May saw a surge of new properties come onto the market on the Grand Strand with close to 15% more listings in May 2012 than May 2011. Along with this increase came a 42% increase in pending sales activity! This is the largest volume of selling in over 5 years in the area!
Currently the supply of homes coming on the market is meeting the demand and we are NOT seeing any increase in average or specific pricing. The average did increase $1,000 in May, but that is insignificant.
The main thing to look at in the numbers is a healthy real estate market that is improving and stabilizing. If we continue to see this trend for the next year or two we may even be having a discussion about price appreciation by the end of 2013 or 2014!!
For complete data on the market or for any additional real estate help please contact me anytime at (843) 241-1929 or firstname.lastname@example.org