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



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



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


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


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


$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


$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


$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


$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


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


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


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


$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


$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


$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


$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


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


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


$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


$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


$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


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



Condo/Townhome

# Listings

Horry Co. 393

Georgetown Co. 30

Total 423



Horry Co.

G’town Co.


$150k - $250k 121 23

$250k - $500k 55 18

$500k - $1.0 MM 18 8

$1 MM + 1 -

Distribution by Price Range


Residential Lot # Listings

Horry Co. 179

Georgetown Co. 70

Total 249



Horry Co.

G’town Co.


$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.


$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


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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july 2013 monthly sales trend broker

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