Grand

Strand Market Report

December 2015
Single Family Residential sales down 5.5% for the month but up 15.6% for 2015;
median sales price rises 6.6% year over year. Condo sales are down 1.7% for the
month and up 8.7% year to date with median sales price relatively flat year over
year. Residential Lot sales down for the month and flat for the year.

SFR sales decreased 5.5% in December, compared to the same month in 2014. Despite the
decrease, 2015 sales were at record levels as they are up 15.6% compared to 2014. SFR
inventory decreased from November and is down slightly over comparable periods. Median
sales price continues its upward trend at $208,813, up 4.7% for the month and 6.6% year to
date. The median sales price is up in both new construction and resale activity, 2.5% and 7%
respectively, year over year compared to 2014. The average sold to list ratio for Single Family
Residential sales in December was 96%, up 100 basis points compared to the same month in
2014. Year to date the average sold to list ratio is 95%, up 100 basis points compared to 2014.

Condo sales decreased 1.7% in December after steady growth throughout the year. For 2015,
sales are up 8.7% compared to 2014. Condo inventory decreased slightly in December, but
remains low as it steadily declines compared to 2014 levels. Median sales price decreased 3.4%
to $114,000 in December with year to date prices up roughly 1% compared to 2014.

Residential lot sales decreased in December with overall year to date sales flat compared to
2014. Median sales price decreased 1.8% in December to $49,000 from $49,900 and is down
9.8% year to date. Sold to list ratios were up 1,500 basis points for the month and 100 basis
points year to date.

At a glance

SFR
Sales
Month

Condo

Inventory

YTD

Month

Median Sales Price

$208,813

Sales
Month

Residential Lot

Inventory

YTD

Month

Median Sales Price

$114,000

Research performed by

Sales

Inventory

Month

YTD

Month

Median Sales Price

$49,000

Contents

Active Inventory
Inventory Trends SFR & Condo
Closed Sales SFR
Median Sales Price SFR
Sold to List Price Ratio SFR
New Construction vs Resale SFR
% of Total Sales
Median Sales Price

4
5
6

8
9

Closed Sales Condo

Median Sales Price Condo
Sold to List Price Ratio Condo

10
11
11

Closed Sales Residential Lot

Median Sales Price Residential Lot
Sold to List Price Ratio Residential Lot

12
13
13

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2
Research performed by

Grand Strand Active Inventory

Single Family Residential

Horry Co.
Georgetown
Total
Average List Price
Median List Price

Distribution by Price Range

Horry Co.
Less than $150k
713
$150k - $250k
1,542
$250k - $500k
1,350
$500k - $1.0 MM
375
$1 MM +
113

# Listings
4,093
723
4,816
$356,030
$249,950

Gtown Co.
63
95
318
162
85

Condo/Townhome

Horry Co.
Georgetown
Total
Average List Price
Median List Price

Distribution by Price Range

Less than $100k
$100k - $150k
$150k - $200k
$200k - $400k
$400k - $750k
$750k +

# Listings
3,380
336
3,716
$188,921
$142,000

Horry Co. Gtown Co.

981
25
914
75
544
62
766
85
154
71
21
18

Residential Lot

Horry Co.
Georgetown
Total
Average List Price
Median List Price

# Listings
1,515
687
2,202
$134,029
$66,250

Distribution by Price Range

Less than $25k
$25k - $50k
$50k - $75k
$75k - $100k
$100k - $175k
$175k - 250k
$250k +

Horry Co. Gtown Co.

225
82
493
76
259
89
139
78
178
131
120
90
101
141

3
Research performed by

Grand Strand Inventory Trends

SFR Inventory - December

4,473

4,340

2011

2012

4,883

4,816

2014

2015

4,564

2013

Historical Data
6,000
5,500

May-10
5,453

5,000
4,500

Dec-15
4,816

Dec-11
4,340

4,000

Condo Inventory December

4,500

Historical Data
6,000
5,500

2011

4,045

3,930

3,837

3,716

2012

2013

2014

2015

Jun-10
5,748

5,000
Dec-13
3,930

4,500
4,000

Dec-15
3,716

3,500

4
Research performed by

Closed Sales SFR

December

528

Year to Date

6,833

499

420

5,911

5,371

2013

2014

2013

2015

2014

2015

Historical Data
800

Jun-15
756

700
600
500

Jan-09
149

400

Dec-15
499

300

Sep-15

May-15

Jan-15

Sep-14

May-14

Jan-14

Sep-13

May-13

Jan-13

Sep-12

Jan-12

May-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

Jan-09

May-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

Jan-06

100

May-06

200

Year Over Year
800
600
400
200
0
Jan

Feb

Mar

Apr

May

Jun

Jul

2014

2015

Aug

Sep

Oct

Nov

Dec

5
Research performed by

Median Sales Price SFR

December

Year to Date

$208,813
$203,000
$190,355

$199,450
$180,413

$193,514

2013

2014

2013

2015

2014

2015

Historical Data
$250,000
$240,000
$230,000
$220,000
$210,000
$200,000
$190,000
$180,000
$170,000
$160,000
$150,000

Dec-15
$208,813

Jun-06
$242,310

Sep-15

Jan-15

May-15

Sep-14

May-14

Jan-14

Sep-13

May-13

Jan-13

Sep-12

Jan-12

May-12

Sep-11

Jan-11

May-11

Sep-10

May-10

Jan-10

Sep-09

May-09

Jan-09

Sep-08

Jan-08

May-08

Sep-07

Jan-07

May-07

Sep-06

May-06

Jan-06

Sep-12
$160,163

% Distressed vs % Non-Distressed SFR

Dec-15
93%

% Distressed

% Non-Distressed

Nov-15

Sep-15

Jul-15

May-15

Mar-15

Jan-15

Nov-14

Sep-14

Jul-14

May-14

Mar-14

Jan-14

Nov-13

Sep-13

Jul-13

May-13

Mar-13

Jan-13

Nov-12

Sep-12

Jul-12

Dec-15
7%
May-12

Mar-12

Jan-12

100% Jan-12
64%
80%
60%
40%
20%
0% 36%

Research performed by

Sold to List Price Ratio SFR

December

Year to Date

95%
96%
94%

93%

95%

95%

2013

2014

2013

2015

2014

2015

Historical Data
Jan-06
98%
Dec-15
96%

Sep-15

May-15

Jan-15

Sep-14

May-14

Jan-14

Sep-13

May-13

Jan-13

Sep-12

May-12

Jan-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

Jan-09

May-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

May-06

December-09 & Apr-11

86%
Jan-06

100
98
96
94
92
90
88
86
84
82
80

7
Research performed by

New Construction vs Resale SFR

% of Total Sales

December

Year to Date

64%

60%

65%

69%

66%

65%

36%

40%

35%

31%

34%

35%

2013

2014

2015

2013

2014

2015

New Construction

New Construction

Resale

Resale

Historical Data % of Total Sales

90%

800
Apr-13
78%

80%

700
Dec-15
65%
600

70%
60%

Jun-13
64%

50%
40%

Dec-13
64%

500
Dec-15400
35%

Dec-13
36%

Jun-13
36%

300

30%

200

20%

Total SFR Sales

% New Construction

Nov-15

Sep-15

Jul-15

May-15

Jan-15

Mar-15

Nov-14

Sep-14

Jul-14

May-14

Mar-14

Jan-14

Nov-13

Sep-13

100

Jul-13

May-13

Jan-13

Nov-12

Sep-12

Jul-12

May-12

Mar-12

Jan-12

Sep-11

0%

Nov-11

10%

Mar-13

Apr-13
22%

% Resale

8
Research performed by

New Construction vs Resale SFR

Median Sales Price

December

Year to Date

$239,000

$227,741
$170,950

$169,900

2013

2014

$228,680
$192,000

2015

New Construction

$230,000

$224,340

$209,900
$169,000

$172,900

$185,000

2013

2014

2015

Resale

New Construction

Resale

Historical Data Median Sales Price

Mar-14
$249,440

$260,000

Dec-15
$228,680

$240,000
$220,000

Aug-12
$183,320

Dec-15
$192,000

$200,000
$180,000
$160,000

New Construction

Nov-15

Sep-15

Jul-15

May-15

Mar-15

Jan-15

Nov-14

Sep-14

Jul-14

May-14

Mar-14

Jan-14

Nov-13

Sep-13

Jul-13

May-13

Mar-13

Jan-13

Nov-12

Sep-12

Jul-12

May-12

Mar-12

Jan-12

Sep-11

$120,000

Nov-11
$145,000
Nov-11

$140,000

Aug-14
$184,900

Resale

9
Research performed by

Closed Sales Condo

December

Year to Date

4,527

351
345

325

2013

2014

2015

4,144

4,165

2013

2014

2015

Historical Data
May-06
845

900
800
700

Dec-15
345

600
500
400

Sep-15

May-15

Jan-15

Sep-14

May-14

Jan-14

Sep-13

May-13

Jan-13

Sep-12

Jan-12

May-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

Jan-09

May-09

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

Jan-06

100

May-06

200

Sep-08

Jan-09
117

300

Year Over Year
600
500
400
300
200
100
0
Jan

Feb

Mar

Apr

May

Jun

Jul

2014

2015

Aug

Sep

Oct

Nov

Dec

10

Research performed by

Median Sales Price Condo

December

Year to Date

$118,000

$115,000

$114,000
$114,500

2013

2014

$114,000

$110,000

2015

2013

2014

2015

Historical Data
Jun-07
$249,921

$250,000
$200,000

Dec-15
$114,000

Nov-11
$93,450

$150,000

Aug-15

Mar-15

Oct-14

May-14

Dec-13

Jul-13

Feb-13

Sep-12

Apr-12

Nov-11

Jun-11

Jan-11

Aug-10

Mar-10

Oct-09

May-09

Dec-08

Jul-08

Feb-08

Sep-07

Apr-07

Nov-06

Jun-06

$50,000

Jan-06

$100,000

Sold to List Price Ratio Condo

December
91%

91%

Year to Date

91%
92%

92%
91%

Historical Data

2014

2015

May-15

Jan-15

Sep-14

May-14

Jan-14

Sep-13

May-13

Jan-13

Sep-12

May-12

Jan-12

Sep-11

May-11

Jan-11

Dec-15
91%
Sep-10

May-10

Jan-10

Sep-09

May-09

Jan-09

May-08

Jan-08

Sep-07

May-07

Sep-08

Apr-09 & May-09

81%

Jan-07

Sep-06

Jan-06

2013

2015

Mar-06
& Apr-06
98%
May-06

100
95
90
85
80
75

2014

Sep-15

2013

11
Research performed by

Closed Sales Residential Lot

December

Year to Date

133

1,097

1,094

78
60

1,082

2013

2014

2013

2015

2014

2015

Historical Data
300

Apr-06
266

250
200

Dec-15
78

150
100

Sep-15

May-15

Jan-15

Sep-14

May-14

Jan-14

Sep-13

May-13

Jan-13

Sep-12

Jan-12

May-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

Jan-09

May-09

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

Jan-06

May-06

50

Sep-08

Jan-09
11

Year Over Year

150
100
50
0
Jan

Feb

Mar

Apr

May

Jun

Jul

2014

2015

Aug

Sep

Oct

Nov

Dec

12

Research performed by

Median Sales Price Residential Lot

December
$49,900

Year to Date

$49,900

$49,000

$45,000

$47,500

2013

2014

$45,000

2013

2015

2014

2015

Historical Data
Aug-06
$130,000

$100,000

Mar-15

Oct-14

May-14

Dec-13

Jul-13

Feb-13

Sep-12

Apr-12

Nov-11

Jun-11

Jan-11

Aug-10

Mar-10

Oct-09

May-09

Dec-08

Jul-08

Feb-08

Sep-07

Apr-07

Nov-06

Jun-06

Jan-06

$50,000
$0

Dec-15
$49,000

Nov-11
$15,000

Aug-15

$150,000

Sold to List Price Ratio Residential Lot

December

Year to Date

91%

86%

82%

76%

2013

2014

2015

81%

81%

2013

2014

2015

Historical Data
Apr-06
99%

120
100

Dec-15
91%

80
60

Sep-15

May-15

Jan-15

Sep-14

May-14

Jan-14

Sep-13

Jan-13

May-13

Sep-12

May-12

Jan-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

May-09

Jan-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

Jan-06

Nov-11
47%
May-06

40

13
Research performed by