May 2012 Market Reports

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

May 2012 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

+ 12.5%Change in

Closed SalesSingle-Family Only

Click on desired metric to jump to that page.

Spring has brought both change and clarity to our local market. Some sellers are seeing competing bids on their properties which have lead to modest price gains. Buyers have fewer options from which to choose in many submarkets. Headlines and sound bites can often mask regional variability. With fewer distressed properties selling, prices are effectively “melting up” due to less downward pressure. May looked pretty good all around.

New Listings in the Coastal Carolinas region were up 14.9 percent for detached homes and 6.9 percent for condos. Pending Sales increased 42.1 percent for single-family homes and 31.5 percent for condos.

The Median Sales Price was up 0.6 percent to $161,000 for single-family properties but decreased 3.6 percent to $106,000 for condo units. Months Supply of Inventory decreased 26.6 percent for single-family units and 18.5 percent for townhouse-condo units.

In economic news, May's jobs report was disappointing, and there's a growing concern about the pace of domestic growth. Last month was also unsettling for investors, prompting some to hunt for better returns in the housing market. This forces other consumers up the price ladder. In politics, the Senate approved a 60-day National Flood Insurance Program extension. But with campaign season upon us, major housing-related bills or policy shifts are unlikely.

+ 9.9%Change in

Closed SalesCondo Only

+ 11.2%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 5-2011 5-2012 + / – YTD 2011 YTD 2012 + / –

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

1,716 + 8.3%

138

4,810

161 185

154 + 11.5%

--

$208,978 $202,997 - 2.9%

$160,000 $161,000

$201,515

93.9% 95.2%

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent ofList Price Received

$196,421

360 405 + 12.5% 1,584

New Listings

Pending Sales

Closed Sales

- 2.2%

385 547 + 42.1% 1,836 2,212 + 20.5%

3,781689 792 + 14.9% 3,868

$161,770 $161,000

+ 0.8%

+ 15.0% 176 181 + 2.9%

- 0.5%

+ 1.4% 94.3% 95.1%

+ 2.6%

+ 0.6%

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

14.7

154 + 11.5%

- 15.2%

- 26.6%

4,077

10.8

138

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

Condo Market Overview

Key Metrics Historical Sparklines 5-2011 5-2012 + / – YTD 2011 YTD 2012 + / –

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

- 4.6%

Pending Sales 317 417 + 31.5% 1,692 1,945 + 15.0%

New Listings 554 592 + 6.9% 3,320 3,166

+ 0.9%

Days on Market Until Sale 187 171 - 8.7% 178 174 - 2.1%

Closed Sales 353 388 + 9.9% 1,553 1,567

- 0.1%

Average Sales Price $149,441 $145,596 - 2.6% $138,877 $136,260 - 1.9%

Median Sales Price $110,000 $106,000 - 3.6% $105,000 $104,900

- 0.2%

Housing Affordability Index 195 224 + 0.6% 195 224 + 0.6%

Percent ofList Price Received

93.8% 93.7% - 0.1% 93.8% 93.6%


--

Months Supplyof Homes for Sale

15.6 12.7 - 18.5% -- -- --

Inventory of Homes for Sale 4,720 3,999 - 15.3% -- --

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

5-2009 5-2010 5-2011 5-2012

New Listings

MonthSingle-Family

YoYChg.

CondoYoYChg.

June 735 - 7.7% 597 - 10.0%

July 649 - 18.7% 551 - 6.1%

August 715 - 5.3% 562 - 14.6%

September 607 - 14.1% 508 - 14.0%

October 636 - 4.9% 545 - 2.3%

November 603 - 2.0% 551 + 5.2%

December 454 - 8.5% 443 + 2.8%

January 758 - 1.2% 693 + 6.6%

February 698 - 9.4% 610 - 2.1%

March 800 - 11.3% 663 - 12.6%

April 733 - 0.9% 608 - 17.2%

May 792 + 14.9% 592 + 6.9%

Total 8,180 - 6.0% 7,058 - 5.6%


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

807

650 689

554

792

592

Single-Family Condo

May

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

+6.9% -14.8% +14.9% -14.6%

2012 2011 2010 2012 2011 2010

4,448

3,855 3,868

3,320

3,781

3,166

Single-Family Condo

Year to Date

-4.6% -13.9% -2.2% -13.0%

2012 2011 2010 2012 2011 2010

Pending Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

June 365 + 11.6% 279 - 12.3%

July 391 + 23.0% 272 0.0%

August 361 + 10.7% 330 + 1.9%

September 345 + 22.3% 263 - 10.2%

October 326 0.0% 264 - 14.8%

November 294 + 5.4% 232 - 5.3%

December 248 + 3.8% 189 + 6.8%

January 331 + 12.6% 320 + 18.1%

February 400 + 16.3% 346 + 4.2%

March 474 + 11.0% 414 + 4.3%

April 460 + 19.2% 448 + 19.5%

May 547 + 42.1% 417 + 31.5%

Total 4,542 + 15.5% 3,826 + 4.2%


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

300 291

385

317

547

417

Single-Family Condo

May

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

+31.5% +8.9% +42.1% +28.3%

2012 2011 2010 2012 2011 2010

1,787

1,549

1,836 1,692

2,212

1,945

Single-Family Condo

Year to Date

+15.0% +9.2% +20.5% +2.7%

2012 2011 2010 2012 2011 2010

Closed Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

June 405 - 11.6% 355 + 6.6%

July 349 + 10.8% 284 0.0%

August 390 + 18.2% 288 - 8.6%

September 353 + 9.6% 298 - 2.0%

October 341 + 18.0% 265 - 2.9%

November 336 + 31.8% 239 - 4.4%

December 323 - 1.8% 259 - 11.3%

January 273 + 12.3% 210 0.0%

February 293 + 16.3% 270 + 13.0%

March 382 + 5.2% 350 - 7.7%

April 363 - 0.8% 349 - 6.2%

May 405 + 12.5% 388 + 9.9%

Total 4,213 + 8.5% 3,597 - 1.4%


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

384

327

360 353

405 388

Single-Family Condo

May

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

+9.9% +8.0% +12.5% -6.3%

2012 2011 2010 2012 2011 2010

1,527 1,437

1,584 1,553

1,716

1,567

Single-Family Condo

Year to Date

+0.9% +8.1% +8.3% +3.7%

2012 2011 2010 2012 2011 2010


MonthSingle-Family

YoYChg.

CondoYoYChg.

June 184 + 13.9% 183 + 2.2%

July 182 + 7.8% 185 + 8.9%

August 174 + 8.8% 176 + 1.5%

September 178 + 3.1% 196 + 13.8%

October 200 + 10.0% 195 + 8.2%

November 183 + 7.1% 169 - 7.7%

December 176 + 0.3% 165 - 10.7%

January 183 - 6.7% 183 - 2.1%

February 186 + 17.1% 184 + 5.0%

March 177 - 4.2% 167 - 2.2%

April 176 - 3.0% 171 - 0.4%

May 185 + 15.0% 171 - 8.7%

Total 182 + 5.6% 178 + 0.2%


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

162 164 161

187 185

171

Single-Family Condo

May

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

-8.7% +13.8% +15.0% -0.4%

2012 2011 2010 2012 2011 2010

173 167

176 178 181 174

Single-Family Condo

Year to Date

-2.1% +6.2% +2.9% +1.6%

2012 2011 2010 2012 2011 2010

Median Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

June 178,000 + 8.3% 117,500 - 4.9%

July 162,250 - 13.1% 110,000 - 4.3%

August 163,000 - 16.4% 99,950 - 13.1%

September 164,250 - 3.4% 108,750 - 5.4%

October 167,498 - 9.2% 105,000 - 10.3%

November 157,500 - 12.9% 92,000 - 20.0%

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

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

February 170,500 + 3.3% 95,000 - 5.0%

March 160,000 - 10.6% 104,500 - 5.0%

April 159,000 + 0.7% 115,500 + 15.5%

May 161,000 + 0.6% 106,000 - 3.6%

Median 164,000 - 3.5% 108,000 - 6.1%


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

$166,500

$121,000

$160,000

$110,000

$161,000

$106,000

Single-Family Condo

May

$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

-3.6% -9.1% +0.6% -3.9%

2012 2011 2010 2012 2011 2010

$172,900

$120,000

$161,770

$105,000

$161,000

$104,900

Single-Family Condo

Year to Date

-0.1% -12.5% -0.5% -6.4%

2012 2011 2010 2012 2011 2010

Average Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

June 225,291 + 6.5% 146,627 - 1.1%

July 203,465 - 6.1% 145,251 - 8.6%

August 195,946 - 16.9% 123,658 - 16.2%

September 207,648 - 1.7% 137,638 + 0.3%

October 220,292 + 0.0% 154,308 + 1.9%

November 205,868 - 11.5% 132,004 - 17.3%

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

January 203,310 + 5.2% 123,429 - 14.0%

February 205,635 - 1.6% 129,473 + 3.1%

March 210,484 - 9.1% 131,147 - 8.8%

April 194,523 - 7.0% 143,895 + 10.8%

May 201,515 + 2.6% 145,596 - 2.6%

Average 191,856 - 2.5% 137,779 - 4.5%


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

$220,657

$148,742

$196,421

$149,441

$201,515

$145,596

Single-Family Condo

May

$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

- 2.6% + 0.5% + 2.6% - 11.0%

2012 2011 2010 2012 2011 2010

$216,837

$149,408

$208,978

$138,877

$202,997

$136,260

Single-Family Condo

Year to Date

- 1.9% - 7.0% - 2.9% - 3.6%

2012 2011 2010 2012 2011 2010

Percent of List Price Received

MonthSingle-Family

YoYChg.

CondoYoYChg.

June 94.4% - 0.4% 93.3% - 0.2%

July 94.3% - 0.6% 91.9% - 2.6%

August 94.0% - 0.6% 94.9% + 1.5%

September 94.7% + 0.1% 93.2% + 0.4%

October 94.2% - 0.8% 92.0% - 1.5%

November 94.2% + 0.3% 93.7% + 1.1%

December 94.1% - 0.2% 93.2% - 0.5%

January 95.5% + 1.6% 92.7% - 1.7%

February 95.3% + 0.8% 93.3% - 0.4%

March 94.6% - 0.7% 93.0% - 0.5%

April 95.0% + 1.2% 94.7% + 0.9%

May 95.2% + 1.4% 93.7% - 0.1%

Average 89.3% + 0.7% 87.8% + 1.0%


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

95.3% 94.3% 93.9% 93.8% 95.2% 93.7%

Single-Family Condo

May

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

-0.1% -0.5% +1.4% -1.5%

2012 2011 2010 2012 2011 2010

94.6% 94.2% 94.3% 93.8% 95.1% 93.6%

Single-Family Condo

Year to Date

-0.2% -0.4% +0.8% -0.3%

2012 2011 2010 2012 2011 2010

Housing Affordability Index

MonthSingle-Family

YoYChg.

CondoYoYChg.

June 128 + 8.1% 187 + 12.6%

July 138 - 3.3% 196 + 7.4%

August 141 + 13.5% 216 + 4.5%

September 142 + 18.8% 206 + 13.7%

October 138 + 6.6% 210 + 8.0%

November 147 + 10.7% 232 + 10.9%

December 143 + 14.4% 208 + 20.4%

January 148 + 5.3% 235 + 5.6%

February 144 + 7.8% 238 + 21.6%

March 150 + 10.4% 220 + 17.2%

April 153 + 22.3% 207 + 15.7%

May 154 + 11.5% 224 + 0.6%

Average 144 + 10.5% 215 + 11.5%

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.


128

173

138

195

154

224

Single-Family Condo

May

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

+0.6% +17.5% +11.5% +7.5%

2012 2011 2010 2012 2011 2010

128

173

138

195

154

224

Single-Family Condo

Year to Date

+0.6% +17.5% +11.5% +7.5%

2012 2011 2010 2012 2011 2010


MonthSingle-Family

YoYChg.

CondoYoYChg.

June 4,804 - 9.3% 4,696 - 13.8%

July 4,707 - 11.1% 4,634 - 14.3%

August 4,662 - 10.8% 4,544 - 14.3%

September 4,552 - 11.6% 4,470 - 13.4%

October 4,528 - 10.5% 4,427 - 11.1%

November 4,497 - 10.1% 4,439 - 9.6%

December 4,233 - 10.6% 4,283 - 9.0%

January 4,290 - 9.8% 4,338 - 7.2%

February 4,276 - 11.4% 4,339 - 7.4%

March 4,239 - 13.8% 4,273 - 9.4%

April 4,207 - 13.6% 4,109 - 13.5%

May 4,077 - 15.2% 3,999 - 15.3%

Average 3,273 - 15.8% 4,083 - 15.0%


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

5,334 5,566

4,810 4,720

4,077 3,999

Single-Family Condo

May

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

-15.3% -15.2% -15.2% -9.8%

2012 2011 2010 2012 2011 2010

Months Supply of Inventory

MonthSingle-Family

YoYChg.

CondoYoYChg.

June 14.5 - 9.6% 16 - 17.2%

July 14.0 - 12.8% 15.5 - 18.3%

August 13.7 - 13.8% 15.2 - 17.8%

September 13.2 - 17.0% 15.0 - 16.4%

October 13.1 - 16.3% 15.1 - 12.7%

November 13.0 - 15.8% 15.2 - 9.8%

December 12.2 - 16.7% 14.6 - 9.9%

January 12.2 - 16.8% 14.6 - 9.8%

February 12.0 - 18.9% 14.5 - 8.5%

March 11.8 - 21.2% 14.2 - 9.4%

April 11.5 - 24.1% 13.4 - 15.2%

May 10.8 - 26.6% 12.7 - 18.5%

Average 9.9 - 26.4% 12.8 - 18.4%


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.

16.3

19.7

14.7 15.6

10.8 12.7

Single-Family Condo

May

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

-18.5% -21.0% -26.6% -10.0%

2012 2011 2010 2012 2011 2010

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

May 2012

Research powered by SiteTech Systems

After a sluggish SFR and Condo sales performance in April, May’s performance marked a solid improvement. For the month, SFR sales surged 16.6% from April and 22.3% from May, 2011. Year to date, SFR sales are up 8.7% from 2011 levels. Consistent with prior levels, SFR Median Sales Price remains at $170,000. SFR inventory continues to seasonally increase, however the current inventory is down approximately 6% from 2011 levels. It is anticipated that the inventory has peaked and will begin declining in June. For the fourth consecutive month, condo sales activity improved and experienced one of its strongest months since 2007 with 383 sales. This performance is 9.4% better than May, 2011. Condo inventory continues to remain flat in 2012 and down 9.3% as compared to prior year levels. Sales continue to improve at the expense of Median Sales Price. Driven by cash transactions and distressed sales prices, the median sale price continues to hover around $106,000. Residential lot sales activity continues to improve as lot prices continue sell at historically low prices. YTD, there have been 442 lot sales, a 68% increase over 2011, with a median sales price of $32,000.

Grand Strand Active Inventory

Single Family Residential

# Listings

Horry Co. 3,921

Georgetown Co. 856

Total 4,777

Average List Price $339,456

Median List Price $220,900

Condo/Townhome

# Listings

Horry Co. 4,282

Georgetown Co. 434

Total 4,716



Horry Co.

G’town Co.

Less than $150k 1,148 104

$150k - $250k 1,376 151

$250k - $500k 1,002 323

$500k - $1.0 MM 298 173

$1 MM + 97 105

Horry Co.

G’town Co.

Less than $100k 1,448 63

$100k - $150k 1,097 85

$150k - $200k 613 76

$200k - $400k 819 114

$400k -$750k 250 64

$750+ 55 32

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,939

Georgetown Co. 751

Total 2,690



Horry Co.

G’town Co.

Less than $25k 358 51

$25k - $50k 640 93

$50k - $75k 295 76

$75k-100k 193 96

$100k-175k 198 147

$175k -250k 109 126

$250k+ 146 162

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

May 2011 880

May 2012 807

600

650

700

750

800

850

900

950

# o

f D

istr

ess

ed

Lis

tin

gs

Grand Strand Distressed SFR Listings

May 2011 5,087 May 2012

4,777

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

# o

f Li

stin

gs

Grand Strand SFR Inventory

Grand Strand Condo Inventory Trends


May 2011 889

May 2012 801

700

750

800

850

900

950

1000

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

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

# o

f D

istr

ess

ed

Grand Strand Distressed Condo Listings

May 2011 5,198

May 2012 4,716

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

5,800

6,000

# o

f Li

stin

gs

Grand Strand Condo Inventory

Closed Sales - SFR

May Year to Date

May 2012373

100

150

200

250

300

350

400

450

500

550

600

Jan 05 Jul 05 Jan 06 Jul 06 Jan 07 Jul 07 Jan 08 Jul 08 Jan 09 Jul 09 Jan 10 Jul 10 Jan 11 Jul 11 Jan 12

Historical Activity


356

320

373

2010 2011 2012

1,4041,455

1,582

2010 2011 2012

Average Sales Price - SFR May Year to Date

May 2012$211,146

$195,000

$225,000

$255,000

$285,000

$315,000

$345,000

$375,000


Historical Activity


$231,848

$218,507

$211,146

2010 2011 2012

$230,105$224,731

$215,225

2010 2011 2012

Median Sales Price - SFR May

$175,000 $174,000

$170,000

2010 2011 2012

Year to Date

May 2012$170,000

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000


Historical Activity


$180,000

$170,000 $169,900

2010 2011 2012

Median Sales Price – SFR Distressed & Non-Distressed


$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000Fe

b-1

0

Mar

-10

Ap

r-1

0

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

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

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

Feb-10 May-10 Aug-10 Nov-10 Feb-11 May-11 Aug-11 Nov-11 Feb-12 May 12

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%

Jan

-10

Feb

-10

Mar

-10

Ap

r-1

0

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

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

11

-Oct

11

-No

v

De

c-1

1

12

-Jan

12

-Fe

b

12

-Mar

Ap

r-1

2

May

-12

% Cash

% Conventional

Sold to List Price Ratio - SFR

May

90%

89%

91%

2010 2011 2012

Year to Date

May 201291%

83

85

87

89

91

93

95

97

99


Historical Activity


89%88%

90%

2010 2011 2012

Closed Sales - Condo May

327

350

383

2010 2011 2012

Year to Date

Historical Activity

12

May 2012383

50

250

450

650

850

1050


Research performed by SiteTech Systems

1,435

1,5411,561

2010 2011 2012

Average Sales Price - Condo May Year to Date

May 2012$145,017

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Jan 05 Jul 05 Jan 06 Jul 06 Jan 07 Jul 07 Jan 08 Jul 08 Jan 09 Jul 09 10-Jan 10-Jul 11-Jan 11-Jul Jan 12

Historical Activity


$149,155 $148,700

$145,017

2010 2011 2012

$149,876

$139,552

$135,146

2010 2011 2012

Median Sales Price - Condo May

$122,000

$110,000 $106,000

2010 2011 2012

Year to Date

May 2012$106,000

$75,000

$95,000

$115,000

$135,000

$155,000

$175,000

$195,000

$215,000

$235,000

$255,000

$275,000


Historical Activity


$120,000

$106,900 $105,000

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

$140,000Ja

n-1

0

Feb

-10

Mar

-10

Ap

r-1

0

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

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

Non-Distressed

Distressed

Combined

Median Sales Price – Condo Cash & Conventional Transactions


$50,000

$70,000

$90,000

$110,000

$130,000

$150,000

$170,000Ja

n-1

0

Feb

-10

Mar

-10

Ap

r-1

0

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

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

11

-Oct

11

-No

v

De

c-1

1

Jan

-12

12

-Fe

b

Mar

-12

Ap

r-1

2

May

-12

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%Ja

n-1

0

Feb

-10

Mar

-10

Ap

r-1

0

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

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

11

-Se

p

11

-Oct

11

-No

v

De

c-1

1

Jan

-12

12

-Fe

b

Mar

-12

Ap

r-1

2

May

-12

% Cash

% Conventional

Sold to List Price Ratio - Condo

May

87%86%

89%

2010 2011 2012

Year to Date

May 201289%

75

80

85

90

95

100

105


Historical Activity


85%

86%

88%

2010 2011 2012

Closed Sales – Residential Lot

5143

85

2010 2011 2012

Year to Date

May 201285

10

60

110

160

210

260

310


Historical Activity

19

May

Research performed by SiteTech Systems

237263

442

2010 2011 2012

Average Sales Price – Residential Lot May Year to Date

May 2012$59,060

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000


Historical Activity


$56,767

$88,812

$59,060

2010 2011 2012

$74,944 $78,182

$63,347

2010 2011 2012

Median Sales Price – Residential Lot

May

$30,000

$50,000

$26,175

2010 2011 2012

Year to Date

May 2012$26,175

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000


Historical Activity


$44,900

$38,000 $32,000

2010 2011 2012

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

May

$57,400

$72,000

$56,250

2010 2011 2012

Year to Date

Historical Activity


$59,000$56,550

$50,000

2010 2011 2012

May 2012 $56,250

$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

Jan10

Apr10

Jul10

Oct10

Jan11

Apr11

Jul11

Oct10

Jan12

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

76%

72%

69%

2010 2011 2012

May 201270%

40

50

60

70

80

90

100

110


Historical Activity


77%76%

70%

2010 2011 2012

Grand Strand Distressed Inventory

Single Family Residential

# Listings

Horry Co. 726

Georgetown Co. 81

Total 807



Condo/Townhome

# Listings

Horry Co. 767

Georgetown Co. 34

Total 801



Horry Co.

G’town Co.


$150k - $250k 179 18

$250k - $500k 89 17

$500k - $1.0 MM 26 9

$1 MM + 4 4

Distribution by Price Range


Residential Lot # Listings

Horry Co. 325

Georgetown Co. 74

Total 399



Horry Co.

G’town Co.


$25k - $50k 98 14

$50k - $75k 34 8

$75k-100k 17 17

$100k-175k 20 9

$175k -250K 9 12

$250K + 11 6

Horry Co.

G’town Co.


$100k - $150k 132 8

$150k - $200k 74 3

$200k - $400k 93 1

$400k -$750k 13 6

$750+ - -

Distressed Sales Total

116

210

159185

228219189191

170177161165170154157165213

180210

Nov Feb May August Nov Feb May

SFR

55

100

67 84

116 106

81 99

82 81 80 89 95

72 87

78

102

77

111


Condo


61

110 92 101

112 113 108 92 88 96

81 76 75 82 70

87

111 103 99


% Total Sales

26

37 38

44

34 34 29 29 30 29 28

32 33 30

37 32 33

28 28


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May 2012 Quick Facts

$150,000 and Below 4 Bedrooms or More

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

+ 9.2% + 7.6%We're nearly through the spring market. Did you blink and miss it? Important changes have taken place that will set the scene for the coming months and years. For the 12-month period spanning June 2011 through May 2012, Closed Sales in the Coastal Carolinas region were up 3.8 percent overall. The price range with the largest gain in sales was the $150,000 and Below range, where they increased 9.2 percent.

The overall Median Sales Price was down 4.8 percent to $138,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 3.5 percent to $164,000. The price range that tended to sell the quickest was the $150,000 and Below range at 168 days; the price range that tended to sell the slowest was the $300,001 and Above range at 216 days.

Market-wide, inventory levels were down 15.3 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 15.2 percent. That amounts to 10.8 months supply for Single-Family homes and 12.7 months supply for Condos.

+ 11.5%

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 5-2011 5-2012 Change 5-2011 5-2012 Change 5-2011 5-2012 Change

$150,000 and Below 3,789 4,136 + 9.2% 1,458 1,752 + 20.2% 2,331 2,384 + 2.3%

$150,001 to $200,000 1,331 1,331 0.0% 836 849 + 1.6% 495 482 - 2.6%

$200,001 to $250,000 814 810 - 0.5% 549 546 - 0.5% 265 264 - 0.4%

$250,001 to $300,000 544 572 + 5.1% 350 392 + 12.0% 194 180 - 7.2%

$300,001 and Above 1,008 919 - 8.8% 689 674 - 2.2% 319 245 - 23.2%

All Price Ranges 7,486 7,768 + 3.8% 3,439 3,702 + 7.6% 3,416 3,358 - 1.7%

By Bedroom Count 5-2011 5-2012 Change 5-2011 5-2012 Change 5-2011 5-2012 Change

2 Bedrooms or Less 2,251 2,303 + 2.3% 240 274 + 14.2% 2,011 2,029 + 0.9%

3 Bedrooms 3,736 3,796 + 1.6% 2,524 2,679 + 6.1% 1,212 1,117 - 7.8%

4 Bedrooms or More 1,248 1,392 + 11.5% 1,117 1,260 + 12.8% 131 132 + 0.8%

All Bedroom Counts 7,486 7,768 + 3.8% 3,439 3,702 + 7.6% 3,416 3,358 - 1.7%

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


All Properties Single-Family Homes Condos

3,789

1,331

814544

1,008

4,136

1,331

810572

919

$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 Range5-2011 5-2012

2,251

3,736

1,248

2,303

3,796

1,392

2 Bedrooms or Less

3 Bedrooms 4 Bedrooms or More

By Bedroom Count5-2011 5-2012

+ 9.2%

3,4393,416

3,702

3,358

Single-Family Homes Condos

By Property Type5-2011 5-2012

0.0% - 0.5% + 5.1% - 8.8% + 7.6% - 1.7%+ 2.3% + 1.6% + 11.5%



$150,000 and Below 166 168 + 1.0% 159 171 + 7.2% 171 166 - 3.0%

$150,001 to $200,000 174 192 + 10.2% 165 180 + 9.3% 190 213 + 12.4%

$200,001 to $250,000 176 182 + 3.6% 167 179 + 7.4% 196 189 - 3.4%

$250,001 to $300,000 178 199 + 12.0% 172 192 + 11.6% 190 220 + 15.9%

$300,001 and Above 211 216 + 2.3% 219 216 - 1.5% 192 217 + 12.8%

All Price Ranges 175 180 + 3.2% 172 182 + 5.6% 178 178 + 0.5%


2 Bedrooms or Less 174 175 + 0.3% 163 180 + 10.9% 175 174 - 0.9%

3 Bedrooms 169 179 + 5.7% 163 177 + 8.4% 181 183 + 1.0%

4 Bedrooms or More 195 196 + 0.6% 194 192 - 0.9% 199 228 + 14.7%

All Bedroom Counts 175 180 + 3.2% 172 182 + 5.6% 178 178 + 0.5%

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



166174 176 178

211

168

192182

199216

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


174

169

195

175

179

196

2 Bedrooms or Less



+ 1.0%

172

178

182

178



+ 10.2% + 3.6% + 12.0% + 2.3% + 5.6% + 0.5%+ 0.3% + 5.7% + 0.6%

Median Sales Price


2 Bedrooms or Less $97,500 $90,000 - 7.7% $109,000 $95,000 - 12.8% $96,000 $90,000 - 6.3%

3 Bedrooms $155,000 $150,000 - 3.2% $155,000 $148,693 - 4.1% $155,000 $157,475 + 1.6%

4 Bedrooms or More $266,995 $251,248 - 5.9% $261,990 $249,775 - 4.7% $290,000 $310,000 + 6.9%

All Bedroom Counts $145,000 $138,000 - 4.8% $170,000 $164,000 - 3.5% $114,000 $108,000 - 5.3%

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



$97,500

$155,000

$266,995

$90,000

$150,000

$251,248

2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More


$145,000

$170,000

$114,000

$138,000

$164,000

$108,000



- 3.5% - 5.3%- 7.7% - 3.2% - 4.8%- 5.9%

Percent of List Price Received


$150,000 and Below 93.5% 93.5% 0.0% 93.7% 93.8% + 0.1% 93.5% 93.2% - 0.3%

$150,001 to $200,000 95.2% 95.1% - 0.1% 95.9% 95.7% - 0.2% 94.0% 94.0% 0.0%

$200,001 to $250,000 94.9% 94.8% - 0.1% 95.6% 95.7% + 0.1% 93.5% 93.2% - 0.3%

$250,001 to $300,000 95.4% 95.2% - 0.2% 96.2% 96.0% - 0.2% 93.7% 93.3% - 0.4%

$300,001 and Above 93.1% 93.8% + 0.8% 92.7% 93.7% + 1.1% 94.0% 94.0% 0.0%

All Price Ranges 94.0% 94.0% 0.0% 94.5% 94.6% + 0.1% 93.6% 93.3% - 0.3%


2 Bedrooms or Less 93.1% 93.0% - 0.1% 91.9% 91.6% - 0.3% 93.3% 93.2% - 0.1%

3 Bedrooms 94.6% 94.7% + 0.1% 95.0% 95.1% + 0.1% 93.9% 93.8% - 0.1%

4 Bedrooms or More 93.8% 94.1% + 0.3% 93.9% 94.1% + 0.2% 93.6% 93.8% + 0.2%

All Bedroom Counts 94.0% 94.0% 0.0% 94.5% 94.6% + 0.1% 93.6% 93.3% - 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.



93.5%

95.2%94.9%

95.4%

93.1%

93.5%

95.1%94.8%

95.2%

93.8%

$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%

93.8%

93.0%

94.7%

94.1%

2 Bedrooms or Less



0.0%

94.5%

93.6%

94.6%

93.3%



- 0.1% - 0.1% - 0.2% + 0.8% + 0.1% - 0.3%- 0.1% + 0.1% + 0.3%



$150,000 and Below 4,028 3,381 - 16.1% 1,464 1,143 - 21.9% 2,564 2,238 - 12.7%

$150,001 to $200,000 1,579 1,257 - 20.4% 873 696 - 20.3% 706 561 - 20.5%

$200,001 to $250,000 955 863 - 9.6% 559 530 - 5.2% 396 333 - 15.9%

$250,001 to $300,000 775 639 - 17.5% 471 397 - 15.7% 304 242 - 20.4%

$300,001 and Above 2,193 1,936 - 11.7% 1,443 1,311 - 9.1% 750 625 - 16.7%

All Price Ranges 9,530 8,076 - 15.3% 4,810 4,077 - 15.2% 4,720 3,999 - 15.3%


2 Bedrooms or Less 3,010 2,572 - 14.6% 297 250 - 15.8% 2,713 2,322 - 14.4%

3 Bedrooms 4,212 3,576 - 15.1% 2,746 2,340 - 14.8% 1,466 1,236 - 15.7%

4 Bedrooms or More 2,011 1,685 - 16.2% 1,766 1,485 - 15.9% 245 200 - 18.4%

All Bedroom Counts 9,530 8,076 - 15.3% 4,810 4,077 - 15.2% 4,720 3,999 - 15.3%

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



4,028

1,579

955775

2,193

3,381

1,257

863639

1,936

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


3,010

4,212

2,011

2,572

3,576

1,685

2 Bedrooms or Less



- 16.1%

4,810 4,720

4,077 3,999



- 20.4% - 9.6% - 17.5% - 11.7% - 15.2% - 15.3%- 14.6% - 15.1% - 16.2%

Months Supply of Inventory


$150,000 and Below 12.6 9.1 - 28.3% 11.8 7.1 - 39.6% 13.2 10.5 - 20.1%

$150,001 to $200,000 14.1 10.5 - 25.3% 12.7 9.0 - 29.2% 16.3 13.3 - 18.0%

$200,001 to $250,000 14.2 12.4 - 12.2% 12.6 11.2 - 10.5% 17.3 15.0 - 13.4%

$250,001 to $300,000 16.7 12.7 - 24.4% 15.1 11.5 - 23.5% 20.2 15.0 - 25.3%

$300,001 and Above 25.5 23.9 - 6.2% 24.1 21.9 - 9.1% 28.6 29.5 + 3.3%

All Price Ranges 15.1 11.7 - 22.9% 14.7 10.8 - 26.6% 15.6 12.7 - 18.5%


2 Bedrooms or Less 16.0 12.6 - 21.5% 14.7 10.2 - 30.7% 16.2 12.9 - 20.3%

3 Bedrooms 13.4 10.5 - 21.5% 13.0 9.7 - 25.4% 14.2 12.5 - 12.0%

4 Bedrooms or More 18.7 13.5 - 27.9% 18.3 13.1 - 28.1% 22.8 17.1 - 24.8%

All Bedroom Counts 15.1 11.7 - 22.9% 14.7 10.8 - 26.6% 15.6 12.7 - 18.5%

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.



12.614.1 14.2

16.7

25.5

9.110.5

12.4 12.7

23.9

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


16.0

13.4

18.7

12.6

10.5

13.5

2 Bedrooms or Less



- 28.3%

14.715.6

10.8

12.7



- 25.3% - 12.2% - 24.4% - 6.2% - 26.6% - 18.5%- 21.5% - 21.5% - 27.9%

May 2012 Market Reports

Documents

housing market

singlefamily homes

local market

key market metrics

saleinventory of homes

detached homes

singlefamily units

singlefamily properties