In June, the number of single family home sales declined while prices were up from last year; condo sales were down and prices were flat;
Read the full report at:
June Real Estate Report for Pawley's Island
Wednesday, July 24, 2013
Thursday, July 18, 2013
Grand Strand Real Estate Market for June 2013
In June Single Family homes continued strong with the number of sales year to date up 19.2% from 2012 with the median sales price up 6.72% YTD.
However, inventories are up almost 7% from last year and mortgage interest rates are slowly climbing higher; these factors will keep the number of sales and further price gains under pressure, but off setting this is the number of distressed properties (foreclosed, etc.) which is down 33.8% from last year.
Condos show smaller gains with the number of sales up 4.8% year to date and the median sales price about the same; distressed properties are down sharply, 43.7% from last year, potentially good news for sellers. Condos remain difficult to finance with about 61% being cash sales compared with about 26% for single family homes.
The complete market report compiled by SiteTech Systems can be found at:
http://www.sitetechsystems.com/Grand_Strand_Market_Report.pdf
However, inventories are up almost 7% from last year and mortgage interest rates are slowly climbing higher; these factors will keep the number of sales and further price gains under pressure, but off setting this is the number of distressed properties (foreclosed, etc.) which is down 33.8% from last year.
Condos show smaller gains with the number of sales up 4.8% year to date and the median sales price about the same; distressed properties are down sharply, 43.7% from last year, potentially good news for sellers. Condos remain difficult to finance with about 61% being cash sales compared with about 26% for single family homes.
The complete market report compiled by SiteTech Systems can be found at:
http://www.sitetechsystems.com/Grand_Strand_Market_Report.pdf
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