Download - July 2013 monthly sales trend broker
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
July 2013
Research powered by
SiteTech Systems
Single Family Residential Sales Grew 12.5% in July Single Family Residential (SFR) sales continued its strong first half performance as SFR sales volume is up 12.5% as compared to July 2012. Year-to-date (YTD), SFR sales are up 20.1% from 2012 levels. In addition to strong SFR sales, the median sales price of SFRs was $177,836, which is in line with full year performance. YTD, the median sales price is up 4.77% for the year. During July, the inventory of home for sales continued its seasonal decline, however levels are still up 4.54% from prior year levels. It is anticipated that after the seasonal peak in May, inventory will continue its seasonal decline for the balance of 2013. The inventory of distressed homes for sale continued to decline and is now 32.6% below its prior year level. For condos, the inventory continues its slow decline and the current inventory is down 8.43% from July 2012 and distressed inventory is sharply down 43.7% over the last year. During July, year over year condo sales improved 17.0%. The median sales price for condo is up 16.4% from last year. YTD, the median sales price of condos are up 2.6%. Residential lot sales are in line with 2012 performance, both in July and YTD total sales. The median sales price of residential lots is flat compared to June and the YTD sales price is up 26.0% from 2012.
Grand Strand Active Inventory
Single Family Residential # Listings
Horry Co. 4,046
Georgetown Co. 904
Total 4,950
Average List Price $337,899
Median List Price $230,000
Condo/Townhome
# Listings
Horry Co. 3,777
Georgetown Co. 390
Total 4,167
Average List Price $185,118
Median List Price $135,000
Horry Co.
G’town Co.
Less than $150k 1,035 90
$150k - $250k 1,462 184
$250k - $500k 1,174 352
$500k - $1.0 MM 274 163
$1 MM + 101 115
Horry Co.
G’town Co.
Less than $100k 1,208 45
$100k - $150k 965 91
$150k - $200k 649 70
$200k - $400k 740 96
$400k -$750k 175 62
$750+ 40 26
Distribution by Price Range
2 Research performed by SiteTech Systems
Residential Lot # Listings
Horry Co. 1,599
Georgetown Co. 756
Total 2,355
Average List Price $131,260
Median List Price $60,000
Horry Co.
G’town Co.
Less than $25k 355 73
$25k - $50k 499 93
$50k - $75k 228 89
$75k-100k 150 104
$100k-175k 158 147
$175k -250k 92 115
$250k+ 117 135
Grand Strand SFR Inventory Trends
Research performed by SiteTech Systems 3
July 2010 5,378
July 2011 4,992
July 2012 4,735
July 2013 4,950
4,000
4,200
4,400
4,600
4,800
5,000
5,200
5,400
5,600
May
-10
Jun
-10
Jul-
10
Au
g-1
0
Sep
-10
Oct
-10
No
v-1
0
De
c-1
0
Jan
-11
Feb
-11
Mar
-11
Ap
r-1
1
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Nu
mb
er
of
List
ings
Grand Strand SFR Inventory
July 2010 750
July 2011 847
July 2012 789
July 2013 532
500
600
700
800
900
1,000
May
-10
Jun
-10
Jul-
10
Au
g-1
0
Sep
-10
Oct
-10
No
v-1
0
De
c-1
0
Jan
-11
Feb
-11
Mar
-11
Ap
r-1
1
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Nu
mb
er
of
Dis
tre
sse
d L
isti
ngs
Grand Strand SFR Distressed Inventory
Grand Strand Condo Inventory Trends
Research performed by SiteTech Systems 4
July 2010 5,655
July 2011 5,014
July 2012 4,509
July 2013 4,167
3,500
4,000
4,500
5,000
5,500
6,000
May
-10
Jun
-10
Jul-
10
Au
g-1
0
Sep
-10
Oct
-10
No
v-1
0
De
c-1
0
Jan
-11
Feb
-11
Mar
-11
Ap
r-1
1
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Nu
mb
er
of
List
ings
Grand Strand Condo Inventory
July 2010 981
July 2011 850
July 2012 727
July 2013 423
400
500
600
700
800
900
1,000
1,100
May
-10
Jun
-10
Jul-
10
Au
g-1
0
Sep
-10
Oct
-10
No
v-1
0
De
c-1
0
Jan
-11
Feb
-11
Mar
-11
Ap
r-1
1
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13N
um
be
r o
f D
istr
ess
ed
Lis
tin
gs
Grand Strand Condo Distressed Inventory
Closed Sales - SFR
July Year to Date
5 Research performed by SiteTech Systems
314407
458
2011 2012 2013
2,1412,544
2,949
2011 2012 2013
July 2013 458
100
150
200
250
300
350
400
450
500
550
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Nu
mb
er
of
SFR
Sal
es
Historical SFR Sales Activity
Average Sales Price - SFR July Year to Date
6 Research performed by SiteTech Systems
$219,217
$218,301 $218,229
2011 2012 2013
$226,314
$217,299
$223,687
2011 2012 2013
July 2013 $218,229
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Ave
rage
Sal
es
Pri
ce
Historical SFR Average Sale Prices
Median Sales Price - SFR July
$170,250 $171,080
$177,836
2011 2012 2013
Year to Date
7 Research performed by SiteTech Systems
$174,000
$169,900
$178,000
2011 2012 2013
July 2013 $177,836
$150,000
$160,000
$170,000
$180,000
$190,000
$200,000
$210,000
$220,000
$230,000
$240,000
$250,000
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Me
dia
n S
ale
s P
rice
s
Historical SFR Median Sale Prices
Median Sales Price – SFR Distressed & Non-Distressed
8 Research performed by SiteTech Systems
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000M
ar-1
1
Ap
r-1
1
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
MedianSales Price
Distressed SalesMedian Sales Price
Non-Distressed SalesMedian Sales Price
Median Sales Price – SFR Cash & Conventional Transactions
9 Research performed by SiteTech Systems
$125,000
$135,000
$145,000
$155,000
$165,000
$175,000
$185,000
$195,000A
pr-
11
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
MedianSales Price
CashMedian Sales Price
ConventionalMedian Sales Price
SFR Sales % Cash vs. % Conventional
Research performed by SiteTech Systems 10
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Cash% of Closed Sales
Conventional% of Closed Sales
Sold to List Price Ratio - SFR
July
89%
91%
93%
2011 2012 2013
Year to Date
11 Research performed by SiteTech Systems
88%
91%
93%
2011 2012 2013
July 2013 93%
80
85
90
95
100
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Sold
to
Lis
t R
atio
Historical SFR Sold to List Ratios
Closed Sales - Condo July
283312
365
2011 2012 2013
Year to Date
12 Research performed by SiteTech Systems
2,180
2,301
2,475
2011 2012 2013
July 2013 365
100
200
300
400
500
600
700
800
900
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Nu
mb
er
of
Sale
s
Historical Condo Sales Activity
Average Sales Price - Condo July Year to Date
13 Research performed by SiteTech Systems
$140,993
$135,956 $134,970
2011 2012 2013
$142,635
$134,838 $132,389
2011 2012 2013
July 2013 $132,389
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Ave
rage
Sal
es
Pri
ce
Historical Condo Average Sale Prices
Median Sales Price - Condo July
$110,000
$94,500
$110,000
2011 2012 2013
Year to Date
14 Research performed by SiteTech Systems
$110,000
$104,250
$107,000
2011 2012 2013
July 2013 $110,000
$50,000
$70,000
$90,000
$110,000
$130,000
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Me
dia
n S
ale
s P
rice
Historical Condo Median Sales Prices
Median Sales Price – Condo Distressed & Non-Distressed
15 Research performed by SiteTech Systems
$60,000
$70,000
$80,000
$90,000
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
MedianSales Price
Distressed SalesMedian Sales Price
Non-Distressed SalesMedian Sales Price
Median Sales Price – Condo Cash & Conventional Transactions
16 Research performed by SiteTech Systems
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
MedianSales Price
CashMedian Sales Price
ConventionalMedian Sales Price
Condo Sales % Cash vs. % Conventional
Research performed by SiteTech Systems 17
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Cash% of Closed Sales
Conventional% of Closed Sales
Sold to List Price Ratio - Condo
July
86%88%
95%
2011 2012 2013
Year to Date
18 Research performed by SiteTech Systems
86% 88%
94%
2011 2012 2013
July 2013 95%
75
80
85
90
95
100
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Sold
to
Lis
t R
atio
Historical Condo Sold to List Ratio
Closed Sales – Residential Lot
56
73
86
2011 2012 2013
Year to Date
19
July
Research performed by SiteTech Systems
389
638 642
2011 2012 2013
July 2013 86
0
50
100
150
200
250
300
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Nu
mb
er
of
sale
s
Historical Residential Lot Sales Activity
Average Sales Price – Residential Lot July Year to Date
20 Research performed by SiteTech Systems
$53,871
$116,911
$84,456
2011 2012 2013
$70,447
$68,660
$71,879
2011 2012 2013
July 2013 $84,456
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Ave
rage
Sal
es
Pri
ces
Historical Residential Lot Average Sale Prices
Median Sales Price – Residential Lot
July
$30,750
$59,000
$46,500
2011 2012 2013
Year to Date
21 Research performed by SiteTech Systems
$36,000 $31,750
$40,000
2011 2012 2013
July 2013 $46,500
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Me
dia
n S
ale
s P
rice
s
Historical Residential Lot Median Sale Prices
Median Sales Price – Res. Lot (Non-Distressed)
July
$38,000
$61,000$51,000
2011 2012 2013
Year to Date
22 Research performed by SiteTech Systems
$50,000 $50,000 $50,000
2011 2012 2013
July 2013 $51,000
$-
$20,000
$40,000
$60,000
$80,000
$100,000
Jan
-11
Feb
-11
Mar
-11
Ap
r-1
1
May
-11
Jun
-11
Jul-
11
Au
g-1
1
Sep
-11
Oct
-11
No
v-1
1
De
c-1
1
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Me
dia
n S
ale
s P
rice
s
Historical Residential Lot Median Sale Prices (Non-Distressed)
Sold to List Price Ratio – Residential Lot July Year to Date
73%70%
82%
2011 2012 2013
23 Research performed by SiteTech Systems
79% 79%95%
2011 2012 2013
July 2013 95%
40
50
60
70
80
90
100
Jan
-06
Ap
r-0
6
Jul-
06
Oct
-06
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-1
0
Jul-
10
Oct
-10
Jan
-11
Ap
r-1
1
Jul-
11
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Sold
to
Lis
t R
atio
s
Historical Residential Lot Sold to List Ratios
Grand Strand Distressed Inventory
Single Family Residential # Listings
Horry Co. 454
Georgetown Co. 78
Total 532
Average List Price $194,538
Median List Price $144,900
Condo/Townhome
# Listings
Horry Co. 393
Georgetown Co. 30
Total 423
Average List Price $121,966
Median List Price $95,000
Horry Co.
G’town Co.
Less than $150k 259 29
$150k - $250k 121 23
$250k - $500k 55 18
$500k - $1.0 MM 18 8
$1 MM + 1 -
Distribution by Price Range
24 Research performed by SiteTech Systems
Residential Lot # Listings
Horry Co. 179
Georgetown Co. 70
Total 249
Average List Price $65,450
Median List Price $30,000
Horry Co.
G’town Co.
Less than $25k 75 21
$25k - $50k 56 15
$50k - $75k 19 8
$75k-100k 6 11
$100k-175k 10 9
$175k -250K 6 5
$250K + 7 1
Horry Co.
G’town Co.
Less than $100k 220 10
$100k - $150k 77 7
$150k - $200k 44 6
$200k - $400k 45 5
$400k -$750k 7 2
$750+ - -
Distressed Sales Total
12-Jul
Sept Nov Jan Mar May 13-Jul
SFR
12-Jul
Sep Nov Jan Mar May 13-Jul
Condo
25 Research performed by SiteTech Systems
12-Jul
Sept Nov Jan Mar May 13-Jul
% Total Sales
29 29 29
23 25 25
27 28 24
26
17 15
17
12-Jul
Sep Nov Jan Mar May 13-Jul
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