August, 2012 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

August 2012

Research powered by

SiteTech Systems

July’s sales momentum carried forward into August. August Single Family Residential (SFR) sales activity signaled continued recovery and stabilization. In August, SFR sales activity showed strength as sales was up from July and up 11.2% as compared to August, 2011. Year-to-date (YTD), SFR sales are up 13.4%. As sales remain strong, SFR inventory declined slightly and remains flat to its level from early summer. Compared to August 2011, SFR inventory is down 2% as the improved real estate sales environment may have gotten some to the ‘fence setters’ back into the market. Distressed sales continue to play a role in SFR sales as distressed sales represent 27.5% of all SFR sales. Another positive trend is the gradually improving SFR median sales price. During August, SFR median sales prices were up as compared to July and August, 2011. This improvement is driven by strong non-distressed sales prices. Year to date, SFR median sales prices are down 1.7% from it comparable 2011 level. Condo inventory continued its anticipated contraction as the inventory level has dropped for the fifth straight month. This drop is a 9% reduction versus August 2011 and is the lowest level since tracking began in 2010. Similar to SFR, Condo sales were up in August. August sales were better than July’s sales and 15.7% better than August 2011. Additionally, Condo median sales prices appear to have stabilize as August median sales price is up slightly from July and August, 2011. Year-to-date, Condo median sales prices are down 3.7% as compared to 2011. Residential lot activity continues to represent a small but improving (in terms of sales) component of the real estate market as residential lots remain competitively price.

Grand Strand Active Inventory

Single Family Residential

# Listings

Horry Co. 3,904

Georgetown Co. 821

Total 4,725

Average List Price $336,957

Median List Price $219,900

Condo/Townhome

# Listings

Horry Co. 4,018

Georgetown Co. 410

Total 4,428



Horry Co.

G’town Co.

Less than $150k 1,148 92

$150k - $250k 1,372 151

$250k - $500k 900 304

$500k - $1.0 MM 299 174

$1 MM + 95 100

Horry Co.

G’town Co.

Less than $100k 1,413 52

$100k - $150k 989 80

$150k - $200k 596 70

$200k - $400k 750 108

$400k -$750k 218 67

$750+ 52 33

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,910

Georgetown Co. 744

Total 2,654



Horry Co.

G’town Co.

Less than $25k 354 50

$25k - $50k 646 89

$50k - $75k 270 78

$75k-100k 197 95

$100k-175k 210 157

$175k -250k 103 123

$250k+ 130 152

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

August 2011 4,821

August 2012 4,725

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

# o

f Li

stin

gs

Grand Strand SFR Inventory

August 2011 831

August 2012 781

600

650

700

750

800

850

900

950

# o

f D

istr

ess

ed

Lis

tin

gs

Grand Strand Distressed SFR Listings

Grand Strand Condo Inventory Trends


August 2011 4,864

August 2012 4,428

4,0004,2004,4004,6004,8005,0005,2005,4005,6005,800

# o

f Li

stin

gs

Grand Strand Condo Inventory

August 2011 803

August 2012 686

600

650

700

750

800

850

900

950

1000

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

Jun

-12

Jul-

12

Au

g-1

2

# o

f D

istr

ess

ed

Grand Strand Distressed Condo Listings

Closed Sales - SFR

August Year to Date

August 2012397

100

200

300

400

500

600

Aug 05 Aug 06 Aug 07 Aug 08 Aug 09 Aug 10 Aug 11 Aug 12

Historical Activity


303357 397

2010 2011 2012

2,4102,499

2,833

2010 2011 2012

Average Sales Price - SFR August Year to Date

August 2012$221,603

$195,000

$225,000

$255,000

$285,000

$315,000

$345,000

$375,000


Historical Activity


$249,625

$212,369$221,603

2010 2011 2012

$232,711

$224,371

$218,134

2010 2011 2012

Median Sales Price - SFR August

$200,000

$170,500 $177,321

2010 2011 2012

Year to Date

August 2012$177,321

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000


Historical Activity


$184,414

$173,000$170,000

2010 2011 2012

Median Sales Price – SFR Distressed & Non-Distressed


$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000

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

Jun

-12

Jul-

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

Aug-10 Oct-10 Dec-10 Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 Apr-12 Jun-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%

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

Jun

-12

Jul 1

2

Au

g-1

2

% Cash

% Conventional

Sold to List Price Ratio - SFR

August

90%

88%

90%

2010 2011 2012

Year to Date

August 201290%

83

85

87

89

91

93

95

97

99

Aug 05 Aug 06 Aug 07 Aug 08 Aug 09 Aug 10 Aug 11 'Aug 12

Historical Activity


90%

88%

91%

2010 2011 2012

Closed Sales - Condo August

316

287

332

2010 2011 2012

Year to Date

Historical Activity

12

August 2012332

50

250

450

650

850

1050


Research performed by SiteTech Systems

2,366

2,466

2,619

2010 2011 2012

Average Sales Price - Condo August Year to Date

August 2012

$130,661

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000


Historical Activity


$146,210

$123,244

$130,661

2010 2011 2012

$150,282

$138,957 $135,286

2010 2011 2012

Median Sales Price - Condo August

$115,000

$103,000 $105,000

2010 2011 2012

Year to Date

August 2012$105,000

$75,000

$125,000

$175,000

$225,000

$275,000


Historical Activity


$120,000

$109,000 $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

$140,000

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

Jun

-12

Ju1

-12

Au

g-1

2

Non-Distressed

Distressed

Combined

Median Sales Price – Condo Cash & Conventional Transactions


$50,000

$70,000

$90,000

$110,000

$130,000

$150,000

$170,000

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

Jun

-12

Jul-

12

Au

g-1

2

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%A

ug-

10

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

Jun

-12

Jul-

12

Au

g-1

2

% Cash

% Conventional

Sold to List Price Ratio - Condo

August

86% 86%

88%

2010 2011 2012

Year to Date

August 2012

88%

75

80

85

90

95

100

105


Historical Activity


86% 86%

88%

2010 2011 2012

Closed Sales – Residential Lot

46

74

65

2010 2011 2012

Year to Date

August 2012

65

10

60

110

160

210

260

310


Historical Activity

19

August

Research performed by SiteTech Systems

389463

698

2010 2011 2012

Average Sales Price – Residential Lot August Year to Date

August 2012

$50,974

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000


Historical Activity


$83,677 $78,590

$50,974

2010 2011 2012

$78,525

$71,764

$67,115

2010 2011 2012

Median Sales Price – Residential Lot

August

$49,400

$35,000 $34,500

2010 2011 2012

Year to Date

August 2012

$34,500

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000


Historical Activity


$44,900

$35,950 $32,000

2010 2011 2012

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

August

$68,000$77,500

$31,750

2010 2011 2012

Year to Date

Historical Activity


$55,000$52,588

$46,000

2010 2011 2012

August 2012 $31,750

$-

$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

Apr12

Jul12

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

75%74%

70%

2010 2011 2012

August 201270%

40

50

60

70

80

90

100

110


Historical Activity


72%

75%

70%

2010 2011 2012

Grand Strand Distressed Inventory

Single Family Residential

# Listings

Horry Co. 695

Georgetown Co. 86

Total 781



Condo/Townhome

# Listings

Horry Co. 651

Georgetown Co. 35

Total 686



Horry Co.

G’town Co.


$150k - $250k 158 22

$250k - $500k 91 19

$500k - $1.0 MM 27 8

$1 MM + 3 2

Distribution by Price Range


Residential Lot # Listings

Horry Co. 311

Georgetown Co. 77

Total 388



Horry Co.

G’town Co.


$25k - $50k 88 18

$50k - $75k 34 10

$75k-100k 23 13

$100k-175k 20 15

$175k -250K 10 8

$250K + 7 4

Horry Co.

G’town Co.


$100k - $150k 104 7

$150k - $200k 73 5

$200k - $400k 70 3

$400k -$750k 11 6

$750+ - -

Distressed Sales Total

August Oct Dec Feb Apr June August

SFR


Condo



% Total Sales

29 28 32 33

30

37 32 33

28 28 29 29 29


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

August 2012 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

+ 10.2%Change in

Closed SalesSingle-Family Only

Click on desired metric to jump to that page.

As the school-aged among us work their way back into classrooms across America, we continue to monitor key improvements in the local housing market with a keener eye. With two-thirds of 2012 complete, we're starting to get a sense for how the year will shake out. Headlines include encouraging phrases like "Recovery Takes Hold," "Home Prices on the Rise" and "Situation Eases for Sellers." Local market conditions largely support this sentiment.

New Listings in the Coastal Carolinas region were up 2.8 percent for detached homes but decreased 12.5 percent for condos. Pending Sales increased 57.9 percent for single-family homes and 30.1 percent for condos.

The Median Sales Price was up 2.3 percent to $166,550 for single-family properties and 5.1 percent to $105,000 for condo units. Months Supply of Inventory decreased 28.6 percent for single-family units and 25.4 percent for townhouse-condo units.

With election season in full swing, both politicians and economists will place extra emphasis on jobs and unemployment figures. Recognizing the relationship between jobs and housing demand, the most tuned-in agents and brokers will do the same. The truth is, the economy is and has been expanding consistently for years, albeit at a disjointed pace. There's reason for optimism going into the last third of 2012 and even into 2013, and housing is actually playing a large role in that positive outlook.

+ 14.6%Change in

Closed SalesCondo Only

+ 12.1%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 8-2011 8-2012 + / – YTD 2011 YTD 2012 + / –

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

13.8

151 + 8.0%

- 15.1%

- 28.6%

3,965

9.8

140

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

$165,000 $162,000

+ 0.9%

- 1.3% 178 176 - 1.2%

- 1.8%

+ 0.7% 94.3% 95.1%

+ 6.6%

+ 2.3%

+ 0.2%

356 562 + 57.9% 2,947 3,613 + 22.6%

5,974712 732 + 2.8% 5,963

391 431 + 10.2% 2,728

New Listings

Pending Sales

Closed Sales

94.0% 94.6%

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent ofList Price Received

$195,650

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

3,074 + 12.7%

140

4,671

174 172

151 + 8.0%

--

$208,712 $205,866 - 1.4%

$162,750 $166,550

$208,621

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

Condo Market Overview

Key Metrics Historical Sparklines 8-2011 8-2012 + / – YTD 2011 YTD 2012 + / –


--

Months Supplyof Homes for Sale

15.2 11.3 - 25.4% -- -- --

Inventory of Homes for Sale 4,548 3,701 - 18.6% -- --

+ 0.1%

Housing Affordability Index 215 227 + 22.8% 215 227 + 22.8%

Percent ofList Price Received

94.9% 93.8% - 1.2% 93.6% 93.7%

- 2.4%

Average Sales Price $123,658 $131,732 + 6.5% $138,950 $136,367 - 1.9%

Median Sales Price $99,950 $105,000 + 5.1% $106,950 $104,375

+ 5.4%

Days on Market Until Sale 176 171 - 3.0% 179 174 - 2.8%

Closed Sales 288 330 + 14.6% 2,480 2,615

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

- 6.7%

Pending Sales 329 428 + 30.1% 2,573 2,974 + 15.6%

New Listings 562 492 - 12.5% 5,031 4,692

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

8-2009 8-2010 8-2011 8-2012

New Listings

MonthSingle-Family

YoYChg.

CondoYoYChg.

September 606 - 14.3% 505 - 14.6%

October 636 - 5.2% 545 - 2.2%

November 606 - 1.5% 555 + 5.9%

December 455 - 8.1% 444 + 3.5%

January 762 - 0.5% 690 + 6.2%

February 701 - 9.0% 609 - 2.1%

March 805 - 10.8% 662 - 12.9%

April 740 0.0% 614 - 16.2%

May 805 + 16.8% 602 + 8.7%

June 742 + 1.0% 503 - 15.7%

July 687 + 5.9% 520 - 6.0%

August 732 + 2.8% 492 - 12.5%

Total 8,277 - 2.1% 6,870 - 5.5%


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

755

658

712

562

732

492

Single-Family Condo

August

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

-12.5% -14.6% +2.8% -5.7%

2012 2011 2010 2012 2011 2010

6,790

5,763 5,963

5,031

5,974

4,692

Single-Family Condo

Year to Date

-6.7% -12.7% +0.2% -12.2%

2012 2011 2010 2012 2011 2010

Pending Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

September 342 + 21.3% 265 - 9.6%

October 330 + 1.5% 261 - 15.8%

November 297 + 6.5% 235 - 4.1%

December 257 + 7.5% 191 + 7.9%

January 338 + 15.0% 309 + 14.0%

February 403 + 17.8% 337 + 1.2%

March 462 + 8.5% 399 + 0.5%

April 434 + 12.4% 430 + 14.7%

May 473 + 22.9% 369 + 16.4%

June 464 + 27.1% 358 + 27.9%

July 477 + 21.4% 344 + 26.9%

August 562 + 57.9% 428 + 30.1%

Total 4,839 + 18.8% 3,986 + 9.5%


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

325 324 356

329

562

428

Single-Family Condo

August

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

+30.1% +1.5% +57.9% +9.5%

2012 2011 2010 2012 2011 2010

2,756

2,463

2,947

2,573

3,613

2,974

Single-Family Condo

Year to Date

+15.6% +4.5% +22.6% +6.9%

2012 2011 2010 2012 2011 2010

Closed Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

September 353 + 9.6% 298 - 2.0%

October 342 + 18.8% 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 295 + 17.1% 270 + 13.0%

March 384 + 6.1% 353 - 6.9%

April 366 0.0% 352 - 5.4%

May 428 + 18.9% 403 + 14.2%

June 453 + 11.9% 391 + 10.1%

July 444 + 27.2% 306 + 7.7%

August 431 + 10.2% 330 + 14.6%

Total 4,428 + 12.9% 3,725 + 2.4%


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

330 315

391

288

431

330

Single-Family Condo

August

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

+14.6% -8.6% +10.2% +18.5%

2012 2011 2010 2012 2011 2010

2,630

2,369

2,728

2,480

3,074

2,615

Single-Family Condo

Year to Date

+5.4% +4.7% +12.7% +3.7%

2012 2011 2010 2012 2011 2010


MonthSingle-Family

YoYChg.

CondoYoYChg.

September 178 + 3.1% 196 + 13.8%

October 200 + 9.8% 195 + 8.2%

November 183 + 7.1% 169 - 7.7%

December 176 + 0.3% 165 - 10.7%

January 183 - 6.7% 183 - 1.9%

February 185 + 16.7% 184 + 5.0%

March 177 - 3.9% 167 - 2.5%

April 176 - 3.3% 170 - 0.8%

May 182 + 13.0% 170 - 9.2%

June 175 - 4.8% 184 + 0.1%

July 161 - 11.4% 169 - 8.8%

August 172 - 1.3% 171 - 3.0%

Total 178 + 0.7% 176 - 1.8%


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

160

174 174 176 172 171

Single-Family Condo

August

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

-3.0% +1.5% -1.3% +9.0%

2012 2011 2010 2012 2011 2010

169 170 178 179 176 174

Single-Family Condo

Year to Date

-2.8% +5.3% -1.2% +5.1%

2012 2011 2010 2012 2011 2010

Median Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

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

October 167,487 - 8.9% 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 170,400 + 3.3% 95,000 - 5.0%

March 160,000 - 10.1% 104,000 - 5.4%

April 158,000 + 0.0% 115,000 + 15.0%

May 161,500 + 0.9% 105,000 - 4.5%

June 158,000 - 11.2% 110,000 - 6.4%

July 167,000 + 2.9% 95,000 - 13.6%

August 166,550 + 2.3% 105,000 + 5.1%

Median 162,885 - 2.5% 106,000 - 4.9%


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

$194,990

$115,000

$162,750

$99,950

$166,550

$105,000

Single-Family Condo

August

$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

+5.1% -13.1% +2.3% -16.5%

2012 2011 2010 2012 2011 2010

$175,000

$119,900

$165,000

$106,950

$162,000

$104,375

Single-Family Condo

Year to Date

-2.4% -10.8% -1.8% -5.7%

2012 2011 2010 2012 2011 2010

Average Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

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

October 220,063 - 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% 123,343 - 14.1%

February 205,042 - 1.9% 129,473 + 3.1%

March 210,924 - 8.8% 130,685 - 9.1%

April 193,770 - 7.4% 143,400 + 10.4%

May 200,975 + 2.3% 144,324 - 3.4%

June 215,154 - 4.5% 143,178 - 2.4%

July 206,199 + 1.3% 135,614 - 6.6%

August 208,621 + 6.6% 131,732 + 6.5%

Average 189,507 - 3.1% 137,082 - 2.8%


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

$235,887

$147,585

$195,650

$123,658

$208,621

$131,732

Single-Family Condo

August

$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

+ 6.5% - 16.2% + 6.6% - 17.1%

2012 2011 2010 2012 2011 2010

$218,339

$150,143

$208,712

$138,950

$205,866

$136,367

Single-Family Condo

Year to Date

- 1.9% - 7.5% - 1.4% - 4.4%

2012 2011 2010 2012 2011 2010

Percent of List Price Received

MonthSingle-Family

YoYChg.

CondoYoYChg.

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% 92.6% - 1.8%

February 95.3% + 0.8% 93.3% - 0.4%

March 94.6% - 0.7% 92.9% - 0.6%

April 95.0% + 1.2% 94.7% + 0.9%

May 95.3% + 1.5% 93.7% - 0.1%

June 96.1% + 1.9% 93.9% + 0.6%

July 94.8% + 0.6% 94.3% + 2.6%

August 94.6% + 0.7% 93.8% - 1.2%

Average 90.0% + 1.9% 88.1% + 1.4%


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% 93.5% 94.0% 94.9% 94.6% 93.8%

Single-Family Condo

August

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

-1.2% +1.5% +0.7% -0.6%

2012 2011 2010 2012 2011 2010

94.6% 94.0% 94.3% 93.6% 95.1% 93.7%

Single-Family Condo

Year to Date

+0.1% -0.4% +0.9% -0.4%

2012 2011 2010 2012 2011 2010

Housing Affordability Index

MonthSingle-Family

YoYChg.

CondoYoYChg.

September 140 + 15.7% 204 + 10.7%

October 140 + 2.0% 211 + 3.4%

November 147 + 9.5% 233 + 10.0%

December 144 + 12.3% 208 + 18.2%

January 148 + 3.2% 235 + 3.5%

February 144 + 6.2% 237 + 19.8%

March 151 + 8.9% 222 + 15.6%

April 152 + 21.0% 205 + 15.4%

May 150 + 10.3% 220 - 0.7%

June 155 + 8.4% 216 + 13.0%

July 150 + 20.0% 244 + 14.5%

August 151 + 8.0% 227 + 22.8%

Average 148 + 10.5% 222 + 12.2%

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.


121

194

140

215

151

227

Single-Family Condo

August

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

+22.8% +4.6% +8.0% +13.6%

2012 2011 2010 2012 2011 2010

121

194

140

215

151

227

Single-Family Condo

Year to Date

+22.8% +4.6% +8.0% +13.6%

2012 2011 2010 2012 2011 2010


MonthSingle-Family

YoYChg.

CondoYoYChg.

September 4,564 - 11.3% 4,470 - 13.4%

October 4,539 - 10.2% 4,433 - 11.0%

November 4,512 - 9.8% 4,446 - 9.4%

December 4,244 - 10.4% 4,291 - 8.8%

January 4,304 - 9.5% 4,356 - 6.8%

February 4,299 - 10.9% 4,366 - 6.8%

March 4,285 - 12.8% 4,321 - 8.3%

April 4,284 - 12.1% 4,181 - 12.0%

May 4,254 - 11.6% 4,134 - 12.4%

June 4,218 - 12.3% 3,992 - 15.0%

July 4,099 - 13.0% 3,894 - 16.0%

August 3,965 - 15.1% 3,701 - 18.6%

Average 3,173 - 16.5% 3,783 - 18.2%


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

5,225 5,304

4,671 4,548

3,965 3,701

Single-Family Condo

August

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

-18.6% -14.3% -15.1% -10.6%

2012 2011 2010 2012 2011 2010


MonthSingle-Family

YoYChg.

CondoYoYChg.

September 13.3 - 16.6% 15 - 16.5%

October 13.2 - 16.1% 15.1 - 12.6%

November 13.0 - 15.6% 15.2 - 9.7%

December 12.2 - 16.7% 14.6 - 9.8%

January 12.2 - 16.8% 14.7 - 9.2%

February 12.1 - 19.0% 14.7 - 7.4%

March 11.9 - 20.6% 14.5 - 7.5%

April 11.8 - 22.5% 13.8 - 12.5%

May 11.5 - 21.9% 13.5 - 13.4%

June 11.1 - 23.5% 12.8 - 18.6%

July 10.6 - 24.1% 12.2 - 21.1%

August 9.8 - 28.6% 11.3 - 25.4%

Average 9.0 - 29.1% 11.4 - 25.3%


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.

15.9

18.4

13.8 15.2

9.8 11.3

Single-Family Condo

August

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

-25.4% -17.7% -28.6% -13.5%

2012 2011 2010 2012 2011 2010

August 2012 Quick Facts

$250,001 to $300,000 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

+ 13.3% + 11.5%As the school-aged among us meander back into classrooms across the country, the rest of us continue to monitor key developments in local real estate. For the 12-month period spanning September 2011 through August 2012, Closed Sales in the Coastal Carolinas region were up 7.8 percent overall. The price range with the largest gain in sales was the $250,001 to $300,000 range, where they increased 13.3 percent.

The overall Median Sales Price was down 2.4 percent to $138,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 2.5 percent to $162,885. The price range that tended to sell the quickest was the $150,000 and Below range at 165 days; the price range that tended to sell the slowest was the $300,001 and Above range at 214 days.

Market-wide, inventory levels were down 16.8 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 15.1 percent. That amounts to 9.8 months supply for Single-Family homes and 11.3 months supply for Condos.

+ 11.1%

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 8-2011 8-2012 Change 8-2011 8-2012 Change 8-2011 8-2012 Change

$150,000 and Below 3,882 4,341 + 11.8% 1,518 1,867 + 23.0% 2,364 2,474 + 4.7%

$150,001 to $200,000 1,350 1,400 + 3.7% 835 902 + 8.0% 515 498 - 3.3%

$200,001 to $250,000 809 806 - 0.4% 545 535 - 1.8% 264 271 + 2.7%

$250,001 to $300,000 527 597 + 13.3% 354 420 + 18.6% 173 177 + 2.3%

$300,001 and Above 953 960 + 0.7% 670 704 + 5.1% 283 256 - 9.5%

All Price Ranges 7,521 8,104 + 7.8% 3,465 3,862 + 11.5% 3,427 3,470 + 1.3%

By Bedroom Count 8-2011 8-2012 Change 8-2011 8-2012 Change 8-2011 8-2012 Change

2 Bedrooms or Less 2,259 2,396 + 6.1% 235 299 + 27.2% 2,024 2,097 + 3.6%

3 Bedrooms 3,717 4,025 + 8.3% 2,527 2,842 + 12.5% 1,190 1,183 - 0.6%

4 Bedrooms or More 1,278 1,420 + 11.1% 1,160 1,287 + 10.9% 118 133 + 12.7%

All Bedroom Counts 7,521 8,104 + 7.8% 3,465 3,862 + 11.5% 3,427 3,470 + 1.3%

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


All Properties Single-Family Homes Condos

3,882

1,350

809 527

953

4,341

1,400

806 597

960

$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 8-2011 8-2012

2,259

3,717

1,278

2,396

4,025

1,420

2 Bedrooms or Less

3 Bedrooms 4 Bedrooms or More

By Bedroom Count 8-2011 8-2012

+ 11.8%

3,465 3,427

3,862

3,470

Single-Family Homes Condos

By Property Type 8-2011 8-2012

+ 3.7% - 0.4% + 13.3% + 0.7% + 11.5% + 1.3% + 6.1% + 8.3% + 11.1%



$150,000 and Below 168 165 - 2.0% 166 166 + 0.3% 170 164 - 3.6%

$150,001 to $200,000 181 183 + 1.1% 172 171 - 1.0% 196 206 + 5.2%

$200,001 to $250,000 176 186 + 5.7% 166 183 + 9.8% 195 192 - 1.6%

$250,001 to $300,000 191 199 + 4.0% 176 198 + 12.2% 224 201 - 10.4%

$300,001 and Above 215 214 - 0.4% 223 211 - 5.5% 194 224 + 15.7%

All Price Ranges 178 177 - 0.4% 177 178 + 0.7% 179 176 - 1.6%


2 Bedrooms or Less 176 172 - 2.2% 174 178 + 2.3% 177 172 - 2.8%

3 Bedrooms 174 175 + 0.7% 170 172 + 1.4% 184 183 - 0.1%

4 Bedrooms or More 195 195 - 0.0% 194 192 - 0.8% 208 222 + 6.7%

All Bedroom Counts 178 177 - 0.4% 177 178 + 0.7% 179 176 - 1.6%

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



168 181 176

191

215

165 183 186

199 214

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


176 174

195

172 175

195

2 Bedrooms or Less



- 2.0%

177

179

178

176



+ 1.1% + 5.7% + 4.0% - 0.4% + 0.7% - 1.6% - 2.2% + 0.7% - 0.0%

Median Sales Price


2 Bedrooms or Less $97,000 $89,500 - 7.7% $100,000 $95,000 - 5.0% $96,000 $88,900 - 7.4%

3 Bedrooms $152,500 $149,995 - 1.6% $152,000 $148,000 - 2.6% $155,000 $157,500 + 1.6%

4 Bedrooms or More $257,262 $255,000 - 0.9% $255,000 $250,000 - 2.0% $283,000 $322,000 + 13.8%

All Bedroom Counts $141,400 $138,000 - 2.4% $167,000 $162,885 - 2.5% $110,250 $105,000 - 4.8%

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



$97,000

$152,500

$257,262

$89,500

$149,995

$255,000

2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More


$141,400

$167,000

$110,250

$138,000

$162,885

$105,000



- 2.5% - 4.8% - 7.7% - 1.6% - 2.4% - 0.9%

Percent of List Price Received


$150,000 and Below 93.4% 93.7% + 0.3% 93.5% 94.1% + 0.6% 93.3% 93.3% 0.0%

$150,001 to $200,000 95.1% 95.4% + 0.3% 95.7% 96.2% + 0.5% 94.2% 94.1% - 0.1%

$200,001 to $250,000 94.9% 95.1% + 0.2% 95.6% 96.1% + 0.5% 93.7% 93.3% - 0.4%

$250,001 to $300,000 95.0% 95.7% + 0.7% 96.0% 96.1% + 0.1% 92.7% 94.5% + 1.9%

$300,001 and Above 93.2% 94.0% + 0.9% 92.6% 94.0% + 1.5% 94.5% 93.9% - 0.6%

All Price Ranges 93.9% 94.3% + 0.4% 94.3% 94.9% + 0.6% 93.5% 93.5% 0.0%


2 Bedrooms or Less 93.1% 93.0% - 0.1% 92.0% 91.6% - 0.4% 93.3% 93.2% - 0.1%

3 Bedrooms 94.5% 95.0% + 0.5% 94.9% 95.4% + 0.5% 93.9% 94.0% + 0.1%

4 Bedrooms or More 93.6% 94.4% + 0.9% 93.6% 94.5% + 1.0% 93.8% 93.9% + 0.1%

All Bedroom Counts 93.9% 94.3% + 0.4% 94.3% 94.9% + 0.6% 93.5% 93.5% 0.0%

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.



93.4%

95.1% 94.9% 95.0%

93.2%

93.7%

95.4% 95.1%

95.7%

94.0%

$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%

94.5%

93.6%

93.0%

95.0%

94.4%

2 Bedrooms or Less



+ 0.3%

94.3%

93.5%

94.9%

93.5%



+ 0.3% + 0.2% + 0.7% + 0.9% + 0.6% 0.0% - 0.1% + 0.5% + 0.9%



$150,000 and Below 3,883 3,153 - 18.8% 1,425 1,105 - 22.5% 2,458 2,048 - 16.7%

$150,001 to $200,000 1,448 1,228 - 15.2% 791 690 - 12.8% 657 538 - 18.1%

$200,001 to $250,000 986 816 - 17.2% 582 511 - 12.2% 404 305 - 24.5%

$250,001 to $300,000 759 607 - 20.0% 471 384 - 18.5% 288 223 - 22.6%

$300,001 and Above 2,143 1,862 - 13.1% 1,402 1,275 - 9.1% 741 587 - 20.8%

All Price Ranges 9,219 7,666 - 16.8% 4,671 3,965 - 15.1% 4,548 3,701 - 18.6%


2 Bedrooms or Less 2,904 2,394 - 17.6% 307 241 - 21.5% 2,597 2,153 - 17.1%

3 Bedrooms 4,084 3,365 - 17.6% 2,639 2,220 - 15.9% 1,445 1,145 - 20.8%

4 Bedrooms or More 1,967 1,694 - 13.9% 1,724 1,503 - 12.8% 243 191 - 21.4%

All Bedroom Counts 9,219 7,666 - 16.8% 4,671 3,965 - 15.1% 4,548 3,701 - 18.6%

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



3,883

1,448

986 759

2,143

3,153

1,228

816 607

1,862

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


2,904

4,084

1,967

2,394

3,365

1,694

2 Bedrooms or Less



- 18.8%

4,671 4,548

3,965 3,701



- 15.2% - 17.2% - 20.0% - 13.1% - 15.1% - 18.6% - 17.6% - 17.6% - 13.9%



$150,000 and Below 11.7 8.0 - 32.1% 10.8 6.4 - 41.0% 12.4 9.2 - 25.4%

$150,001 to $200,000 12.5 9.8 - 21.6% 10.9 8.6 - 21.3% 15.2 12.0 - 20.9%

$200,001 to $250,000 14.7 11.3 - 23.0% 12.8 10.6 - 16.8% 18.7 12.7 - 32.3%

$250,001 to $300,000 17.0 11.7 - 31.0% 15.3 10.4 - 31.8% 20.9 15.0 - 28.2%

$300,001 and Above 26.5 21.7 - 18.2% 24.0 19.7 - 17.6% 33.2 27.6 - 16.7%

All Price Ranges 14.4 10.5 - 27.2% 13.8 9.8 - 28.6% 15.2 11.3 - 25.4%


2 Bedrooms or Less 15.4 11.2 - 26.9% 16.0 8.9 - 44.6% 15.3 11.6 - 24.3%

3 Bedrooms 12.9 9.2 - 28.8% 12.1 8.5 - 29.3% 14.7 10.7 - 27.1%

4 Bedrooms or More 17.6 13.3 - 24.3% 16.9 12.9 - 23.6% 24.3 17.2 - 29.1%

All Bedroom Counts 14.4 10.5 - 27.2% 13.8 9.8 - 28.6% 15.2 11.3 - 25.4%

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.



11.7 12.5 14.7

17.0

26.5

8.0 9.8

11.3 11.7

21.7

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


15.4

12.9

17.6

11.2

9.2

13.3

2 Bedrooms or Less



- 32.1%

13.8

15.2

9.8

11.3



- 21.6% - 23.0% - 31.0% - 18.2% - 28.6% - 25.4% - 26.9% - 28.8% - 24.3%

August, 2012 Market Report

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