Grand Strand Market Report
According to the Coastal Carolinas Association of Realtors, Grand Strand single-family residential sales activity is flat in May, but maintains its 4.5 percent growth rate for the year. Condo sales are up 8.1 percent and residential lot sales are down 4.9 percent, compared to May 2017 levels. Single-family residential sales volume is down 1 percent compared to May 2017 but is up 4.5 percent year-to-date. Median sales price is up to $243,360, a 8.2 percent increase from May 2017.
Sales prices for new construction and resales are also up 5.6 percent and 7.1 percent, respectively, when compared to May 2017. The average sold-to-list ratio for Single Family Residential sales in May was 96 percent, flat compared to the same month in 2017.
Condo sales volume is up 8.1 percent compared to May 2017 with year-to-date sales also up 3.2 percent. The median sales price is up to $129,950, a 3.96 percent increase from May 2017. Condo inventory continued to tighten as inventory is down as compared to prior year levels: down 9.9 percent compared to May 2017. The average sold to list ratio for condo sales in May was 94 percent, flat compared to the same month in 2017.