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July 2010 What to Watch For July brought a mixed bag of activity to the Hilton Head housing market. Pending sales were up a significant 33.7 percent across the board. The largest increase in sales occurred in the 2 bedroom and smaller condo segment where they jumped 66.0 percent. Inventory was down across the board, but fell the most in the 4 bedroom and larger condo segment which posted a 47.1 percent decrease. This caused Months Supply of Inventory to shrink 57.6 percent to 12.0 months. Inventory shrunk the least in the 3 bedroom condo segment where it decreased by 3.0 percent. Prices were down 9.1 percent for the entire market but condo prices declined 25.0 percent while single-family homes only declined 9.1 percent. Smaller condos faced the largest price drop of 32.9 percent, while 4 bedroom and larger single-family units enjoyed the greatest price gain of 2.9 percent. The price tier for condos with the greatest sales increases is the $100,000 and under range, where Pending Sales increased an astounding 288.3 percent from 173 additional sales. Inventory in that bracket shrunk by 9.4 percent.

Contents Number of Bedrooms Analysis Inventory Months Supply Home Sales Percent of List Price Received Median Sales Price Days on Market Until Sale

2 2 3 3 4 4

Price Range Analysis Inventory Months Supply Home Sales Percent of List Price Received Days on Market Until Sale

5 6 7 8 9

All data provided by Multiple Listing Service of Hilton Head Island Š2010 HHIMLS - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORSŽ

1


Housing Supply Outlook July 2010 Inventory of Homes for Sale 7-2009

7-2010

Change

4,105 2,814 1,291 1,274

3,581 2,472 1,109 1,093

- 12.8% - 12.2% - 14.1% - 14.2%

Single-Family Condo

319 955

295 798

- 7.5% - 16.4%

All Single-Family Condo 2 Bedrooms and Under

3 Bedrooms

1,555

1,410

- 9.3%

Single-Family Condo

1,253 302

1,117 293

- 10.9% - 3.0%

4 Bedrooms or More

1,276

1,078

- 15.5%

Single-Family Condo

1,242 34

1,060 18

- 14.7% - 47.1%

4,105

July 2009

3,581

1,555 1,274

1,410

1,093

7-2010

Change

All Single-Family Condo 2 Bedrooms and Under

26.6 24.1 34.7 26.7

16.9 16.5 18.1 14.9

- 36.5% - 31.6% - 48.0% - 44.3%

Single-Family Condo

16.7 33.3

11.8 16.5

- 29.6% - 50.5%

3 Bedrooms

22.7

16.4

- 27.8%

Single-Family Condo

20.7 37.4

15.1 24.2

- 27.1% - 35.1%

4 Bedrooms or More

33.6

20.8

- 38.2%

Single-Family Condo

33.1 28.3

20.7 12.0

- 37.4% - 57.6%

1,276

1,078

- 12.8%

- 14.2%

- 9.3%

- 15.5%

All

2 Bedrooms and Under

3 Bedrooms

4 Bedrooms or More

Months Supply of Inventory 7-2009

July 2010

July 2009

July 2010

33.6 26.7

26.6

22.7 16.9

20.8 16.4

14.9

- 36.5%

- 44.3%

- 27.8%

- 38.2%

All

2 Bedrooms and Under

3 Bedrooms

4 Bedrooms or More

All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速

2


Housing Supply Outlook July 2010 Pending Home Sales Last Twelve Months 8-2008 through 7-2009

8-2009 through 7-2010

Change

1,905 1,453 452 585

2,547 1,803 744 882

+ 33.7% + 24.1% + 64.6% + 50.8%

Single-Family Condo

235 350

301 581

+ 28.1% + 66.0%

All Single-Family Condo 2 Bedrooms and Under

3 Bedrooms

836

1,033

+ 23.6%

Single-Family Condo

746 90

888 145

+ 19.0% + 61.1%

4 Bedrooms or More

484

632

+ 30.6%

Single-Family Condo

472 12

614 18

+ 30.1% + 50.0%

August 2008 through July 2009

2,547

August 2009 through July 2010

1,905

882

1,033 836

585

+ 33.7% All

484

632

+ 50.8%

+ 23.6%

+ 30.6%

2 Bedrooms and Under

3 Bedrooms

4 Bedrooms or More

Percent Of List Price Received Last Twelve Months August 2008 through July 2009

8-2008 through 7-2009

8-2009 through 7-2010

Change

All Single-Family Condo 2 Bedrooms and Under

93.4% 91.9% 93.9% 92.4%

93.8% 93.3% 94.1% 93.5%

+ 0.4% + 1.5% + 0.2% + 1.2%

Single-Family Condo

93.4% 91.7%

93.7% 93.4%

+ 0.3% + 1.9%

3 Bedrooms

94.5%

94.4%

- 0.1%

Single-Family Condo

94.7% 92.6%

94.7% 92.5%

+ 0.0% - 0.1%

4 Bedrooms or More

92.9%

93.3%

+ 0.4%

Single-Family Condo

92.9% 94.4%

93.3% 90.2%

+ 0.5% - 4.5%

93.8%

93.4%

+ 0.4% All

92.4%

93.5%

94.5%

+ 1.2% 2 Bedrooms and Under

94.4%

August 2009 through July 2010

92.9%

93.3%

- 0.1%

+ 0.4%

3 Bedrooms

4 Bedrooms or More

All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速

3


Housing Supply Outlook July 2010 Median Sales Price Last Twelve Months 8-2008 through 7-2009

8-2009 through 7-2010

Change

All Single-Family Condo 2 Bedrooms and Under

$275,000 $285,000 $240,000 $194,000

$250,000 $280,000 $180,000 $168,000

- 9.1% - 1.8% - 25.0% - 13.4%

Single-Family Condo

$185,000 $208,700

$180,000 $140,000

- 2.7% - 32.9%

3 Bedrooms

$289,995 $281,000

- 3.1%

Single-Family Condo

$280,000 $336,000

- 5.9% - 1.8%

4 Bedrooms or More

$509,950 $525,000

+ 3.0%

Single-Family Condo

$508,950 $625,000

+ 2.9% - 2.7%

$263,590 $330,000 $523,500 $608,000

August 2008 through July 2009

$275,000

$509,950 $525,000

August 2009 through July 2010

$289,995 $281,000

$250,000 $194,000

$168,000

- 9.1%

- 13.4%

- 3.1%

All

2 Bedrooms and Under

3 Bedrooms

+ 3.0% 4 Bedrooms or More

Days on Market Until Sale Last Twelve Months 8-2008 through 7-2009

8-2009 through 7-2010

Change

All Single-Family Condo 2 Bedrooms and Under

146 140 167 150

148 150 144 137

+ 1.5% + 7.3% - 13.5% - 8.4%

Single-Family Condo

116 172

132 140

+ 13.8% - 18.8%

August 2008 through July 2009

3 Bedrooms

134

138

+ 2.7%

Single-Family Condo

132 151

133 165

+ 0.9% + 9.2%

4 Bedrooms or More

163

183

+ 12.1%

Single-Family Condo

164 64

183 173

+ 11.6% + 169.8%

August 2009 through July 2010

183 163 148

146

150 137

134

138

+ 1.5%

- 8.4%

+ 2.7%

+ 12.1%

All

2 Bedrooms and Under

3 Bedrooms

4 Bedrooms or More

All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速

4


Housing Supply Outlook July 2010 Inventory of Homes for Sale All Price Range

7-2009

Single-Family

7-2010

Change

7-2009

Condo

7-2010

Change

7-2009

7-2010

Change

$100,000 and below

224

263

+ 17.4%

54

109

+ 101.9%

170

154

- 9.4%

$100,001 to $225,000

960

792

- 17.5%

624

542

- 13.1%

336

250

- 25.6%

$225,001 to $375,000

815

760

- 6.7%

493

464

- 5.9%

322

296

- 8.1%

$375,001 to $650,000

957

843

- 11.9%

630

555

- 11.9%

327

288

- 11.9%

$650,001 and above

1,160

933

- 19.6%

1,015

803

- 20.9%

145

130

- 10.3%

All Price Ranges

4,116

3,591

- 12.8%

2,816

2,473

- 12.2%

1,300

1,118

- 14.0%

July 2009

1,160

July 2010

960

957 792

224

815

933 843

760

263

+ 17.4% $100,000 and below

- 17.5% $100,001 to $225,000

- 6.7% $225,001 to $375,000

- 11.9%

- 19.6%

$375,001 to $650,000

$650,001 and above

All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速

5


Housing Supply Outlook July 2010 Months Supply of Inventory All Price Range $100,000 and below

Single-Family

Condo

7-2009

7-2010

Change

7-2009

7-2010

Change

7-2009

7-2010

Change

28.6

9.5

- 66.9%

16.6

13.1

- 21.3%

37.1

7.9

- 78.6%

$100,001 to $225,000

20.1

12.5

- 37.9%

17.1

11.0

- 35.4%

29.6

17.2

- 41.8%

$225,001 to $375,000

20.3

15.6

- 22.9%

16.4

13.9

- 15.1%

31.9

19.4

- 39.2%

$375,001 to $650,000

28.6

20.5

- 28.5%

25.4

17.4

- 31.5%

38.1

31.1

- 18.3%

$650,001 and above

45.9

30.0

- 34.7%

45.3

29.0

- 35.9%

46.9

34.9

- 25.7%

All Price Ranges

26.6

16.9

- 36.5%

24.1

16.5

- 31.6%

34.7

18.1

- 48.0%

45.9 July 2009

July 2010

30.0

28.6

28.6

20.5

20.3

20.1

15.6 12.5 9.5

- 66.9%

- 37.9%

- 22.9%

- 28.5%

- 34.7%

$100,000 and below

$100,001 to $225,000

$225,001 to $375,000

$375,001 to $650,000

$650,001 and above

All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速

6


Housing Supply Outlook July 2010 Pending Home Sales Last Twelve Months All August 2008 through July 2009

Price Range

Single-Family

August 2009 through July 2010

Change

August 2008 through July 2009

Condo

August 2009 through July 2010

Change

August 2008 through July 2009

August 2009 through July 2010

Change

$100,000 and below

106

333

+ 214.2%

46

100

+ 117.4%

60

233

+ 288.3%

$100,001 to $225,000

598

763

+ 27.6%

461

589

+ 27.8%

137

174

+ 27.0%

$225,001 to $375,000

495

583

+ 17.8%

375

400

+ 6.7%

120

183

+ 52.5%

$375,001 to $650,000

397

494

+ 24.4%

302

383

+ 26.8%

95

111

+ 16.8%

$650,001 and above

307

377

+ 22.7%

270

332

+ 23.0%

37

45

+ 20.6%

1,903

2,550

+ 34.0%

1,454

1,804

+ 24.1%

449

746

+ 66.1%

All Price Ranges

August 2008 through July 2009

763

598

August 2009 through July 2010

583 495

494 397

333

377 307

106

+ 214.2% $100,000 and below

+ 27.6% $100,001 to $225,000

+ 17.8%

+ 24.4%

+ 22.7%

$225,001 to $375,000

$375,001 to $650,000

$650,001 and above

All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速

7


Housing Supply Outlook July 2010 Percent of List Price Received Last Twelve Months All August 2008 through July 2009

Price Range

August 2009 through July 2010

Single-Family August 2008 through July 2009

Change

Condo

August 2009 through July 2010

Change

August 2008 through July 2009

August 2009 through July 2010

Change

$100,000 and below

92.8%

95.6%

+ 3.0%

94.6%

95.2%

+ 0.6%

91.4%

95.7%

+ 4.8%

$100,001 to $225,000

94.9%

94.9%

+ 0.1%

95.9%

95.8%

- 0.1%

91.3%

92.1%

+ 0.9%

$225,001 to $375,000

93.9%

93.7%

- 0.3%

94.6%

94.4%

- 0.2%

92.0%

92.1%

+ 0.1%

$375,001 to $650,000

93.3%

93.4%

+ 0.1%

93.5%

93.7%

+ 0.3%

92.7%

92.2%

- 0.5%

$650,001 and above

90.3%

91.0%

+ 0.8%

90.0%

90.8%

+ 0.8%

92.1%

92.4%

+ 0.4%

All Price Ranges

93.4%

93.8%

+ 0.4%

91.9%

93.3%

+ 1.5%

93.9%

94.1%

+ 0.2%

August 2008 through July 2009

95.6%

94.9%

August 2009 through July 2010

94.9% 93.9%

93.7%

92.8%

93.3%

93.4%

90.3%

91.0%

+ 3.0%

+ 0.1%

- 0.3%

+ 0.1%

+ 0.8%

$100,000 and below

$100,001 to $225,000

$225,001 to $375,000

$375,001 to $650,000

$650,001 and above

All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速

8


Housing Supply Outlook July 2010 Days on Market Until Sale Last Twelve Months All August 2008 through July 2009

Price Range

Single-Family

August 2009 through July 2010

Change

August 2008 through July 2009

August 2009 through July 2010

Condo August 2008 through July 2009

Change

August 2009 through July 2010

Change

- 21.6%

$100,000 and below

89

77

- 14.4%

78

75

- 3.2%

98

77

$100,001 to $225,000

121

127

+ 4.9%

113

121

+ 7.1%

150

149

- 0.4%

$225,001 to $375,000

148

139

- 6.2%

134

127

- 4.7%

194

165

- 15.2%

$375,001 to $650,000

155

188

+ 20.9%

143

173

+ 20.8%

193

237

+ 23.1%

$650,001 and above

200

218

+ 9.1%

201

225

+ 11.7%

186

160

- 14.0%

All Price Ranges

146

148

+ 1.5%

140

150

+ 7.3%

167

144

- 13.5%

August 2008 through July 2009

August 2009 through July 2010

218 188

148 121

127

200

155 139

89 77

- 14.4%

+ 4.9%

- 6.2%

+ 20.9%

+ 9.1%

$100,000 and below

$100,001 to $225,000

$225,001 to $375,000

$375,001 to $650,000

$650,001 and above

All data provided by Multiple Listing Service of Hilton Head Island - powered by 10K Research and Marketing and sponsored by the South Carolina Association of REALTORS速

9


July 2010 Housing Outlook