Post on 31-Mar-2016
description
Monthly Indicators
May 2014 Quick Facts
A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS®
- 9.7%
Change inMedian Sales Price
Some have noted a slight pause in the housing recovery this year. The American Dream of homeownership is alive and well, but it must still contend with market fluctuations. Buyers need homes for sale if they're expected to buy said homes. They also need reliable financing, better jobs and stronger wage growth. The opportunities are out there. Now we need people to take advantage of them.
- 4.0%
Change inInventory
- 11.1%
Change inClosed Sales
23456789
101112
Click on desired metric to jump to that page.
New Listings in the Hilton Head region decreased 10.9 percent to 401. Pending Sales were down 4.9 percent to 331. Inventory levels shrank 4.0 percent to 2,687 units.
Prices weakened somewhat. The Median Sales Price decreased 9.7 percent to $249,000. Days on Market was down 11.2 percent to 108 days. Absorption rates improved as Months Supply of Inventory was down 9.0 percent to 8.6 months.
We've had a mixed bag of economic news lately. As expected, national GDP contracted slightly during Q1-2014, which most economists attribute to impermanent factors like the harsh winter. We've now had more than four straight years of monthly private sector job growth. It hasn't been extraordinary growth, but it sure beats mass layoffs. Buoyed by an improving sales mix, home prices continue their ascent despite erratic demand indicators. More inventory, more high-skilled job growth, and less economic and political uncertainty are still top priorities.
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 5-2013 5-2014 + / – YTD 2013 YTD 2014 + / –
1,302 - 7.4%
122 108
450 401 - 10.9% 2,559
351 312 - 11.1% 1,406
New Listings
Pending Sales
Closed Sales
Days on Market Until Sale
+ 0.4%
348 331 - 4.9% 1,638 1,625 - 0.8%
2,570
- 11.2% 123 110 - 10.6%
Key market metrics for the current month and year-to-date figures.
5-2011 5-2012 5-2013 5-2014
5-2011 5-2012 5-2013 5-2014
5-2011 5-2012 5-2013 5-2014
5-2011 5-2012 5-2013 5-2014
Housing Affordability Index
Inventory of Homes for Sale
120
2,798
125 - 5.5%
--
$334,561 $331,572 - 0.9%
$275,625 $249,000
$373,557 $326,511 - 12.6%
95.8% 94.8%
Months Supplyof Homes for Sale
Median Sales Price
Average Sales Price
Percent of List Price Received
$250,000 $250,000
- 0.3%
0.0%
- 1.1% 95.5% 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
133
--
-- --
--
--9.4
126 + 4.6%
- 4.0%
- 9.0%
2,687
8.6
- 9.7%
5-2011 5-2012 5-2013 5-2014
5-2011 5-2012 5-2013 5-2014
5-2011 5-2012 5-2013 5-2014
5-2011 5-2012 5-2013 5-2014
5-2011 5-2012 5-2013 5-2014
5-2011 5-2012 5-2013 5-2014
New Listings
MonthPrior Year
Current Year
+ / –
June 417 428 +2.6%
July 401 448 +11.7%
August 456 447 -2.0%
September 445 433 -2.7%
October 429 507 +18.2%
November 367 373 +1.6%
December 283 275 -2.8%
January 507 482 -4.9%
February 518 476 -8.1%
March 562 611 +8.7%
April 522 600 +14.9%
May 450 401 -10.9%
A count of the properties that have been newly listed on the market in a given month.
448 450
401
May
2,524 2,559 2,570
Year To Date
+0.4%+0.4% -10.9% +1.4%
12-Month Avg 446 457 +2.3%
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 | 3
2012 2013 2014
0
100
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
+ / –
June 303 354 +16.8%
July 273 373 +36.6%
August 307 308 +0.3%
September 243 304 +25.1%
October 308 322 +4.5%
November 274 266 -2.9%
December 212 201 -5.2%
January 296 257 -13.2%
February 325 302 -7.1%
March 324 368 +13.6%
April 345 367 +6.4%
May 348 331 -4.9%
A count of the properties on which contracts have been accepted in a given month.
315
348331
May
1,494
1,638 1,625
Year To Date
-0.8%+10.5% -4.9% +9.6%
12-Month Avg 297 313 +5.5%
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 | 4
2012 2013 2014
0
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
+ / –
June 346 341 -1.4%
July 279 334 +19.7%
August 304 374 +23.0%
September 252 295 +17.1%
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%
A count of the actual sales that have closed in a given month.
332351
312
May
1,2871,406
1,302
Year To Date
-7.4%+5.7% -11.1% +9.2%
12-Month Avg 285 293 +3.2%
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 | 5
2012 2013 2014
0
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
+ / –
June 125 118 -5.1%
July 124 125 +0.6%
August 110 111 +1.1%
September 121 105 -13.2%
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%
Average number of days between when a property is listed and when an offer is accepted in a given month.
129122
108
May
136
123
110
Year To Date
-10.6%-5.4% -11.2% -9.9%
12-Month Avg 122 112 -7.7%
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 | 6
2012 2013 2014
60
80
100
120
140
160
180
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
+ / –
June $230,000 $252,500 +9.8%
July $220,000 $299,000 +35.9%
August $212,500 $260,964 +22.8%
September $230,000 $245,000 +6.5%
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%
Median price point for all closed sales, not accounting for seller concessions, in a given month.
$233,000
$275,625
$249,000
May
$225,000$250,000 $250,000
Year To Date
0.0%+18.3% -9.7% +11.1%
12-Month Med $235,000 $256,000 +8.9%
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 | 7
2012 2013 2014
$100,000
$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
+ / –
June $310,184 $337,647 +8.9%
July $286,352 $363,957 +27.1%
August $266,470 $348,269 +30.7%
September $358,255 $338,314 -5.6%
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%
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
$311,333
$373,557
$326,511
May
$324,128 $334,561 $331,572
Year To Date
- 0.9%+ 20.0% - 12.6% + 3.2%
12-Month Avg $320,744 $338,980 +5.7%
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 | 8
2012 2013 2014
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
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
+ / –
June 94.9% 95.2% +0.3%
July 94.8% 95.1% +0.4%
August 94.8% 95.5% +0.7%
September 94.0% 95.5% +1.6%
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%
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.
94.9% 95.8% 94.8%
May
94.1% 95.5% 95.3%
Year To Date
-0.3%+1.0% -1.1% +1.5%
12-Month Avg 95.2% 95.2% +0.1%
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 | 9
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
+ / –
June 143 124 -13.1%
July 151 106 -30.2%
August 156 119 -23.4%
September 147 129 -11.9%
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%
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.
140
120126
May
145
133125
Year To Date
-5.5%-14.2% +4.6% -8.7%
12-Month Avg 143 123 -13.5%
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 | 10
2012 2013 2014
0
20
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
+ / –
June 2,958 2,721 -8.0%
July 2,902 2,642 -9.0%
August 2,863 2,619 -8.5%
September 2,881 2,566 -10.9%
October 2,834 2,577 -9.1%
November 2,769 2,527 -8.7%
December 2,608 2,424 -7.1%
January 2,644 2,492 -5.7%
February 2,706 2,546 -5.9%
March 2,805 2,668 -4.9%
April 2,849 2,761 -3.1%
May 2,798 2,687 -4.0%
The number of properties available for sale in active status at the end of a given month.
3,0462,798 2,687
May
-4.0%-8.1%
12-Month Avg 2,801 2,603 -7.1%
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 | 11
2012 2013 2014
0
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
+ / –
June 11.2 9.0 -19.0%
July 11.0 8.5 -22.0%
August 10.6 8.5 -19.7%
September 10.5 8.2 -21.9%
October 10.1 8.2 -18.9%
November 9.7 8.0 -17.2%
December 9.2 7.7 -15.7%
January 9.1 8.0 -12.2%
February 9.2 8.2 -10.3%
March 9.5 8.5 -10.4%
April 9.7 8.8 -9.4%
May 9.4 8.6 -9.0%
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.
11.6
9.48.6
May
-9.0%-18.9%
12-Month Avg 9.9 8.4 -15.7%
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 | 12
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