Grand Strand Market Report
According to the Coastal Carolinas Association of Realtors, July was a strong month for sales activity, Grand Strand single-family residential sales are up 5.11 percent growth rate for the year. Condo sales are up 19.14
percent and residential lot sales are up 5.62 percent, compared to July 2017 levels. Single-family residential sales volume is up 5.11 percent compared to July 2017 and maintains its 5.69 percent growth rate for the year. The average sold-to-list ratio for Single Family Residential sales in July was 96%, flat compared to the same month in 2017.
Condo sales volume is up 19.14% compared to July 2017. Year-to-date sales are also up 3.91% from 2017 levels. The median sales price is up to $132,000, a 1.54% increase from July 2017. Condo inventory continued to tighten as inventory is down as compared to prior year levels: down 7.82% compared to July 2017. The average sold to list ratio for condo sales in July was 94%, up 100 basis points compared to the same month in 2017.
Residential lot sales were up 5.62% in July compared to 2017. The median sales price increased to $58,000, up 16.00% compared to the same month in 2017. Sold to list ratios are at 89%, up 400 basis points when compared to July 2017.