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Grand Strand Market Report - Amazon S3 · 2017-08-23 · Condo inventory has tightened as inventory...
Transcript of Grand Strand Market Report - Amazon S3 · 2017-08-23 · Condo inventory has tightened as inventory...
Research performed by
Grand Strand Market Report July 2017 Grand Strand market activity faced another slight setback in July. SFR sales volume dropped 6.9% for the month but continues its strong growth, up 6.1% year-to-date. Condo sales volume remained flat while the median sales price is up 7.3%. Residential lot sales were up 16.0% for the month and up 6.9% year-to-date.
SFR sales in the Grand Strand were down for the month with sales volume dropping 6.9% compared to July 2016. Year-to-date sales, however, continue their strong growth: up 6.1% year-to-date. Median sales price dropped to $204,950, a 3.0% decrease from July 2016 while year-to-date sale prices are up 4.4%. Sales prices for new construction are up 5.9% while sales prices for resales are down 3.5% when compared to July 2016. The average sold-to-list ratio for Single Family Residential sales in July was 95%, down 100 basis points compared to the same month in 2016. SFR inventory continues to tighten as inventory is down 14.5% from 2016.
Condo sales volume remained essentially flat, dropping a mere 0.2% while the median sales price was up 7.3% compared to July 2016. Year-to-date, condo sales are up 15.8% and condo median sales prices are up 8.1%. Condo inventory has tightened as inventory is down compared to prior year levels: down 14.5% compared to July 2016. The average sold to list ratio for condo sales in July was 93%, up 100 basis points compared to the same month in 2016.
Residential lot sales were up 16.0% in July compared to 2016 and are up 6.9% year-to-date. The median sales price dropped to $46,700, down 16.6% compared to the same month in 2016. Sold to list ratios are at 81%, down 400 basis points compared to July 2016.
At a glance…
SFR Condo Residential Lot
Sales Inventory Sales Inventory Sales Inventory Month YTD Month Month YTD Month Month YTD Month
-
Median Sales Price Median Sales Price Median Sales Price
$204,950 $128,750 $46,700
2 Research performed by
Contents
Active Inventory 3
Inventory Trends – SFR & Condo 4
Closed Sales – SFR 5
Median Sales Price – SFR 6
Sold to List Price Ratio – SFR 7
New Construction vs Resale – SFR
% of Total Sales 8
Median Sales Price 9
Closed Sales – Condo 10
Median Sales Price – Condo 11
Sold to List Price Ratio – Condo 11
Closed Sales – Residential Lot 12
Median Sales Price – Residential Lot 13
Sold to List Price Ratio – Residential Lot 13
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3 Research performed by
Grand Strand Active Inventory Single Family Residential Distribution by Price Range
Condo/Townhome Distribution by Price Range
Residential Lot Distribution by Price Range
Horry Co. G’town Co.
Less than $150k 473 50
$150k - $250k 1,861 95 $250k - $500k 1,725 318
$500k - $1.0 MM 398 157
$1 MM + 113 96
# Listings
Horry Co. 4,570 Georgetown 716
Total 5,286
Average List Price $358,886 Median List Price $263,680
Horry Co. G’town Co.
Less than $100k 718 16 $100k - $150k 769 63
$150k - $200k 544 53 $200k - $400k 905 92
$400k - $750k 146 95
$750k + 25 13
# Listings
Horry Co. 3,107
Georgetown 332
Total 3,439 Average List Price $205,731
Median List Price $159,900
Horry Co. G’town Co.
Less than $25k 153 72
$25k - $50k 364 59
$50k - $75k 241 59 $75k - $100k 138 66
$100k - $175k 224 125 $175k - 250k 129 84
$250k + 122 126
# Listings
Horry Co. 1,371
Georgetown 591
Total 1,962
Average List Price $136,298
Median List Price $78,950
4 Research performed by
Grand Strand Inventory Trends SFR Inventory - July
Historical Data
Condo Inventory – July
Historical Data
May-105,453
Dec-114,340
Jul-175,286
4,0004,2004,4004,6004,8005,0005,2005,4005,6005,800
May
-10
Au
g-1
0
No
v-1
0
Feb
-11
May
-11
Au
g-1
1
No
v-1
1
Feb
-12
May
-12
Au
g-1
2
No
v-1
2
Feb
-13
May
-13
Au
g-1
3
No
v-1
3
Feb
-14
May
-14
Au
g-1
4
No
v-1
4
Feb
-15
May
-15
Au
g-1
5
No
v-1
5
Feb
-16
May
-16
Au
g-1
6
No
v-1
6
Feb
-17
May
-17
4,167 4,256 4,004 4,0213,439
2013 2014 2015 2016 2017
Jun-105,748
Dec-133,930 Jul-17
3,439
3,000
3,500
4,000
4,500
5,000
5,500
6,000
May
-10
Au
g-1
0
No
v-1
0
Feb
-11
May
-11
Au
g-1
1
No
v-1
1
Feb
-12
May
-12
Au
g-1
2
No
v-1
2
Feb
-13
May
-13
Au
g-1
3
No
v-1
3
Feb
-14
May
-14
Au
g-1
4
No
v-1
4
Feb
-15
May
-15
Au
g-1
5
No
v-1
5
Feb
-16
May
-16
Au
g-1
6
No
v-1
6
Feb
-17
May
-17
4,950
5,3465,485
5,287 5,286
2013 2014 2015 2016 2017
5 Research performed by
Closed Sales – SFR July Year to Date
Historical Data
Year Over Year
658668
622
2015 2016 2017
3,952
4,231
4,491
2015 2016 2017
Jan-09149
Jun-15756
Jul-17622
100
200
300
400
500
600
700
800
900
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7
0
200
400
600
800
1000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016 2017
6 Research performed by
Median Sales Price – SFR
July Year to Date
Historical Data
$198,965
$211,212
$204,950
2015 2016 2017
$198,465
$206,000
$215,000
2015 2016 2017
Jun-06$242,310
Sep-12$160,163
Jul-17$204,950
$150,000
$160,000
$170,000
$180,000
$190,000
$200,000
$210,000
$220,000
$230,000
$240,000
$250,000
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7
7 Research performed by
Sold to List Price Ratio – SFR
July Year to Date
Historical Data
95%
96%
95%
2015 2016 2017
95%
96% 96%
2015 2016 2017
Jan-0698%
July-09 & Apr-1186%
Jul-1795%
80
82
84
86
88
90
92
94
96
98
100
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7
8 Research performed by
New Construction vs Resale – SFR % of Total Sales
July Year to Date
Historical Data – % of Total Sales
34% 36% 33%
66% 64% 67%
2015 2016 2017
New Construction Resale
Apr-1322%
Jun-1336%
Dec-1336%
Jul-1727%
Apr-1378%
Jun-1364%
Dec-1364%
Jul-1773%
0
100
200
300
400
500
600
700
800
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Oct
-13
Jan
-14
Ap
r-1
4
Jul-
14
Oct
-14
Jan
-15
Ap
r-1
5
Jul-
15
Oct
-15
Jan
-16
Ap
r-1
6
Jul-
16
Oct
-16
Jan
-17
Ap
r-1
7
Jul-
17
Total SFR Sales % New Construction % Resale
33% 33% 27%
67% 67% 73%
2015 2016 2017
New Construction Resale
9 Research performed by
New Construction vs Resale – SFR Median Sales Price
July Year to Date
Historical Data – Median Sales Price
$230,908 $226,919$238,530
$179,850$194,000 $205,000
2015 2016 2017
New Construction Resale
$221,175$215,858 $228,500
$184,450$206,250 $199,000
2015 2016 2017
New Construction Resale
$183,320
$249,440
Jul-17$228,500
Nov-11$145,000
Aug-14$184,900
Jul-17$199,900
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
$280,000
Sep
-11
Dec
-11
Mar
-12
Jun
-12
Sep
-12
Dec
-12
Mar
-13
Jun
-13
Sep
-13
Dec
-13
Mar
-14
Jun
-14
Sep
-14
Dec
-14
Mar
-15
Jun
-15
Sep
-15
Dec
-15
Mar
-16
Jun
-16
Sep
-16
Dec
-16
Mar
-17
Jun
-17
New Construction Resale
10 Research performed by
Closed Sales – Condo
July Year to Date
Historical Data
Year Over Year
381
417 416
2015 2016 2017
2,7062,919
3,380
2015 2016 2017
May-06845
Jan-09117
Jul-17416
100
200
300
400
500
600
700
800
900
Feb
-06
Jul-
06
Dec
-06
May
-07
Oct
-07
Mar
-08
Au
g-0
8
Jan
-09
Jun
-09
No
v-0
9
Ap
r-1
0
Sep
-10
Feb
-11
Jul-
11
Dec
-11
May
-12
Oct
-12
Mar
-13
Au
g-1
3
Jan
-14
Jun
-14
No
v-1
4
Ap
r-1
5
Sep
-15
Feb
-16
Jul-
16
Dec
-16
May
-17
0
100
200
300
400
500
600
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016 2017
11 Research performed by
Median Sales Price – Condo
July Year to Date
Historical Data
Sold to List Price Ratio – Condo July Year to Date
Historical Data
$119,900 $120,000
$128,750
2015 2016 2017
$115,000 $117,500
$127,000
2015 2016 2017
92% 92%
93%
2015 2016 2017
92% 92%
94%
2015 2016 2017
Apr-09 & July-0981%
Jul-1793%
75
80
85
90
95
100
Jul-
06
Dec
-06
May
-07
Oct
-07
Mar
-08
Au
g-0
8
Jan
-09
Jun
-09
No
v-0
9
Ap
r-1
0
Sep
-10
Feb
-11
Jul-
11
Dec
-11
May
-12
Oct
-12
Mar
-13
Au
g-1
3
Jan
-14
Jun
-14
No
v-1
4
Ap
r-1
5
Sep
-15
Feb
-16
Jul-
16
Dec
-16
May
-17
Jun-07$249,921
Nov-11$93,450
Jul-17$128,750
$50,000
$100,000
$150,000
$200,000
$250,000
Jul-
06
Dec
-06
May
-07
Oct
-07
Mar
-08
Au
g-0
8
Jan
-09
Jun
-09
No
v-0
9
Ap
r-1
0
Sep
-10
Feb
-11
Jul-
11
Dec
-11
May
-12
Oct
-12
Mar
-13
Au
g-1
3
Jan
-14
Jun
-14
No
v-1
4
Ap
r-1
5
Sep
-15
Feb
-16
Jul-
16
Dec
-16
May
-17
12 Research performed by
Closed Sales – Residential Lot
July Year to Date
Historical Data
Year Over Year
0
50
100
150
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016 2017
92
69
80
2015 2016 2017
632
567
606
2015 2016 2017
Apr-06266
Jan-0911
Jul-1780
0
50
100
150
200
250
300
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7
13 Research performed by
Median Sales Price – Residential Lot
July Year to Date
Historical Data
Sold to List Price Ratio – Residential Lot
July Year to Date
Historical Data
$42,750
$56,000 $46,700
2015 2016 2017
$48,000
$47,500 $47,750
2015 2016 2017
Aug-06$130,000
Nov-11$15,000
Jul-17$46,700
$0
$50,000
$100,000
$150,000
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
783%
85%
81%
2015 2016 2017
82%83%
85%
2015 2016 2017
Apr-0699%
Nov-1147%
Jul-1781%
40
60
80
100
120
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7