oct 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

October 2013

Research powered by

SiteTech Systems

Single Family Residential sales begin Quarter 4 strong; and are up 12.4% from October 2012

Single Family Residential (SFR) sales maintained its double digit year over year sales growth as SFR sales grew 12.4% as compared to October 2012. Year-to-date (YTD), SFR sales are up 21.8% from 2012 levels. In addition to strong SFR sales, the median sales price of SFRs was $176,200, which is in line with full year performance. YTD, the median sales price is up 6.5% for the year. Following improved sales prices, SFR sold to list ratio remains at 93% which is in line with 2007 levels, and has remained steady since July 2013. During October, the inventory of homes is consistent with September and levels are up 4.6% from prior year levels. The inventory of distressed homes for sale has leveled off and is 35.8% below its prior year level. For condos, the inventory has leveled off over the last four months and the current inventory is down 2.2% from October 2012; distressed inventory is down 43.2% over the last year. During October, condo sales have slipped from its October 2012 performance, however year to date condo sales are up 5.3% from 2012. The median sales price for condos is up 6.2% from last year at $110,000, which is consistent with the full year. The sold to list ratio is now at 91%, and has been steady in the low 90’s for the three consecutive months. Residential lot sales performance in October remains in line with October 2012 performance, however, YTD residential lot sales are up 4.9% as compared to YTD 2012. The YTD median sales price is up 34.3%. The improvement in sales prices is still driven by a smaller percentage of distressed sales and stronger pricing on non-distressed sales.

Grand Strand Active Inventory

Single Family Residential # Listings

Horry Co. 3,968

Georgetown Co. 853

Total 4,821

Average List Price $339,917

Median List Price $235,000

Condo/Townhome

# Listings

Horry Co. 3,746

Georgetown Co. 385

Total 4,131



Horry Co.

G’town Co.

Less than $150k 982 98

$150k - $250k 1,389 167

$250k - $500k 1,236 331

$500k - $1.0 MM 257 151

$1 MM + 104 106

Horry Co.

G’town Co.

Less than $100k 1,226 29

$100k - $150k 956 98

$150k - $200k 628 84

$200k - $400k 734 87

$400k -$750k 167 63

$750+ 35 24

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,636

Georgetown Co. 796

Total 2,432



Horry Co.

G’town Co.


$25k - $50k 488 105

$50k - $75k 271 89

$75k-100k 165 127

$100k-175k 157 148

$175k -250k 102 108

$250k+ 109 140

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

Oct 2010 5,088

Oct 2011 4,733

Oct 2012 4,608

Oct 2013 4,821

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

Au

g-1

3

Sep

-13

Oct

-13

Nu

mb

er

of

List

ings

Grand Strand SFR Inventory

Oct 2010 799

Oct 2011 791

Oct 2012 721

Oct 2013 463

400

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

Au

g-1

3

Sep

-13

Oct

-13N

um

be

r o

f D

istr

ess

ed

Lis

tin

gs

Grand Strand SFR Distressed Inventory

Grand Strand Condo Inventory Trends


Oct 2010 5,270

Oct 2011 4,787

Oct 2012 4,222

Oct 2013 4,131

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

Au

g-1

3

Sep

-13

Oct

-13

Nu

mb

er

of

List

ings

Grand Strand Condo Inventory

Oct 2010 957

Oct 2011 806 Oct 2012

614

Oct 2013 349

300

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-

13

Au

g-1

3

Sep

-13

Oct

-13

Nu

mb

er

of

Dis

tre

sse

d L

isti

ngs

Grand Strand Condo Distressed Inventory

Closed Sales - SFR

October Year to Date


307395

444

2011 2012 2013

3,1353,655

4,450

2011 2012 2013

January 2009 149

August 2013 524

October 2013 444

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

Oct

-13

Nu

mb

er

of

SFR

Sal

es

Historical SFR Sales Activity

Average Sales Price - SFR October Year to Date


$235,729

$213,383

$221,349

2011 2012 2013

$225,246

$215,134

$224,881

2011 2012 2013

March 2007 $346,428

September 2012 $196,933

October 2013 $221,349

$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

Oct

-13

Ave

rage

Sal

es

Pri

ce

Historical SFR Average Sale Prices

$172,273$168,999

$179,990

2011 2012 2013

Median Sales Price - SFR October

$172,000

$167,825

$176,200

2011 2012 2013

Year to Date


July 2006 $242,310

November 2012 $160,000

October 2013 $176,200

$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

Oct

-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

$220,000

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

Au

g-1

3

Sep

-13

Oct

-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

$195,000

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

Au

g-1

3

Sep

-13

Oct

-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

October

88%

92%93%

2011 2012 2013

Year to Date


88%

91%93%

2011 2012 2013

January 2006 98%

May 2009 86%

April 2011 86%

October 2013 93%

80

82

84

86

88

90

92

94

96

98

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

Oct

-13

Sold

to

Lis

t R

atio

Historical SFR Sold to List Ratios

Closed Sales - Condo October

265

362299

2011 2012 2013

Year to Date


3,031

3,311

3,486

2011 2012 2013

May 2006 845

January 2009 117

October 2013 299

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

Oct

-13

Nu

mb

er

of

Sale

s

Historical Condo Sales Activity

Average Sales Price - Condo October Year to Date


$139,947

$134,148

$138,293

2011 2012 2013

$152,529

$132,630

$145,332

2011 2012 2013

June 2007 $348,053

December 2010 $105,000

October 2013 $145,332

$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

Oct

-13

Ave

rage

Sal

es

Pri

ce

Historical Condo Average Sale Prices

Median Sales Price - Condo October

$107,000

$103,550

$110,000

2011 2012 2013

Year to Date


$109,000

$104,000

$110,000

2011 2012 2013

June 2007 $249,921

November 2011 $93,450

October 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

Oct

-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

86%88%

92%

2011 2012 2013

Sold to List Price Ratio - Condo

October

86%

89%91%

2011 2012 2013

Year to Date


March & April 2006 98%

April & May 2009 81%

October 2013 91%

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

Oct

-13

Sold

to

Lis

t R

atio

Historical Condo Sold to List Ratio

83

9796

2011 2012 2013

620

883926

2011 2012 2013

Closed Sales – Residential Lot Year to Date

19

October

Research performed by SiteTech Systems

April 2006 266

January 2009 11

October 2013 96

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

Oct

-13

Nu

mb

er

of

sale

s

Historical Residential Lot Sales Activity

Average Sales Price – Residential Lot October Year to Date


$35,584

$64,648 $68,369

2011 2012 2013

$66,942 $65,372

$73,038

2011 2012 2013

July 2008 $275,614

October 2011 $35,780

October 2013 $68,369

$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

Oct

-13

Ave

rage

Sal

es

Pri

ces

Historical Residential Lot Average Sale Prices

$33,375 $33,500

$45,000

2011 2012 2013

Median Sales Price – Residential Lot

October

$15,899

$35,000 $41,500

2011 2012 2013

Year to Date


August 2006 $130,000

November 2011 $15,000

October 2013 $41,500

$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

Oct

-13

Me

dia

n S

ale

s P

rice

s

Historical Residential Lot Median Sale Prices

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

October

$23,250

$47,000 $45,000

2011 2012 2013

Year to Date


$50,000

$46,000

$50,000

2011 2012 2013

January 2011 $85,000

October 2011 $23,250

October 2013 $45,000

$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

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

Au

g-1

3

Sep

-13

Oct

-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 October Year to Date

71% 71%

81%

2011 2012 2013


57%

79%72%

2011 2012 2013

April 2006 99%

November 2011 47%

October 2013 72%

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

Oct

-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. 403

Georgetown Co. 60

Total 463



Condo/Townhome

# Listings

Horry Co. 324

Georgetown Co. 25

Total 349



Horry Co.

G’town Co.


$150k - $250k 111 19

$250k - $500k 51 10

$500k - $1.0 MM 14 8

$1 MM + 3 1

Distribution by Price Range


Residential Lot # Listings

Horry Co. 164

Georgetown Co. 54

Total 218



Horry Co.

G’town Co.


$25k - $50k 51 14

$50k - $75k 16 6

$75k-100k 7 11

$100k-175k 11 7

$175k -250K 4 4

$250K + 6 -

Horry Co.

G’town Co.


$100k - $150k 61 9

$150k - $200k 33 7

$200k - $400k 31 4

$400k -$750k 9 2

$750+ - -

Distressed Sales Total

12-Oct

Dec Feb Apr June Aug 0ct13

SFR

12-Oct

Dec Feb Apr June Aug 13-Oct

Condo


12-Oct


% Total Sales

23 25 25 27 28

24 26

17 15

17 17 19

15

12-Oct


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oct 2013 monthly sales trend broker

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