Grand Strand Market Report 2018 was a strong month for sales activity in the Grand Strand with SFR and condo sales volume up 5.11% and 19.14%, respectively, for the month. Residential lot sales are also up 5.62%, compared to 2017 levels. SFR sales volume is up 5.11% compared to 2017 and maintains its 5.69% growth rate for the year. Median sales price is up to $227,000, a 9.13% increase from 2017. Sales prices for new construction and resales are also up 11.46% and 7.04%, respectively, when compared to 2017. The average sold-to-list ratio for Single Family Residential sales in was 96%, flat compared to the same month in 2017. Condo sales volume is up 19.14% compared to 2017. Year-to-date sales are also up 3.91% from 2017 levels. The median sales price is up to $132,000, a 1.54% increase from 2017. Condo inventory continued to tighten as inventory is down as compared to prior year levels: down 7.82% compared to 2017. The average sold to list ratio for condo sales in was 94%, up basis points compared to the same month in 2017. Residential lot sales were up 5.62% in compared to 2017. The median sales price increased to $58,000, up 16.00% compared to the same month in 2017. Sold to list ratios are at 89%, up 400 basis points when compared to 2017. 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 $227,000 $132,000 $58,000 -
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 Be sure to check out our website for daily updates and breaking news in the real estate and financial markets, also Like us on Facebook www.facebook.com/sitetechsystems Follow us on Twitter @SiteTechSystems www.sitetechsystems.com 2
Grand Strand Active Inventory Single Family Residential # Listings Horry Co. 4,513 Georgetown 713 Total 5,226 Average List Price $379,914 Median List Price $280,284 Condo/Townhome # Listings Horry Co. 2,902 Georgetown 268 Total 3,170 Average List Price $207,401 Median List Price $168,700 Distribution by Price Range Horry Co. G town Co. Less than $150k 247 51 $150k - $250k 1,751 107 $250k - $500k 1,918 282 $500k - $1.0 MM 479 174 $1 MM + 118 99 Distribution by Price Range Horry Co. G town Co. Less than $k 573 16 $k - $150k 737 47 $150k - $200k 577 36 $200k - $400k 836 84 $400k - $750k 161 77 $750k + 18 8 Residential Lot # Listings Horry Co. 1,403 Georgetown 535 Total 1,938 Average List Price $134,996 Median List Price $79,900 Distribution by Price Range Horry Co. G town Co. Less than $25k 117 69 $25k - $50k 339 54 $50k - $75k 268 49 $75k - $k 179 73 $k - $175k 258 120 $175k - 250k 131 73 $250k + 111 97 3
May-10 Aug-10 Nov-10 Feb-11 May-11 Aug-11 Feb-12 May-12 Aug-12 Nov-12 Feb-13 May-13 Aug-13 Nov-13 Feb-14 May-14 Aug-14 Feb-15 May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 May-10 Aug-10 Nov-10 Feb-11 May-11 Aug-11 Feb-12 May-12 Aug-12 Nov-12 Feb-13 May-13 Aug-13 Nov-13 Feb-14 May-14 Aug-14 Feb-15 May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Grand Strand Inventory Trends SFR Inventory - 5,485 5,346 5,287 5,286 5,226 2014 2015 5,800 5,600 5,400 5,200 5,000 4,800 4,600 4,400 4,200 4,000 May-10 5,453 Dec-11 4,340 5,226 Condo Inventory 4,256 4,004 4,021 3,439 3,170 2014 2015 6,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500 Jun-10 5,748 Dec-13 3,930 3,170 4
Jul-06 Dec-06 May-07 Oct-07 Mar-08 Aug-08 Jun-09 Nov-09 Apr-10 Sep-10 Feb-11 Jul-11 Dec-11 May-12 Oct-12 Mar-13 Aug-13 Jan-14 Jun-14 Apr-15 Sep-15 Feb-16 Dec-16 May-17 Oct-17 Mar-18 Closed Sales SFR 705 741 4,659 4,924 667 4,227 900 800 700 600 500 400 300 200 149 Jun-15 756 741 Year Over Year 0 800 600 400 200 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 2018 5
Feb-06 Jul-06 Dec-06 May-07 Oct-07 Mar-08 Aug-08 Jun-09 Nov-09 Apr-10 Sep-10 Feb-11 Jul-11 Dec-11 May-12 Oct-12 Mar-13 Aug-13 Jan-14 Jun-14 Apr-15 Sep-15 Feb-16 Dec-16 May-17 Oct-17 Mar-18 Median Sales Price SFR $227,000 $230,000 $211,425 $208,000 $206,500 $215,000 $250,000 $240,000 $230,000 $220,000 $210,000 $200,000 $190,000 $180,000 $170,000 $160,000 $150,000 Jun-06 $242,310 Sep-12 $160,163 $227,000 6
Jan-06 Jun-06 Nov-06 Apr-07 Sep-07 Feb-08 Jul-08 Dec-08 May-09 Oct-09 Mar-10 Aug-10 Jan-11 Jun-11 Apr-12 Sep-12 Feb-13 Jul-13 Dec-13 May-14 Oct-14 Mar-15 Aug-15 Jan-16 Jun-16 Nov-16 Apr-17 Sep-17 Feb-18 Sold to List Price Ratio SFR 96% 96% 96% 96% 96% 96% 105 95 90 Jan-06 98% 96% 85 80-09 & Apr-11 86% 7
Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 New Construction vs Resale SFR % of Total Sales 67% 67% 68% 64% 66% 65% 33% 33% 32% 36% 34% 35% New Construction Resale New Construction Resale % of Total Sales 90% 900 80% 70% Apr-13 78% 65% 800 700 60% 50% Jun-13 64% Dec-13 64% 68% 600 500 40% Jun-13 36% Dec-13 36% 35% 400 30% 20% 10% Apr-13 22% 32% 300 200 0% 0 Total SFR Sales % New Construction % Resale 8
Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 New Construction vs Resale SFR Median Sales Price $215,858 $225,000 $206,500 $199,929 $250,782 $214,000 $226,954 $225,000 $194,000 $199,928 $251,308 $217,000 New Construction Resale New Construction Resale Median Sales Price $280,000 $260,000 Mar-14 $249,440 $226,101 $250,782 $240,000 $220,000 $200,000 Aug-12 $183,320 $180,000 $214,000 $160,000 $140,000 $145,000 $120,000 Aug-14 $184,900 $179,900 New Construction Resale 9
Apr-06 Sep-06 Feb-07 Jul-07 Dec-07 May-08 Oct-08 Mar-09 Aug-09 Jan-10 Jun-10 Nov-10 Apr-11 Sep-11 Feb-12 Jul-12 Dec-12 May-13 Oct-13 Mar-14 Aug-14 Jan-15 Jun-15 Nov-15 Sep-16 Feb-17 Jul-17 Dec-17 May-18 Closed Sales Condo 417 444 529 2,918 3,423 3,557 900 800 700 600 500 400 300 200 May-06 845 117 529 Year Over Year 800 600 400 200 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 2018 10
Jul-08 Nov-08 Mar-09 Jul-09 Nov-09 Mar-10 Jul-10 Nov-10 Mar-11 Jul-11 Mar-12 Jul-12 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 Mar-15 Jul-15 Nov-15 Mar-16 Nov-16 Mar-17 Jul-17 Nov-17 Mar-18 Apr-07 Sep-07 Feb-08 Jul-08 Dec-08 May-09 Oct-09 Mar-10 Aug-10 Jan-11 Jun-11 Apr-12 Sep-12 Feb-13 Jul-13 Dec-13 May-14 Oct-14 Mar-15 Aug-15 Jan-16 Jun-16 Nov-16 Apr-17 Sep-17 Feb-18 Median Sales Price Condo $130,000 $132,000 $127,000 $130,000 $120,000 $117,500 $250,000 $200,000 $150,000 $,000 $50,000 Jun-07 $249,921 $93,450 $132,000 Sold to List Price Ratio Condo 92% 93% 94% 92% 94% 94% 95 90 85 80 75 Apr-09 & -09 81% 94% 11
Mar-06 Aug-06 Jan-07 Jun-07 Nov-07 Apr-08 Sep-08 Feb-09 Jul-09 Dec-09 May-10 Oct-10 Mar-11 Aug-11 Jan-12 Jun-12 Nov-12 Apr-13 Sep-13 Feb-14 Jul-14 Dec-14 May-15 Oct-15 Mar-16 Aug-16 Jan-17 Jun-17 Nov-17 Apr-18 Closed Sales Residential Lot 89 94 623 69 604 567 300 250 Apr-06 266 200 150 94 50 11 0 Year Over Year 120 80 60 40 20 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 2018 12
Feb-06 Jul-06 Dec-06 May-07 Oct-07 Mar-08 Aug-08 Jun-09 Nov-09 Apr-10 Sep-10 Feb-11 Jul-11 Dec-11 May-12 Oct-12 Mar-13 Aug-13 Jan-14 Jun-14 Apr-15 Sep-15 Feb-16 Dec-16 May-17 Oct-17 Mar-18 Jul-06 Dec-06 May-07 Oct-07 Mar-08 Aug-08 Jun-09 Nov-09 Apr-10 Sep-10 Feb-11 Jul-11 Dec-11 May-12 Oct-12 Mar-13 Aug-13 Jan-14 Jun-14 Apr-15 Sep-15 Feb-16 Dec-16 May-17 Oct-17 Mar-18 Median Sales Price Residential Lot $56,000 $58,000 $55,000 $50,000 $47,500 $48,500 $150,000 $,000 $50,000 Aug-06 $130,000 $15,000 $58,000 $0 Sold to List Price Ratio Residential Lot 89% 89% 85% 85% 83% 85% 120 80 60 40 Apr-06 99% 47% 89% 13