Hilton head mmi(7)

Monthly Indicators

September 2014 Quick Facts

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

- 2.0%

Change inMedian Sales Price

Markets across the nation seem to be back on the recovery track after a brief pause. One of the more encouraging aspects of this renewed recovery is that new construction of single-family homes reached six-year highs in August, according to the U.S. Commerce Department. Consumers are also finding more listings in their search results than they have in years. Inventory is rising in many neighborhoods as higher prices have motivated more sellers to list

+ 1.4%

Change inInventory

- 9.2%

Change inClosed Sales

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higher prices have motivated more sellers to list.

New Listings in the Hilton Head region decreased 3.2 percent to 419. Pending Sales were down 4.6 percent to 288. Inventory levels rose 1.4 percent to 2,623 units.

Prices were a tad soft. The Median Sales Price decreased 2.0 percent to $240,000. Days on Market was up 6.7 percent to 112 days. Buyers felt empowered as Months Supply of Inventory was up 4.6 percent to 8.6 months.

The departure of investors from the scene should benefit first-time homebuyers, but student debt and sluggish wage growth have slowed that transition. The economy is growing, but it's growing at a slower pace than desired. Thankfully, inflation remains tame, partly enabling the Federal Reserve to keep rates low for longer, contrary to the forecasts of most economists.

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

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

Closed SalesPending SalesNew ListingsMarket Overview

Days On Market Until Sale

Market Overview

Key Metrics Historical Sparklines 9-2013 9-2014 + / – YTD 2013 YTD 2014 + / –

2,588 - 5.9%

105 112

433 419 - 3.2% 4,326

295 268 - 9.2% 2,750

New Listings

Pending Sales

Closed Sales

Days on Market Until Sale

- 0.1%

302 288 - 4.6% 2,971 2,861 - 3.7%

4,323

+ 6.7% 119 111 - 6.7%

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

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

Housing Affordability Index

Inventory of Homes for Sale

129

2,588

123 - 0.8%

--

$340,775 $344,255 + 1.0%

$245,000 $240,000

$338,314 $366,791 + 8.4%

95.5% 95.2%

Months Supplyof Homes for Sale

Median Sales Price

Average Sales Price

Percent of List Price Received

$255,000 $252,500

- 0.1%

- 1.0%

- 0.3% 95.4% 95.3%

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

124

--

-- --

--

--8.2

130 + 0.3%

+ 1.4%

+ 4.6%

2,623

8.6

- 2.0%

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

New Listings

MonthPrior Year

Current Year

+ / –

October 429 508 +18.4%

November 367 373 +1.6%

December 283 275 -2.8%

January 507 488 -3.7%

February 518 477 -7.9%

March 565 614 +8.7%

April 523 618 +18.2%

May 451 433 -4.0%

June 428 450 +5.1%

July 449 432 -3.8%

August 452 392 -13.3%

September 433 419 -3.2%

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

445 433 419

September

4,244 4,326 4,323

Year To Date

-0.1%-2.7% -3.2% +1.9%

12-Month Avg 450 457 +1.4%


2012 2013 2014

200

300

400

500

600

700

800

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

Historical New Listing Activity

2012 2013 2014

Pending Sales

MonthPrior Year

Current Year

+ / –

October 308 322 +4.5%

November 274 266 -2.9%

December 212 200 -5.7%

January 296 254 -14.2%

February 325 299 -8.0%

March 324 357 +10.2%

April 345 353 +2.3%

May 348 338 -2.9%

June 352 353 +0.3%

July 374 328 -12.3%

August 305 291 -4.6%

September 302 288 -4.6%

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

243

302288

September

2,620

2,9712,861

Year To Date

-3.7%+24.3% -4.6% +13.4%

12-Month Avg 314 304 -3.1%


2012 2013 2014

50

100

150

200

250

300

350

400

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

Historical Pending Sales Activity

2012 2013 2014

Closed Sales

MonthPrior Year

Current Year

+ / –

October 283 316 +11.7%

November 307 271 -11.7%

December 247 283 +14.6%

January 217 232 +6.9%

February 229 188 -17.9%

March 306 262 -14.4%

April 303 308 +1.7%

May 351 312 -11.1%

June 341 343 +0.6%

July 334 338 +1.2%

August 374 337 -9.9%

September 295 268 -9.2%

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

252

295

268

September

2,468

2,7502,588

Year To Date

-5.9%+17.1% -9.2% +11.4%

12-Month Avg 299 288 -3.1%


2012 2013 2014

50

100

150

200

250

300

350

400

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

Historical Closed Sales Activity

2012 2013 2014

Days on Market Until Sale

MonthPrior Year

Current Year

+ / –

October 130 117 -9.7%

November 122 124 +1.7%

December 115 95 -17.4%

January 127 107 -15.5%

February 124 112 -9.7%

March 121 118 -2.6%

April 121 105 -13.8%

May 122 108 -11.2%

June 118 109 -7.9%

July 125 103 -17.5%

August 111 126 +13.0%

September 105 112 +6.7%

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

121

105112

September

128119

111

Year To Date

-6.7%-13.2% +6.7% -7.4%

12-Month Avg 120 111 -7.1%


2012 2013 2014

80

90

100

110

120

130

140

150

160

170

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

Historical Days on Market Until Sale

2012 2013 2014

Median Sales Price

MonthPrior Year

Current Year

+ / –

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

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

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

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

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

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

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

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

June $252,500 $286,000 +13.3%

July $299,000 $248,000 -17.1%

August $260,964 $257,458 -1.3%

September $245,000 $240,000 -2.0%

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

$230,000$245,000 $240,000

September

$225,000

$255,000 $252,500

Year To Date

-1.0%+6.5% -2.0% +13.3%

12-Month Med $250,000 $251,750 +0.7%


2012 2013 2014

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

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

Historical Median Sales Price

2012 2013 2014

Average Sales Price

MonthPrior Year

Current Year

+ / –

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

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

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

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

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

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

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

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

June $337,647 $383,359 +13.5%

July $363,957 $326,936 -10.2%

August $348,269 $352,955 +1.3%

September $338,314 $366,791 +8.4%

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

$358,255$338,314

$366,791

September

$314,213$340,775 $344,255

Year To Date

+ 1.0%- 5.6% + 8.4% + 8.5%

12-Month Avg $336,389 $342,477 +1.8%


2012 2013 2014

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000

$650,000

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

Historical Average Sales Price

2012 2013 2014

Percent of List Price Received

MonthPrior Year

Current Year

+ / –

October 95.0% 95.6% +0.6%

November 95.5% 94.6% -0.9%

December 95.2% 95.0% -0.3%

January 95.1% 95.2% +0.2%

February 95.3% 95.2% -0.1%

March 96.1% 95.1% -1.1%

April 95.1% 96.0% +0.9%

May 95.8% 94.8% -1.1%

June 95.2% 95.7% +0.5%

July 95.1% 95.5% +0.5%

August 95.5% 94.8% -0.7%

September 95.5% 95.2% -0.3%

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% 95.5% 95.2%

September

94.4% 95.4% 95.3%

Year To Date

-0.1%+1.6% -0.3% +1.1%

12-Month Avg 95.4% 95.2% -0.1%


2012 2013 2014

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

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

Historical Percent of List Price Received

2012 2013 2014

Housing Affordability Index

MonthPrior Year

Current Year

+ / –

October 143 127 -11.3%

November 145 134 -7.5%

December 143 128 -10.4%

January 141 137 -3.0%

February 148 122 -17.8%

March 150 118 -21.2%

April 131 109 -16.4%

May 120 126 +4.6%

June 124 109 -12.0%

July 106 126 +19.3%

August 119 122 +2.0%

September 129 130 +0.3%

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

147

129 130

September150

124 123

Year To Date

-0.8%-11.9% +0.3% -17.2%

12-Month Avg 133 124 -6.1%


2012 2013 2014

40

60

80

100

120

140

160

180

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

Historical Housing Affordability Index

2012 2013 2014

Inventory of Homes for Sale

MonthPrior Year

Current Year

+ / –

October 2,838 2,600 -8.4%

November 2,773 2,550 -8.0%

December 2,612 2,450 -6.2%

January 2,648 2,528 -4.5%

February 2,710 2,587 -4.5%

March 2,812 2,723 -3.2%

April 2,857 2,848 -0.3%

May 2,807 2,800 -0.2%

June 2,732 2,736 +0.1%

July 2,653 2,693 +1.5%

August 2,639 2,648 +0.3%

September 2,588 2,623 +1.4%

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

2,8852,588 2,623

September

+1.4%-10.3%

12-Month Avg 2,722 2,649 -2.7%


2012 2013 2014

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

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

Historical Inventory of Homes for Sale

Months Supply of Inventory

MonthPrior Year

Current Year

+ / –

October 10.1 8.3 -18.2%

November 9.7 8.1 -16.5%

December 9.2 7.8 -14.8%

January 9.2 8.2 -10.9%

February 9.2 8.4 -8.7%

March 9.6 8.8 -8.2%

April 9.7 9.2 -5.8%

May 9.5 9.0 -4.6%

June 9.1 8.8 -3.0%

July 8.6 8.8 +2.4%

August 8.5 8.7 +1.5%

September 8.2 8.6 +4.6%

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.

10.5

8.2 8.6

September

+4.6%-21.3%

12-Month Avg 9.2 8.6 -7.2%


2012 2013 2014

0

5

10

15

20

25

30

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

Historical Months Supply of Inventory

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Hilton head mmi(7)