market activity for the coastal carolinas association of ... · june 2019, reflecting pent-up...

June 2020 Quick Facts

Change in Change inClosed Sales All Properties

Closed SalesSingle-Family Only

23456789

10111213

Current as of July 10, 2020. All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Report © 2020 ShowingTime.

Condo Market Overview

Percent of List Price ReceivedHousing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory

New ListingsPending SalesClosed SalesDays on Market Until SaleMedian Sales PriceAverage Sales Price

Monthly Indicators

+ 6.7% + 9.3% + 2.5%While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers.

Closed Sales increased 9.3 percent for single-family homes and 2.5 percent for condos. Pending Sales increased 45.7 percent for single-family homes and 44.3 percent for condos. Inventory decreased 20.8 percent for single-family homes and 4.3 percent for condos.

The Median Sales Price was down 0.4 percent to $242,995 for single-family homes but increased 3.6 percent to $145,000 for condos. Days on Market increased 7.0 percent for single-family homes and 12.2 percent for condos. Supply decreased 27.3 percent for single-family homes and 5.7 percent for condos.

While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.

A research tool provided by the Coastal Carolinas Association of REALTORS®. Percent changes are calculated using rounded figures.

Single-Family Market Overview

Change inClosed SalesCondo Only

Single-Family Market Overview

Key Metrics Historical Sparkbars 6-2019 6-2020 Percent Change YTD 2019 YTD 2020 Percent Change

--

Months Supply 5.5 4.0 - 27.3% -- -- --

4,066 3,220 - 20.8% -- --

Current as of July 10, 2020. All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®. Report © 2020 ShowingTime. | 2

0.0%

Affordability Index 97 97 0.0% 100 97 - 3.0%

Pct. of List Price Received 97.7% 97.3% - 0.4% 97.3% 97.3%

Homes for Sale

+ 2.8%

Avg. Sales Price $274,341 $295,159 + 7.6% $273,393 $286,098 + 4.6%

Median Sales Price $244,080 $242,995 - 0.4% $238,000 $244,690

+ 1.1%

Days on Market 128 137 + 7.0% 139 146 + 5.0%

Closed Sales 875 956 + 9.3% 4,493 4,541

6,369 - 9.0%

Pending Sales 818 1,192 + 45.7% 4,949 5,191 + 4.9%

7,001

Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Single-family homes only.

New Listings 1,128 1,132 + 0.4%

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

Condo Market Overview

Key Metrics Historical Sparkbars 6-2019 6-2020 Percent Change YTD 2019 YTD 2020 Percent Change

--

Months Supply 5.3 5.0 - 5.7% -- -- --

Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Condo properties only.

New Listings 608 703 + 15.6% 4,054 - 5.7%

Pending Sales 540 779 + 44.3% 3,337 3,032 - 9.1%

4,301

Closed Sales 519 532 + 2.5% 3,086 2,554 - 17.2%

+ 0.8%

$144,000 + 5.9%

Days on Market 115 129 + 12.2% 126 127

Median Sales Price $140,000 $145,000 + 3.6% $136,000

+ 4.3%

Pct. of List Price Received 96.0% 96.0% 0.0% 96.0% 96.0% 0.0%

Avg. Sales Price $162,969 $172,314 + 5.7% $160,501 $167,438


- 5.7%Affordability Index 169 163 - 3.6% 174 164

Homes for Sale 2,529 2,419 - 4.3% -- --

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

6-2017 6-2018 6-2019 6-2020

New Listings

New Listings Single-FamilyYear-Over-Year

Change CondoYear-Over-Year

Change

Jul-2019 1,221 +19.2% 728 +16.1%

Aug-2019 1,159 -0.8% 665 -12.2%

Sep-2019 933 +44.7% 622 +47.0%

Oct-2019 1,124 +5.1% 670 +1.8%

Nov-2019 884 -0.3% 536 -3.2%

Dec-2019 706 +4.9% 422 +13.4%

Jan-2020 1,114 -7.8% 807 +1.8%

Feb-2020 1,151 +9.7% 730 +6.4%

Mar-2020 1,137 -5.6% 737 +4.7%

Apr-2020 852 -30.7% 410 -47.7%

May-2020 983 -16.9% 667 -8.1%

Jun-2020 1,132 +0.4% 703 +15.6%

12-Month Avg 1,033 -0.6% 641 +0.1%

Historical New Listings by Month


A count of the properties that have been newly listed on the market in a given month.

1,039

622

1,128

608

1,132

703

Single-Family Condo

June

200

400

600

800

1,000

1,200

1,400

1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

6,667

4,176

7,001

4,301

6,369

4,054

Single-Family Condo

Year to Date

2018 2019 2020

+ 15.6%- 2.3%+ 0.4%+ 8.6% + 3.0%- 9.0%+ 5.0% - 5.7%

2018 2019 2020 2018 2019 2020 2018 2019 2020

- 15.5% - 5.5% - 5.5%+ 2.3%

Pending Sales

Pending Sales Single-FamilyYear-Over-Year


Change

Jul-2019 881 +4.4% 570 +10.5%

Aug-2019 900 +3.3% 545 +9.4%

Sep-2019 675 +34.7% 402 +34.0%

Oct-2019 849 +25.8% 469 +7.6%

Nov-2019 716 +10.0% 436 +9.0%

Dec-2019 536 +22.4% 329 +13.4%

Jan-2020 763 +3.5% 506 -3.6%

Feb-2020 785 +5.1% 527 +5.0%

Mar-2020 810 -6.7% 355 -40.5%

Apr-2020 642 -28.3% 263 -56.2%

May-2020 999 +13.0% 602 +5.1%

Jun-2020 1,192 +45.7% 779 +44.3%

12-Month Avg* 744 +9.2% 481 +0.1%

Historical Pending Sales by Month


A count of the properties on which offers have been accepted in a given month.

855

549

818

540

1,192

779

Single-Family Condo

June

0

200

400

600

800

1,000

1,200

1,400

1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

4,901

3,306

4,949

3,337

5,191

3,032

Single-Family Condo

Year to Date

2018 2019 2020

+ 44.3%- 1.6%+ 45.7%- 4.3% + 0.9%+ 4.9%+ 1.0% - 9.1%

2018 2019 2020 2018 2019 2020 2018 2019 2020

+ 1.3% + 4.4% + 3.3%+ 6.6%

Closed Sales

Closed Sales Single-FamilyYear-Over-Year


Change

Jul-2019 894 +11.2% 536 -0.4%

Aug-2019 859 -6.6% 598 +0.8%

Sep-2019 858 +74.4% 482 +42.2%

Oct-2019 775 -14.5% 454 -8.5%

Nov-2019 749 +12.6% 440 +8.6%

Dec-2019 775 +21.7% 468 +20.9%

Jan-2020 651 +12.2% 393 +8.0%

Feb-2020 643 +7.0% 451 +1.8%

Mar-2020 855 +5.7% 497 -9.1%

Apr-2020 763 -3.4% 348 -39.7%

May-2020 673 -19.7% 333 -47.6%

Jun-2020 956 +9.3% 532 +2.5%

12-Month Avg* 743 +6.0% 487 -5.3%

Historical Closed Sales by Month


A count of the actual sales that closed in a given month.

902

557

875

519

956

532

Single-Family Condo

June

0

200

400

600

800

1,000

1,200

1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

4,508

3,036

4,493

3,086

4,541

2,554

Single-Family Condo

Year to Date

2018 2019 2020

+ 2.5%- 6.8%+ 9.3%- 3.0% + 1.6%+ 1.1%- 0.3% - 17.2%

2018 2019 2020 2018 2019 2020 2018 2019 2020

+ 5.4% + 6.5% + 1.8%- 8.2%

Days on Market Until Sale

Days on Market Single-FamilyYear-Over-Year


Change

Jul-2019 133 +1.5% 118 -6.3%

Aug-2019 129 -7.9% 128 -0.8%

Sep-2019 133 -8.9% 120 +0.8%

Oct-2019 137 -8.7% 132 -10.8%

Nov-2019 126 -13.1% 137 +13.2%

Dec-2019 131 -9.7% 120 -3.2%

Jan-2020 146 +2.8% 131 +5.6%

Feb-2020 146 -0.7% 128 -3.8%

Mar-2020 148 +2.8% 122 -12.2%

Apr-2020 153 +7.0% 113 -12.4%

May-2020 147 +8.1% 137 +17.1%

Jun-2020 137 +7.0% 129 +12.2%

12-Month Avg* 141 -1.8% 127 -1.0%

Historical Days on Market Until Sale by Month* Days on Market for all properties from July 2019 through June 2020. This is not the average of the individual figures above.


Average number of days between when a property is listed and when an offer is accepted in a given month.

130120

128115

137129

Single-Family Condo

June

0

50

100

150

200

250

1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

142

126139

126

146

127

Single-Family Condo

Year to Date

2018 2019 2020

+ 12.2%- 4.2%+ 7.0%- 1.5% 0.0%+ 5.0%- 2.1% + 0.8%

2018 2019 2020 2018 2019 2020 2018 2019 2020

- 6.5% - 0.7% - 14.9%- 16.7%

Median Sales Price

Median Sales Price Single-FamilyYear-Over-Year


Change

Jul-2019 $235,685 +7.6% $142,250 +8.4%

Aug-2019 $237,500 +3.9% $148,250 +6.2%

Sep-2019 $249,900 -0.0% $142,700 +1.9%

Oct-2019 $234,000 +1.7% $146,350 +2.9%

Nov-2019 $240,000 +1.7% $145,000 +7.4%

Dec-2019 $249,500 +4.0% $140,000 +0.5%

Jan-2020 $240,000 +5.2% $147,500 +10.1%

Feb-2020 $247,000 +5.8% $138,000 +6.6%

Mar-2020 $245,000 +2.1% $145,000 +7.4%

Apr-2020 $252,450 +4.8% $146,000 +9.9%

May-2020 $236,900 +1.7% $141,000 +0.8%

Jun-2020 $242,995 -0.4% $145,000 +3.6%

12-Month Avg* $235,000 +3.1% $137,000 +5.5%

Historical Median Sales Price by Month* Median Sales Price for all properties from July 2019 through June 2020. This is not the average of the individual figures above.


Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

$237,070

$135,000

$244,080

$140,000

$242,995

$145,000

Single-Family Condo

June

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

$223,560

$130,000

$238,000

$136,000

$244,690

$144,000

Single-Family Condo

Year to Date

2018 2019 2020

+ 3.6%+ 3.7%- 0.4%+ 3.0% + 4.6%+ 2.8%+ 6.5% + 5.9%

2018 2019 2020 2018 2019 2020 2018 2019 2020

+ 5.4% + 7.5% + 3.2%+ 5.9%

Average Sales Price

Avg. Sales Price Single-FamilyYear-Over-Year


Change

Jul-2019 $272,747 +5.7% $168,216 +9.2%

Aug-2019 $274,472 -0.4% $170,807 +2.5%

Sep-2019 $278,213 -3.0% $168,339 +0.3%

Oct-2019 $271,044 -0.9% $177,461 +10.4%

Nov-2019 $276,006 +4.8% $172,471 +7.4%

Dec-2019 $272,368 -5.6% $172,947 +8.7%

Jan-2020 $296,365 +14.4% $174,005 +6.5%

Feb-2020 $281,583 +2.1% $161,655 +9.5%

Mar-2020 $282,414 +2.6% $165,441 +7.3%

Apr-2020 $281,221 -1.6% $168,070 +6.9%

May-2020 $277,795 +3.9% $162,049 -6.9%

Jun-2020 $295,159 +7.6% $172,314 +5.7%

12-Month Avg $279,949 +2.4% $169,481 +5.4%

Historical Average Sales Price by Month* Avg. Sales Price for all properties from July 2019 through June 2020. This is not the average of the individual figures above.


Average sales price for all closed sales, not accounting for seller concessions, in a given month.

$268,818

$161,530

$274,341

$162,969

$295,159

$172,314

Single-Family Condo

June

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

$255,489

155,436

$273,393

$160,501

$286,098

$167,438

Single-Family Condo

Year to Date

2018 2019 2020

+ 5.7%+ 0.9%+ 7.6%+ 2.1% + 3.3%+ 4.6%+ 7.0% + 4.3%

2018 2019 2020 2018 2019 2020 2018 2019 2020

+ 1.6% + 1.5% + 3.1%+ 5.6%

Percent of List Price Received

Pct. of List Price Received Single-Family

Year-Over-YearChange Condo

Year-Over-YearChange

Jul-2019 97.3% -0.2% 96.0% -0.2%

Aug-2019 97.3% -0.3% 96.3% 0.0%

Sep-2019 97.7% +0.5% 96.1% -0.2%

Oct-2019 97.3% -0.4% 96.0% -0.4%

Nov-2019 97.6% +0.3% 96.3% +0.5%

Dec-2019 97.5% 0.0% 96.1% +0.7%

Jan-2020 97.0% -0.1% 95.9% +0.2%

Feb-2020 97.1% -0.2% 95.9% +0.3%

Mar-2020 97.6% +0.4% 96.3% +0.2%

Apr-2020 97.4% +0.3% 96.2% +0.3%

May-2020 97.4% +0.3% 95.8% -0.5%

Jun-2020 97.3% -0.4% 96.0% 0.0%

12-Month Avg 97.4% +0.0% 96.1% +0.0%

Historical Percent of List Price Received by Month* Pct. of List Price Received for all properties from July 2019 through June 2020. This is not the average of the individual figures above.


Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

97.7% 96.0%97.7% 96.0%97.3% 96.0%

Single-Family Condo

June

88.0%

90.0%

92.0%

94.0%

96.0%

98.0%

100.0%

1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

97.4% 95.9%97.3% 96.0%97.3% 96.0%

Single-Family Condo

Year to Date

2018 2019 2020

0.0%0.0%- 0.4%0.0% + 0.1%0.0%- 0.1% 0.0%

2018 2019 2020 2018 2019 2020 2018 2019 2020

+ 0.7% + 0.4% + 0.3%+ 0.3%

Housing Affordability Index

Affordability Index Single-FamilyYear-Over-Year


Change

Jul-2019 100 -7.4% 167 -7.2%

Aug-2019 100 -3.8% 160 -5.9%

Sep-2019 95 0.0% 166 -1.8%

Oct-2019 101 -1.9% 162 -2.4%

Nov-2019 99 -1.0% 163 -6.9%

Dec-2019 95 -4.0% 169 -0.6%

Jan-2020 99 -4.8% 161 -9.0%

Feb-2020 96 -5.0% 172 -6.0%

Mar-2020 97 -2.0% 163 -6.9%

Apr-2020 94 -4.1% 162 -9.0%

May-2020 100 -2.0% 168 -0.6%

Jun-2020 97 0.0% 163 -3.6%

12-Month Avg 98 -3.0% 165 -5.0%

Historical Housing Affordability Index by Month


This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

100

175

97

169

97

163

Single-Family Condo

June

50

100

150

200

250

300

1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

106

182

100

174

97

164

Single-Family Condo

Year to Date

2018 2019 2020

- 3.6%- 3.4%0.0%- 3.0% - 4.4%- 3.0%- 5.7% - 5.7%

2018 2019 2020 2018 2019 2020 2018 2019 2020

- 4.8% - 7.0% - 3.2%- 5.9%

Inventory of Homes for Sale

Homes for Sale Single-FamilyYear-Over-Year


Change

Jul-2019 4,082 +5.5% 2,508 +6.4%

Aug-2019 3,994 +4.1% 2,443 -1.5%

Sep-2019 3,943 +6.3% 2,510 +1.5%

Oct-2019 3,913 +1.9% 2,536 -0.1%

Nov-2019 3,843 +3.7% 2,481 -2.9%

Dec-2019 3,687 +2.3% 2,370 -3.1%

Jan-2020 3,741 0.0% 2,492 -2.0%

Feb-2020 3,890 +1.6% 2,551 -2.4%

Mar-2020 3,919 +0.2% 2,775 +8.1%

Apr-2020 3,823 -3.8% 2,755 +6.4%

May-2020 3,552 -11.1% 2,654 +2.9%

Jun-2020 3,220 -20.8% 2,419 -4.3%

12-Month Avg* 3,841 -1.0% 2,523 +0.7%

Historical Inventory of Homes for Sale by Month


The number of properties available for sale in active status at the end of a given month.

3,921

2,362

4,066

2,529

3,220

2,419

Single-Family Condo

June

2,000

3,000

4,000

5,000

6,000

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

2018

- 4.3%+ 7.1%- 20.8%+ 3.7%- 0.0% - 15.0%2019 2020 2018 2019 2020

Months Supply of Inventory

Months Supply Single-FamilyYear-Over-Year


Change

Jul-2019 5.5 +5.8% 5.2 +8.3%

Aug-2019 5.3 +3.9% 5.0 0.0%

Sep-2019 5.2 +4.0% 5.0 -2.0%

Oct-2019 5.0 -3.8% 5.1 -3.8%

Nov-2019 4.9 -2.0% 4.9 -7.5%

Dec-2019 4.7 -4.1% 4.7 -7.8%

Jan-2020 4.7 -6.0% 4.9 -7.5%

Feb-2020 4.9 -5.8% 5.0 -7.4%

Mar-2020 4.9 -7.5% 5.7 +7.5%

Apr-2020 5.0 -7.4% 6.0 +11.1%

May-2020 4.5 -15.1% 5.7 +7.5%

Jun-2020 4.0 -27.3% 5.0 -5.7%

12-Month Avg* 5.2 -5.4% 5.2 -0.5%

Historical Months Supply of Inventory by Month* Months Supply for all properties from July 2019 through June 2020. This is not the average of the individual figures above.


The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

5.34.8

5.5 5.3

4.0

5.0

Single-Family Condo

June

0.0

20.0

40.0

60.0

80.0

100.0

120.0

1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019 1-2020

Single-Family Condo

- 5.7%+ 10.4%- 27.3%+ 3.8%- 7.0% - 21.3%2018 2019 2020 2018 2019 2020

market activity for the coastal carolinas association of ... · june 2019, reflecting pent-up...

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