Grand Strand Market Report Contents Active Inventory 2

SFR Inventory Trends 3

Condo Inventory Trends 4

Closed Sales – SFR 5

Avg. Sales Price – SFR 6

Median Sales Price – SFR 7

Median Sales Price – SFR (Distressed & Non-Distressed) 8

Median Sales Price – SFR (Cash & Conventional Transactions) 9

SFR Sales – (% Cash vs. % Conventional) 10

Sales to List Price Ratio – SFR 11

Closed Sales – Condo 12

Avg. Sales Price – Condo 13

Median Sales Price – Condo 14

Median Sales Price–Condo (Distressed & Non-Distressed) 15

Median Sales Price – Condo (Cash & Conventional Transactions) 16

Condo Sales – (% Cash vs. % Conventional) 17

Sales to List Price Ratio – Condo 18

Closed Sales – Residential Lot 19

Avg. Sales Price – Residential Lot 20

Median Sales Price – Residential Lot 21

Median Sales Price – Res. Lot (Non-Distressed) 22

Sold to List Price Ratio – Residential Lot 23

Distressed Inventory 24

Distressed Sales 25

June 2013

Research powered by

SiteTech Systems

Single Family Residential (SFR) sales closed out the second quarter strong with a continued momentum since the beginning of 2013. Historically, sales activity peaks in May and then declines in the second half of the year. This is true for all SFR, Condo, and Res Lot sales activity in the month of June. There were 436 SFR sales in June, which has flat lined compared to June 2012. Year-to-date (YTD), SFR sales are up 19.2% from 2012 levels. In addition to strong SFR sales, the median sales price of SFRs was $182,250, which follows the seasonal trend from May. YTD, the median sales price is up 6.72% for the year. Coupled with stronger sales volume and sales prices, the sold to list ratio was 94%, its highest level since 2007. During June, the inventory of home for sales started its seasonal decline, however levels are still up 6.86% from prior year levels. It is anticipated that after the seasonal peak in May inventory will continue its seasonal decline similar to what occurred in June. The inventory of distressed homes for sale continued to decline and is now 33.8% below its prior year level. For condos, the inventory continues its slow decline and the current inventory is down 8.43% from June 2012 and distressed inventory is sharply down 43.7% over the last year. During June, condo sales declined 10.9% from 2012 but remain up 4.83% for the full year. The median sales price for condo continued to rise after it rebounded last month and is now at 114,700. This continued improvement was driven by fewer distressed sales. YTD, the median sales price of condos remains flat to 2012 levels at $107,000. Residential lot sales are in line with 2012 performance, both in June and YTD total sales. Similar to SFR and condos, the median sales price of residential lots is flat compared to May and the YTD sales price is now up 36.8% from 2012.

Grand Strand Active Inventory

Single Family Residential

# Listings

Horry Co. 4,175

Georgetown Co. 873

Total 5,048

Average List Price $333,367

Median List Price $229,000

Condo/Townhome

# Listings

Horry Co. 3,749

Georgetown Co. 421

Total 4,170

Average List Price $186,000

Median List Price $136,500

Horry Co.

G’town Co.

Less than $150k 1,128 84

$150k - $250k 1,494 177

$250k - $500k 1,181 340

$500k - $1.0 MM 268 156

$1 MM + 104 116

Horry Co.

G’town Co.

Less than $100k 1,218 46

$100k - $150k 934 108

$150k - $200k 638 68

$200k - $400k 747 104

$400k -$750k 172 68

$750+ 40 27

Distribution by Price Range

2 Research performed by SiteTech Systems

Residential Lot # Listings

Horry Co. 1,628

Georgetown Co. 767

Total 2,395

Average List Price $135,211

Median List Price $64,900

Horry Co.

G’town Co.

Less than $25k 298 70

$25k - $50k 556 88

$50k - $75k 221 89

$75k-100k 171 105

$100k-175k 163 153

$175k -250k 93 121

$250k+ 126 141

Grand Strand SFR Inventory Trends

Research performed by SiteTech Systems 3

June 2010 5,416

June 2011 5,042

June 2012 4,724

June 2013 5,048

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

Oct

-10

No

v-1

0

De

c-1

0

Jan

-11

Feb

-11

Mar

-11

Ap

r-1

1

May

-11

Jun

-11

Jul-

11

Au

g-1

1

Sep

-11

Oct

-11

No

v-1

1

De

c-1

1

Jan

-12

Feb

-12

Mar

-12

Ap

r-1

2

May

-12

Jun

-12

Jul-

12

Au

g-1

2

Sep

-12

Oct

-12

No

v-1

2

De

c-1

2

Jan

-13

Feb

-13

Mar

-13

Ap

r-1

3

May

-13

Jun

-13

Nu

mb

er

of

List

ings

Grand Strand SFR Inventory

June 2010 743

June 2011 875

June 2012 800

June 2013 529

500

550

600

650

700

750

800

850

900

950

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

Oct

-10

No

v-1

0

De

c-1

0

Jan

-11

Feb

-11

Mar

-11

Ap

r-1

1

May

-11

Jun

-11

Jul-

11

Au

g-1

1

Sep

-11

Oct

-11

No

v-1

1

De

c-1

1

Jan

-12

Feb

-12

Mar

-12

Ap

r-1

2

May

-12

Jun

-12

Jul-

12

Au

g-1

2

Sep

-12

Oct

-12

No

v-1

2

De

c-1

2

Jan

-13

Feb

-13

Mar

-13

Ap

r-1

3

May

-13

Jun

-13N

um

be

r o

f D

istr

ess

ed

Lis

tin

gs

Grand Strand SFR Distressed Inventory

Grand Strand Condo Inventory Trends

Research performed by SiteTech Systems 4

June 2010 5,748

June 2011 5,119 June 2012

4,554 June 2013 4,170

3,500

4,000

4,500

5,000

5,500

6,000

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

Oct

-10

No

v-1

0

De

c-1

0

Jan

-11

Feb

-11

Mar

-11

Ap

r-1

1

May

-11

Jun

-11

Jul-

11

Au

g-1

1

Sep

-11

Oct

-11

No

v-1

1

De

c-1

1

Jan

-12

Feb

-12

Mar

-12

Ap

r-1

2

May

-12

Jun

-12

Jul-

12

Au

g-1

2

Sep

-12

Oct

-12

No

v-1

2

De

c-1

2

Jan

-13

Feb

-13

Mar

-13

Ap

r-1

3

May

-13

Jun

-13

Nu

mb

er

of

List

ings

Grand Strand Condo Inventory

June 2010 979

June 2011 864

June 2012 771

June 2013 434

400

500

600

700

800

900

1,000

1,100

May

-10

Jun

-10

Jul-

10

Au

g-1

0

Sep

-10

Oct

-10

No

v-1

0

De

c-1

0

Jan

-11

Feb

-11

Mar

-11

Ap

r-1

1

May

-11

Jun

-11

Jul-

11

Au

g-1

1

Sep

-11

Oct

-11

No

v-1

1

De

c-1

1

Jan

-12

Feb

-12

Mar

-12

Ap

r-1

2

May

-12

Jun

-12

Jul-

12

Au

g-1

2

Sep

-12

Oct

-12

No

v-1

2

De

c-1

2

Jan

-13

Feb

-13

Mar

-13

Ap

r-1

3

May

-13

Jun

-13

Nu

mb

er

of

Dis

tre

sse

d L

isti

ngs

Grand Strand Condo Distressed Inventory

Closed Sales - SFR

June Year to Date

5 Research performed by SiteTech Systems

374

423436

2011 2012 2013

1,8292,048

2,442

2011 2012 2013

March 2006 500

January 2009 149

June 2013 436

100

150

200

250

300

350

400

450

500

550

Nu

mb

er

of

SFR

Sal

es

Historical SFR Sales Activity

Average Sales Price - SFR June Year to Date

6 Research performed by SiteTech Systems

$238,846

$227,200

$216,954

2011 2012 2013

$227,524

$217,099

$225,490

2011 2012 2013

March 2007 $346,428

December 2010 $202,330

June 2013 $216,954

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Ave

rage

Sal

es

Pri

ce

Historical SFR Average Sale Prices

Median Sales Price - SFR June

$185,250

$161,310

$182,250

2011 2012 2013

Year to Date

7 Research performed by SiteTech Systems

$174,795

$167,250

$178,483

2011 2012 2013

June 2010 $242,310

January 2011 $160,500

June 2013 $182,250

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

Me

dia

n S

ale

s P

rice

s

Historical SFR Median Sale Prices

Median Sales Price – SFR Distressed & Non-Distressed

8 Research performed by SiteTech Systems

$100,000

$120,000

$140,000

$160,000

$180,000

$200,000

$220,000

Mar

-11

Ap

r-1

1

May

-11

Jun

-11

Jul-

11

Au

g-1

1

Sep

-11

Oct

-11

No

v-1

1

De

c-1

1

Jan

-12

Feb

-12

Mar

-12

Ap

r-1

2

May

-12

Jun

-12

Jul-

12

Au

g-1

2

Sep

-12

Oct

-12

No

v-1

2

De

c-1

2

Jan

-13

Feb

-13

Mar

-13

Ap

r-1

3

May

-13

Jun

-13

MedianSales Price

Distressed SalesMedian Sales Price

Non-Distressed SalesMedian Sales Price

Median Sales Price – SFR Cash & Conventional Transactions

9 Research performed by SiteTech Systems

$125,000

$135,000

$145,000

$155,000

$165,000

$175,000

$185,000

$195,000

Ap

r-1

1

May

-11

Jun

-11

Jul-

11

Au

g-1

1

Sep

-11

Oct

-11

No

v-1

1

De

c-1

1

Jan

-12

Feb

-12

Mar

-12

Ap

r-1

2

May

-12

Jun

-12

Jul-

12

Au

g-1

2

Sep

-12

Oct

-12

No

v-1

2

De

c-1

2

Jan

-13

Feb

-13

Mar

-13

Ap

r-1

3

May

-13

Jun

-13

MedianSales Price

CashMedian Sales Price

ConventionalMedian Sales Price

SFR Sales % Cash vs. % Conventional

Research performed by SiteTech Systems 10

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

Cash% of Closed Sales

Conventional% of Closed Sales

Sold to List Price Ratio - SFR

June

88%

92%

94%

2011 2012 2013

Year to Date

11 Research performed by SiteTech Systems

88%

91%

93%

2011 2012 2013

January 2006 98%

May 2009 & April 2011 86%

June 2013 94%

80

82

84

86

88

90

92

94

96

98

100

Sold

to

Lis

t R

atio

Historical SFR Sold to List Ratios

Closed Sales - Condo June

355

393

350

2011 2012 2013

Year to Date

12 Research performed by SiteTech Systems

1,897

1,989

2,085

2011 2012 2013

May 2006 845

January 2009 117

June 2013 350

100

200

300

400

500

600

700

800

900

Nu

mb

er

of

Sale

s

Historical Condo Sales Activity

Average Sales Price - Condo June Year to Date

13 Research performed by SiteTech Systems

$140,748

$136,131 $135,599

2011 2012 2013

$146,188

$142,132 $141,835

2011 2012 2013

June 2007 $348,053

December 2010 $105,000

June 2013 $141,835

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

Ave

rage

Sal

es

Pri

ce

Historical Condo Average Sale Prices

Median Sales Price - Condo June

$120,000

$110,000

$114,700

2011 2012 2013

Year to Date

14 Research performed by SiteTech Systems

$109,900

$106,000 $107,000

2011 2012 2013

June 2007 $249,921

November 2011 $93,450

June 2013 $114,700

$50,000

$70,000

$90,000

$110,000

$130,000

$150,000

$170,000

$190,000

$210,000

$230,000

$250,000

Me

dia

n S

ale

s P

rice

Historical Condo Median Sales Prices

Median Sales Price – Condo Distressed & Non-Distressed

15 Research performed by SiteTech Systems

$60,000

$70,000

$80,000

$90,000

$100,000

$110,000

$120,000

$130,000

$140,000

$150,000

MedianSales Price

Distressed SalesMedian Sales Price

Non-Distressed SalesMedian Sales Price

Median Sales Price – Condo Cash & Conventional Transactions

16 Research performed by SiteTech Systems

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$180,000

CashMedian Sales Price

ConventionalMedian Sales Price

MedianSales Price

Condo Sales % Cash vs. % Conventional

Research performed by SiteTech Systems 17

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

Cash% of Closed Sales

Conventional% of Closed Sales

Sold to List Price Ratio - Condo

June

86%

88%

91%

2011 2012 2013

Year to Date

18 Research performed by SiteTech Systems

86%88%

91%

2011 2012 2013

March & April 2006 98%

April & May 2009 81%

June 2013 91%

75

80

85

90

95

100

Sold

to

Lis

t R

atio

Historical Condo Sold to List Ratio

Closed Sales – Residential Lot

70

113100

2011 2012 2013

Year to Date

19

June

Research performed by SiteTech Systems

333

565 549

2011 2012 2013

April 2006 266

January 2009 11

June 2013 100

0

50

100

150

200

250

300

Nu

mb

er

of

sale

s

Historical Residential Lot Sales Activity

Average Sales Price – Residential Lot June Year to Date

20 Research performed by SiteTech Systems

$54,651 $59,049 $68,293

2011 2012 2013

$73,236

$62,426

$69,993

2011 2012 2013

July 2008 $275,614

October 2011 $35,780

June 2013 $68,293

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

Ave

rage

Sal

es

Pri

ces

Historical Residential Lot Average Sale Prices

Median Sales Price – Residential Lot

June

$32,400

$25,000

$44,250

2011 2012 2013

Year to Date

21 Research performed by SiteTech Systems

$37,200

$28,500

$39,000

2011 2012 2013

August 2006 $130,000

November 2011 $15,000

June 2013 $44,250

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

Me

dia

n S

ale

s P

rice

s

Historical Residential Lot Median Sale Prices

Median Sales Price – Res. Lot (Non-Distressed)

June

$34,500 $30,000

$57,500

2011 2012 2013

Year to Date

22 Research performed by SiteTech Systems

$56,530

$47,500$49,880

2011 2012 2013

January 2011 $85,000

October 2011 $23,250

June 2013 $57,500

$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

Me

dia

n S

ale

s P

rice

s

Historical Residential Lot Median Sale Prices (Non-Distressed)

Sold to List Price Ratio – Residential Lot June Year to Date

73%

68%

79%

2011 2012 2013

23 Research performed by SiteTech Systems

75%66%

80%

2011 2012 2013

April 2006 99%

November 2011 47%

June 2013 80%

40

50

60

70

80

90

100

Sold

to

Lis

t R

atio

s

Historical Residential Lot Sold to List Ratios

Grand Strand Distressed Inventory

Single Family Residential

# Listings

Horry Co. 460

Georgetown Co. 69

Total 529

Average List Price $104,366

Median List Price $144,203

Condo/Townhome

# Listings

Horry Co. 403

Georgetown Co. 31

Total 434

Average List Price $122,143

Median List Price $92,950

Horry Co.

G’town Co.

Less than $150k 267 26

$150k - $250k 114 21

$250k - $500k 60 16

$500k - $1.0 MM 16 6

$1 MM + 3 -

Distribution by Price Range

24 Research performed by SiteTech Systems

Residential Lot

# Listings

Horry Co. 202

Georgetown Co. 75

Total 277

Average List Price $70,410

Median List Price $34,800

Horry Co.

G’town Co.

Less than $25k 85 19

$25k - $50k 63 15

$50k - $75k 20 9

$75k-100k 10 11

$100k-175k 11 12

$175k -250K 5 6

$250K + 8 3

Horry Co.

G’town Co.

Less than $100k 233 10

$100k - $150k 76 7

$150k - $200k 40 6

$200k - $400k 47 5

$400k -$750k 7 3

$750+ - -

Distressed Sales Total

Jun-12

Aug Oct Dec Feb Apr Jun-13

SFR

Jun-12

Aug Oct Dec Feb Apr Jun-13

Condo

25 Research performed by SiteTech Systems

Jun-12

Aug Oct Dec Feb Apr Jun-13

% Total Sales

29 29 29 29

23 25 25 27 28 24 26

17 15

Jun-12

Aug Oct Dec Feb Apr Jun-13

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