Grand

Strand Market Report

February 2016
Single Family Residential sales up 2.1% in February; median sales price rises 4.5%.
Condo sales are up 17.8% for the month with median sales price up 5%.
Residential Lot sales up 20.6% for the month with median sales price up 15.1%.

SFR sales in February increased 2.1%, compared to the same month in 2015. Year to date, SFR
sales are up 6% compared to 2015. SFR inventory is up from January and is expected to
continue a seasonal increase. Median sales price maintained its strength at $203,750, up 4.5%
for the month. The median sales price is up in both new construction and resale activity
compared to February 2015. The average sold to list ratio for Single Family Residential sales in
February was 95%, up 100 basis points compared to the same month in 2015.

Condo sales increased 17.8% in February and are up 8.4% year to date compared to 2015.
Condo inventory increased slightly in February, but remains below its 2015 levels. It is expected
that inventory will increase slightly over the next six months due to seasonality. Median sales
price increased 5% to $115,000 in February and is up 9.5% for the year. The average sold to list
ratio for condo sales in February was 92%, up 200 basis points compared to the same month in
2015.

Residential lot sales decreased 20.6% in February compared to 2015 but remain up 13.2 year to
date. Median sales price is up 15.1% for the month compared to 2015 and down 2.2% year to
date. Sold to list ratios were up 200 basis points for the month and year to date, compared to
2015.

At a glance

SFR
Sales

Condo

Inventory

Sales

Residential Lot

Inventory

Month

YTD

Month

Month

YTD

Month

Sales

Inventory

Month

YTD

Month

Median Sales Price

$203,750

Median Sales Price

$115,000
Research performed by

Median Sales Price

$49,500

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
756
$150k - $250k
1,646
$250k - $500k
1,496
$500k - $1.0 MM
404
$1 MM +
111

# Listings
4,413
718
5,131
$351,204
$250,830

Gtown Co.
62
91
309
165
91

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
3,640
353
3,993
$189,689
$144,900

Horry Co. Gtown Co.

1,035
25
986
77
595
66
833
94
164
69
27
22

Residential Lot

Horry Co.
Georgetown
Total
Average List Price
Median List Price

# Listings
1,541
652
2,193
$130,671
$65,000

Distribution by Price Range

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

Horry Co. Gtown Co.

256
72
486
77
262
76
145
77
176
129
118
87
98
134

3
Research performed by

Grand Strand Inventory Trends

SFR Inventory - February

2012

5,131

2015

2016

4,815

4,696

4,559

5,204

2013

2014

Historical Data
May-10
5,453

Feb-16
5,131
Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

Nov-11

Aug-11

May-11

Feb-11

Nov-10

Aug-10

May-10

Dec-11
4,340

Feb-16

5,600
5,400
5,200
5,000
4,800
4,600
4,400
4,200
4,000

Condo Inventory February

4,645

2012

Historical Data

4,162

4,117

2013

2014

4,018

3,993

2015

2016

Jun-10
5,748

6,000
5,500
5,000

Feb-16
3,993

Dec-13
3,930

4,500

4
Research performed by

Feb-16

Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

Nov-11

Aug-11

May-11

Feb-11

Nov-10

May-10

3,500

Aug-10

4,000

Closed Sales SFR

February

Year to Date

436

427

854

806

349

659

2014

2015

2014

2016

2015

2016

Historical Data
800

Jun-15
756

700
600
500

Jan-09
149

400

Feb-16
436

300

Jan-16

Sep-15

Jan-15

May-15

Sep-14

Jan-14

May-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

100

May-06

200

Year Over Year
460
440
420
400
380
360
340
Jan

Feb

Mar

Apr

May

Jun

Jul

2015

2016

Aug

Sep

Oct

Nov

Dec

5
Research performed by

Median Sales Price SFR

February

Year to Date

$203,750

$202,500

$195,000
$190,000

$188,995

$187,500

2014

2015

2014

2016

2015

2016

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

Feb-16
$203,750

Jun-06
$242,310

Jan-16

Sep-15

May-15

Jan-15

Sep-14

Jan-14

May-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

Jan-09

May-09

Sep-08

May-08

Jan-08

Sep-07

Jan-07

May-07

Sep-06

May-06

Jan-06

Sep-12
$160,163

6
Research performed by

Sold to List Price Ratio SFR

February

Year to Date

95%

95%
94%
94%
92%

93%

2014

2015

2014

2016

2015

2016

Historical Data
Jan-06
98%

Feb-16
95%

Jan-16

Sep-15

Jan-15

May-15

Sep-14

Jan-14

May-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

May-09

Jan-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

May-06

February-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

February

Year to Date

66%

66%

65%

68%

67%

64%

34%

34%

35%

32%

33%

36%

2014

2015

2016

2014

2015

2016

New Construction

New Construction

Resale

Resale

Historical Data % of Total Sales

90%

800
Apr-13
78%

80%

700
Feb-16
65%
600

70%
60%

Jun-13
64%

50%

Dec-13
64%

500
400

40%

Dec-13
36%

Jun-13
36%

300
Feb-16
35% 200

30%
20%

Total SFR Sales

% New Construction

0
Jan-16

Sep-15

Nov-15

Jul-15

May-15

Jan-15

Mar-15

Nov-14

Sep-14

Jul-14

Mar-14

May-14

Jan-14

Nov-13

Jul-13

100

Sep-13

May-13

Jan-13

Sep-12

Nov-12

Jul-12

May-12

Jan-12

Mar-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

February

Year to Date

$235,921

$229,208

$227,935

$225,000

$170,750

$176,450

$185,000

2014

2015

2016

New Construction

$234,000

$224,500

$170,000

$171,000

2014

2015

Resale

$185,000

2016

New Construction

Resale

Historical Data Median Sales Price

Mar-14
$249,440

$260,000

Feb-16
$235,921

$240,000
Aug-12
$183,320

$220,000
$200,000
$180,000

Oct-15
$200,000

$160,000

New Construction

Resale

Jan-16

Nov-15

Sep-15

Jul-15

Mar-15

May-15

Jan-15

Nov-14

Sep-14

Jul-14

May-14

Mar-14

Jan-14

Sep-13

Nov-13

Jul-13

May-13

Jan-13

Mar-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

Feb-16
$185,000

9
Research performed by

Closed Sales Condo

February

Year to Date

324

578

299
543

275

2014

2015

533

2014

2016

2015

2016

Historical Data
May-06
845

900
800
700

Feb-16
324

600
500
400

Jan-16

Sep-15

Jan-15

May-15

Sep-14

Jan-14

May-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

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
400
300
200
100
0
Jan

Feb

Mar

Apr

May

Jun

Jul

2015

2016

Aug

Sep

Oct

Nov

Dec

10
Research performed by

Median Sales Price Condo

February

Year to Date

$115,000

$115,000

$109,500
$101,000

$107,000

2014

2015

$105,000

2014

2016

2015

2016

Historical Data
Jun-07
$249,921

$250,000
$200,000

Feb-16
$115,000

Nov-11
$93,450

$150,000

Jan-16

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

February

Year to Date

92%

92%
90%

90%

2014

2015

Historical Data
Mar-06
& Apr-06
98%

Apr-09 & May-09

81%

90%

2014

2015

2016

Feb-16
92%

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

100
95
90
85
80
75

2016

90%

11
Research performed by

Closed Sales Residential Lot

February

Year to Date

87

160
63
50

2014

2015

137

121

2014

2016

2015

2016

Historical Data
300

Apr-06
266

250
200

Feb-16
50

150
100

Jan-16

Sep-15

Jan-15

May-15

Sep-14

Jan-14

May-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

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

100
80
60
40
20
0
Jan

Feb

Mar

Apr

May

Jun

Jul

2015

2016

Aug

Sep

Oct

Nov

Dec

12
Research performed by

Median Sales Price Residential Lot

February

Year to Date

$49,500

$49,500
$46,000
$43,000

2014

$45,000

2015

2014

2016

$44,000

2015

2016

Historical Data
Aug-06
$130,000

$100,000

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

Jan-06

$50,000
$0

Feb-16
$49,500

Nov-11
$15,000

Jan-16

$150,000

Sold to List Price Ratio Residential Lot

February

82%

Year to Date
82%

82%

79%

80%

2014

2015

81%

2016

2014

2015

2016

Historical Data
120
100

Apr-06
99%

Feb-16
82%

80
60

Nov-11
47%
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

40

13
Research performed by