Grand Strand Market Report
Single Family Residential (SFR) sales activity increased as compared to may. However, sales production declined approximately 19% versus June, 2010. This marks the hird consecutive month of year over year sales decline. Year to date, SFR sales activity remains flat to 2010 levels. June’s SFR median sales price increased vs. prior month and was 6% greater than June, 2010. This increase was driven by lower distressed sales (as a % of total). We maintain our 2011 forecast of median sales prices to be off 5‐7% vs. 2010 levels. Similar to SFR sales, condo sales activity was off approximately 6% vs. May and June, 2010. Year to date sales production is up 4% versus 2010 levels. June’s decline in sales volume was driven by lower distressed sales. This decline resulted in higher median sales prices vs. prior month levels. Year to date, 2011 median sales prices continue to lag 2010 levels.
Median Sales Price
Sold to List Price Ratio
Download: Grand Strand Market Report – June 2011