Page 1

Monthly Indicators A RESEARCH TOOL PROVIDED BY THE HILTON HEAD AREA ASSOCIATION OF REALTORS®

June 2013

Quick Facts

As potentially the brightest sun in the current economic recovery, housing activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, marketplace which will help replenish neighborhoods with new listings. New Listings in the Hilton Head region decreased 13.5 percent to 360. Pending Sales were up 20.8 percent to 366. Inventory levels shrank 15.9 percent to 2,474 units. Prices followed the mercury higher. The Median Sales Price increased 9.8 percent to $252,500. Days on Market was down 5.1 percent to 118 days. Absorption rates improved as Months Supply of Inventory was down 27.2 percent to 8.1 months. The economy – which generates the jobs that fuel housing demand – continued to improve at a moderate pace during the second quarter of 2013. Budget sequesters and sluggish export growth have taken a back seat to housing recovery and stronger consumer spending. Interest rates could flirt with 4.0 or 4.25 percent again but the days of 3.3 percent interest are likely behind us.

- 1.4%

+ 9.8%

- 15.9%

Change in Closed Sales

Change in Median Sales Price

Change in Inventory

Market Overview New Listings Pending Sales Closed Sales Days On Market Until Sale Median Sales Price Average Sales Price Percent of List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory

2 3 4 5 6 7 8 9 10 11 12

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® and South Carolina REALTORS®. Powered by 10K Research and Marketing. | 1


Market Overview Key market metrics for the current month and year-to-date figures.

Key Metrics

Historical Sparklines

New Listings 6-2010

6-2011

6-2012

6-2011

6-2012

6-2011

6-2012

6-2011

6-2012

6-2011

6-2012

6-2011

6-2012

6-2011

6-2012

6-2011

6-2012

6-2011

6-2012

6-2011

6-2012

2,847

- 3.0%

303

366

+ 20.8%

1,799

2,046

+ 13.7%

346

341

- 1.4%

1,633

1,748

+ 7.0%

125

118

- 5.1%

134

122

- 8.8%

$230,000

$252,500

+ 9.8%

$225,440

$250,000

+ 10.9%

$310,184

$337,647

+ 8.9%

$321,177

$335,010

+ 4.3%

94.9%

95.2%

+ 0.3%

94.3%

95.5%

+ 1.2%

146

127

- 13.2%

149

128

- 13.9%

2,943

2,474

- 15.9%

--

--

--

11.1

8.1

- 27.2%

--

--

--

6-2013

Months Supply of Homes for Sale 6-2010

2,936

6-2013

Inventory of Homes for Sale 6-2010

- 13.5%

6-2013

Housing Affordability Index 6-2010

360

6-2013

Percent of List Price Received 6-2010

416

6-2013

Average Sales Price 6-2010

+/–

6-2013

Median Sales Price 6-2010

YTD 2012 YTD 2013

6-2013

Days on Market Until Sale 6-2010

+/–

6-2013

Closed Sales 6-2010

6-2013

6-2013

Pending Sales 6-2010

6-2012

6-2013

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 | 2


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

June

Year To Date 435

2,972

416

2,936

2,847

360

2011

-4.4%

-13.5%

2012

2013

2011

Prior Year

Current Year

+/–

July

385

399

+3.6%

August

458

453

-1.1%

Month

-1.2%

-3.0%

2012

2013

September

424

443

+4.5%

October

399

426

+6.8%

November

372

363

-2.4%

December

294

283

-3.7%

January

494

493

-0.2%

February

475

509

+7.2%

March

555

548

-1.3%

April

548

507

-7.5%

May

448

430

-4.0%

June

416

360

-13.5%

12-Month Avg

439

435

-1.0%

Historical New Listing Activity 800 700 600 500 400 300 200 100 0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 3


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

June

Year To Date 366 2,046 303 1,799

268 1,564

2011

+13.1%

+20.8%

2012

2013

2011

Prior Year

Current Year

+/–

July

274

273

-0.4%

August

228

309

+35.5%

September

194

246

+26.8%

October

238

309

+29.8%

November

224

278

+24.1%

December

223

213

-4.5%

January

239

302

+26.4%

February

266

332

+24.8%

March

323

328

+1.5%

April

353

351

-0.6%

May

315

367

+16.5%

June

303

366

+20.8%

12-Month Avg

265

306

+15.5%

Month

+15.0%

+13.7%

2012

2013

Historical Pending Sales Activity 400 350 300 250 200 150 100 50 0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 4


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

June

Year To Date 346

1,748

341 1,633 1,331

215

2011

+60.9%

-1.4%

2012

2013

2011

Prior Year

Current Year

+/–

July

222

279

+25.7%

August

262

304

+16.0%

September

218

252

+15.6%

October

220

283

+28.6%

November

212

307

+44.8%

December

253

247

-2.4%

January

220

217

-1.4%

February

181

229

+26.5%

March

280

306

+9.3%

April

274

303

+10.6%

May

332

352

+6.0%

June

346

341

-1.4%

12-Month Avg

252

285

+14.8%

Month

+22.7%

+7.0%

2012

2013

Historical Closed Sales Activity 400 350 300 250 200 150 100 50 0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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


Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month.

June

Year To Date 146

158

134 122 125

2011

118

-20.9%

-5.1%

2012

2013

2011

Prior Year

Current Year

+/–

July

140

124

-11.5%

August

110

110

+0.4%

September

137

121

-11.3%

October

138

130

-6.2%

November

132

122

-7.7%

December

141

115

-18.6%

January

134

127

-5.5%

Month

-8.2%

-8.8%

2012

2013

February

130

124

-4.8%

March

136

121

-10.5%

April

152

121

-20.0%

May

129

123

-4.6%

June

125

118

-5.1%

12-Month Avg

133

121

-9.0%

Historical Days on Market Until Sale 180

160

140

120

100

80

60 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 6


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

June

Year To Date

$252,500 $233,000

2011

$250,000 $229,900

$230,000

-1.3%

+9.8%

2012

2013

2011

Prior Year

Current Year

+/–

July

$213,750

$220,000

+2.9%

August

$255,000

$212,500

-16.7%

September

$218,000

$230,000

+5.5%

October

$239,133

$235,000

-1.7%

November

$230,000

$233,000

+1.3%

December

$229,700

$238,070

+3.6%

January

$238,750

$245,745

+2.9%

February

$238,000

$228,000

-4.2%

March

$191,750

$225,000

+17.3%

April

$210,000

$263,000

+25.2%

May

$233,000

$275,000

+18.0%

June

$230,000

$252,500

+9.8%

12-Month Med

$225,220

$237,500

+5.5%

Month

$225,440

-1.9%

+10.9%

2012

2013

Historical Median Sales Price $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 7


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

June

Year To Date

$353,623

$337,647

$330,386

$310,184

2011

- 12.3%

+ 8.9%

2012

2013

2011

Prior Year

Current Year

+/–

July

$298,544

$286,352

-4.1%

August

$320,250

$266,470

-16.8%

September

$322,931

$358,255

+10.9%

October

$342,260

$347,171

+1.4%

November

$319,573

$296,461

-7.2%

December

$314,152

$324,491

+3.3%

January

$327,373

$322,692

-1.4%

February

$300,293

$294,120

-2.1%

March

$331,155

$304,274

-8.1%

April

$345,660

$359,394

+4.0%

May

$311,333

$372,688

+19.7%

June

$310,184

$337,647

+8.9%

12-Month Avg

$320,393

$323,416

+0.9%

Month

$321,177

$335,010

- 2.8%

+ 4.3%

2012

2013

Historical Average Sales Price $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 8


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 in a given month, not accounting for seller concessions.

June 94.3%

Year To Date 94.9%

95.2% 93.6%

2011

+0.7%

+0.3%

2012

2013

2011

94.3%

95.5%

+0.8%

+1.2%

2012

2013

Month

Prior Year

Current Year

+/–

July

93.6%

94.8%

+1.3%

August

94.2%

94.8%

+0.6%

September

94.2%

94.0%

-0.2%

October

94.0%

95.0%

+1.1%

November

93.5%

95.5%

+2.1%

December

94.1%

95.2%

+1.2%

January

93.8%

95.1%

+1.3%

February

93.9%

95.3%

+1.5%

March

94.1%

96.1%

+2.1%

April

93.7%

95.1%

+1.6%

May

94.9%

95.8%

+1.0%

June

94.9%

95.2%

+0.3%

12-Month Avg

94.1%

95.2%

+1.1%

Historical Percent of List Price Received 100% 99% 98% 97% 96% 95% 94% 93% 92% 91% 90% 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 9


Housing Affordability Index 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.

June

Year To Date 149

146 129

2011

131

127

+13 1% +13.1%

13 2% -13.2%

2012

2013

2011

Prior Year

Current Year

+/–

July

139

154

+10.8%

August

122

158

+28.6%

September

142

150

+5.6%

October

130

147

+12.6%

November

136

148

+9.2%

December

136

147

+8.0%

January

137

144

+4.9%

February

139

150

+8.0%

March

165

151

-8.2%

April

155

135

-13.2%

May

144

125

-13.1%

Month

128

+13 7% +13.7%

13 9% -13.9%

2012

2013

June

146

127

-13.2%

12-Month Avg

141

144

+3.3%

Historical Housing Affordability Index 180 160 140 120 100 80 60 40 20 0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 10


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

June 3,355 2,943 2,474

2011

-12.3%

-15.9%

2012

2013

Month

Prior Year

Current Year

+/–

July

3,281

2,884

-12.1%

August

3,283

2,839

-13.5%

September

3,295

2,852

-13.4%

October

3,215

2,800

-12.9%

November

3,149

2,727

-13.4%

December

2,969

2,563

-13.7%

January

2,985

2,579

-13.6%

February

3,025

2,625

-13.2%

March

3,061

2,704

-11.7%

April

3,094

2,726

-11.9%

May

3,034

2,636

-13.1%

June

2,943

2,474

-15.9%

12-Month Avg

3,111

2,701

-13.2%

Historical Inventory of Homes for Sale 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 11


Months Supply of Inventory 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.

June 14.4 11.1 8.1

2011

-22.9%

-27.2%

2012

2013

Month

Prior Year

Current Year

+/–

July

14.0

10.9

-22.2%

August

13.9

10.5

-24.7%

September

14.0

10.3

-26.3%

October

13.4

9.9

-26.0%

November

13.1

9.5

-27.1%

December

12.1

9.0

-25.8%

January

12.2

8.9

-27.1%

February

12.3

8.9

-28.0%

March

12.3

9.1

-26.1%

April

12.1

9.2

-23.8%

May

11.6

8.8

-24.3%

June

11.1

8.1

-27.2%

12-Month Avg

12.7

9.4

-25.7%

Historical Months Supply of Inventory 30

25

20

15

10

5

0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

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 | 12

Hilton head mmi  

June Monthly Indicators hhi

Advertisement