Monthly Indicators - 6.4% + 8.0% - 5.3% Market Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price

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1 Monthly Indicators 2018 The booming U.S. economy continues to prop up home sales and new listings in much of the nation, although housing affordability remains a concern. Historically, housing is still relatively affordable. Although Freddie Mac recently reported that the 30-year fixed rate is at its highest average in seven years, reaching 4.94 percent, average rates were 5.97 percent ten years ago, 6.78 percent 20 years ago and percent 30 years ago. Nevertheless, affordability concerns are causing a slowdown in home price growth in some markets, while price reductions are becoming more common. Quick Facts - 6.4% + 8.0% - 5.3% One-Year Change in Closed Sales One-Year Change in Median Sales Price One-Year Change in Months Supply A research tool provided by the Charleston Trident Association of REALTORS. Percent changes are calculated using rounded figures. New Listings were down 1.9 percent to 1,579. Pending Sales decreased 1.9 percent to 1,300. Inventory shrank 4.9 percent to 5,553 units. Prices moved higher as Median Sales Price was up 8.0 percent to $269,900. Days on Market decreased 5.2 percent to 55 days. Months Supply of Inventory was down 5.3 percent to 3.6 months, indicating that demand increased relative to supply. The Bureau of Labor Statistics recently reported that the national unemployment rate was at 3.7 percent. Low unemployment has helped the housing industry during this extensive period of U.S. economic prosperity. Home buying and selling activity relies on gainful employment. It also relies on demand, and builders are showing caution by breaking ground on fewer single-family home construction projects in the face of rising mortgage rates and fewer showings. Market Overview New Listings Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 1

2 Market Overview Key market metrics for the current month and year-to-date figures. Key Metrics Historical Sparkbars YTD 2017 YTD 2018 New Listings 1,609 1, % 22,812 23, % Pending Sales 1,325 1, % 17,268 17, % Closed Sales 1,372 1, % 16,858 16, % Days on Market % % Median Sales Price $250,000 $269, % $250,000 $265, % Average Sales Price $344,366 $359, % $338,913 $358, % Pct. of Orig. Price Received 96.3% 95.8% - 0.5% 96.5% 96.6% + 0.1% Housing Affordability Index % % Inventory of Homes for Sale 5,838 5, % Months Supply of Inventory % Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 2

3 New Listings A count of the properties that have been newly listed on the market in a given month. 1,609 1,579 22,812 23,124 21,688 1, % + 8.5% - 1.9% + 4.1% + 5.2% + 1.4% New Listings Prior Year December ,246 1, % January ,820 1, % February ,124 2, % March ,561 2, % April ,331 2, % May ,438 2, % June ,291 2, % July ,059 2, % August ,205 2, % September ,578 1, % October ,138 2, % ,579 1, % 12-Month Avg 2,031 2, % Historical New Listings by Month 4,000 3,000 2,000 1,000 0 Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 3

4 Pending Sales A count of the properties on which offers have been accepted in a given month. 1,325 1,300 1,227 16,557 17,268 17, % + 8.0% - 1.9% + 6.3% + 4.3% + 0.1% Pending Sales Prior Year December ,138 1, % January ,388 1, % February ,519 1, % March ,903 1, % April ,852 1, % May ,884 1, % June ,733 1, % July ,612 1, % August ,544 1, % September ,125 1, % October ,421 1, % ,300 1, % 12-Month Avg 1,535 1, % Historical Pending Sales by Month 2,000 1,750 1,500 1,250 1, Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 4

5 Closed Sales A count of the actual sales that closed in a given month. 16,304 16,858 16,854 1,372 1,268 1, % + 8.2% - 6.4% % + 3.4% - 0.0% Closed Sales Prior Year December ,552 1, % January ,120 1, % February ,133 1, % March ,715 1, % April ,635 1, % May ,829 1, % June ,944 2, % July ,695 1, % August ,883 1, % September ,243 1, % October ,373 1, % ,284 1, % 12-Month Avg 1,534 1, % Historical Closed Sales by Month 2,500 2,000 1,500 1, Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 5

6 Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month Historical Days on Market Until Sale by Month % % - 5.2% - 3.3% - 5.2% -5.5% Days on Market Prior Year December % January % February % March % April % May % June % July % August % September % October % % 12-Month Avg* % * Average Days on Market of all properties from December 2017 through This is not the average of the individual figures above Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 6

7 Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. $269,900 $265,500 $242,710 $250,000 $250,000 $240,000 Historical Median Sales Price by Month - 1.4% + 3.0% + 8.0% + 5.3% + 4.2% + 6.2% Median Sales Price Prior Year December 2017 $268,843 $243, % January 2018 $258,000 $239, % February 2018 $257,580 $241, % March 2018 $260,000 $246, % April 2018 $270,000 $247, % May 2018 $273,833 $259, % June 2018 $270,000 $260, % July 2018 $266,950 $258, % August 2018 $261,355 $245, % September 2018 $276,750 $255, % October 2018 $259,835 $249, % 2018 $269,900 $250, % 12-Month Med* $266,000 $250, % * Median Sales Price of all properties from December 2017 through This is not the median of the individual figures above. $300,000 $280,000 $260,000 $240,000 $220,000 $200,000 $180,000 $160,000 Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 7

8 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $359,253 $358,473 $344,366 $338,913 $324,164 $320,999 Historical Average Sales Price by Month + 3.9% + 6.2% + 4.3% + 4.9% + 5.6% + 5.8% Avg. Sales Price Prior Year December 2017 $353,804 $317, % January 2018 $360,258 $323, % February 2018 $342,496 $316, % March 2018 $343,956 $338, % April 2018 $357,608 $332, % May 2018 $368,068 $368, % June 2018 $391,495 $351, % July 2018 $348,682 $348, % August 2018 $360,382 $330, % September 2018 $359,428 $324, % October 2018 $337,662 $328, % 2018 $359,253 $344, % 12-Month Avg* $356,924 $335, % * Avg. Sales Price of all properties from December 2017 through This is not the average of the individual figures above. $400,000 $375,000 $350,000 $325,000 $300,000 $275,000 $250,000 $225,000 Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 8

9 Percent of Original List Price Received Percentage found when dividing a property s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 96.3% 96.3% 95.8% 96.5% 96.5% 96.6% Historical Percent of Original List Price Received by Month + 0.2% 0.0% - 0.5% + 0.5% 0.0% + 0.1% Pct. of Orig. Price Received Prior Year December % 96.3% +0.1% January % 95.6% +0.3% February % 95.6% +1.2% March % 96.5% +0.2% April % 96.9% +0.1% May % 96.9% 0.0% June % 96.9% -0.1% July % 96.7% +0.2% August % 96.5% +0.3% September % 96.6% -0.1% October % 96.3% -0.3% % 96.3% -0.5% 12-Month Avg* 96.6% 96.5% +0.1% * Average Pct. of Orig. Price Received for all properties from December 2017 through This is not the average of the individual figures above % 98.0% 96.0% 94.0% 92.0% 90.0% 88.0% 86.0% 84.0% 82.0% Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 9

10 Housing Affordability Index 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 % - 5.0% - 8.0% - 5.5% - 6.6% -6.2% Affordability Index Prior Year December % January % February % March % April % May % June % July % August % September % October % % 12-Month Avg % Historical Housing Affordability Index by Month Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 10

11 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 5,840 5,838 5, % -4.9% -9.0% -0.0% Historical Inventory of Homes for Sale by Month -4.9% Homes for Sale Prior Year December ,370 5, % January ,356 5, % February ,590 5, % March ,801 5, % April ,808 5, % May ,858 5, % June ,925 6, % July ,819 6, % August ,852 6, % September ,801 5, % October ,864 6, % ,553 5, % 12-Month Avg* 5,716 5, % * Homes for Sale for all properties from December 2017 through This is not the average of the individual figures above. 14,000 12,000 10,000 8,000 6,000 4, Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 11

12 Months Supply of Inventory 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 % -5.0% -5.3% Historical Months Supply of Inventory by Month Months Supply Prior Year December % January % February % March % April % May % June % July % August % September % October % % 12-Month Avg* % * Months Supply for all properties from December 2017 through This is not the average of the individual figures above Current as of December 7, All data from the Charleston Trident Multiple Listing Service. Report 2018 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics. 12