grand strand monthly market report january 2016 (sts)
DESCRIPTION
Grand Strand Monthly Market Report January 2016 (Sts)TRANSCRIPT
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Researchperformedby
GrandStrandMarketReportJanuary2016SingleFamilyResidentialsalesup2.6%inJanuary;mediansalespricerises8.2%.Condosalesaredown3.9%forthemonthwithmediansalespriceup18.6%.ResidentialLotsalesup50%forthemonthwithmediansalespricedown20%.Aftertwomonthsofcomparativedecliningresidentialsales,SFRsalesreboundedinJanuaryincreasing2.6%comparedtothesamemonthin2015.SFRinventoryincreasedslightlyfromDecember.Mediansalespricecontinuesitsupwardtrendat$196,680,up8.2%forthemonth.Themediansalespriceisupinbothnewconstructionandresaleactivity,1.7%and12.6%respectively,comparedtoJanuary2015.TheaveragesoldtolistratioforSingleFamilyResidentialsalesinJanuarywas94%,flatcomparedtothesamemonthin2015.Condosalesdecreased3.9%inJanuaryafterayearofsteadygrowth.CondoinventoryincreasedslightlyinJanuary,butremainslowasitsteadilydeclinescomparedto2014levels.Itisexpectedthatinventorywillincreaseslightlyoverthenextsixmonthsduetoseasonality.Mediansalespriceincreased18.6%to$116,500inJanuary.TheaveragesoldtolistratioforcondosalesinJanuarywas92%,up200basispointscomparedtothesamemonthin2015.Residentiallotsalesincreased50%inJanuarywithmediansalespricedown20%comparedto2015.Soldtolistratioswereup200basispointsforthemonth.
Ataglance
SFR Condo ResidentialLot
Sales Inventory Sales Inventory Sales InventoryMonth YTD Month Month YTD Month Month YTD Month
- - - -
MedianSalesPrice MedianSalesPrice MedianSalesPrice
$196,680 $116,500 $36,000
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2Researchperformedby
ContentsActiveInventory 3 InventoryTrendsSFR&Condo 4ClosedSalesSFR 5MedianSalesPriceSFR 6 SoldtoListPriceRatioSFR 7NewConstructionvsResaleSFR
%ofTotalSales 8MedianSalesPrice 9
ClosedSalesCondo 10MedianSalesPriceCondo 11SoldtoListPriceRatioCondo 11
ClosedSalesResidentialLot 12MedianSalesPriceResidentialLot 13SoldtoListPriceRatioResidentialLot 13
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3Researchperformedby
GrandStrandActiveInventorySingleFamilyResidential DistributionbyPriceRange
Condo/Townhome DistributionbyPriceRange
ResidentialLot DistributionbyPriceRange
HorryCo. GtownCo.Lessthan$150k 741 64$150k-$250k 1,592 87$250k-$500k 1,430 306$500k-$1.0MM 379 166$1MM+ 109 87
#ListingsHorryCo. 4,251Georgetown 710
Total 4,961AverageListPrice $352,575MedianListPrice $249,999
HorryCo. GtownCo.Lessthan$100k 1,026 22$100k-$150k 952 78$150k-$200k 559 57$200k-$400k 792 87$400k-$750k 149 71$750k+ 22 21
#ListingsHorryCo. 3,500Georgetown 336
Total 3,836AverageListPrice $187,615MedianListPrice $139,900
HorryCo. GtownCo.Lessthan$25k 249 77$25k-$50k 482 73$50k-$75k 254 73$75k-$100k 145 63$100k-$175k 173 129$175k-250k 118 88$250k+ 93 137
#ListingsHorryCo. 1,514Georgetown 640
Total 2,154AverageListPrice $132,782MedianListPrice $65,000
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4Researchperformedby
GrandStrandInventoryTrendsSFRInventory-January
HistoricalData
CondoInventoryJanuary
HistoricalData
May-105,453
Dec-114,340
Jan-164,961
4,0004,2004,4004,6004,8005,0005,2005,4005,600
4,7254,086 3,989 3,892 3,836
2012 2013 2014 2015 2016
Jun-105,748
Dec-133,930
Jan-163,836
3,500
4,000
4,500
5,000
5,500
6,000
4,511 4,4944,639
5,003 4,961
2012 2013 2014 2015 2016
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5Researchperformedby
ClosedSalesSFRJanuary YeartoDate
HistoricalData
YearOverYear
0
20
40
60
80
100
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016
310378 388
2014 2015 2016
310378 388
2014 2015 2016
Jan-09149
Jun-15756
Jan-16388
100
200
300
400
500
600
700
800
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
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6Researchperformedby
MedianSalesPriceSFR
January YeartoDate
HistoricalData
$186,314
$181,850
$196,680
2014 2015 2016
$186,314
$181,850
$196,680
2014 2015 2016
Jun-06$242,310
Sep-12$160,163
Jan-16$196,680
$150,000$160,000$170,000$180,000$190,000$200,000$210,000$220,000$230,000$240,000$250,000
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
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7Researchperformedby
SoldtoListPriceRatioSFR
January YeartoDate
HistoricalData
94% 94% 94%
2014 2015 2016
94% 94% 94%
2014 2015 2016
Jan-0698%
January-09&Apr-1186%
Jan-1694%
80828486889092949698
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
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8Researchperformedby
NewConstructionvsResaleSFR%ofTotalSales
January YeartoDate
HistoricalData%ofTotalSales
Apr-1322%
Jun-1336%
Dec-1336%
Jan-1635%
Apr-1378%
Jun-1364%
Dec-1364%
Jan-1665%
0
100
200
300
400
500
600
700
800
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Sep-11
Nov-11
Jan-12
Mar-12
May-12
Jul-1
2
Sep-12
Nov-12
Jan-13
Mar-13
May-13
Jul-1
3
Sep-13
Nov-13
Jan-14
Mar-14
May-14
Jul-1
4
Sep-14
Nov-14
Jan-15
Mar-15
May-15
Jul-1
5
Sep-15
Nov-15
Jan-16
TotalSFRSales %NewConstruction %Resale
34% 33% 35%
66% 67% 65%
2014 2015 2016
NewConstruction Resale
34% 33% 35%
66% 67% 65%
2014 2015 2016
NewConstruction Resale
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9Researchperformedby
NewConstructionvsResaleSFRMedianSalesPrice
January YeartoDate
HistoricalDataMedianSalesPrice
Aug-12$183,320
Mar-14$249,440
Jan-16$223,775
Nov-11$145,000
Aug-15$192,000
Jan-16$187,000
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
Sep-11
Nov-11
Jan-12
Mar-12
May-12
Jul-1
2
Sep-12
Nov-12
Jan-13
Mar-13
May-13
Jul-1
3
Sep-13
Nov-13
Jan-14
Mar-14
May-14
Jul-1
4
Sep-14
Nov-14
Jan-15
Mar-15
May-15
Jul-1
5
Sep-15
Nov-15
Jan-16
NewConstruction Resale
$223,544 $220,000 $223,775
$169,400 $166,100$187,000
2014 2015 2016
NewConstruction Resale
$223,544 $220,000 $223,775
$169,400 $166,100$187,000
2014 2015 2016
NewConstruction Resale
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10Researchperformedby
ClosedSalesCondo January YeartoDate
HistoricalData
YearOverYear
0
20
40
60
80
100
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016
244
258
248
2014 2015 2016
244
258
248
2014 2015 2016
May-06845
Jan-09117 Jan-16
248100200300400500600700800900
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
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11Researchperformedby
MedianSalesPriceCondo
January YeartoDate
HistoricalData
SoldtoListPriceRatioCondo
January YeartoDate
HistoricalData
$109,950
$98,250
$116,500
2014 2015 2016
$109,950
$98,250
$116,500
2014 2015 2016
91%90%
92%
2014 2015 2016
91%90%
92%
2014 2015 2016
Mar-06&Apr-06
98%
Apr-09&May-0981%
Jan-1692%
7580859095
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
Jun-07$249,921
Nov-11$93,450
Jan-16$116,500
$50,000
$100,000
$150,000
$200,000
$250,000
Jan-06
Jun-06
Nov-06
Apr-0
7
Sep-07
Feb-08
Jul-0
8
Dec-08
May-09
Oct-0
9
Mar-10
Aug-10
Jan-11
Jun-11
Nov-11
Apr-1
2
Sep-12
Feb-13
Jul-1
3
Dec-13
May-14
Oct-1
4
Mar-15
Aug-15
Jan-16
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ClosedSalesResidentialLot
January YeartoDate
HistoricalData
YearOverYear
0
20
40
60
80
100
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016
7358
87
2014 2015 2016
7358
87
2014 2015 2016
Apr-06266
Jan-0911
Jan-1687
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
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13Researchperformedby
MedianSalesPriceResidentialLotJanuary YeartoDate
HistoricalData
SoldtoListPriceRatioResidentialLotJanuary YeartoDate
HistoricalData
$53,000$45,000
$36,000
2014 2015 2016
$53,000$45,000
$36,000
2014 2015 2016
Aug-06$130,000
Nov-11$15,000
Jan-16$36,000
$0
$50,000
$100,000
$150,000
Jan-06
Jun-06
Nov-06
Apr-0
7
Sep-07
Feb-08
Jul-0
8
Dec-08
May-09
Oct-0
9
Mar-10
Aug-10
Jan-11
Jun-11
Nov-11
Apr-1
2
Sep-12
Feb-13
Jul-1
3
Dec-13
May-14
Oct-1
4
Mar-15
Aug-15
Jan-16
82%
79%81%
2014 2015 2016
82%
79%81%
2014 2015 2016
Apr-0699%
Nov-1147%
Jan-1681%
40
60
80
100
120
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