april 2012 market reports

Monthly Indicators A RESEARCH TOOL PROVIDED BY THE COASTAL CAROLINAS ASSOCIATION OF REALTORS®

April 2012 Quick Facts

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10111213

All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | 1

- 6.6%Change in

Closed SalesSingle-Family Only

Click on desired metric to jump to that page.

Sometimes the best answers aren't right under your nose. For example, the most popular market indicator is home prices. But prices are what we call a lagging indicator, because they reflect closed sales. Leading indicators are forward-looking. Watch activity related to list price received at sale, days on market and months supply of inventory to see how sellers might be regaining their pricing power. Favorable supply-demand trends may be ticking away from the buyer for the first time in years. Moral of the story: Price is but a single picture in the gallery.

New Listings in the Coastal Carolinas region were down 1.5 percent for detached homes and 17.8 percent for condos. Pending Sales increased 32.9 percent for single-family homes and 26.2 percent for condos.

The Median Sales Price was down 0.3 percent to $157,500 for single-family properties but increased 15.0 percent to $115,000 for condo units. Months Supply of Inventory decreased 27.5 percent for single-family units and 18.7 percent for townhouse-condo units.

When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary Q1-2012 GDP growth came in at 2.2 percent, which, while disappointing to some observers and slower than Q4-2011, still signals economic expansion and not contraction. Expedited bank processing and easing lending standards are also encouraging developments.

- 9.7%Change in

Closed SalesCondo Only

- 8.1%Change in

Closed SalesAll Properties

Single-Family Market OverviewCondo Market OverviewNew ListingsPending SalesClosed SalesDays On Market Until Sale

Months Supply of Inventory

Median Sales PriceAverage Sales PricePercent of List Price ReceivedHousing Affordability IndexInventory of Homes for Sale

Single-Family Market Overview

Key Metrics Historical Sparklines 4-2011 4-2012 + / – YTD 2011 YTD 2012 + / –

All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2

15.2

155 + 22.4%

- 15.9%

- 27.5%

4,098

11.0

138

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

$163,000 $160,000

+ 0.6%

- 1.4% 181 181 + 0.2%

- 1.8%

+ 1.0% 94.4% 95.0%

- 6.9%

- 0.3%

- 6.5%

386 513 + 32.9% 1,451 1,753 + 20.8%

2,975740 729 - 1.5% 3,181

366 342 - 6.6% 1,224

New Listings

Pending Sales

Closed Sales

93.9% 94.8%

Housing Affordability Index

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent ofList Price Received

$209,163

Key market metrics for the current month and year-to-date figures for Single-Family Homes Only.

1,284 + 4.9%

138

4,874

182 179

155 + 22.4%

--

$212,722 $203,794 - 4.2%

$157,950 $157,500

$194,752

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

Condo Market Overview

Key Metrics Historical Sparklines 4-2011 4-2012 + / – YTD 2011 YTD 2012 + / –


--

Months Supplyof Homes for Sale

15.7 12.8 - 18.7% -- -- --

Inventory of Homes for Sale 4,744 4,020 - 15.3% -- --

- 0.3%

Housing Affordability Index 206 208 + 16.1% 206 208 + 16.1%

Percent ofList Price Received

93.9% 94.7% + 0.9% 93.8% 93.5%

- 1.9%

Average Sales Price $129,908 $143,466 + 10.4% $135,806 $132,997 - 2.1%

Median Sales Price $100,000 $115,000 + 15.0% $105,000 $103,000

- 3.1%

Days on Market Until Sale 172 173 + 0.9% 175 175 + 0.3%

Closed Sales 372 336 - 9.7% 1,200 1,163

Key market metrics for the current month and year-to-date figures for Condo Properties Only.

- 7.2%

Pending Sales 378 477 + 26.2% 1,381 1,600 + 15.9%

New Listings 734 603 - 17.8% 2,765 2,566

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

4-2009 4-2010 4-2011 4-2012

New Listings

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 689 - 14.7% 554 - 14.8%

June 736 - 7.5% 596 - 10.1%

July 649 - 18.7% 551 - 6.1%

August 715 - 5.3% 562 - 14.6%

September 606 - 14.3% 509 - 13.9%

October 636 - 4.9% 546 - 2.2%

November 603 - 2.0% 551 + 5.2%

December 455 - 8.3% 443 + 2.8%

January 756 - 1.6% 693 + 6.9%

February 696 - 9.6% 609 - 2.4%

March 794 - 12.1% 661 - 12.9%

April 729 - 1.5% 603 - 17.8%

Total 8,064 - 8.6% 7,015 - 7.3%


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

940

812

740 734 729

603

Single-Family Condo

April

0

250

500

750

1,000

1,250

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical New Listing Activity Single-Family Condo

-17.8% -9.6% -1.5% -21.3%

2012 2011 2010 2012 2011 2010

3,641

3,206 3,181

2,765 2,975

2,566

Single-Family Condo

Year to Date

-7.2% -13.8% -6.5% -12.6%

2012 2011 2010 2012 2011 2010

Pending Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 383 + 27.7% 321 + 9.6%

June 365 + 11.6% 280 - 11.9%

July 393 + 22.4% 273 + 0.4%

August 357 + 9.5% 333 + 2.8%

September 344 + 22.0% 262 - 10.6%

October 329 + 0.9% 268 - 13.5%

November 293 + 5.0% 236 - 3.7%

December 252 + 5.4% 197 + 10.1%

January 336 + 14.3% 332 + 22.5%

February 408 + 18.6% 372 + 11.7%

March 496 + 16.2% 419 + 5.0%

April 513 + 32.9% 477 + 26.2%

Total 4,469 + 16.0% 3,820 + 4.4%


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

472

370 386 378

513 477

Single-Family Condo

April

0

250

500

750

1,000

1,250

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Pending Sales Activity Single-Family Condo

+26.2% +2.2% +32.9% -18.2%

2012 2011 2010 2012 2011 2010

1,486

1,259

1,451 1,381

1,753

1,600

Single-Family Condo

Year to Date

+15.9% +9.7% +20.8% -2.4%

2012 2011 2010 2012 2011 2010

Closed Sales

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 360 - 6.3% 353 + 8.0%

June 405 - 11.6% 355 + 6.6%

July 349 + 10.8% 284 0.0%

August 390 + 18.2% 288 - 8.6%

September 353 + 9.6% 298 - 2.0%

October 341 + 18.0% 265 - 2.9%

November 336 + 31.8% 239 - 4.4%

December 323 - 1.8% 258 - 11.6%

January 271 + 11.5% 209 - 0.5%

February 292 + 15.9% 270 + 13.0%

March 379 + 4.4% 348 - 8.2%

April 342 - 6.6% 336 - 9.7%

Total 4,141 + 6.0% 3,542 - 2.4%


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

358

320

366 372

342 336

Single-Family Condo

April

0

250

500

750

1,000

1,250

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Closed Sales Activity Single-Family Condo

-9.7% +16.3% -6.6% +2.2%

2012 2011 2010 2012 2011 2010

1,144 1,110

1,224 1,200

1,284

1,163

Single-Family Condo

Year to Date

-3.1% +8.1% +4.9% +7.0%

2012 2011 2010 2012 2011 2010

Days on Market Until Sale

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 161 - 0.4% 187 + 13.8%

June 184 + 13.9% 183 + 2.2%

July 182 + 7.8% 185 + 8.9%

August 174 + 8.8% 176 + 1.5%

September 178 + 3.1% 196 + 13.8%

October 200 + 10.0% 195 + 8.2%

November 183 + 7.1% 169 - 7.7%

December 176 + 0.3% 166 - 10.4%

January 182 - 7.2% 182 - 2.6%

February 186 + 17.3% 184 + 5.0%

March 177 - 3.8% 167 - 2.5%

April 179 - 1.4% 173 + 0.9%

Total 180 + 4.6% 180 + 2.4%


Average number of days between when a property is listed and when an offer is accepted in a given month.

175

157

182 172

179 173

Single-Family Condo

April

0

50

100

150

200

250

300

350

400

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Days on Market Until Sale Single-Family Condo

+0.9% +9.3% -1.4% +3.8%

2012 2011 2010 2012 2011 2010

178 168

181 175

181 175

Single-Family Condo

Year to Date

+0.3% +4.0% +0.2% +1.6%

2012 2011 2010 2012 2011 2010

Median Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 160,000 - 3.9% 110,000 - 9.1%

June 178,000 + 8.3% 117,500 - 4.9%

July 162,250 - 13.1% 110,000 - 4.3%

August 163,000 - 16.4% 99,950 - 13.1%

September 164,250 - 3.4% 108,750 - 5.4%

October 167,498 - 9.2% 105,000 - 10.3%

November 157,500 - 12.9% 92,000 - 20.0%

December 162,248 - 1.7% 108,000 - 1.8%

January 159,900 + 2.5% 91,750 - 14.6%

February 170,915 + 3.6% 95,000 - 5.0%

March 159,900 - 10.7% 104,000 - 5.4%

April 157,500 - 0.3% 115,000 + 15.0%

Median 164,000 - 4.0% 108,950 - 5.3%


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

$167,000

$118,950

$157,950

$100,000

$157,500

$115,000

Single-Family Condo

April

$75,000

$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000

$275,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Median Sales Price Single-Family Condo

+15.0% -15.9% -0.3% -5.4%

2012 2011 2010 2012 2011 2010

$174,900

$119,995

$163,000

$105,000

$160,000

$103,000

Single-Family Condo

Year to Date

-1.9% -12.5% -1.8% -6.8%

2012 2011 2010 2012 2011 2010

Average Sales Price

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 196,421 - 11.0% 149,441 + 0.5%

June 225,291 + 6.5% 146,627 - 1.1%

July 203,465 - 6.1% 145,251 - 8.6%

August 195,946 - 16.9% 123,658 - 16.2%

September 207,648 - 1.7% 137,638 + 0.3%

October 220,292 + 0.0% 154,308 + 1.9%

November 205,868 - 11.5% 132,004 - 17.3%

December 221,155 + 12.9% 133,374 - 4.5%

January 203,746 + 5.4% 123,451 - 14.0%

February 205,867 - 1.5% 129,473 + 3.1%

March 210,487 - 9.1% 131,355 - 8.6%

April 194,752 - 6.9% 143,466 + 10.4%

Average 191,165 - 3.3% 137,987 - 4.4%


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

$213,979

$150,947

$209,163

$129,908

$194,752

$143,466

Single-Family Condo

April

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Average Sales Price Single-Family Condo

+ 10.4% - 13.9% - 6.9% - 2.3%

2012 2011 2010 2012 2011 2010

$215,664

$149,608

$212,722

$135,806

$203,794

$132,997

Single-Family Condo

Year to Date

- 2.1% - 9.2% - 4.2% - 1.4%

2012 2011 2010 2012 2011 2010

Percent of List Price Received

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 93.9% - 1.5% 93.8% - 0.6%

June 94.4% - 0.4% 93.3% - 0.3%

July 94.3% - 0.6% 91.9% - 2.7%

August 94.0% - 0.6% 94.9% + 1.5%

September 94.7% + 0.1% 93.2% + 0.5%

October 94.2% - 0.8% 92.0% - 1.5%

November 94.2% + 0.3% 93.7% + 1.0%

December 94.1% - 0.2% 93.1% - 0.6%

January 95.5% + 1.6% 92.7% - 1.8%

February 95.3% + 0.8% 93.3% - 0.4%

March 94.6% - 0.7% 93.1% - 0.5%

April 94.8% + 1.0% 94.7% + 0.9%

Average 89.1% + 0.4% 87.6% + 0.7%


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.

94.1% 94.5% 93.9% 93.9% 94.8% 94.7%

Single-Family Condo

April

90%

92%

94%

96%

98%

100%

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Percent of List Price Received Single-Family Condo

+0.9% -0.7% +1.0% -0.3%

2012 2011 2010 2012 2011 2010

94.3% 94.1% 94.4% 93.8% 95.0% 93.5%

Single-Family Condo

Year to Date

-0.3% -0.3% +0.6% +0.1%

2012 2011 2010 2012 2011 2010

Housing Affordability Index

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 138 + 7.8% 195 + 17.5%

June 128 + 8.1% 187 + 12.6%

July 138 - 3.3% 196 + 7.4%

August 141 + 13.5% 216 + 4.5%

September 142 + 18.8% 206 + 13.7%

October 138 + 6.6% 210 + 8.0%

November 147 + 10.7% 232 + 10.9%

December 143 + 14.4% 207 + 20.4%

January 148 + 5.3% 238 + 5.3%

February 144 + 7.8% 238 + 23.2%

March 150 + 10.2% 221 + 17.2%

April 155 + 22.4% 208 + 16.1%

Average 143 + 10.2% 213 + 13.1%

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.


128

175

138

206

155

208

Single-Family Condo

April

75

100

125

150

175

200

225

250

1-2008 1-2009 1-2010 1-2011 1-2012

Historical Housing Affordability Index Single-Family Condo

+16.1% +9.2% +22.4% -2.1%

2012 2011 2010 2012 2011 2010

128

175

138

206

155

208

Single-Family Condo

Year to Date

+16.1% +9.2% +22.4% -2.1%

2012 2011 2010 2012 2011 2010

Inventory of Homes for Sale

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 4,814 - 9.8% 4,710 - 15.4%

June 4,808 - 9.3% 4,689 - 13.9%

July 4,709 - 11.1% 4,628 - 14.4%

August 4,666 - 10.7% 4,534 - 14.5%

September 4,557 - 11.5% 4,464 - 13.5%

October 4,528 - 10.5% 4,420 - 11.3%

November 4,499 - 10.0% 4,428 - 9.8%

December 4,234 - 10.6% 4,270 - 9.3%

January 4,281 - 10.0% 4,313 - 7.7%

February 4,253 - 11.9% 4,287 - 8.4%

March 4,194 - 14.7% 4,215 - 10.5%

April 4,098 - 15.9% 4,020 - 15.3%

Average 3,287 - 16.7% 4,105 - 15.0%


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

5,272 5,586

4,874 4,744

4,098 4,020

Single-Family Condo

April

500

1,500

2,500

3,500

4,500

5,500

6,500

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Inventory of Homes for Sale Single-Family Condo

-15.3% -15.1% -15.9% -7.5%

2012 2011 2010 2012 2011 2010

Months Supply of Inventory

MonthSingle-Family

YoYChg.

CondoYoYChg.

May 14.7 - 10.0% 16 - 21.4%

June 14.5 - 9.6% 15.6 - 17.5%

July 14.0 - 12.7% 15.4 - 18.7%

August 13.7 - 13.6% 15.1 - 18.3%

September 13.2 - 16.8% 14.9 - 16.8%

October 13.1 - 16.2% 15.0 - 13.3%

November 13.0 - 15.7% 15.0 - 10.6%

December 12.2 - 16.6% 14.4 - 10.8%

January 12.2 - 17.0% 14.3 - 11.2%

February 11.9 - 19.6% 14.1 - 11.1%

March 11.6 - 22.7% 13.8 - 12.1%

April 11.0 - 27.5% 12.8 - 18.7%

Average 10.1 - 27.1% 12.9 - 18.6%


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.

16.1

19.9

15.2 15.7

11.0 12.8

Single-Family Condo

April

0

5

10

15

20

25

30

12-2004 12-2005 12-2006 12-2007 12-2008 12-2009 12-2010 12-2011

Historical Months Supply of Inventory Single-Family Condo

-18.7% -21.0% -27.5% -5.7%

2012 2011 2010 2012 2011 2010

Grand Strand Market Report Contents Active Inventory 2

SFR Inventory Trends 3

Condo Inventory Trends 4

Closed Sales – SFR 5

Avg. Sales Price – SFR 6

Median Sales Price – SFR 7

Median Sales Price – SFR (Distressed & Non-Distressed) 8

Median Sales Price – SFR (Cash & Conventional Transactions) 9

SFR Sales – (% Cash vs. % Conventional) 10

Sales to List Price Ratio – SFR 11

Closed Sales – Condo 12

Avg. Sales Price – Condo 13

Median Sales Price – Condo 14

Median Sales Price–Condo (Distressed & Non-Distressed) 15

Median Sales Price – Condo (Cash & Conventional Transactions) 16

Condo Sales – (% Cash vs. % Conventional) 17

Sales to List Price Ratio – Condo 18

Closed Sales – Residential Lot 19

Avg. Sales Price – Residential Lot 20

Median Sales Price – Residential Lot 21

Median Sales Price – Res. Lot (Non-Distressed) 22

Sold to List Price Ratio – Residential Lot 23

Distressed Inventory 24

Distressed Sales 25

April 2012

Research powered by SiteTech Systems

After a strong first quarter performance, Single Family Residential (SFR) sales slipped in April. For the month, SFR sales fell 6.7% from last month and 7.9% from April, 2011. Year to date, SFR sales is up 4% from 2011 levels. Consistent with March, SFR Median Sales Price remained flat at $165,000. As expected, SFR inventory seasonally increased to 4,697 homes. The current inventory is down approximately 6% from 2011 levels. It is anticipated that the inventory will peak in May before declining. Condo activity was filled with mixed results. Condo inventory fell from March while sales remained flat to March’s level. However, Condo sales are down 10% from April, 2011 and approximately off 3% for the full year (as compared to 2011). Offsetting flat sales was an increase the Median Sales Price for condo. Driven by more financed transactions and higher average cash transaction size, April was the second consecutive month of Condo sales price improvement. Residential lot sales activity continues to improve. The improvement continues to be at the expense of price as Median Sales Price of Residential Lots is $30,000. Distressed activity continues to be a consistent part of the area sales activity accounting for 28 – 33% of all

transactions.

Grand Strand Active Inventory

Single Family Residential # Listings

Horry Co. 3,850

Georgetown Co. 847

Total 4,697

Average List Price $343,102

Median List Price $224,990

Condo/Townhome # Listings

Horry Co. 4,306

Georgetown Co. 442

Total 4,748



Horry Co.

G’town Co.

Less than $150k 1,121 95

$150k - $250k 1,343 157

$250k - $500k 983 318

$500k - $1.0 MM 303 170

$1 MM + 100 107

Horry Co.

G’town Co.

Less than $100k 1,431 66

$100k - $150k 1,096 89

$150k - $200k 626 72

$200k - $400k 843 121

$400k -$750k 251 65

$750+ 59 29

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,975

Georgetown Co. 734

Total 2,709



Horry Co.

G’town Co.

Less than $25k 366 44

$25k - $50k 672 89

$50k - $75k 293 78

$75k-100k 191 99

$100k-175k 199 153

$175k -250k 109 114

$250k+ 145 157

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

April 2011 4,996

April 2012 4,697

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

# of

Lis

ting

s

Grand Strand SFR Inventory

April 2011 851 April 2012

819

600

650

700

750

800

850

900

950

# of

Dis

tres

sed

List

ings

Grand Strand Distressed SFR Listings

Grand Strand Condo Inventory Trends


April 2012 5,048

April 2012 4,748

4,000 4,200 4,400 4,600 4,800 5,000 5,200 5,400 5,600 5,800 6,000

# of

Lis

ting

s

Grand Strand Condo Inventory

April 2012 889

April 2012 822

700

750

800

850

900

950

1000

# of

Dis

tres

sed

Grand Strand Distressed Condo Listings

Closed Sales - SFR

April Year to Date

April 2012305

100150200250300350400450500550600

Jan 05 Jul 05 Jan 06 Jul 06 Jan 07 Jul 07 Jan 08 Jul 08 Jan 09 Jul 09 Jan 10 Jul 10 Jan 11 Jul 11 Jan 12

Historical Activity


330 331

305

2010 2011 2012

1,049

1,1351,180

2010 2011 2012

Average Sales Price - SFR April Year to Date

April 2012$226,028

$195,000

$225,000

$255,000

$285,000

$315,000

$345,000

$375,000


Historical Activity


$226,940 $226,307

$222,437

2010 2011 2012

$229,485

$226,427

$228,932

2010 2011 2012

Median Sales Price - SFR April

$171,500

$164,000

$169,990

2010 2011 2012

Year to Date

April 2012$169,990

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000


Historical Activity


$184,000

$170,000$174,900

2010 2011 2012

Median Sales Price – SFR Distressed & Non-Distressed


$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000

Non-Distressed

Distressed

Combined

Median Sales Price – SFR Cash & Conventional Transactions


$125,000

$135,000

$145,000

$155,000

$165,000

$175,000

$185,000

$195,000

$205,000

$215,000

$225,000

Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12

Cash

Conventional

Combined

SFR Sales % Cash vs. % Conventional


0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

% Cash

% Conventional

Sold to List Price Ratio - SFR

April

89%

86%

91%

2010 2011 2012

Year to Date

April 201291%

83

85

87

89

91

93

95

97

99


Historical Activity


89%

87%

90%

2010 2011 2012

Closed Sales - Condo April

322

371

333

2010 2011 2012

Year to Date

Historical Activity

12

April 2012333

50

250

450

650

850

1050


Research performed by SiteTech Systems

1,110

1,1921,160

2010 2011 2012

Average Sales Price - Condo April Year to Date

April 2012$141,857

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Jan 05 Jul 05 Jan 06 Jul 06 Jan 07 Jul 07 Jan 08 Jul 08 Jan 09 Jul 09 10-Jan 10-Jul 11-Jan 11-Jul Jan 12

Historical Activity


$152,253

$133,738

$141,857

2010 2011 2012

$150,067

$136,851 $131,486

2010 2011 2012

Median Sales Price - Condo April

$121,000

$105,000

$115,000

2010 2011 2012

Year to Date

April 2012$115,000

$75,000

$95,000

$115,000

$135,000

$155,000

$175,000

$195,000

$215,000

$235,000

$255,000

$275,000


Historical Activity


$120,000

$105,000 $103,000

2010 2011 2012

Median Sales Price – Condo Distressed & Non-Distressed


$60,000

$70,000

$80,000

$90,000

$100,000

$110,000

$120,000

$130,000

$140,000

Non-Distressed

Distressed

Combined

Median Sales Price – Condo Cash & Conventional Transactions


$50,000

$70,000

$90,000

$110,000

$130,000

$150,000

$170,000

Jan-

10

Feb-

10

Mar

-10

Apr

-10

May

-10

Jun-

10

Jul-1

0 A

ug-1

0 Se

p-10

O

ct-1

0 N

ov-1

0 D

ec-1

0 Ja

n-11

Fe

b-11

M

ar-1

1 A

pr-1

1 M

ay-1

1 Ju

n-11

Ju

l-11

Aug

-11

Sep-

11

11-O

ct

11-N

ov

Dec

-11

Jan-

12

12-F

eb

Mar

-12

Apr

-12

Cash

Conventional

Combined

Condo Sales % Cash vs. % Conventional


0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

% Cash

% Conventional

Sold to List Price Ratio - Condo April

86%87%

89%

2010 2011 2012

Year to Date

April 201289%

75

80

85

90

95

100

105


Historical Activity


85%

87% 87%

2010 2011 2012

Closed Sales – Residential Lot

5365

121

2010 2011 2012

Year to Date

April 2012121

10

60

110

160

210

260

310


Historical Activity

19

April

Research performed by SiteTech Systems

186221

341

2010 2011 2012

Average Sales Price – Residential Lot April Year to Date

April 2012$52,194

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000


Historical Activity


$52,258

$103,402

$52,194

2010 2011 2012

$79,830 $75,986 $64,649

2010 2011 2012

Median Sales Price – Residential Lot April

$31,000

$43,750

$30,000

2010 2011 2012

Year to Date

April 2012$30,000

$0

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000


Historical Activity


$52,450

$38,000 $33,000

2010 2011 2012

Median Sales Price – Res. Lot (Non-Distressed)

April

$42,750

$66,450 $60,000

2010 2011 2012

Year to Date

Historical Activity


$59,000$55,000

$49,250

2010 2011 2012

April 2012 $60,000

$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

Jan 10

Apr 10

Jul 10

Oct 10

Jan 11

Apr 11

Jul 11

Oct 10

Jan 12

Sold to List Price Ratio – Residential Lot April Year to Date

77%

72%

69%

2010 2011 2012

April 201267%

40

50

60

70

80

90

100

110


Historical Activity


74%72%

67%

2010 2011 2012

Grand Strand Distressed Inventory

Single Family Residential # Listings

Horry Co. 739

Georgetown Co. 80

Total 819



Condo/Townhome # Listings

Horry Co. 780

Georgetown Co. 42

Total 822



Horry Co.

G’town Co.


$150k - $250k 185 23

$250k - $500k 90 17

$500k - $1.0 MM 28 8

$1 MM + 6 4

Distribution by Price Range


Residential Lot # Listings

Horry Co. 395

Georgetown Co. 72

Total 467



Horry Co.

G’town Co.


$25k - $50k 146 10

$50k - $75k 32 11

$75k-100k 20 19

$100k-175k 22 9

$175k -250K 7 11

$250K + 12 7

Horry Co.

G’town Co.


$100k - $150k 135 14

$150k - $200k 83 2

$200k - $400k 100 2

$400k -$750k 14 5

$750+ 1 -

Distressed Sales Total

116

210159185

228219189191170177161165170154157165213

180

Nov Jan Mar May July Sep Nov Jan Mar

SFR

55

100

67 84

116 106

81 99

82 81 80 89 95

72 87

78

102

77

Nov Jan Mar May July Sep Nov Jan Mar

Condo


61

110 92 101

112 113 108 92 88 96

81 76 75 82 70

87 111 103

Nov Feb May August Nov Feb

% Total Sales

26

37 38 44

34 34 29 29 30 29 28

32 33 30 37

32 33 28

Nov Feb May August Nov Feb

April 2012 Quick Facts

Housing Supply Overview

+ 7.4% + 4.9%Headline numbers can often mask important variations across different areas and property types, rendering segment-specific statistics that much more important. For the 12-month period spanning May 2011 through A il 2012 Cl d S l i h C l C li i 2 1

+ 6.2%

Price Range With the Bedroom Count With Property Type With

A RESEARCH TOOL PROVIDED BY THE COASTAL CAROLINAS ASSOCIATION OF REALTORS®

$150,000 and Below 4 Bedrooms or More

234567

Median Sales PricePercent of List Price ReceivedInventory of Homes for SaleMonths Supply of Inventory

All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Powered by 10K Research and Marketing. | 1

April 2012, Closed Sales in the Coastal Carolinas region were up 2.1 percent overall. The price range with the largest gain in sales was the $150,000 and Below range, where they increased 7.4 percent.

The overall Median Sales Price was down 4.1 percent to $139,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 4.0 percent to $164,000. The price range that tended to sell the quickest was the $150,000 and Below range at 169 days; the price range that tended to sell the slowest was the $300,001 and Above range at 212 days.

Market-wide, inventory levels were down 16.6 percent. The property type that lost the least inventory was the Townhouse-Condo segment, where it decreased 15.3 percent. That amounts to 11.0 months supply for Single-Family homes and 12.8 months supply for Condos.

Click on desired metric to jump to that page.

Price Range With the Strongest Sales:

Bedroom Count With Strongest Sales:

Property Type With Strongest Sales:

Single-Family Homes

Closed SalesDays on Market Until Sale

Closed Sales A count of the actual sales that have closed. Based on a rolling 12-month total.

3,774

1,329

832546

1,003

4,052

1,328

785562

917

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above

By Price Range4-2011 4-2012

2,246

3,722

1,265

2,251

3,784

1,344

2 Bedrooms or Less

3 Bedrooms 4 Bedrooms or More

By Bedroom Count4-2011 4-2012

+ 7.4%

3,462

3,395

3,630

3,320

Single-Family Homes Condos

By Property Type4-2011 4-2012

- 0.1% - 5.6% + 2.9% - 8.6% + 4.9% - 2.2%+ 0.2% + 1.7% + 6.2%

By Price Range 4-2011 4-2012 Change 4-2011 4-2012 Change 4-2011 4-2012 Change

$150,000 and Below 3,774 4,052 + 7.4% 1,459 1,707 + 17.0% 2,315 2,345 + 1.3%

$150,001 to $200,000 1,329 1,328 - 0.1% 840 853 + 1.5% 489 475 - 2.9%

$200,001 to $250,000 832 785 - 5.6% 559 528 - 5.5% 273 257 - 5.9%

$250,001 to $300,000 546 562 + 2.9% 359 383 + 6.7% 187 179 - 4.3%

$300,001 and Above 1,003 917 - 8.6% 689 670 - 2.8% 314 247 - 21.3%

All Price Ranges 7,484 7,644 + 2.1% 3,462 3,630 + 4.9% 3,395 3,320 - 2.2%

By Bedroom Count 4-2011 4-2012 Change 4-2011 4-2012 Change 4-2011 4-2012 Change

2 Bedrooms or Less 2,246 2,251 + 0.2% 244 258 + 5.7% 2,002 1,993 - 0.4%

3 Bedrooms 3,722 3,784 + 1.7% 2,536 2,665 + 5.1% 1,186 1,119 - 5.6%

4 Bedrooms or More 1,265 1,344 + 6.2% 1,125 1,218 + 8.3% 140 126 - 10.0%

All Bedroom Counts 7,484 7,644 + 2.1% 3,462 3,630 + 4.9% 3,395 3,320 - 2.2%


All Properties Single-Family Homes Condos

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.

164174 174 180

214

169

190182

198212

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


171168

198

176178

194

2 Bedrooms or Less



+ 3.2%

172

175

180 180



+ 9.1% + 4.2% + 10.3% - 0.9% + 4.6% + 2.8%+ 2.9% + 6.0% - 1.7%


$150,000 and Below 164 169 + 3.2% 157 171 + 8.4% 168 168 - 0.1%

$150,001 to $200,000 174 190 + 9.1% 165 177 + 6.7% 188 214 + 13.8%

$200,001 to $250,000 174 182 + 4.2% 166 176 + 6.0% 192 193 + 0.5%

$250,001 to $300,000 180 198 + 10.3% 177 188 + 6.0% 185 228 + 22.8%

$300,001 and Above 214 212 - 0.9% 220 212 - 3.5% 199 212 + 6.4%

All Price Ranges 174 180 + 3.7% 172 180 + 4.6% 175 180 + 2.8%


2 Bedrooms or Less 171 176 + 2.9% 163 179 + 10.2% 172 176 + 2.0%

3 Bedrooms 168 178 + 6.0% 163 175 + 7.7% 180 185 + 3.1%

4 Bedrooms or More 198 194 - 1.7% 196 191 - 2.6% 209 226 + 7.9%

All Bedroom Counts 174 180 + 3.7% 172 180 + 4.6% 175 180 + 2.8%



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

$99,000

$155,000

$270,000

$90,000

$150,000

$252,000

2 Bedrooms or Less 3 Bedrooms 4 Bedrooms or More


$145,000

$170,828

$115,000

$139,000

$164,000

$108,000



- 4.0% - 6.1%- 9.1% - 3.2% - 4.1%- 6.7%


2 Bedrooms or Less $99,000 $90,000 - 9.1% $110,000 $90,700 - 17.5% $98,000 $90,000 - 8.2%

3 Bedrooms $155,000 $150,000 - 3.2% $155,000 $149,900 - 3.3% $155,000 $157,475 + 1.6%

4 Bedrooms or More $270,000 $252,000 - 6.7% $265,000 $250,000 - 5.7% $290,000 $297,000 + 2.4%

All Bedroom Counts $145,000 $139,000 - 4.1% $170,828 $164,000 - 4.0% $115,000 $108,000 - 6.1%



p g y

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.

93.7%

95.2%95.0%

95.4%

93.1%93.4%

95.0%

94.6%

95.2%

93.8%

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


93.2%

94.8%

93.8%

92.9%

94.6%

93.9%

2 Bedrooms or Less



- 0.3%

94.6%

93.6%

94.4%

93.3%



- 0.2% - 0.4% - 0.3% + 0.7% - 0.2% - 0.3%- 0.3% - 0.2% + 0.1%


$150,000 and Below 93.7% 93.4% - 0.3% 94.0% 93.6% - 0.4% 93.5% 93.2% - 0.3%

$150,001 to $200,000 95.2% 95.0% - 0.2% 95.9% 95.7% - 0.2% 94.0% 93.9% - 0.1%

$200,001 to $250,000 95.0% 94.6% - 0.4% 95.6% 95.6% - 0.0% 93.8% 92.8% - 1.1%

$250,001 to $300,000 95.4% 95.2% - 0.3% 96.2% 96.0% - 0.2% 93.9% 93.0% - 1.0%

$300,001 and Above 93.1% 93.8% + 0.7% 92.9% 93.7% + 0.9% 93.8% 94.3% + 0.4%

All Price Ranges 94.1% 93.9% - 0.2% 94.6% 94.4% - 0.2% 93.6% 93.3% - 0.3%


2 Bedrooms or Less 93.2% 92.9% - 0.3% 92.1% 91.2% - 0.9% 93.3% 93.2% - 0.2%

3 Bedrooms 94.8% 94.6% - 0.2% 95.2% 95.0% - 0.2% 94.0% 93.7% - 0.3%

4 Bedrooms or More 93.8% 93.9% + 0.1% 93.9% 93.9% + 0.1% 93.5% 93.5% + 0.0%

All Bedroom Counts 94.1% 93.9% - 0.2% 94.6% 94.4% - 0.2% 93.6% 93.3% - 0.3%



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.

4,071

1,596

946768

2,237

3,327

1,287

866660

1,978

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


3,014

4,250

2,051

2,599

3,552

1,734

2 Bedrooms or Less



- 18.3%

4,874 4,744

4,098 4,020



- 19.4% - 8.5% - 14.1% - 11.6% - 15.9% - 15.3%- 13.8% - 16.4% - 15.5%


$150,000 and Below 4,071 3,327 - 18.3% 1,492 1,103 - 26.1% 2,579 2,224 - 13.8%

$150,001 to $200,000 1,596 1,287 - 19.4% 874 720 - 17.6% 722 567 - 21.5%

$200,001 to $250,000 946 866 - 8.5% 565 538 - 4.8% 381 328 - 13.9%

$250,001 to $300,000 768 660 - 14.1% 474 409 - 13.7% 294 251 - 14.6%

$300,001 and Above 2,237 1,978 - 11.6% 1,469 1,328 - 9.6% 768 650 - 15.4%

All Price Ranges 9,618 8,118 - 15.6% 4,874 4,098 - 15.9% 4,744 4,020 - 15.3%


2 Bedrooms or Less 3,014 2,599 - 13.8% 304 255 - 16.1% 2,710 2,344 - 13.5%

3 Bedrooms 4,250 3,552 - 16.4% 2,768 2,314 - 16.4% 1,482 1,238 - 16.5%

4 Bedrooms or More 2,051 1,734 - 15.5% 1,801 1,528 - 15.2% 250 206 - 17.6%

All Bedroom Counts 9,618 8,118 - 15.6% 4,874 4,098 - 15.9% 4,744 4,020 - 15.3%



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.

13.014.4 13.9

17.1

26.5

9.010.9

12.7 13.4

24.6

$150,000 and Below

$150,001 to $200,000

$200,001 to $250,000

$250,001 to $300,000

$300,001 and Above


16.2

13.7

19.5

12.8

10.5

14.2

2 Bedrooms or Less



- 30.7%

15.2 15.7

11.0

12.8



- 24.4% - 8.5% - 21.9% - 7.3% - 27.5% - 18.7%- 21.0% - 23.0% - 27.3%


$150,000 and Below 13.0 9.0 - 30.7% 12.5 7.0 - 44.2% 13.3 10.5 - 21.0%

$150,001 to $200,000 14.4 10.9 - 24.4% 12.9 9.5 - 26.0% 16.7 13.2 - 20.9%

$200,001 to $250,000 13.9 12.7 - 8.5% 12.5 11.7 - 6.3% 16.6 14.8 - 11.0%

$250,001 to $300,000 17.1 13.4 - 21.9% 15.8 12.1 - 23.1% 19.8 16.0 - 19.2%

$300,001 and Above 26.5 24.6 - 7.3% 25.1 22.4 - 10.7% 29.8 30.8 + 3.4%

All Price Ranges 15.5 11.8 - 23.5% 15.2 11.0 - 27.5% 15.7 12.8 - 18.7%


2 Bedrooms or Less 16.2 12.8 - 21.0% 15.7 10.4 - 33.6% 16.2 13.1 - 19.3%

3 Bedrooms 13.7 10.5 - 23.0% 13.4 9.8 - 26.9% 14.4 12.4 - 13.7%

4 Bedrooms or More 19.5 14.2 - 27.3% 19.1 13.8 - 27.9% 22.9 18.0 - 21.2%

All Bedroom Counts 15.5 11.8 - 23.5% 15.2 11.0 - 27.5% 15.7 12.8 - 18.7%



april 2012 market reports

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popular market indicator

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coastal carolinas region