grand strand market report - amazon s3 · 2017-08-23 · condo inventory has tightened as inventory...
TRANSCRIPT
Research performed by
Grand Strand Market Report July 2017 Grand Strand market activity faced another slight setback in July. SFR sales volume dropped 6.9% for the month but continues its strong growth, up 6.1% year-to-date. Condo sales volume remained flat while the median sales price is up 7.3%. Residential lot sales were up 16.0% for the month and up 6.9% year-to-date.
SFR sales in the Grand Strand were down for the month with sales volume dropping 6.9% compared to July 2016. Year-to-date sales, however, continue their strong growth: up 6.1% year-to-date. Median sales price dropped to $204,950, a 3.0% decrease from July 2016 while year-to-date sale prices are up 4.4%. Sales prices for new construction are up 5.9% while sales prices for resales are down 3.5% when compared to July 2016. The average sold-to-list ratio for Single Family Residential sales in July was 95%, down 100 basis points compared to the same month in 2016. SFR inventory continues to tighten as inventory is down 14.5% from 2016.
Condo sales volume remained essentially flat, dropping a mere 0.2% while the median sales price was up 7.3% compared to July 2016. Year-to-date, condo sales are up 15.8% and condo median sales prices are up 8.1%. Condo inventory has tightened as inventory is down compared to prior year levels: down 14.5% compared to July 2016. The average sold to list ratio for condo sales in July was 93%, up 100 basis points compared to the same month in 2016.
Residential lot sales were up 16.0% in July compared to 2016 and are up 6.9% year-to-date. The median sales price dropped to $46,700, down 16.6% compared to the same month in 2016. Sold to list ratios are at 81%, down 400 basis points compared to July 2016.
At a glance…
SFR Condo Residential Lot
Sales Inventory Sales Inventory Sales Inventory Month YTD Month Month YTD Month Month YTD Month
-
Median Sales Price Median Sales Price Median Sales Price
$204,950 $128,750 $46,700
2 Research performed by
Contents
Active Inventory 3
Inventory Trends – SFR & Condo 4
Closed Sales – SFR 5
Median Sales Price – SFR 6
Sold to List Price Ratio – SFR 7
New Construction vs Resale – SFR
% of Total Sales 8
Median Sales Price 9
Closed Sales – Condo 10
Median Sales Price – Condo 11
Sold to List Price Ratio – Condo 11
Closed Sales – Residential Lot 12
Median Sales Price – Residential Lot 13
Sold to List Price Ratio – Residential Lot 13
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3 Research performed by
Grand Strand Active Inventory Single Family Residential Distribution by Price Range
Condo/Townhome Distribution by Price Range
Residential Lot Distribution by Price Range
Horry Co. G’town Co.
Less than $150k 473 50
$150k - $250k 1,861 95 $250k - $500k 1,725 318
$500k - $1.0 MM 398 157
$1 MM + 113 96
# Listings
Horry Co. 4,570 Georgetown 716
Total 5,286
Average List Price $358,886 Median List Price $263,680
Horry Co. G’town Co.
Less than $100k 718 16 $100k - $150k 769 63
$150k - $200k 544 53 $200k - $400k 905 92
$400k - $750k 146 95
$750k + 25 13
# Listings
Horry Co. 3,107
Georgetown 332
Total 3,439 Average List Price $205,731
Median List Price $159,900
Horry Co. G’town Co.
Less than $25k 153 72
$25k - $50k 364 59
$50k - $75k 241 59 $75k - $100k 138 66
$100k - $175k 224 125 $175k - 250k 129 84
$250k + 122 126
# Listings
Horry Co. 1,371
Georgetown 591
Total 1,962
Average List Price $136,298
Median List Price $78,950
4 Research performed by
Grand Strand Inventory Trends SFR Inventory - July
Historical Data
Condo Inventory – July
Historical Data
May-105,453
Dec-114,340
Jul-175,286
4,0004,2004,4004,6004,8005,0005,2005,4005,6005,800
May
-10
Au
g-1
0
No
v-1
0
Feb
-11
May
-11
Au
g-1
1
No
v-1
1
Feb
-12
May
-12
Au
g-1
2
No
v-1
2
Feb
-13
May
-13
Au
g-1
3
No
v-1
3
Feb
-14
May
-14
Au
g-1
4
No
v-1
4
Feb
-15
May
-15
Au
g-1
5
No
v-1
5
Feb
-16
May
-16
Au
g-1
6
No
v-1
6
Feb
-17
May
-17
4,167 4,256 4,004 4,0213,439
2013 2014 2015 2016 2017
Jun-105,748
Dec-133,930 Jul-17
3,439
3,000
3,500
4,000
4,500
5,000
5,500
6,000
May
-10
Au
g-1
0
No
v-1
0
Feb
-11
May
-11
Au
g-1
1
No
v-1
1
Feb
-12
May
-12
Au
g-1
2
No
v-1
2
Feb
-13
May
-13
Au
g-1
3
No
v-1
3
Feb
-14
May
-14
Au
g-1
4
No
v-1
4
Feb
-15
May
-15
Au
g-1
5
No
v-1
5
Feb
-16
May
-16
Au
g-1
6
No
v-1
6
Feb
-17
May
-17
4,950
5,3465,485
5,287 5,286
2013 2014 2015 2016 2017
5 Research performed by
Closed Sales – SFR July Year to Date
Historical Data
Year Over Year
658668
622
2015 2016 2017
3,952
4,231
4,491
2015 2016 2017
Jan-09149
Jun-15756
Jul-17622
100
200
300
400
500
600
700
800
900
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7
0
200
400
600
800
1000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016 2017
6 Research performed by
Median Sales Price – SFR
July Year to Date
Historical Data
$198,965
$211,212
$204,950
2015 2016 2017
$198,465
$206,000
$215,000
2015 2016 2017
Jun-06$242,310
Sep-12$160,163
Jul-17$204,950
$150,000
$160,000
$170,000
$180,000
$190,000
$200,000
$210,000
$220,000
$230,000
$240,000
$250,000
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7
7 Research performed by
Sold to List Price Ratio – SFR
July Year to Date
Historical Data
95%
96%
95%
2015 2016 2017
95%
96% 96%
2015 2016 2017
Jan-0698%
July-09 & Apr-1186%
Jul-1795%
80
82
84
86
88
90
92
94
96
98
100
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7
8 Research performed by
New Construction vs Resale – SFR % of Total Sales
July Year to Date
Historical Data – % of Total Sales
34% 36% 33%
66% 64% 67%
2015 2016 2017
New Construction Resale
Apr-1322%
Jun-1336%
Dec-1336%
Jul-1727%
Apr-1378%
Jun-1364%
Dec-1364%
Jul-1773%
0
100
200
300
400
500
600
700
800
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Oct
-11
Jan
-12
Ap
r-1
2
Jul-
12
Oct
-12
Jan
-13
Ap
r-1
3
Jul-
13
Oct
-13
Jan
-14
Ap
r-1
4
Jul-
14
Oct
-14
Jan
-15
Ap
r-1
5
Jul-
15
Oct
-15
Jan
-16
Ap
r-1
6
Jul-
16
Oct
-16
Jan
-17
Ap
r-1
7
Jul-
17
Total SFR Sales % New Construction % Resale
33% 33% 27%
67% 67% 73%
2015 2016 2017
New Construction Resale
9 Research performed by
New Construction vs Resale – SFR Median Sales Price
July Year to Date
Historical Data – Median Sales Price
$230,908 $226,919$238,530
$179,850$194,000 $205,000
2015 2016 2017
New Construction Resale
$221,175$215,858 $228,500
$184,450$206,250 $199,000
2015 2016 2017
New Construction Resale
$183,320
$249,440
Jul-17$228,500
Nov-11$145,000
Aug-14$184,900
Jul-17$199,900
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
$280,000
Sep
-11
Dec
-11
Mar
-12
Jun
-12
Sep
-12
Dec
-12
Mar
-13
Jun
-13
Sep
-13
Dec
-13
Mar
-14
Jun
-14
Sep
-14
Dec
-14
Mar
-15
Jun
-15
Sep
-15
Dec
-15
Mar
-16
Jun
-16
Sep
-16
Dec
-16
Mar
-17
Jun
-17
New Construction Resale
10 Research performed by
Closed Sales – Condo
July Year to Date
Historical Data
Year Over Year
381
417 416
2015 2016 2017
2,7062,919
3,380
2015 2016 2017
May-06845
Jan-09117
Jul-17416
100
200
300
400
500
600
700
800
900
Feb
-06
Jul-
06
Dec
-06
May
-07
Oct
-07
Mar
-08
Au
g-0
8
Jan
-09
Jun
-09
No
v-0
9
Ap
r-1
0
Sep
-10
Feb
-11
Jul-
11
Dec
-11
May
-12
Oct
-12
Mar
-13
Au
g-1
3
Jan
-14
Jun
-14
No
v-1
4
Ap
r-1
5
Sep
-15
Feb
-16
Jul-
16
Dec
-16
May
-17
0
100
200
300
400
500
600
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016 2017
11 Research performed by
Median Sales Price – Condo
July Year to Date
Historical Data
Sold to List Price Ratio – Condo July Year to Date
Historical Data
$119,900 $120,000
$128,750
2015 2016 2017
$115,000 $117,500
$127,000
2015 2016 2017
92% 92%
93%
2015 2016 2017
92% 92%
94%
2015 2016 2017
Apr-09 & July-0981%
Jul-1793%
75
80
85
90
95
100
Jul-
06
Dec
-06
May
-07
Oct
-07
Mar
-08
Au
g-0
8
Jan
-09
Jun
-09
No
v-0
9
Ap
r-1
0
Sep
-10
Feb
-11
Jul-
11
Dec
-11
May
-12
Oct
-12
Mar
-13
Au
g-1
3
Jan
-14
Jun
-14
No
v-1
4
Ap
r-1
5
Sep
-15
Feb
-16
Jul-
16
Dec
-16
May
-17
Jun-07$249,921
Nov-11$93,450
Jul-17$128,750
$50,000
$100,000
$150,000
$200,000
$250,000
Jul-
06
Dec
-06
May
-07
Oct
-07
Mar
-08
Au
g-0
8
Jan
-09
Jun
-09
No
v-0
9
Ap
r-1
0
Sep
-10
Feb
-11
Jul-
11
Dec
-11
May
-12
Oct
-12
Mar
-13
Au
g-1
3
Jan
-14
Jun
-14
No
v-1
4
Ap
r-1
5
Sep
-15
Feb
-16
Jul-
16
Dec
-16
May
-17
12 Research performed by
Closed Sales – Residential Lot
July Year to Date
Historical Data
Year Over Year
0
50
100
150
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016 2017
92
69
80
2015 2016 2017
632
567
606
2015 2016 2017
Apr-06266
Jan-0911
Jul-1780
0
50
100
150
200
250
300
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7
13 Research performed by
Median Sales Price – Residential Lot
July Year to Date
Historical Data
Sold to List Price Ratio – Residential Lot
July Year to Date
Historical Data
$42,750
$56,000 $46,700
2015 2016 2017
$48,000
$47,500 $47,750
2015 2016 2017
Aug-06$130,000
Nov-11$15,000
Jul-17$46,700
$0
$50,000
$100,000
$150,000
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
783%
85%
81%
2015 2016 2017
82%83%
85%
2015 2016 2017
Apr-0699%
Nov-1147%
Jul-1781%
40
60
80
100
120
Jan
-06
Jun
-06
No
v-0
6
Ap
r-0
7
Sep
-07
Feb
-08
Jul-
08
Dec
-08
May
-09
Oct
-09
Mar
-10
Au
g-1
0
Jan
-11
Jun
-11
No
v-1
1
Ap
r-1
2
Sep
-12
Feb
-13
Jul-
13
Dec
-13
May
-14
Oct
-14
Mar
-15
Au
g-1
5
Jan
-16
Jun
-16
No
v-1
6
Ap
r-1
7