market. Buyers are motivated by an attractive affordability environment, while more and more sellers are receiving near top dollar for their home. We've come a long way over the past 12 to 18 months but we're not there yet. Here's how February stacked up.

New Listings in the Coastal Carolinas region were up 9.1 percent for detached homes but decreased 0.7 percent for condos. Pending Sales increased 26.3 percent for single-family homes and 12.4 percent for condos.

The Median Sales Price was down 2.6 percent to $166,000 for single-family properties but increased 15.0 percent to $109,250 for condo units. Months Supply of Inventory decreased 25.3 percent for single-family units and 31.0 percent for townhouse-condo units.

A few consumers may feel less confident due to Washington's latest self-inflicted crisis. Others would advise not to read the news in the first place. The fact is, the economy continues to grow, but at a snail's pace. Sequestration is more of a nuisance than a real threat to recovery; and there's significant pent–up demand from renters, first-timers, parents' basementers and investors to counteract it.

+ 12.2%Change in

Closed SalesCondo Only

+ 9.7%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 2-2012 2-2013 + / – 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

12.0

153 + 11.7%

- 8.7%

- 25.3%

3,937

9.0

144

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

$165,000 $160,000

- 0.8%

- 9.2% 184 166 - 10.0%

- 3.0%

- 1.1% 95.4% 94.6%

+ 3.3%

- 2.6%

+ 10.4%

410 518 + 26.3% 750 982 + 30.9%

1,621704 768 + 9.1% 1,468

296 318 + 7.4% 569

New Listings

Pending Sales

Closed Sales

95.3% 94.3%

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent ofList Price Received

$205,136

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

641 + 12.7%

144

4,311

185 168

153 + 11.7%

--

$204,264 $205,692 + 0.7%

$170,450 $166,000

$211,993

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

Condo Market Overview

Key Metrics Historical Sparklines 2-2012 2-2013 + / – YTD 2012 YTD 2013 + / –


--

Months Supplyof Homes for Sale

14.8 10.2 - 31.0% -- -- --

Inventory of Homes for Sale 4,397 3,524 - 19.9% -- --

+ 1.0%

Housing Affordability Index 238 223 + 7.2% 238 223 + 7.2%

Percent ofList Price Received

93.3% 94.0% + 0.8% 93.0% 93.9%

+ 8.8%

Average Sales Price $129,324 $138,611 + 7.2% $126,687 $135,818 + 7.2%

Median Sales Price $95,000 $109,250 + 15.0% $94,700 $103,000

+ 15.6%

Days on Market Until Sale 184 177 - 3.9% 183 182 - 0.9%

Closed Sales 271 304 + 12.2% 481 556

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

- 1.9%

Pending Sales 338 380 + 12.4% 648 742 + 14.5%

New Listings 610 606 - 0.7% 1,314 1,289

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

2-2010 2-2011 2-2012 2-2013

New Listings

MonthSingle-Family

YoYChg.

CondoYoYChg.

March 801 - 11.2% 660 - 13.2%

April 741 + 0.1% 617 - 15.8%

May 806 + 17.3% 598 + 7.9%

June 754 + 2.6% 504 - 15.4%

July 687 + 6.0% 520 - 5.8%

August 753 + 6.1% 499 - 10.9%

September 685 + 13.8% 458 - 9.1%

October 732 + 15.5% 553 + 2.0%

November 660 + 9.1% 467 - 16.5%

December 503 + 10.3% 337 - 23.9%

January 853 + 11.6% 683 - 3.0%

February 768 + 9.1% 606 - 0.7%

Total 8,743 + 6.8% 6,602 - 9.2%

+


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

768

622

704

610

768

606

Single-Family Condo

February

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

-0.7% -1.9% +9.1% -8.3%

2013 2012 2011 2013 2012 2011

1,534

1,271

1,468

1,314

1,621

1,289

Single-Family Condo

Year to Date

-1.9% +3.4% +10.4% -4.3%

2013 2012 2011 2013 2012 2011

Pending Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

March 469 + 10.1% 397 0.0%

April 435 + 12.4% 427 + 13.6%

May 474 + 23.4% 356 + 12.7%

June 467 + 28.3% 343 + 23.4%

July 433 + 9.9% 342 + 26.2%

August 464 + 30.3% 350 + 6.1%

September 402 + 17.5% 346 + 32.1%

October 464 + 39.8% 338 + 31.0%

November 351 + 17.8% 267 + 13.6%

December 307 + 17.2% 229 + 19.9%

January 464 + 36.5% 362 + 16.8%

February 518 + 26.3% 380 + 12.4%

Total 5,248 + 22.2% 4,192 + 16.2%

+


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

339 334

410

338

518

380

Single-Family Condo

February

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

+12.4% +1.2% +26.3% +20.9%

2013 2012 2011 2013 2012 2011

634 602

750

648

982

742

Single-Family Condo

Year to Date

+14.5% +7.6% +30.9% +18.3%

2013 2012 2011 2013 2012 2011

Closed Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

March 387 + 6.9% 355 - 6.3%

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 + 19.7% 356 + 23.2%

September 402 + 13.9% 291 - 2.3%

October 432 + 25.9% 362 + 36.6%

November 428 + 27.0% 332 + 38.9%

December 409 + 26.6% 277 + 6.9%

January 323 + 18.3% 252 + 20.0%

February 318 + 7.4% 304 + 12.2%

Total 4,875 + 17.2% 4,051 + 12.1%

+


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

252 239

296

271

318 304

Single-Family Condo

February

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

+12.2% +13.4% +7.4% +17.5%

2013 2012 2011 2013 2012 2011

495

449

569

481

641

556

Single-Family Condo

Year to Date

+15.6% +7.1% +12.7% +14.9%

2013 2012 2011 2013 2012 2011

Days on Market Until Sale

MonthSingle-Family

YoYChg.

CondoYoYChg.

March 177 - 3.6% 166 - 2.9%

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 - 1.3% 171 - 2.8%

September 149 - 16.1% 167 - 15.0%

October 157 - 21.1% 182 - 6.8%

November 156 - 14.3% 187 + 10.7%

December 172 - 2.2% 199 + 20.3%

January 163 - 10.8% 188 + 2.9%

February 168 - 9.2% 177 - 3.9%

Total 167 - 7.3% 177 - 1.9%

+


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

159

174 185 184

168 177

Single-Family Condo

February

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

-3.9% +5.7% -9.2% +16.4%

2013 2012 2011 2013 2012 2011

177 180 184 183

166

182

Single-Family Condo

Year to Date

-0.9% +2.0% -10.0% +3.9%

2013 2012 2011 2013 2012 2011

Median Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

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 165,500 + 2.0% 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 163,950 + 1.0% 110,000 + 2.3%

January 155,370 - 2.8% 95,500 + 2.1%

February 166,000 - 2.6% 109,250 + 15.0%

Median 160,000 - 3.0% 106,625 - 0.8%

+


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

$165,000

$100,000

$170,450

$95,000

$166,000

$109,250

Single-Family Condo

February

$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

+15.0% -5.0% -2.6% +3.3%

2013 2012 2011 2013 2012 2011

$160,350

$104,500

$165,000

$94,700

$160,000

$103,000

Single-Family Condo

Year to Date

+8.8% -9.4% -3.0% +2.9%

2013 2012 2011 2013 2012 2011

Average Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

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

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 + 6.3% 129,716 + 5.1%

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

October 197,356 - 10.2% 133,098 - 13.7%

November 194,771 - 5.3% 133,776 + 1.3%

December 205,002 - 7.3% 146,179 + 10.0%

January 199,531 - 1.9% 132,353 + 7.3%

February 211,993 + 3.3% 138,611 + 7.2%

Average 186,992 - 4.0% 136,863 - 0.7%

+


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

$209,009

$125,572

$205,136

$129,324

$211,993

$138,611

Single-Family Condo

February

$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

+ 7.2% + 3.0% + 3.3% - 1.9%

2013 2012 2011 2013 2012 2011

$201,343

$134,006

$204,264

$126,687

$205,692

$135,818

Single-Family Condo

Year to Date

+ 7.2% - 5.5% + 0.7% + 1.5%

2013 2012 2011 2013 2012 2011

Percent of List Price Received

MonthSingle-Family

YoYChg.

CondoYoYChg.

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% 94.3% + 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 95.7% + 1.6% 93.6% - 0.1%

December 95.3% + 1.3% 94.2% + 1.1%

January 94.9% - 0.6% 93.8% + 1.3%

February 94.3% - 1.1% 94.0% + 0.8%

Average 91.0% + 2.6% 88.8% + 1.8%

+


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.

94.5% 93.6% 95.3% 93.3% 94.3% 94.0%

Single-Family Condo

February

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

+0.8% -0.3% -1.1% +0.9%

2013 2012 2011 2013 2012 2011

94.2% 93.9% 95.4% 93.0% 94.6% 93.9%

Single-Family Condo

Year to Date

+1.0% -1.0% -0.8% +1.2%

2013 2012 2011 2013 2012 2011

Housing Affordability Index

MonthSingle-Family

YoYChg.

CondoYoYChg.

March 150 + 10.4% 222 + 17.2%

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 + 7.7% 237 + 7.1%

October 159 + 15.2% 234 + 15.1%

November 163 + 14.7% 233 + 11.7%

December 157 + 11.0% 226 + 0.3%

January 165 + 9.8% 251 + 8.7%

February 153 + 11.7% 223 + 7.2%

Average 157 + 13.3% 230 + 11.9%

+

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.


131

203

144

238

153

223

Single-Family Condo

February

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

+7.2% +21.2% +11.7% +7.5%

2013 2012 2011 2013 2012 2011

131

203

144

238

153

223

Single-Family Condo

Year to Date

+7.2% +21.2% +11.7% +7.5%

2013 2012 2011 2013 2012 2011

Inventory of Homes for Sale

MonthSingle-Family

YoYChg.

CondoYoYChg.

March 4,299 - 12.5% 4,355 - 7.7%

April 4,300 - 11.7% 4,224 - 11.2%

May 4,284 - 10.9% 4,190 - 11.3%

June 4,270 - 11.2% 4,069 - 13.4%

July 4,197 - 10.9% 3,981 - 14.3%

August 4,200 - 10.0% 3,892 - 14.5%

September 4,179 - 8.3% 3,740 - 16.5%

October 4,066 - 10.3% 3,672 - 17.4%

November 4,063 - 9.9% 3,635 - 18.5%

December 3,887 - 8.4% 3,475 - 19.3%

January 3,944 - 8.5% 3,523 - 19.7%

February 3,937 - 8.7% 3,524 - 19.9%

Average 3,127 - 10.1% 3,592 - 19.9%

+


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

4,826 4,687 4,311 4,397

3,937 3,524

Single-Family Condo

February

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

-19.9% -6.2% -8.7% -10.7%

2013 2012 2011 2013 2012 2011

Months Supply of Inventory

MonthSingle-Family

YoYChg.

CondoYoYChg.

March 11.9 - 20.8% 15 - 6.7%

April 11.8 - 22.6% 14.0 - 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 - 22.5% 12.3 - 19.3%

September 10.5 - 20.9% 11.5 - 23.5%

October 9.9 - 24.5% 11.1 - 27.0%

November 9.8 - 24.7% 10.9 - 28.7%

December 9.3 - 23.7% 10.3 - 29.8%

January 9.2 - 24.8% 10.3 - 30.2%

February 9.0 - 25.3% 10.2 - 31.0%

Average 8.1 - 27.2% 10.3 - 31.0%

+


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.

14.9 15.9

12.0

14.8

9.0 10.2

Single-Family Condo

February

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

-31.0% -6.8% -25.3% -19.1%

2013 2012 2011 2013 2012 2011

A RESEARCH TOOL PROVIDED BY THE CONSOLIDATED MULTIPLE LISTING SERVICE, INC.

February 2013 Quick Facts

Housing Supply Overview

+ 31.6% + 21.9%As we lean toward the spring market, let's review what's transpired over the past 12 months. For the 12-month period spanning March 2012 through February 2013, Pending Sales in the CMLS region were up 21.6

ll Th i i h h l i i l h

+ 21.7%

Price Range With the Bedroom Count With Property Type With

$100,000 and Below 3 Bedrooms

234567

percent overall. The price range with the largest gain in sales was the $100,000 and Below range, where they increased 31.6 percent.

The overall Median Sales Price was down 1.4 percent to $140,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 1.2 percent to $143,225. The price range that tended to sell the quickest was the $100,000 and Below range at 109 days; the price range that tended to sell the slowest was the $300,001 and Above range at 129 days.

Market-wide, inventory levels were down 7.3 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 5.5 percent. That amounts to 9.9 months supply for Single-Family homes and 11.4 months supply for Condos.

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:

Condos

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

All data comes from the Consolidated Multiple Listing Service, Inc. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | 1

Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total.

1,830 1,838

1,2791,126

692

2,409

2,085

1,460 1,434

835

$100,000 and Below

$100,001 to $150,000

$150,001 to $200,000

$200,001 to $300,000

$300,001 and Above

By Price Range2-2012 2-2013

719

3,382

2,663

863

4,117

3,241

2 Bedrooms or Less

3 Bedrooms 4 Bedrooms or More

By Bedroom Count2-2012 2-2013

+ 31.6%

6,240

525

7,583

640

Single-Family Homes Condos

By Property Type2-2012 2-2013

+ 13.4% + 14.2% + 27.4% + 20.7% + 21.5% + 21.9%+ 20.0% + 21.7% + 21.7%

By Price Range 2-2012 2-2013 Change 2-2012 2-2013 Change 2-2012 2-2013 Change

$100,000 and Below 1,830 2,409 + 31.6% 1,626 2,093 + 28.7% 204 316 + 54.9%

$100,001 to $150,000 1,838 2,085 + 13.4% 1,680 1,945 + 15.8% 158 140 - 11.4%

$150,001 to $200,000 1,279 1,460 + 14.2% 1,189 1,359 + 14.3% 90 101 + 12.2%

$200,001 to $300,000 1,126 1,434 + 27.4% 1,067 1,368 + 28.2% 59 66 + 11.9%

$300,001 and Above 692 835 + 20.7% 678 818 + 20.6% 14 17 + 21.4%

All Price Ranges 6,765 8,223 + 21.6% 6,240 7,583 + 21.5% 525 640 + 21.9%

By Bedroom Count 2-2012 2-2013 Change 2-2012 2-2013 Change 2-2012 2-2013 Change

2 Bedrooms or Less 719 863 + 20.0% 367 438 + 19.3% 352 425 + 20.7%

3 Bedrooms 3,382 4,117 + 21.7% 3,223 3,930 + 21.9% 159 187 + 17.6%

4 Bedrooms or More 2,663 3,241 + 21.7% 2,649 3,214 + 21.3% 14 27 + 92.9%

All Bedroom Counts 6,765 8,223 + 21.6% 6,240 7,583 + 21.5% 525 640 + 21.9%

All data comes from the Consolidated Multiple Listing Service, Inc. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2

All Properties Single-Family Homes Condos

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

115123 121

106

134

109119 115 117

129

$100,000 and Below

$100,001 to $150,000

$150,001 to $200,000

$200,001 to $300,000

$300,001 and Above


122119

117

132

113115

2 Bedrooms or Less



- 5.1%

117

140

114

139



- 3.7% - 5.2% + 9.7% - 3.3% - 2.8% - 0.6%+ 8.3% - 5.3% - 2.0%


$100,000 and Below 115 109 - 5.1% 113 106 - 6.2% 128 129 + 0.2%

$100,001 to $150,000 123 119 - 3.7% 121 117 - 2.9% 148 138 - 6.7%

$150,001 to $200,000 121 115 - 5.2% 120 112 - 6.0% 145 152 + 4.8%

$200,001 to $300,000 106 117 + 9.7% 104 114 + 9.5% 159 177 + 11.1%

$300,001 and Above 134 129 - 3.3% 134 129 - 3.4% 126 126 + 0.3%

All Price Ranges 119 116 - 2.6% 117 114 - 2.8% 140 139 - 0.6%


2 Bedrooms or Less 122 132 + 8.3% 106 124 + 16.4% 138 140 + 1.9%

3 Bedrooms 119 113 - 5.3% 118 112 - 5.1% 147 135 - 8.3%

4 Bedrooms or More 117 115 - 2.0% 117 115 - 2.3% 108 147 + 36.5%

All Bedroom Counts 119 116 - 2.6% 117 114 - 2.8% 140 139 - 0.6%



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

$100,000

$120,188

$198,568

$84,000

$119,900

$198,413

2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More


$142,000 $145,000

$119,495

$140,000 $143,225

$100,500



- 1.2% - 15.9%- 16.0% - 0.2% - 1.4%- 0.1%


2 Bedrooms or Less $100,000 $84,000 - 16.0% $90,500 $82,750 - 8.6% $105,000 $85,000 - 19.0%

3 Bedrooms $120,188 $119,900 - 0.2% $120,000 $119,363 - 0.5% $131,900 $129,500 - 1.8%

4 Bedrooms or More $198,568 $198,413 - 0.1% $198,000 $198,325 + 0.2% $315,000 $262,000 - 16.8%

All Bedroom Counts $142,000 $140,000 - 1.4% $145,000 $143,225 - 1.2% $119,495 $100,500 - 15.9%



p g y

Percent of List Price Received 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.

90.4%

96.9% 96.8% 97.0%

95.2%

90.2%

96.7%97.2% 96.9%

95.6%

$100,000 and Below

$100,001 to $150,000

$150,001 to $200,000

$200,001 to $300,000

$300,001 and Above


93.0%

94.4%

96.0%

91.9%

94.0%

96.4%

2 Bedrooms or Less



- 0.2%

94.9% 94.9%94.8%

93.2%



- 0.3% + 0.4% - 0.2% + 0.5% - 0.1% - 1.9%- 1.2% - 0.5% + 0.4%


$100,000 and Below 90.4% 90.2% - 0.2% 90.1% 90.0% - 0.2% 92.2% 91.4% - 0.9%

$100,001 to $150,000 96.9% 96.7% - 0.3% 97.0% 96.8% - 0.2% 96.0% 94.5% - 1.6%

$150,001 to $200,000 96.8% 97.2% + 0.4% 96.9% 97.3% + 0.4% 95.1% 94.7% - 0.4%

$200,001 to $300,000 97.0% 96.9% - 0.2% 96.9% 96.9% - 0.1% 98.8% 96.3% - 2.5%

$300,001 and Above 95.2% 95.6% + 0.5% 94.8% 95.6% + 0.8% 104.9% 97.4% - 7.1%

All Price Ranges 94.9% 94.7% - 0.2% 94.9% 94.8% - 0.1% 94.9% 93.2% - 1.9%


2 Bedrooms or Less 93.0% 91.9% - 1.2% 91.1% 90.7% - 0.5% 95.0% 93.1% - 2.0%

3 Bedrooms 94.4% 94.0% - 0.5% 94.4% 94.0% - 0.4% 94.4% 93.6% - 0.9%

4 Bedrooms or More 96.0% 96.4% + 0.4% 96.0% 96.4% + 0.5% 100.7% 91.8% - 8.8%

All Bedroom Counts 94.9% 94.7% - 0.2% 94.9% 94.8% - 0.1% 94.9% 93.2% - 1.9%



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

1,9952,073

1,232 1,161

964

1,7281,852

1,166 1,142996

$100,000 and Below

$100,001 to $150,000

$150,001 to $200,000

$200,001 to $300,000

$300,001 and Above


1,064

3,732

2,625

912

3,407

2,560

2 Bedrooms or Less



- 13.4%

6,640

785

6,276

608



- 10.7% - 5.4% - 1.6% + 3.3% - 5.5% - 22.5%- 14.3% - 8.7% - 2.5%


$100,000 and Below 1,995 1,728 - 13.4% 1,659 1,464 - 11.8% 336 264 - 21.4%

$100,001 to $150,000 2,073 1,852 - 10.7% 1,835 1,670 - 9.0% 238 182 - 23.5%

$150,001 to $200,000 1,232 1,166 - 5.4% 1,129 1,100 - 2.6% 103 66 - 35.9%

$200,001 to $300,000 1,161 1,142 - 1.6% 1,086 1,081 - 0.5% 75 61 - 18.7%

$300,001 and Above 964 996 + 3.3% 931 961 + 3.2% 33 35 + 6.1%

All Price Ranges 7,425 6,884 - 7.3% 6,640 6,276 - 5.5% 785 608 - 22.5%


2 Bedrooms or Less 1,064 912 - 14.3% 524 511 - 2.5% 540 401 - 25.7%

3 Bedrooms 3,732 3,407 - 8.7% 3,519 3,229 - 8.2% 213 178 - 16.4%

4 Bedrooms or More 2,625 2,560 - 2.5% 2,596 2,533 - 2.4% 29 27 - 6.9%

All Bedroom Counts 7,425 6,884 - 7.3% 6,640 6,276 - 5.5% 785 608 - 22.5%



Months Supply of Inventory 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.

13.1 13.5

11.612.4

16.7

8.6

10.79.6 9.6

14.3

$100,000 and Below

$100,001 to $150,000

$150,001 to $200,000

$200,001 to $300,000

$300,001 and Above


17.8

13.211.8

12.7

9.9 9.5

2 Bedrooms or Less



- 34.2%

12.8

17.9

9.911.4



- 21.2% - 17.1% - 22.8% - 14.4% - 22.2% - 36.5%- 28.6% - 25.0% - 19.9%


$100,000 and Below 13.1 8.6 - 34.2% 12.2 8.4 - 31.4% 19.8 10.0 - 49.3%

$100,001 to $150,000 13.5 10.7 - 21.2% 13.1 10.3 - 21.4% 18.1 15.6 - 13.7%

$150,001 to $200,000 11.6 9.6 - 17.1% 11.4 9.7 - 14.8% 13.7 7.2 - 47.7%

$200,001 to $300,000 12.4 9.6 - 22.8% 12.2 9.5 - 22.4% 15.3 11.1 - 27.3%

$300,001 and Above 16.7 14.3 - 14.4% 16.5 14.1 - 14.4% 16.5 18.5 + 12.3%

All Price Ranges 13.2 10.0 - 23.7% 12.8 9.9 - 22.2% 17.9 11.4 - 36.5%


2 Bedrooms or Less 17.8 12.7 - 28.6% 17.1 14.0 - 18.3% 18.4 11.3 - 38.5%

3 Bedrooms 13.2 9.9 - 25.0% 13.1 9.9 - 24.7% 16.1 11.4 - 28.9%

4 Bedrooms or More 11.8 9.5 - 19.9% 11.8 9.5 - 19.6% 16.6 10.0 - 39.7%

All Bedroom Counts 13.2 10.0 - 23.7% 12.8 9.9 - 22.2% 17.9 11.4 - 36.5%



february, 2013 market report

Documents

sfr median sales price

rebounded sales price

strong sales

distress sales

closed sales sfr

sfr sales volume

median sales pricecondo

closed sales condo