7/30/2019 November 2012 Monthly Indicators
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Monthly Indicators
November 2012 Quick Facts
A RESEARCH TOOL PROVIDED BY THE WESTERN UPSTATE ASSOCIATION OF REALTORS
+ 3.9%
Change in
Median Sales Price
This November, there was a lot to be thankful for. Home buyers were thankful
for historically low mortgage rates and still-affordable prices. Sellers were
thankful for increased sales, less competition and faster market times. Both
parties can be thankful for the slow yet steady economic recovery. Challenges
persist, to be sure, going into 2013, but there's more reason for optimism than
'
- 7.0%
Change in
Inventory
+ 7.2%
Change in
Closed Sales
2
3
4
5
6
7
8
9
10
11
12Months Supply of Inventory
Pending Sales
New Listings
Market Overview
Housing Affordability Index
Inventory of Homes for Sale
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | 1
Click on desired metric to jump to that page.
. .
New Listings in the Western Upstate region decreased 6.0 percent to 421.
Pending Sales were down 28.8 percent to 141. Inventory levels shrank 7.0
percent to 3,695 units.
Prices moved higher. The Median Sales Price increased 3.9 percent to
$135,000. Days on Market was up 10.2 percent to 187 days. Absorption rates
improved as Months Supply of Inventory was down 8.4 percent to 15.4 months.
There are three primary avenues to housing recovery: better market
fundamentals, improved market composition and more jobs. Many communities
are enjoying better fundamentals, such as higher demand and less supply. But
many areas are also experiencing a lower overall share of distressed sales
activity. In the month ahead, continue to watch hiring and unemployment
trends.
Percent of List Price Received
Average Sales Price
Median Sales Price
Days On Market Until Sale
Closed Sales
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Market Overview
Key Metrics Historical Sparklines 11-2011 11-2012 + / YTD 2011 YTD 2012 + /
169 187
2,704 + 3.7%181 194
- 2.8%
+ 7.2% 2,607
- 4.7%
198 141 - 28.8% 2,652 2,711 + 2.2%
6,266448 421 - 6.0% 6,574
Key market metrics for the current month and year-to-date figures.
+ 10.2% 169 164
New Listings
Pending Sales
Closed Sales
Days on Market Until Sale
11-2009 11-2010 11-2011 11-2012
11-2009 11-2010 11-2011 11-2012
11-2009 11-2010 11-2011 11-2012
11-2009 11-2010 11-2011 11-2012
178
3,975
195
--
$164,302 $168,912
$129,950 $135,000
Percent of List Price Received
$178,532
92.6%
+ 2.8%
+ 1.6%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 2
+ 3.9% $124,000 $126,000
+ 1.0%+ 0.7% 92.3% 93.3%
Months Supplyof Homes for Sale
$173,394 - 2.9%
93.3%
Housing Affordability Index
Inventory of Homes for Sale
16.8
185
--
--
+ 4.0%
- 7.0%
- 8.4%
+ 5.7%184
--
-- --
3,695
15.4
Median Sales Price
Average Sales Price
11-2009 11-2010 11-2011 11-2012
11-2009 11-2010 11-2011 11-2012
11-2009 11-2010 11-2011 11-2012
11-2009 11-2010 11-2011 11-2012
11-2009 11-2010 11-2011 11-2012
11-2009 11-2010 11-2011 11-2012
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New Listings
Month
Prior
Year
Current
Year+ /
December 418 353 -15.6%
January 602 647 +7.5%
February 663 583 -12.1%
March 811 654 -19.4%
April 639 656 +2.7%
May 645 584 -9.5%
June 628 597 -4.9%
July 527 533 +1.1%
August 601 582 -3.2%
September 536 483 -9.9%
October 474 526 +11.0%
November 448 421 -6.0%
A count of the properties that have been newly listed on the market in a given month.
472448
421
November
7,920
6,5746,266
Year To Date
-4.7%-5.1% -6.0% -17.0%
12-Month Avg 583 552 -5.3%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 3
2010 2011 2012
150
300
450
600
750
900
1,050
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical New Listing Activity
2010 2011 2012
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Pending Sales
Month
Prior
Year
Current
Year+ /
December 186 169 -9.1%
January 193 240 +24.4%
February 253 249 -1.6%
March 296 279 -5.7%
April 276 262 -5.1%
May 274 290 +5.8%
June 224 266 +18.8%
July 249 269 +8.0%
August 275 285 +3.6%
September 213 231 +8.5%
October 201 199 -1.0%
November 198 141 -28.8%
A count of the properties on which contracts have been accepted in a given month.
200 198
141
November
2,680 2,652 2,711
Year To Date
+2.2%-1.0% -28.8% -1.0%
12-Month Avg 237 240 +1.5%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 4
2010 2011 2012
100
150
200
250
300
350
400
450
500
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Pending Sales Activity
2010 2011 2012
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Closed Sales
Month
Prior
Year
Current
Year+ /
December 200 194 -3.0%
January 178 168 -5.6%
February 197 227 +15.2%
March 257 234 -8.9%
April 272 224 -17.6%
May 249 288 +15.7%
June 295 280 -5.1%
July 221 282 +27.6%
August 270 305 +13.0%
September 248 244 -1.6%
October 239 258 +7.9%
November 181 194 +7.2%
A count of the actual sales that have closed in a given month.
199
181194
November
2,594 2,6072,704
Year To Date
+3.7%-9.0% +7.2% +0.5%
12-Month Avg 234 242 +3.7%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 5
2010 2011 2012
0
100
200
300
400
500
600
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Closed Sales Activity
2010 2011 2012
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Days on Market Until Sale
Month
Prior
Year
Current
Year+ /
December 177 178 +0.4%
January 153 193 +25.7%
February 162 168 +3.7%
March 184 155 -15.4%
April 165 147 -11.3%
May 169 148 -12.1%
June 166 168 +1.1%
July 173 162 -6.5%
August 160 160 -0.3%
September 178 173 -2.5%
October 175 162 -7.5%
November 169 187 +10.2%
Average number of days between when a property is listed and when an offer is accepted in a given month.
156
169
187
November
157
169 164
Year To Date
-2.8%+8.7% +10.2% +7.6%
12-Month Avg 170 165 -2.6%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 6
2010 2011 2012
110
120
130
140
150
160
170
180
190
200
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Days on Market Until Sale
2010 2011 2012
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Median Sales Price
Month
Prior
Year
Current
Year+ /
December $109,500 $116,777 +6.6%
January $106,225 $123,700 +16.5%
February $113,250 $125,000 +10.4%
March $108,950 $123,000 +12.9%
April $113,000 $120,000 +6.2%
May $124,500 $127,950 +2.8%
June $147,000 $131,000 -10.9%
July $130,000 $130,500 +0.4%
August $131,000 $123,500 -5.7%
September $137,500 $129,000 -6.2%
October $119,000 $127,500 +7.1%
November $129,950 $135,000 +3.9%
Median price point for all closed sales, not accounting for seller concessions, in a given month.
$128,288 $129,950$135,000
November
$126,000 $124,000 $126,000
Year To Date
+1.6%+1.3% +3.9% -1.6%
12-Month Med $123,000 $125,616 +2.1%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 7
2010 2011 2012
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
$160,000
$170,000
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Median Sales Price
2010 2011 2012
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Average Sales Price
Month
Prior
Year
Current
Year+ /
December $152,776 $183,167 +19.9%
January $145,146 $145,405 +0.2%
February $176,762 $163,323 -7.6%
March $133,770 $162,275 +21.3%
April $153,805 $155,923 +1.4%
May $169,723 $181,495 +6.9%
June $195,565 $186,580 -4.6%
July $170,529 $177,565 +4.1%
August $158,167 $161,607 +2.2%
September $161,620 $165,835 +2.6%
October $160,404 $170,786 +6.5%
November $178,532 $173,394 -2.9%
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
$144,981
$178,532 $173,394
November
$165,351 $164,302 $168,912
Year To Date
+ 2.8%+ 23.1% - 2.9% - 0.6%
12-Month Avg $163,471 $169,868 +3.9%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 8
2010 2011 2012
$130,000
$140,000
$150,000
$160,000
$170,000
$180,000
$190,000
$200,000
$210,000
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Average Sales Price
2010 2011 2012
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Percent of List Price Received
Month
Prior
Year
Current
Year+ /
December 89.5% 91.7% +2.5%
January 91.3% 91.4% +0.1%
February 92.0% 93.0% +1.1%
March 91.6% 93.8% +2.3%
April 93.4% 94.3% +1.0%
May 92.7% 93.2% +0.5%
June 92.5% 93.1% +0.7%
July 91.7% 93.4% +1.9%
August 91.4% 92.6% +1.3%
September 92.5% 93.8% +1.4%
October 93.2% 93.6% +0.5%
November 92.6% 93.3% +0.7%
Percentage found when dividing a propertys sales price by its last list price, then taking the average for all properties sold in a given month,
not accounting for seller concessions.
90.8% 92.6% 93.3%
November
93.0% 92.3% 93.3%
Year To Date
+1.0%+2.1% +0.7% -0.8%
12-Month Avg 92.1% 93.1% +1.1%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 9
2010 2011 2012
88%
90%
92%
94%
96%
98%
100%
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Percent of List Price Received
2010 2011 2012
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Housing Affordability Index
Month
Prior
Year
Current
Year+ /
December 196 193 -1.6%
January 196 188 -4.0%
February 185 187 +0.8%
March 192 189 -1.6%
April 186 191 +2.6%
May 176 183 +4.2%June 157 183 +16.3%
July 173 186 +7.4%
August 174 194 +11.8%
September 168 191 +13.7%
October 190 192 +1.2%
November 178 185 +4.0%
This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary
to qualify for the median-priced home under prevailing interest rates.A higher number means greater affordability.
176 178185
November
179 184195
Year To Date
+5.7%+0.8% +4.0% +3.1%
12-Month Avg 181 188 +4.6%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 10
2010 2011 2012
80
100
120
140
160
180
200
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Housing Affordability Index
2010 2011 2012
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Inventory of Homes for Sale
Month
Prior
Year
Current
Year+ /
December 4,325 3,811 -11.9%
January 4,221 3,742 -11.3%
February 4,248 3,757 -11.6%
March 4,331 3,882 -10.4%
April 4,309 3,969 -7.9%
May 4,346 3,961 -8.9%
June 4,440 3,975 -10.5%
July 4,358 3,867 -11.3%
August 4,225 3,815 -9.7%
September 4,135 3,757 -9.1%
October 4,033 3,712 -8.0%
November 3,975 3,695 -7.0%
The number of properties available for sale in active status at the end of a given month.
4,460
3,9753,695
November
-7.0%-10.9%
12-Month Avg 4,246 3,829 -9.8%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 11
2010 2011 2012
800
1,300
1,800
2,300
2,800
3,300
3,800
4,300
4,800
5,300
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Inventory of Homes for Sale
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Months Supply of Inventory
Month
Prior
Year
Current
Year+ /
December 18.1 16.2 -10.5%
January 17.8 15.7 -11.8%
February 17.8 15.7 -11.8%
March 18.4 16.4 -11.1%
April 18.9 16.8 -11.0%
May 18.5 16.7 -9.9%
June 18.9 16.5 -12.6%
July 18.6 15.9 -14.3%
August 17.8 15.7 -11.9%
September 17.6 15.3 -12.7%
October 17.0 15.2 -11.0%
November 16.8 15.4 -8.4%
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.
19.0
16.815.4
November
-8.4%-11.4%
12-Month Avg 18.0 16.0 -11.4%
All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 12
2010 2011 2012
0
3
6
9
12
15
18
21
1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Months Supply of Inventory