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Housing Supply Overview A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS速

April 2011

Quick Facts

Due to the 2010 tax credit, current market activity can look drastically different than it did one year ago. For the 12-month period spanning May 2010 through April 2011, Pending Sales in the Hilton Head region were up 9.4 percent from the same period a year prior. The largest gain occurred in the $100,000 and Below range, where they increased 83.2 percent to 568 units. One might expect properties to take longer to sell without an incentive in place. The segment with the largest increase in market times was the $100,000 and Below range, where they increased 15.6 percent to 101 days. The segment that tended to sell the quickest was the $100,000 and Below range at 101 days; the segment that tended to sell the slowest was the $650,001 and Above range at 211 days. The overall Median Sales price was down 9.5 percent. Single-Family properties saw the smallest price drop, where the Median Sales Price decreased 4.4 percent to $270,000. Meanwhile, Single-Family inventory levels have decreased 17.8 percent, and Condo inventory levels have decreased 15.1 percent.

+ 83.2%

+ 13.9%

+ 23.1%

Price Range With the Strongest Sales:

Bedroom Count With Strongest Sales:

Property Type With Strongest Sales:

$100,000 and Below

2 Bedrooms or Less

Condos

Pending Sales Days on Market Until Sale Median Sales Price Percent of List Price Received Inventory of Homes for Sale Months Supply of Inventory

2 3 4 5 6 7

Click on desired metric to jump to that page.

All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | 1


Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total.

By Price Range 4-2010

By Property Type

By Bedroom Count

4-2011

4-2010

782

767

985 591

568

4-2010

4-2011 1,054

1,113 1,859

865

641 510

4-2011

517

641

1,936

698

375 316

310

873 709

+ 83.2%

- 1.9%

+ 8.5%

+ 1.4%

- 15.7%

+ 13.9%

+ 5.6%

+ 8.9%

+ 4.1%

+ 23.1%

$100,000 and Below

$100,001 to $225,000

$225,001 to $375,000

$375,001 to $650,000

$650,001 and Above

2 Bedrooms or Less

3 Bedrooms

4 Bedrooms or More

Single-Family Homes

Condos

All Properties By Price Range

Single-Family Homes

4-2010

4-2011

Change

$100,000 and Below

310

568

$100,001 to $225,000

782

767

$225,001 to $375,000

591

$375,001 to $650,000

510

$650,001 and Above All Price Ranges

By Bedroom Count 2 Bedrooms or Less 3 Bedrooms

Condos

4-2010

4-2011

Change

4-2010

4-2011

Change

+ 83.2%

96

208

+ 116.7%

214

360

+ 68.2%

- 1.9%

611

572

- 6.4%

171

195

+ 14.0%

641

+ 8.5%

417

473

+ 13.4%

174

168

- 3.4%

517

+ 1.4%

399

404

+ 1.3%

111

113

+ 1.8%

375

316

- 15.7%

336

279

- 17.0%

39

37

- 5.1%

2,568

2,809

+ 9.4%

1,859

1,936

+ 4.1%

709

873

+ 23.1%

4-2010

4-2011

Change

4-2010

4-2011

Change

4-2010

4-2011

Change

865

985

+ 13.9%

307

304

- 1.0%

558

681

+ 22.0%

1,054

1,113

+ 5.6%

919

939

+ 2.2%

135

174

+ 28.9%

4 Bedrooms or More

641

698

+ 8.9%

632

692

+ 9.5%

9

6

- 33.3%

All Bedroom Counts

2,568

2,809

+ 9.4%

1,859

1,936

+ 4.1%

709

873

+ 23.1%

All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 2


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

By Price Range 4-2010

4-2010

207 178 159 136 87

By Property Type

By Bedroom Count

4-2011

4-2010

4-2011

155

180

211

165 151

185

4-2011

134

138

151

144

148

148

126

101 144

+ 15.6%

- 7.3%

- 6.7%

+ 4.1%

+ 1.8%

- 11.5%

+ 4.0%

- 7.9%

- 4.9%

- 4.2%

$100,000 and Below

$100,001 to $225,000

$225,001 to $375,000

$375,001 to $650,000

$650,001 and Above

2 Bedrooms or Less

3 Bedrooms

4 Bedrooms or More

Single-Family Homes

Condos

All Properties By Price Range

Single-Family Homes

4-2010

4-2011

Change

$100,000 and Below

87

101

+ 15.6%

$100,001 to $225,000

136

126

- 7.3%

$225,001 to $375,000

159

148

- 6.7%

146

$375,001 to $650,000

178

185

+ 4.1%

169

$650,001 and Above

207

211

+ 1.8%

All Price Ranges

152

145

By Bedroom Count

4-2010

4-2011

Change

82

96

127

123

Condos 4-2010

4-2011

Change

+ 17.0%

90

104

+ 15.2%

- 2.9%

165

135

- 18.0%

132

- 9.7%

190

196

+ 3.4%

171

+ 0.9%

215

243

+ 13.2%

214

212

- 0.9%

136

197

+ 44.1%

- 4.7%

151

144

- 4.9%

155

148

- 4.2%

4-2010

4-2011

Change

4-2010

4-2011

Change

4-2010

4-2011

Change

2 Bedrooms or Less

151

134

- 11.5%

138

120

- 13.6%

158

140

- 11.4%

3 Bedrooms

138

144

+ 4.0%

137

137

- 0.1%

146

182

+ 24.4%

4 Bedrooms or More

180

165

- 7.9%

180

165

- 8.2%

178

238

+ 33.7%

All Bedroom Counts

152

145

- 4.7%

151

144

- 4.9%

155

148

- 4.2%

All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 3


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

By Bedroom Count 4-2010

By Property Type 4-2010

4-2011

4-2011 $282,500

$525,000

$258,500 $475,000

$270,000

$233,832 $191,165

$285,000 $170,000

$148,500

$265,000

$152,000

- 10.6%

- 7.0%

2 Bedrooms or Less

3 Bedrooms

- 9.5%

- 9.5%

4 Bedrooms or More

All Properties By Bedroom Count

- 4.4%

All Properties

Single-Family Homes

Single-Family Homes

- 22.3% Condos

Condos

4-2010

4-2011

Change

4-2010

4-2011

Change

4-2010

4-2011

Change

2 Bedrooms or Less

$170,000

$152,000

- 10.6%

$180,000

$179,900

- 0.1%

$152,750

$119,000

- 22.1%

3 Bedrooms

$285,000

$265,000

- 7.0%

$276,059

$255,000

- 7.6%

$315,000

$320,000

+ 1.6%

4 Bedrooms or More

$525,000

$475,000

- 9.5%

$525,000

$475,000

- 9.5%

$599,000

$415,000

- 30.7%

All Bedroom Counts

$258,500

$233,832

- 9.5%

$282,500

$270,000

- 4.4%

$191,165

$148,500

- 22.3%

All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 4


Percent of List Price Received 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.

By Price Range 4-2010

By Property Type

By Bedroom Count

4-2011

4-2010

4-2010

4-2011

4-2011

94.2% 94.8%

94.5% 94.4%

94.0% 93.8% 93.2%

93.2%

93.6%

93.8% 93.3%

93.8% 93.5%

93.3%

92.4%

93.4%

91.8% 91.1%

91.9%

92.6%

+ 0.8%

- 0.4%

- 0.2%

+ 0.5%

+ 0.8%

+ 0.9%

- 0.8%

+ 0.2%

- 0.4%

+ 1.4%

$100,000 and Below

$100,001 to $225,000

$225,001 to $375,000

$375,001 to $650,000

$650,001 and Above

2 Bedrooms or Less

3 Bedrooms

4 Bedrooms or More

Single-Family Homes

Condos

All Properties

Single-Family Homes

Condos

By Price Range

4-2010

4-2011

Change

4-2010

4-2011

Change

4-2010

4-2011

Change

$100,000 and Below

92.4%

93.2%

+ 0.8%

94.0%

90.7%

- 3.5%

91.5%

94.5%

+ 3.3%

$100,001 to $225,000

94.8%

94.4%

- 0.4%

95.6%

95.0%

- 0.7%

92.0%

92.5%

+ 0.6%

$225,001 to $375,000

94.0%

93.8%

- 0.2%

94.8%

94.5%

- 0.4%

92.0%

92.0%

- 0.0%

$375,001 to $650,000

93.2%

93.6%

+ 0.5%

93.5%

94.0%

+ 0.5%

92.3%

92.4%

+ 0.1%

$650,001 and Above

91.1%

91.8%

+ 0.8%

90.9%

91.7%

+ 0.9%

92.8%

92.8%

- 0.1%

All Price Ranges

93.5%

93.6%

+ 0.1%

94.2%

93.8%

- 0.4%

91.9%

93.3%

+ 1.4%

By Bedroom Count

4-2010

4-2011

Change

4-2010

4-2011

Change

4-2010

4-2011

Change

2 Bedrooms or Less

92.6%

93.5%

+ 0.9%

93.8%

93.6%

- 0.2%

92.0%

93.4%

+ 1.6%

3 Bedrooms

94.5%

93.8%

- 0.8%

94.8%

94.1%

- 0.8%

92.3%

92.2%

- 0.1%

4 Bedrooms or More

93.3%

93.4%

+ 0.2%

93.3%

93.5%

+ 0.1%

90.3%

89.2%

- 1.3%

All Bedroom Counts

93.5%

93.6%

+ 0.1%

94.2%

93.8%

- 0.4%

91.9%

93.3%

+ 1.4%

All data from the Multiple Listing Service 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


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

By Price Range 4-2010

By Property Type

By Bedroom Count

4-2011

4-2010 948

894

858 696

1,445 827

777

4-2010

4-2011

755

2,602 1,253

1,170

665

4-2011

951

1,152

2,140 923 1,179

304

1,001

198

- 34.9%

- 18.9%

- 14.4%

- 15.5%

- 12.8%

- 18.7%

- 13.3%

- 19.9%

- 17.8%

- 15.1%

$100,000 and Below

$100,001 to $225,000

$225,001 to $375,000

$375,001 to $650,000

$650,001 and Above

2 Bedrooms or Less

3 Bedrooms

4 Bedrooms or More

Single-Family Homes

Condos

All Properties By Price Range

Single-Family Homes

4-2010

4-2011

Change

4-2010

$100,000 and Below

304

198

- 34.9%

$100,001 to $225,000

858

696

- 18.9%

$225,001 to $375,000

777

665

$375,001 to $650,000

894

755

$650,001 and Above

948

All Price Ranges

By Bedroom Count

Condos

4-2011

Change

4-2010

4-2011

Change

115

86

- 25.2%

189

112

- 40.7%

564

510

- 9.6%

294

186

- 36.7%

- 14.4%

490

361

- 26.3%

287

304

+ 5.9%

- 15.5%

611

481

- 21.3%

283

274

- 3.2%

827

- 12.8%

822

702

- 14.6%

126

125

- 0.8%

3,781

3,141

- 16.9%

2,602

2,140

- 17.8%

1,179

1,001

- 15.1%

4-2010

4-2011

Change

4-2010

4-2011

Change

4-2010

4-2011

Change

2 Bedrooms or Less

1,170

951

- 18.7%

306

285

- 6.9%

864

666

- 22.9%

3 Bedrooms

1,445

1,253

- 13.3%

1,163

969

- 16.7%

282

284

+ 0.7%

4 Bedrooms or More

1,152

923

- 19.9%

1,132

885

- 21.8%

20

38

+ 90.0%

All Bedroom Counts

3,781

3,141

- 16.9%

2,602

2,140

- 17.8%

1,179

1,001

- 15.1%

All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 6


Months Supply of Inventory 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.

By Price Range 4-2010

4-2010 31.0

13.5 10.9

4-2010

4-2011

22.0

17.0

16.9

20.6 16.0

17.3 13.7

13.2

13.3

17.3

16.0

4-2011

30.3

21.5

13.1

By Property Type

By Bedroom Count

4-2011

11.6

12.5

4.2

- 68.2%

- 19.3%

- 22.2%

- 19.4%

- 2.4%

- 31.7%

- 21.8%

- 27.5%

- 24.0%

- 33.5%

$100,000 and Below

$100,001 to $225,000

$225,001 to $375,000

$375,001 to $650,000

$650,001 and Above

2 Bedrooms or Less

3 Bedrooms

4 Bedrooms or More

Single-Family Homes

Condos

All Properties By Price Range

4-2010

Single-Family Homes

4-2011

Change

4-2010

Condos

4-2011

Change

4-2010

4-2011

Change

$100,000 and Below

13.1

4.2

- 68.2%

15.7

5.1

- 67.7%

11.9

3.7

- 69.2%

$100,001 to $225,000

13.5

10.9

- 19.3%

11.7

10.5

- 10.2%

19.4

12.3

- 36.7%

$225,001 to $375,000

16.0

12.5

- 22.2%

14.4

9.2

- 36.1%

19.8

21.5

+ 8.4%

$375,001 to $650,000

21.5

17.3

- 19.4%

18.6

14.2

- 23.8%

32.3

28.3

- 12.4%

$650,001 and Above

31.0

30.3

- 2.4%

29.8

29.7

- 0.5%

38.5

34.1

- 11.5%

All Price Ranges

18.2

13.3

- 26.9%

17.3

13.2

- 24.0%

20.6

13.7

- 33.5%

By Bedroom Count

4-2010

4-2011

Change

4-2010

4-2011

Change

4-2010

4-2011

Change

2 Bedrooms or Less

16.9

11.6

- 31.7%

12.8

11.3

- 11.8%

19.1

11.7

- 38.8%

3 Bedrooms

17.0

13.3

- 21.8%

15.6

12.2

- 22.1%

26.4

19.3

- 27.2%

4 Bedrooms or More

22.0

16.0

- 27.5%

22.0

15.4

- 29.8%

14.0

31.7

+ 126.2%

All Bedroom Counts

18.2

13.3

- 26.9%

17.3

13.2

- 24.0%

20.6

13.7

- 33.5%

All data from the Multiple Listing Service of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS速 and South Carolina REALTORS速. Powered by 10K Research and Marketing. | Click for Cover Page | 7


April 2011 Housing Supply Overview