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Research performed by

Grand Strand Market Report December 2016 Sales activity in the Grand Strand ended 2016 with a solid month of sales. SFR sales are up 2.0% for the month and up 4.1% for the year; setting a new market record for the month of December with 553 sales. Condo sales are up 4.5% for the month and up 8.9% for the year. Residential lot sales are down 18.6% for the month and down 9.8% for the year. Inventory for SFRs and condos continues to tighten.

SFR sales volume increased 2.0% in December with year-to-date SFR sales also up 4.1% compared to 2015. Median sales price increased slightly to $210,937 up 0.4% for the month, and up 3.1% in 2016. When compared to December 2015, sales prices for new construction are up 7.8% while sales prices of resales are also up 3.6%. Year-to-date, the median sales price for new construction and resales are up 0.6% and 5.4% respectively. The average sold-to-list ratio for Single Family Residential sales in December was 96%, flat compared to the same month in 2015. SFR inventory continues to tighten as inventory is down 2.8% from 2015.

Condo sales increased 4.5% compared to December 2015 and up 8.9% year-to-date compared to 2015. Median sales price increased 10.0% to $126,000 in December and maintained its growth at 4.3% for the year. Condo inventory continued to tighten as inventory is down as compared to prior year levels: down 14.1% compared to December 2015. The average sold to list ratio for condo sales in December was 93%, up 300 basis points compared to the same month in 2015. Condo inventory continues to fall as year-over-year inventory has fallen for more than 5 years.

Residential lot sales were down 18.6% in December compared to 2015 and down 9.8% year-to-date. However, median sales price increased 18.2% for the month compared to 2015 with the year-to-date sales price also increasing by 8.9%. Sold to list ratios are down to 83%, down 800 basis points compared to December 2015.

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

$210,937 $126,000 $56,750

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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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 604 63

$150k - $250k 1,539 92 $250k - $500k 1,374 313

$500k - $1.0 MM 371 139

$1 MM + 95 91

# Listings

Horry Co. 3,983 Georgetown 698

Total 4,681

Average List Price $356,553 Median List Price $254,900


Less than $100k 785 14 $100k - $150k 776 63

$150k - $200k 539 75 $200k - $400k 910 86

$400k - $750k 154 85

$750k + 27 15

# Listings

Horry Co. 3,191

Georgetown 338

Total 3,529 Average List Price $204,431

Median List Price $159,900


Less than $25k 187 63

$25k - $50k 350 72

$50k - $75k 244 55 $75k - $100k 127 78

$100k - $175k 200 119 $175k - 250k 115 73

$250k + 111 125

# Listings

Horry Co. 1,334

Georgetown 585

Total 1,919

Average List Price $137,110

Median List Price $74,900


Grand Strand Inventory Trends SFR Inventory - December

Historical Data

Condo Inventory – December

Historical Data

May-105,453

Dec-114,340

Dec-164,681

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

4,045 3,930 3,837 3,7163,191

2012 2013 2014 2015 2016

Jun-105,748

Dec-133,930

Dec-163,1913,000

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

4,4734,564

4,8834,816

4,681

2012 2013 2014 2015 2016


Closed Sales – SFR December Year to Date

Historical Data

Year Over Year

527

542

553

2014 2015 2016

5,910

6,900 7,182

2014 2015 2016

Jan-09149

Jun-15756

Dec-16553

100

200

300

400

500

600

700

800

900

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Sep

-16

0

200

400

600

800

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

2015 2016


Median Sales Price – SFR

December Year to Date

Historical Data

$199,000

$210,000 $210,937

2014 2015 2016

$190,355

$203,625

$210,000

2014 2015 2016

Jun-06$242,310

Sep-12$160,163

Dec-16$210,937

$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


Sold to List Price Ratio – SFR


Historical Data

95%

96% 96%

2014 2015 2016

94%

95%

96%

2014 2015 2016

Jan-0698%

December-09 & Apr-1186%

Dec-1696%

80

82

84

86

88

90

92

94

96

98

100

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Sep

-16


New Construction vs Resale – SFR % of Total Sales


Historical Data – % of Total Sales

34% 35% 35%

66% 65% 65%

2014 2015 2016

New Construction Resale

40% 39% 33%

60% 61% 67%

2014 2015 2016


Apr-1322%

Jun-1336%

Dec-1336%

Dec-1633%

Apr-1378%

Jun-1364%

Dec-1364%

Dec-1667%

0

100

200

300

400

500

600

700

800

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

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

Total SFR Sales % New Construction % Resale


New Construction vs Resale – SFR Median Sales Price


Historical Data – Median Sales Price

$224,392 $230,000 $231,341

$172,700$185,000 $195,000

2014 2015 2016


$239,000 $231,000$249,000

$169,450$190,000 $196,875

2014 2015 2016


Aug-12$183,320

Mar-14$249,440

Dec-16$249,000

Nov-11$145,000

Aug-14$184,900

Dec-16$196,875

$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



Closed Sales – Condo


Historical Data

Year Over Year

354

359

375

2014 2015 2016

4,168

4,545

4,950

2014 2015 2016

May-06845

Jan-09117

Dec-16375

100

200

300

400

500

600

700

800

900

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Sep

-16

0

100

200

300

400

500

600


2015 2016


Median Sales Price – Condo


Historical Data

Sold to List Price Ratio – Condo December Year to Date

Historical Data

$118,750 $114,500

$126,000

2014 2015 2016

$114,000 $115,000

$120,000

2014 2015 2016

91%90%

93%

2014 2015 2016

91%

92%

93%

2014 2015 2016

Mar-06& Apr-06

98%

Apr-09 & December-09

81%

Dec-1693%

75

80

85

90

95

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

Jun-07$249,921

Nov-11$93,450

Dec-16$126,000

$50,000

$100,000

$150,000

$200,000

$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


Closed Sales – Residential Lot


Historical Data

Year Over Year

0

50

100

150


2015 2016

133

8166

2014 2015 2016

1,097 1,097

980

2014 2015 2016

Apr-06266

Jan-0911

Dec-1666

0

50

100

150

200

250

300

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Sep

-16


Median Sales Price – Residential Lot


Historical Data

Sold to List Price Ratio – Residential Lot


Historical Data

$49,900 $48,000

$56,750

2014 2015 2016

$49,900

$45,000

$49,000

2014 2015 2016

Aug-06$130,000

Nov-11$15,000

Dec-16$56,750

$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

676%

91%

83%

2014 2015 2016

76%

82% 83%

2014 2015 2016

Apr-0699%

Nov-1147%

Dec-1683%

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

grand strand market report - amazon s3sloan/...research performed by grand strand market report...

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