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  • Research performed by

    Grand Strand Market Report July 2016 Single Family Residential sales activity remained strong with year-to-date sales up

    4.7%. The median price of resales is up 5.1% for the month and 3.3% year-to-date.

    Condo sales are up 3.1% while prices rise 0.9%. Residential lot sales take a hit,

    down 33.7% compared to July 2015 and 12.2% for the year.

    SFR sales volume remained strong in July – despite dropping 6.3% compared to July 2015. Year- to-date, SFR sales are up 4.7% compared to 2015. Median sales price increased to $210,000, up 5.1% for the month, and up 3.3% in 2016. When compared to July 2015, sales prices for new construction have dropped 2.7% while sales prices for resales are up 12.7%. Year-to-date, the median sales price for new construction has dropped 2.1% with resales up 8.2%. The average sold-to-list ratio for Single Family Residential sales in July was 96%, flat compared to the same month in 2015.

    After five consecutive months of growth, condo sales have begun slow as the peak summer months begin to wind down. However, condo sales are still up 3.1% compared to July 2015 and up 6.7% year-to-date compared to 2015. Condo inventory increased 0.4% in July. Median sales price increased 0.9% to $121,000 in July and maintained its growth at 1.7% for the year. The average sold to list ratio for condo sales in July was 92%, the same level compared to the same month in 2015.

    Residential lot sales were down 33.7% in July compared to 2015 and are down 12.2% year-to- date. Median sales price saw an increase of 35.7% for the month compared to 2015 while the year-to-date sales price dipped 1%. Sold to list ratios are up 100 basis points across the board.

    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

    $210,000 $121,000 $58,000

  • 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 723 70

    $150k - $250k 1,730 117 $250k - $500k 1,576 325

    $500k - $1.0 MM 384 150

    $1 MM + 114 98

    # Listings

    Horry Co. 4,527 Georgetown 760

    Total 5,287

    Average List Price 352,340 Median List Price 250,000

    Horry Co. G’town Co.

    Less than $100k 942 29 $100k - $150k 921 86

    $150k - $200k 592 64 $200k - $400k 975 101

    $400k - $750k 172 90

    $750k + 28 21

    # Listings

    Horry Co. 3,630

    Georgetown 391

    Total 4,021 Average List Price 199,293

    Median List Price 154,900

    Horry Co. G’town Co.

    Less than $25k 238 66

    $25k - $50k 417 89

    $50k - $75k 231 62 $75k - $100k 144 76

    $100k - $175k 188 135 $175k - 250k 113 85

    $250k + 116 144

    # Listings

    Horry Co. 1,447

    Georgetown 657

    Total 2,104

    Average List Price 138,036

    Median List Price 69,900

  • 4 Research performed by

    Grand Strand Inventory Trends SFR Inventory - July

    Historical Data

    Condo Inventory – July

    Historical Data

    May-10 5,453

    Dec-11 4,340

    Jul-16 5,287

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

    M ay

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    4,509

    4,167 4,256

    4,004 4,021

    2012 2013 2014 2015 2016

    Jun-10 5,748

    Dec-13 3,930

    Jul-16 4,021

    3,500

    4,000

    4,500

    5,000

    5,500

    6,000

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    4,735 4,950

    5,346 5,485

    5,287

    2012 2013 2014 2015 2016

  • 5 Research performed by

    Closed Sales – SFR July Year to Date

    Historical Data

    Year Over Year

    536

    657 615

    2014 2015 2016

    3,275

    3,952 4,138

    2014 2015 2016

    Jan-09 149

    Jun-15 756

    Jul-16 615

    100

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    500

    600

    700

    800

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    Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

    2015 2016

  • 6 Research performed by

    Median Sales Price – SFR

    July Year to Date

    Historical Data

    $194,500

    $199,800

    $210,000

    2014 2015 2016

    $189,900

    $199,000

    $205,471

    2014 2015 2016

    Jun-06 $242,310

    Sep-12 $160,163

    Jul-16 $210,000

    $150,000

    $160,000

    $170,000

    $180,000

    $190,000

    $200,000

    $210,000

    $220,000

    $230,000

    $240,000

    $250,000

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  • 7 Research performed by

    Sold to List Price Ratio – SFR

    July Year to Date

    Historical Data

    97%

    95%

    96%

    2014 2015 2016

    96%

    95% 95%

    2014 2015 2016

    Jan-06 98%

    July-09 & Apr-11 86%

    Jul-16 96%

    80

    82

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    100