Research performed by
Grand Strand Market Report October 2016 Sales activity in the Grand Strand was negatively impacted by Hurricane Matthew which forced many business closings and lender required re-inspections of approved and unclosed loans. The result was a sharp drop in SFR, condo, and residential lot sales. However, these declines were offset by stabilized SFR and condo sales prices. Additionally, year-to-date sales volume remains above 2015 levels for SFR and condo sales.
SFR sales volume dropped 25.2% in October. However, year-to-date SFR sales are up 2.0% compared to 2015. Median sales price increased to $211,000, up 0.3% for the month, and up 3.0% in 2016. When compared to October 2015, sales prices for new construction are up 10.0% while sales prices of resales are down 4.5%. The median sales price for new construction in October 2016 established a new record high at $253,335. Year-to-date, the median sales price for new construction and resales are up 0.9% and 5.4% respectively. The average sold-to-list ratio for Single Family Residential sales in October was 96%, up 100 basis points compared to the same month in 2015.
Condo sales decreased 10.1% compared to October 2015 but are up 7.4% year-to-date compared to 2015. Condo inventory remained stable compared to October 2015. Median sales price remained stable, only dropping 0.4% to $121,500 in October and maintained its growth at 3.7% for the year. The average sold to list ratio for condo sales in October was 92%, down 100 basis points compared to the same month in 2015.
Residential lot sales were down 50.4% in October compared to 2015 and down 11.3% year-to-date. However, median sales price increased 60.3% for the month compared to 2015 with the year-to-date sales price also increasing by 5.6%. Sold to list ratios are up to 83%, up 200 basis points across the board.
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
$211,000 $121,500 $50,500
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 660 61
$150k - $250k 1,664 114 $250k - $500k 1,537 330
$500k - $1.0 MM 387 138
$1 MM + 104 91
# Listings
Horry Co. 4,352 Georgetown 734
Total 5,086
Average List Price $351,369 Median List Price $254,900
Horry Co. G’town Co.
Less than $100k 853 19 $100k - $150k 840 75
$150k - $200k 576 78 $200k - $400k 964 94
$400k - $750k 165 92
$750k + 32 18
# Listings
Horry Co. 3,430
Georgetown 376
Total 3,806 Average List Price $204,008
Median List Price $159,900
Horry Co. G’town Co.
Less than $25k 180 63
$25k - $50k 364 82
$50k - $75k 239 60 $75k - $100k 140 72
$100k - $175k 197 118 $175k - 250k 118 77
$250k + 115 126
# Listings
Horry Co. 1,353
Georgetown 598
Total 1,951
Average List Price $136,974
Median List Price $74,900
4 Research performed by
Grand Strand Inventory Trends SFR Inventory - October
Historical Data
Condo Inventory – October
Historical Data
May-105,453
Dec-114,340
Oct-165,086
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
4,2224,131
4,057
3,803 3,806
2012 2013 2014 2015 2016
Jun-105,748
Dec-133,930
Oct-163,806
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
4,6084,821
5,2615,112 5,086
2012 2013 2014 2015 2016
5 Research performed by
Closed Sales – SFR October Year to Date
Historical Data
Year Over Year
541610
456
2014 2015 2016
4,913
5,896 6,012
2014 2015 2016
Jan-09149
Jun-15756
Oct-16456
100
200
300
400
500
600
700
800
900
Jan
-06
May
-06
Sep
-06
Jan
-07
May
-07
Sep
-07
Jan
-08
May
-08
Sep
-08
Jan
-09
May
-09
Sep
-09
Jan
-10
May
-10
Sep
-10
Jan
-11
May
-11
Sep
-11
Jan
-12
May
-12
Sep
-12
Jan
-13
May
-13
Sep
-13
Jan
-14
May
-14
Sep
-14
Jan
-15
May
-15
Sep
-15
Jan
-16
May
-16
Sep
-16
0
200
400
600
800
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016
6 Research performed by
Median Sales Price – SFR
October Year to Date
Historical Data
$190,000
$210,425 $211,000
2014 2015 2016
$190,000
$202,095
$208,062
2014 2015 2016
Jun-06$242,310
Sep-12$160,163
Oct-16$211,000
$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
7 Research performed by
Sold to List Price Ratio – SFR
October Year to Date
Historical Data
94%
95%
96%
2014 2015 2016
94%
95%
96%
2014 2015 2016
Jan-0698%
October-09 & Apr-1186%
Oct-1696%
80
82
84
86
88
90
92
94
96
98
100
Jan
-06
May
-06
Sep
-06
Jan
-07
May
-07
Sep
-07
Jan
-08
May
-08
Sep
-08
Jan
-09
May
-09
Sep
-09
Jan
-10
May
-10
Sep
-10
Jan
-11
May
-11
Sep
-11
Jan
-12
May
-12
Sep
-12
Jan
-13
May
-13
Sep
-13
Jan
-14
May
-14
Sep
-14
Jan
-15
May
-15
Sep
-15
Jan
-16
May
-16
Sep
-16
8 Research performed by
New Construction vs Resale – SFR % of Total Sales
October Year to Date
Historical Data – % of Total Sales
33% 34% 35%
67% 66% 65%
2014 2015 2016
New Construction Resale
35% 34% 29%
65% 66% 71%
2014 2015 2016
New Construction Resale
Apr-1322%
Jun-1336%
Dec-1336%
Oct-1629%
Apr-1378%
Jun-1364%
Dec-1364%
Oct-1671%
0
100
200
300
400
500
600
700
800
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Total SFR Sales % New Construction % Resale
9 Research performed by
New Construction vs Resale – SFR Median Sales Price
October Year to Date
Historical Data – Median Sales Price
$222,000 $229,279 $231,240
$173,000 $184,000 $194,000
2014 2015 2016
New Construction Resale
$227,473 $230,377$253,335
$173,450$199,500
$190,500
2014 2015 2016
New Construction Resale
Aug-12$183,320
Mar-14$249,440
Oct-16$253,335
Nov-11$145,000
Aug-14$184,900
Oct-16$190,500
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
$280,000
Sep
-11
No
v-1
1
Jan
-12
Mar
-12
May
-12
Jul-
12
Sep
-12
No
v-1
2
Jan
-13
Mar
-13
May
-13
Jul-
13
Sep
-13
No
v-1
3
Jan
-14
Mar
-14
May
-14
Jul-
14
Sep
-14
No
v-1
4
Jan
-15
Mar
-15
May
-15
Jul-
15
Sep
-15
No
v-1
5
Jan
-16
Mar
-16
May
-16
Jul-
16
Sep
-16
New Construction Resale
10 Research performed by
Closed Sales – Condo
October Year to Date
Historical Data
Year Over Year
348
387
348
2014 2015 2016
3,516
3,900
4,190
2014 2015 2016
May-06845
Jan-09117
Oct-16348
100
200
300
400
500
600
700
800
900
Jan
-06
May
-06
Sep
-06
Jan
-07
May
-07
Sep
-07
Jan
-08
May
-08
Sep
-08
Jan
-09
May
-09
Sep
-09
Jan
-10
May
-10
Sep
-10
Jan
-11
May
-11
Sep
-11
Jan
-12
May
-12
Sep
-12
Jan
-13
May
-13
Sep
-13
Jan
-14
May
-14
Sep
-14
Jan
-15
May
-15
Sep
-15
Jan
-16
May
-16
Sep
-16
0
100
200
300
400
500
600
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016
11 Research performed by
Median Sales Price – Condo
October Year to Date
Historical Data
Sold to List Price Ratio – Condo October Year to Date
Historical Data
$119,950
$122,000 $121,500
2014 2015 2016
$112,850 $115,475
$119,709
2014 2015 2016
91%
93%
92%
2014 2015 2016
91%
93%
92%
2014 2015 2016
Mar-06& Apr-06
98%
Apr-09 & October-0981%
Oct-1692
75
80
85
90
95
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
Jun-07$249,921
Nov-11$93,450
Oct-16$121,500
$50,000
$100,000
$150,000
$200,000
$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
12 Research performed by
Closed Sales – Residential Lot
October Year to Date
Historical Data
Year Over Year
0
50
100
150
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016
101
125
62
2014 2015 2016
877
948
841
2014 2015 2016
Apr-06266
Jan-0911
Oct-1662
0
50
100
150
200
250
300
Jan
-06
May
-06
Sep
-06
Jan
-07
May
-07
Sep
-07
Jan
-08
May
-08
Sep
-08
Jan
-09
May
-09
Sep
-09
Jan
-10
May
-10
Sep
-10
Jan
-11
May
-11
Sep
-11
Jan
-12
May
-12
Sep
-12
Jan
-13
May
-13
Sep
-13
Jan
-14
May
-14
Sep
-14
Jan
-15
May
-15
Sep
-15
Jan
-16
May
-16
Sep
-16
13 Research performed by
Median Sales Price – Residential Lot
October Year to Date
Historical Data
Sold to List Price Ratio – Residential Lot
October Year to Date
Historical Data
$43,500
$31,500
$50,500
2014 2015 2016
$50,000
$45,000 $47,500
2014 2015 2016
Aug-06$130,000
Nov-11$15,000
Oct-16$50,500
$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
81% 81%
83%
2014 2015 2016
81% 81%
83%
2014 2015 2016
Apr-0699%
Nov-1147%
Oct-1683%
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
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